Convergence clubs of economic liberalization in ASEAN, China, and India
The emergence of China and India as major international forces alongside ASEAN has triggered interest in strengthening the economic ties between these countries; hence, this serves as the motivation for this study to embark upon an analysis on economic liberalization and its link to economic growt...
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| Language: | en |
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Penerbit Universiti Kebangsaan Malaysia
2018
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| Online Access: | http://journalarticle.ukm.my/20076/1/jeko_523-10.pdf http://journalarticle.ukm.my/20076/ https://www.ukm.my/jem/issue/v52i3/ |
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| author | Rossazana Ab-Rahim, Sonia Kumari Selvarajan, Nor-Ghani Md-Nor, Dayang Affizah Awang Marikan, |
| author_facet | Rossazana Ab-Rahim, Sonia Kumari Selvarajan, Nor-Ghani Md-Nor, Dayang Affizah Awang Marikan, |
| author_sort | Rossazana Ab-Rahim, |
| building | Tun Sri Lanang Library |
| collection | Institutional Repository |
| content_provider | Universiti Kebangsaan Malaysia |
| content_source | UKM Journal Article Repository |
| continent | Asia |
| country | Malaysia |
| description | The emergence of China and India as major international forces alongside ASEAN has triggered interest in strengthening
the economic ties between these countries; hence, this serves as the motivation for this study to embark upon an analysis
on economic liberalization and its link to economic growth. The present study also aims to examine the possibility
of convergence clubs to exist between ASEAN, China, and India. The pooled mean group (PMG) estimator approach
was employed to assess the dynamic effects of economic liberalization, while Phillips and Sul methodology was used
to assess the economic possibility of convergence clubs. The empirical evidence supports the positive nexus between
economic liberalization and economic growth of ASEAN, China and India for the 1988 to 2014 period. The results also
offered support to the hypothesis that not all countries converge to a single equilibrium state, and the results of Philips
and Sul’s method revealed the existence of three convergence clubs. The first club consists of Singapore and Brunei
Darussalam, the second club is represented by Thailand, China, and Indonesia, while the third group comprises of the
Philippines, India, Vietnam, Lao PDR, and Myanmar. Interestingly, Malaysia was found to be the only outlier among
the selected countries under study. |
| format | Article |
| id | my-ukm.journal.20076 |
| institution | Universiti Kebangsaan Malaysia |
| language | en |
| publishDate | 2018 |
| publisher | Penerbit Universiti Kebangsaan Malaysia |
| record_format | eprints |
| spelling | my-ukm.journal.200762022-10-11T09:21:36Z http://journalarticle.ukm.my/20076/ Convergence clubs of economic liberalization in ASEAN, China, and India Rossazana Ab-Rahim, Sonia Kumari Selvarajan, Nor-Ghani Md-Nor, Dayang Affizah Awang Marikan, The emergence of China and India as major international forces alongside ASEAN has triggered interest in strengthening the economic ties between these countries; hence, this serves as the motivation for this study to embark upon an analysis on economic liberalization and its link to economic growth. The present study also aims to examine the possibility of convergence clubs to exist between ASEAN, China, and India. The pooled mean group (PMG) estimator approach was employed to assess the dynamic effects of economic liberalization, while Phillips and Sul methodology was used to assess the economic possibility of convergence clubs. The empirical evidence supports the positive nexus between economic liberalization and economic growth of ASEAN, China and India for the 1988 to 2014 period. The results also offered support to the hypothesis that not all countries converge to a single equilibrium state, and the results of Philips and Sul’s method revealed the existence of three convergence clubs. The first club consists of Singapore and Brunei Darussalam, the second club is represented by Thailand, China, and Indonesia, while the third group comprises of the Philippines, India, Vietnam, Lao PDR, and Myanmar. Interestingly, Malaysia was found to be the only outlier among the selected countries under study. Penerbit Universiti Kebangsaan Malaysia 2018 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/20076/1/jeko_523-10.pdf Rossazana Ab-Rahim, and Sonia Kumari Selvarajan, and Nor-Ghani Md-Nor, and Dayang Affizah Awang Marikan, (2018) Convergence clubs of economic liberalization in ASEAN, China, and India. Jurnal Ekonomi Malaysia, 52 (3). pp. 129-141. ISSN 0127-1962 https://www.ukm.my/jem/issue/v52i3/ |
| spellingShingle | Rossazana Ab-Rahim, Sonia Kumari Selvarajan, Nor-Ghani Md-Nor, Dayang Affizah Awang Marikan, Convergence clubs of economic liberalization in ASEAN, China, and India |
| title | Convergence clubs of economic liberalization in ASEAN, China, and India |
| title_full | Convergence clubs of economic liberalization in ASEAN, China, and India |
| title_fullStr | Convergence clubs of economic liberalization in ASEAN, China, and India |
| title_full_unstemmed | Convergence clubs of economic liberalization in ASEAN, China, and India |
| title_short | Convergence clubs of economic liberalization in ASEAN, China, and India |
| title_sort | convergence clubs of economic liberalization in asean, china, and india |
| url | http://journalarticle.ukm.my/20076/1/jeko_523-10.pdf http://journalarticle.ukm.my/20076/ https://www.ukm.my/jem/issue/v52i3/ |
| url_provider | http://journalarticle.ukm.my/ |