Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil

We analyze the cyclical behavior between outputs and prices in major ASEAN economies, namely Malaysia, Indonesia, Thailand, Singapore and the Philippines over two sample periods: the pre-crisis period (1990 to 1996) and the post-crisis period (2000 to 2006). Specifically, the study aims to shed the...

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Main Authors:	Kassim, Salina, Abd. Majid, M. Shabri
Format:	Article
Language:	English
Published:	Universitas Gadjah Mada 2008
Subjects:	H Social Sciences (General) HB Economic Theory
Online Access:	http://irep.iium.edu.my/3432/ http://irep.iium.edu.my/3432/ http://irep.iium.edu.my/3432/1/Salina%2BShabri-Outprice.pdf

id	iium-3432
recordtype	eprints
spelling	iium-34322011-10-19T03:14:00Z http://irep.iium.edu.my/3432/ Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil Kassim, Salina Abd. Majid, M. Shabri H Social Sciences (General) HB Economic Theory We analyze the cyclical behavior between outputs and prices in major ASEAN economies, namely Malaysia, Indonesia, Thailand, Singapore and the Philippines over two sample periods: the pre-crisis period (1990 to 1996) and the post-crisis period (2000 to 2006). Specifically, the study aims to shed the light on two issues:(i) the possibility that there is a change in the patterns of the correlations between real activities and prices in a particular country in the pre-crisis period compared to the post-crisis period; and (ii) the synchronization of real activity and price relationships or the business cycles across the major ASEAN countries. In order to analyze the output-price relationship across the countries and the time periods, we adopt several batteries of tests including the Pearson correlation analysis, the Auto-Regressive Distributed Lag (ARDL) model and the Vector Error-Correction Model (VECM). The study documents that the output-price relationship has changed in several countries following the crisis in 1997/1998. While there is clear business cycles synchronization between the ASEAN-5 countries in the short-run, results have been mixed in the long run. Results of this study contribute towards further enriching the policy recommendations to help ensuring the viability and effectiveness of the economic cooperation between the ASEAN nations. Universitas Gadjah Mada 2008-08 Article PeerReviewed application/pdf en http://irep.iium.edu.my/3432/1/Salina%2BShabri-Outprice.pdf Kassim, Salina and Abd. Majid, M. Shabri (2008) Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil. Gadjah Mada International Journal of Business, 10 (2). pp. 261-280. ISSN 1411-1128 http://www.gamaijb.mmugm.ac.id/index.php?option=com_content&task=view&id=70&Itemid=50
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
language	English
topic	H Social Sciences (General) HB Economic Theory
spellingShingle	H Social Sciences (General) HB Economic Theory Kassim, Salina Abd. Majid, M. Shabri Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil
description	We analyze the cyclical behavior between outputs and prices in major ASEAN economies, namely Malaysia, Indonesia, Thailand, Singapore and the Philippines over two sample periods: the pre-crisis period (1990 to 1996) and the post-crisis period (2000 to 2006). Specifically, the study aims to shed the light on two issues:(i) the possibility that there is a change in the patterns of the correlations between real activities and prices in a particular country in the pre-crisis period compared to the post-crisis period; and (ii) the synchronization of real activity and price relationships or the business cycles across the major ASEAN countries. In order to analyze the output-price relationship across the countries and the time periods, we adopt several batteries of tests including the Pearson correlation analysis, the Auto-Regressive Distributed Lag (ARDL) model and the Vector Error-Correction Model (VECM). The study documents that the output-price relationship has changed in several countries following the crisis in 1997/1998. While there is clear business cycles synchronization between the ASEAN-5 countries in the short-run, results have been mixed in the long run. Results of this study contribute towards further enriching the policy recommendations to help ensuring the viability and effectiveness of the economic cooperation between the ASEAN nations.
format	Article
author	Kassim, Salina Abd. Majid, M. Shabri
author_facet	Kassim, Salina Abd. Majid, M. Shabri
author_sort	Kassim, Salina
title	Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil
title_short	Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil
title_full	Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil
title_fullStr	Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil
title_full_unstemmed	Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil
title_sort	output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil
publisher	Universitas Gadjah Mada
publishDate	2008
url	http://irep.iium.edu.my/3432/ http://irep.iium.edu.my/3432/ http://irep.iium.edu.my/3432/1/Salina%2BShabri-Outprice.pdf
first_indexed	2023-09-18T20:11:15Z
last_indexed	2023-09-18T20:11:15Z
_version_	1777407492952686592

Output-price dynamics in the asean-5 countries: evidence from the pre- and post-1997 financial turmoil

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