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Transmission Channels of Economic Shocks in ASEAN

Listed author(s):
  • Ruperto Majuca

    (School of Economics, De La Salle University, Philippines)

  • Jesson Pagaduan

    (School of Economics, De La Salle University, Philippines)

Registered author(s):

    This Policy Brief is based on ERIA Discussion Paper 2013-18 titled “Managing Economic Shocks and Macroeconomic Coordination in an Integrated Region: ASEAN Beyond 2015”. It examines the transmission of economic shocks both from the rest of the world into the ASEAN region and into a typical ASEAN member state (AMS). “Typical” here means representative AMSs, e.g., Singapore for a developed country, Philippines or Indonesia for ASEAN-5 economies and Viet Nam for the CLMV (Cambodia, Lao PDR, Myanmar, Viet Nam), where Viet Nam was chosen for data availability reasons. This paper looks into the trade and financial linkages of a typical AMS and employs a specialised type of vector autoregression (VAR) model to decompose the shocks into trade shocks, financial shocks, and commodity price shocks. The Brief concludes with an analysis of the implications for macroeconomic policy coordination in the region.

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    File URL: http://www.eria.org/ERIA-PB-2015-01.pdf
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    Paper provided by Economic Research Institute for ASEAN and East Asia (ERIA) in its series Working Papers with number PB-2014-08.

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    Length: 12 pages.
    Date of creation: Mar 2015
    Handle: RePEc:era:wpaper:pb-2015-01
    Contact details of provider: Postal:
    The ASEAN Secretariat Mezzanine Floor, 70A Jl.Sisingamangaraja, Jakarta 12110

    Phone: +62-21-5797-4460
    Fax: +62-21-5797-4463
    Web page: http://www.eria.org/

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    1. Asian Development Bank (ADB), 2013. "Asian Economic Integration Monitor March 2013," ADB Reports RPS135470-3, Asian Development Bank (ADB), revised 05 Nov 2013.
    2. Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB), 2012. "Asian Economic Integration Monitor July 2012," ADB Reports RPS124758-3, Asian Development Bank (ADB), revised 26 Jun 2013.
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