Analyzing the Sustainability of Current Account in ASEAN Countries:Test of Intertemporal Borrowing Constraints

Huseyin Kalyoncu; Muhittin Kaplan

Makale detayları

Analyzing the Sustainability of Current Account in ASEAN Countries:Test of Intertemporal Borrowing Constraints

Yazarlar:

Huseyin Kalyoncu | Muhittin Kaplan

Yayıncı:

İlhan ÖZTÜRK

Dergi:

International Journal of Economics and Financial Issues 2014 Vol.4 Issue 3, pp.564-571

Belge Tipi:

Makale

Yayın Tarihi:

8/2014

Belge Dili:

Türkçe

Document ID (Org No.):

2000814428

Sıklık:

İki Aylık

eISSN:

2146-4138

Özet:

 

The objective of this paper is to investigate the sustainability of current account imbalances by using the data of five ASEAN countries, namely, Indonesia, Malaysia, Philippines, Singapore and Thailand over the 1981-2008 periods. Sustainability of current account for ASEAN countries is analyzed under intertemporal borrowing constraint (IBC) approach by performing an empirical analysis of Pedroni (1999) panel cointegration between exports and imports plus net transfer payments plus net interest payments. The empirical results of panel cointegration test show that these variables are cointegrated for whole period and two sub-periods. To find regression coefficient we use panel FMOLS and DOLS estimators. It is found that the coefficient is not significantly equal to one but very close to one. The overall results provide evidence in favour of the sustainability of the current account for five ASEAN countries as a group.

Makale detayları

Analyzing the Sustainability of Current Account in ASEAN Countries:Test of Intertemporal Borrowing Constraints

Yazarlar: Huseyin Kalyoncu | Muhittin Kaplan

Yayıncı: İlhan ÖZTÜRK

Dergi: International Journal of Economics and Financial Issues 2014 Vol.4 Issue 3, pp.564-571

Belge Tipi: Makale

Yayın Tarihi: 8/2014

Belge Dili: Türkçe

Document ID (Org No.): 2000814428

Sıklık: İki Aylık

eISSN: 2146-4138

Sayı

Yazarlar:

Huseyin Kalyoncu | Muhittin Kaplan

Yayıncı:

İlhan ÖZTÜRK

Dergi:

International Journal of Economics and Financial Issues 2014 Vol.4 Issue 3, pp.564-571

Belge Tipi:

Makale

Yayın Tarihi:

8/2014

Belge Dili:

Türkçe

Document ID (Org No.):

2000814428

Sıklık:

İki Aylık

eISSN:

2146-4138