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Analysis of International Capital Mobility in ASEAN-5 Countries (Indonesia, Malaysia, Thailand, the Philippines and Vietnam): Savings-Investment Nexus

Jurnal Ekonomi Malaysia

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Title Analysis of International Capital Mobility in ASEAN-5 Countries (Indonesia, Malaysia, Thailand, the Philippines and Vietnam): Savings-Investment Nexus
 
Creator Yong, Wei Sze
Haji Sulaiman, Rosita Bt
Jerome Kueh, Hui Swee
 
Subject Capital mobility, Feldstein-Horioka puzzle, panel data
F3, E2, C33
 
Description This paper analyzes the degree of the international capital mobility via the national savings and investment relationship inASEAN-5 countries, namely Indonesia, Malaysia, Thailand, the Philippines and Vietnam over the period 1960 to 2013 using panel data method. Besides, this paper also investigates the impact of the international capital mobility for three sub-periods: period prior to1997 Asian financial crisis (1960-1996), period after the 1997 Asian financial crisis (1997-2007) and period after the 2008 global financial crisis (2008-2013). The findings of this paper indicate that the degree of the international capital mobility is at the moderate level for the period 1960 to 2013. However, the finding of the sub-periods after 1997 Asian financial crisis and 2008 global financial crisis indicating an upsurge degree of the capital mobility in ASEAN-5 countries. This might be due to the adoption of export oriented policy and the capital account liberalization in the 1990s and closer economic cooperation in the East Asia region aftermath both of the global and Asian financial crises. 
 
Publisher Universiti Kebangsaan Malaysia
 
Contributor Universiti Teknologi MARA
University Malaysia Sarawak
 
Date 2017-01-25
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Identifier http://ejournal.ukm.my/jem/article/view/11115
 
Source Jurnal Ekonomi Malaysia; Vol 50, No 2 (2016): Jurnal Ekonomi Malaysia; 155-166
0126-1962
 
Language en
 
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