Globalization and economic growth: A case study of selected ASEAN countries
Tai Nyuk Chin, Nurul Hidayah Mat Nor
This study aims to investigate the causality pattern between globalization and economic growth in three selected ASEAN countries, namely Malaysia, Singapore and the Philippines based on the annual time series data for year 1970-2014. The data analysis were carried out by using unit root test to test for stationarity, followed by cointegration test to determine the long run relationship between variables and lastly Granger-causality test to analyze the causality pattern between selected variables. The empirical result suggested that there is evidence of causality (Unidirectional and bi-directional) running from the overall index of globalization towards the economic growth of Malaysia, Singapore and the Philippines. The findings are generally in line with the previous empirical studies, with view that globalization is favorable in promoting economic growth.
Tai Nyuk Chin, Nurul Hidayah Mat Nor. Globalization and economic growth: A case study of selected ASEAN countries. International Journal of Multidisciplinary Research and Development, Volume 4, Issue 8, 2017, Pages 166-173