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Determinants of Economic Growth in South East Asia: An Analysis for the First Decade of the Third Millennium

Listed author(s):
  • Markus Brueckner
  • Paitoon Kraipornsak

This paper examines determinants of economic growth in South East Asia during the first decade of the third millennium -- the 2000s. Building on the growth model initially developed by Loayza et al. (2005), and augmented by Araujo et al. (2014), estimates are obtained for the impact that transitional convergence, structural reforms, stabilization policies, and external conditions had on economic growth in the South East Asian region during the 2000s. The most important driver of economic growth was transitional convergence, accounting for about one half of the region's growth. Improvements in structural reforms and favorable external conditions accounted for about one quarter of growth. Stabilization policies had a negligible impact.

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File URL: https://www.cbe.anu.edu.au/researchpapers/econ/wp630.pdf
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Paper provided by Australian National University, College of Business and Economics, School of Economics in its series ANU Working Papers in Economics and Econometrics with number 2016-630.

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Date of creation: Jan 2016
Handle: RePEc:acb:cbeeco:2016-630
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  1. Rabah Arezki & Markus Brückner, 2012. "Commodity Windfalls, Democracy and External Debt," Economic Journal, Royal Economic Society, vol. 122(561), pages 848-866, 06.
  2. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
  3. Robert J. Barro & Xavier Sala-i-Martin, 2003. "Economic Growth, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 0262025531, July.
  4. Jorge Thompson Araujo & Markus Brueckner & Mateo Clavijo & Ekaterina Vostroknutova & Konstantin M. Wacker, 2014. "Benchmarking the Determinants of Economic Growth in Latin America and the Caribbean," World Bank Other Operational Studies 21318, The World Bank.
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