{"title":"The Nexus between Fiscal Deficits and Economic Growth in ASEAN","authors":"Wee‐Yeap Lau, Tien-Ming Yip","doi":"10.1355/AE36-1D","DOIUrl":null,"url":null,"abstract":"Abstract:This study provides new evidence on the nexus between fiscal deficits and economic growth among ASEAN countries in the pre- and post-Global Financial Crisis (GFC) periods. Using annual data from 2001 to 2015, three results stand out. First, fiscal deficits are found to be growth-deteriorating in the pre-Crisis period and growth-enhancing in the post-Crisis period. Second, the impact of fiscal deficits on growth in pre- and post-GFC are robust to different measures of economic growth. Third, among control variables, inflation is important in influencing economic growth in the pre-Crisis period while exchange rate and inflow of foreign direct investment have a positive impact on growth in the post-Crisis period.","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"36 1","pages":"25 - 36"},"PeriodicalIF":0.8000,"publicationDate":"2019-04-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"10","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Southeast Asian Economies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1355/AE36-1D","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 10
Abstract
Abstract:This study provides new evidence on the nexus between fiscal deficits and economic growth among ASEAN countries in the pre- and post-Global Financial Crisis (GFC) periods. Using annual data from 2001 to 2015, three results stand out. First, fiscal deficits are found to be growth-deteriorating in the pre-Crisis period and growth-enhancing in the post-Crisis period. Second, the impact of fiscal deficits on growth in pre- and post-GFC are robust to different measures of economic growth. Third, among control variables, inflation is important in influencing economic growth in the pre-Crisis period while exchange rate and inflow of foreign direct investment have a positive impact on growth in the post-Crisis period.
期刊介绍：
The Journal of Southeast Asian Economies (JSEAE) is a peer-reviewed multi-disciplinary journal focusing on economic issues in Southeast Asia. JSEAE features articles based on original research, research notes, policy notes, review articles and book reviews, and welcomes submissions of conceptual, theoretical and empirical articles preferably with substantive policy discussions. Original research articles and research notes can be country studies or cross-country comparative studies. For quantitative-oriented articles, authors should strive to ensure that their work is accessible to non-specialists. Submitted manuscripts undergo a rigorous peer-review process – two reviewers for original research articles and one reviewer for research notes and policy notes. The journal is published three times a year: April, August and December.
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