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The Implications Of Emergence Of China Towards Asean-5: Fdi-Gdp Perspective

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Author Info
Puah, Chin-Hong
Kueh, Jerome Swee-Hui
Lau, Evan

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Abstract

The relationship between Foreign Direct Investment (FDI) and Gross Domestic Products (GDP) had become the centre piece of recent researches in identifying the short run and long run implications between the two variables. Using the hypotheses of FDI led GDP and GDP led FDI as theoretical framework, this study intends to analyze the implications of the rise of China towards the ASEAN-5 countries, namely Indonesia, Malaysia, the Philippines, Singapore and Thailand from the perspective of FDI and GDP. The cointegration and vector error correlation estimate test results showed that there is a significant positive long run relationship between FDI of China and GDP of ASEAN-5. However, we failed to detect any short run causal relationship among the variables under study.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 5219.

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Date of creation: 09 Oct 2007
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Handle: RePEc:pra:mprapa:5219

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Related research
Keywords: Cointegration; Granger causality; FDI; ASEAN-5;

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Find related papers by JEL classification:
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions
O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Jong Il Choe, 2003. "Do Foreign Direct Investment and Gross Domestic Investment Promote Economic Growth?," Review of Development Economics, Blackwell Publishing, vol. 7(1), pages 44-57, February. [Downloadable!] (restricted)
  2. Nicolas R. Blancher & Thomas Rumbaugh, 2004. "China: International Trade and WTO Accession," IMF Working Papers 04/36, International Monetary Fund. [Downloadable!]
  3. Nair-Reichert, Usha & Weinhold, Diana, 2001. " Causality Tests for Cross-Country Panels: A New Look at FDI and Economic Growth in Developing Countries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 63(2), pages 153-71, May. [Downloadable!] (restricted)
  4. Blomstrom, Magnus & Kokko, Ari, 1998. " Multinational Corporations and Spillovers," Journal of Economic Surveys, Blackwell Publishing, vol. 12(3), pages 247-77, July. [Downloadable!] (restricted)
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  5. Florence Jaumotte, 2004. "Foreign Direct Investment and Regional Trade Agreements: The Market Size Effect Revisited," IMF Working Papers 04/206, International Monetary Fund. [Downloadable!]
  6. John H. Dunning, 1997. "The European Internal Market Programme and Inbound Foreign Direct Investment," Journal of Common Market Studies, Blackwell Publishing, vol. 35(1), pages 1-30, 03. [Downloadable!] (restricted)
  7. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254. [Downloadable!] (restricted)
  8. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
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  10. John H. Dunning, 1997. "The European Internal Market Programme and Inbound Foreign Direct Investment," Journal of Common Market Studies, Blackwell Publishing, vol. 35(2), pages 189-223, 06. [Downloadable!] (restricted)
  11. James MacKinnon, 1990. "Critical Values for Cointegration Tests," University of California at San Diego, Economics Working Paper Series 90-4, Department of Economics, UC San Diego. [Downloadable!]
  12. Masih, Abul M M & Masih, Rumi, 1996. "Temporal Causality and the Dynamics of Different Categories of Crime and Their Socioeconomic Determinants: Evidence from Australia," Applied Economics, Taylor and Francis Journals, vol. 28(9), pages 1093-1104, September. [Downloadable!] (restricted)
  13. Zhang, Zhaoyong & Ow Chin Hock, 1996. "Trade interdependence and direct foreign investment between ASEAN and China," World Development, Elsevier, vol. 24(1), pages 155-170, January. [Downloadable!] (restricted)
  14. Magnus Blomstrom & Robert E. Lipsey & Mario Zejan, 1994. "What Explains Developing Country Growth?," NBER Working Papers 4132, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  15. Abeysinghe, Tilak & Lu, Ding, 2003. "China as an economic powerhouse: Implications on its neighbors," China Economic Review, Elsevier, vol. 14(2), pages 164-185. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Julia Kubny & Florian Mölders & Peter Nunnenkamp, 2008. "Regional Integration and FDI in Emerging Markets," Kiel Working Papers 1418, Kiel Institute for the World Economy. [Downloadable!]
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