金融危机、股市与经济增长——来自ASEAN-5的证据

IF 0.8 Q3 ECONOMICS Journal of Southeast Asian Economies Pub Date : 2019-04-27 DOI:10.1355/AE36-1E

Siti Muliana Samsi, C. K. Cheok, Z. Yusof

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引用次数: 7

摘要

摘要:本文考察了亚洲金融危机(AFC)和全球金融危机(GFC)对东盟五国经济增长的影响。印尼、马来西亚和泰国受亚洲金融危机的影响最大，而全球金融危机的影响较小。此外，马来西亚和泰国的实际产出对股市的冲击做出了积极而显著的反应。这些发现与结果一致，表明吉隆坡证券交易所的冲击对20个时期的实际产出的影响大于其他变量。但是，曼谷证券交易所的震荡对实际产出的影响较大，这种影响一直持续到第10期。这表明，股票市场是马来西亚和泰国重要的经济增长动力。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Financial Crisis, Stock Market and Economic Growth: Evidence from ASEAN-5

Abstract:This paper examines the effects of the Asian Financial Crisis (AFC) and Global Financial Crisis (GFC) on economic growth in the ASEAN-5 countries. Indonesia, Malaysia and Thailand were found to be most affected by the AFC but not the GFC. Additionally, for Malaysia and Thailand, real output responded positively and significantly to shocks in the stock market. These findings are consistent with the results that show that the shock in the Kuala Lumpur Stock Exchange has a larger effect on real output than other variables for twenty periods. However, a shock in the Bangkok stock exchange has a higher effect on real output and the effect remained strong until the tenth period. This suggests that the stock market is an important economic growth driver in Malaysia and Thailand.

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来源期刊

Journal of Southeast Asian Economies ECONOMICS-

CiteScore

1.00

自引率

0.00%

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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.