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Determinants of economic growth in South East Asia: an analysis for the first decade of the third millennium

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  • Markus Brueckner
  • Paitoon Kraipornsak

Abstract

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.

Suggested Citation

  • Markus Brueckner & Paitoon Kraipornsak, 2016. "Determinants of economic growth in South East Asia: an analysis for the first decade of the third millennium," CAMA Working Papers 2016-08, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:camaaa:2016-08
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    7. Philippe Aghion & Steven Durlauf (ed.), 2005. "Handbook of Economic Growth," Handbook of Economic Growth, Elsevier, edition 1, volume 1, number 1.
    8. 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 Publications - Reports 21318, The World Bank Group.
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    Cited by:

    1. Bermúdez, Cecilia & Dabús, Carlos & Aromí, Daniel, 2022. "Uncertainty and economic growth: evidence from Latin America," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), August.

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