Cover Image

Determinants of External Debt in Thailand and the Philippines

External debt (ED) has been the major global concern not only heavily indebted poor countries but also developing nations in resultants of the 2008 global financial crisis. It has become a well-discussed subject and generally a concern of global finance and world of economy greatly. This paper analy...

Full description

Saved in:
Bibliographic Details
Main Authors: Evan, Lau, Lee, Alvina Syn-Yee
Format: Article
Language:English
Published: Econjournals 2016
Subjects:
HC Economic History and Conditions
Online Access:http://ir.unimas.my/id/eprint/15891/1/Evan%20Lau.pdf
http://ir.unimas.my/id/eprint/15891/
http://www.econjournals.com/index.php/ijefi/article/view/2151
Tags: Add Tag
No Tags, Be the first to tag this record!
id my.unimas.ir.15891
record_format eprints
spelling my.unimas.ir.158912022-02-04T07:41:25Z http://ir.unimas.my/id/eprint/15891/ Determinants of External Debt in Thailand and the Philippines Evan, Lau Lee, Alvina Syn-Yee HC Economic History and Conditions External debt (ED) has been the major global concern not only heavily indebted poor countries but also developing nations in resultants of the 2008 global financial crisis. It has become a well-discussed subject and generally a concern of global finance and world of economy greatly. This paper analyses the role of some macroeconomic variables in determining the ED burden in Thailand and the Philippines from 1976 to 2013. The results indicate the existence of short-run linkages originated from inflation rate (Consumer Price Index [CPI]) and real interest rate [RIR] to ED in the case of Thailand. As for the Philippines, although there is no evidence of short-run linkages origin from gross domestic product (GDP), CPI, RIR and M2 to ED, but the burden of short-run adjustment appears to have fallen mostly on GDP and M2. Further, dynamic econometric analysis suggests that money and quasi money (M2) to total reserves ratio is the most exogenous variable beyond the 50-years horizon. The study concludes that a sound debt management could be implemented to control debt accumulation and to reduce dependence on debt relief in the form of foreign aid. Econjournals 2016 Article PeerReviewed text en http://ir.unimas.my/id/eprint/15891/1/Evan%20Lau.pdf Evan, Lau and Lee, Alvina Syn-Yee (2016) Determinants of External Debt in Thailand and the Philippines. International Journal of Economics and Financial Issues, 6 (4). pp. 1973-1980. ISSN 2146-4138 http://www.econjournals.com/index.php/ijefi/article/view/2151
institution Universiti Malaysia Sarawak
building Centre for Academic Information Services (CAIS)
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sarawak
content_source UNIMAS Institutional Repository
url_provider http://ir.unimas.my/
language English
topic HC Economic History and Conditions
spellingShingle HC Economic History and Conditions
Evan, Lau
Lee, Alvina Syn-Yee
Determinants of External Debt in Thailand and the Philippines
description External debt (ED) has been the major global concern not only heavily indebted poor countries but also developing nations in resultants of the 2008 global financial crisis. It has become a well-discussed subject and generally a concern of global finance and world of economy greatly. This paper analyses the role of some macroeconomic variables in determining the ED burden in Thailand and the Philippines from 1976 to 2013. The results indicate the existence of short-run linkages originated from inflation rate (Consumer Price Index [CPI]) and real interest rate [RIR] to ED in the case of Thailand. As for the Philippines, although there is no evidence of short-run linkages origin from gross domestic product (GDP), CPI, RIR and M2 to ED, but the burden of short-run adjustment appears to have fallen mostly on GDP and M2. Further, dynamic econometric analysis suggests that money and quasi money (M2) to total reserves ratio is the most exogenous variable beyond the 50-years horizon. The study concludes that a sound debt management could be implemented to control debt accumulation and to reduce dependence on debt relief in the form of foreign aid.
format Article
author Evan, Lau
Lee, Alvina Syn-Yee
author_facet Evan, Lau
Lee, Alvina Syn-Yee
author_sort Evan, Lau
title Determinants of External Debt in Thailand and the Philippines
title_short Determinants of External Debt in Thailand and the Philippines
title_full Determinants of External Debt in Thailand and the Philippines
title_fullStr Determinants of External Debt in Thailand and the Philippines
title_full_unstemmed Determinants of External Debt in Thailand and the Philippines
title_sort determinants of external debt in thailand and the philippines
publisher Econjournals
publishDate 2016
url http://ir.unimas.my/id/eprint/15891/1/Evan%20Lau.pdf
http://ir.unimas.my/id/eprint/15891/
http://www.econjournals.com/index.php/ijefi/article/view/2151
_version_ 1724078572716425216
score 13.211869

Similar Items