Document Type
Conference Item (Restricted)
Publication Date
2-17-2023
Abstract
The correlation between uncertainty and economic growth is an interesting research topic that has attracted different views from many scholars. The present study aimed to empirically analyse the linkages among numerous uncertainties, such as; the uncertainty index (UI), the consumer price index (CPI), foreign direct investment inflows (FDI), trade openness (TO), innovation (INNO) on economic growth (GDP) in the ASEAN-5 countries: Indonesia, Malaysia, The Philippines, Singapore, and Thailand between 1960 and 2020. The relationship between economic growth and its determinants over the long- and short-term was estimated using the pooled mean group (PMG) estimator. The findings showed that all computed coefficients had predicted signs and were statistically significant in the long run. In addition, economic growth was significantly impacted by FDI and the uncertainty index, both in the short and long term. The uncertainty index, CPI, FDI, innovation, and economic growth, thus, had a unidirectional relationship. On the other hand, no reciprocal relationship existed between trade openness and economic growth for the ASEAN-5 nations.
Keywords
ASEAN 5, Economic Growth, Panel ARDL, Uncertainty
Divisions
economics
Funders
None
Event Title
6th ASNet International Multidisciplinary Academic Conference (AIMAC2023)
Event Location
Kuala Lumpur, Malaysia
Event Dates
11 February 2023
Event Type
conference
Additional Information
Conference paper