Asian Economic Community with Selected Macroeconomic Variables for Exports Sustainability
ASEAN Economic Community is active in Blueprint on 20 November 2007. One activity is exports with free movement of goods and services, investment, skill labors and free flow of capital. It implies that number of outputs will be crated relating to use more workers. Once country produces many outputs, it will affect to change in GDP. Purpose is to search which selected macroeconomic variable including AEC are mostly affected to Thailand exports and to check relationship between GDP and unemployment. Two models are used. One is to identify variables on exports’ movements. Other is to explain relationship between GDP and unemployment. Outcome shows significance AEC has positive effect on exports. Furthermore, raising GDP has an effect on unemployment rate according to Okun’s law in economic theory. It is important for consumers, investors, foreigners and government to understand how effective factors improve for Thailand exports to make benefit in long run.
Volume (Year): 3 (2013)
Issue (Month): 3 ()
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- Peter A. Petri & Michael G. Plummer & Fan Zhai, 2010. "The Economics of the ASEAN Economic Community," Working Papers 13, Brandeis University, Department of Economics and International Businesss School.
- Luca Benedictis & Lucia Tajoli, 2007. "Economic integration and similarity in trade structures," Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 34(2), pages 117-137, April.
- Christopher J. Neely, 2010. "Okun's law: output and unemployment," Economic Synopses, Federal Reserve Bank of St. Louis.
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