Convergence clubs of economic liberalization in ASEAN, China, and India

The emergence of China and India as major international forces alongside ASEAN has triggered interest in strengthening the economic ties between these countries; hence, this serves as the motivation for this study to embark upon an analysis on economic liberalization and its link to economic growt...

Full description

Saved in:
Bibliographic Details
Main Authors: Rossazana Ab-Rahim,, Sonia Kumari Selvarajan,, Nor-Ghani Md-Nor,, Dayang Affizah Awang Marikan,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2018
Online Access:http://journalarticle.ukm.my/20076/1/jeko_523-10.pdf
http://journalarticle.ukm.my/20076/
https://www.ukm.my/jem/issue/v52i3/
Tags: Add Tag
No Tags, Be the first to tag this record!
id my-ukm.journal.20076
record_format eprints
spelling my-ukm.journal.200762022-10-11T09:21:36Z http://journalarticle.ukm.my/20076/ Convergence clubs of economic liberalization in ASEAN, China, and India Rossazana Ab-Rahim, Sonia Kumari Selvarajan, Nor-Ghani Md-Nor, Dayang Affizah Awang Marikan, The emergence of China and India as major international forces alongside ASEAN has triggered interest in strengthening the economic ties between these countries; hence, this serves as the motivation for this study to embark upon an analysis on economic liberalization and its link to economic growth. The present study also aims to examine the possibility of convergence clubs to exist between ASEAN, China, and India. The pooled mean group (PMG) estimator approach was employed to assess the dynamic effects of economic liberalization, while Phillips and Sul methodology was used to assess the economic possibility of convergence clubs. The empirical evidence supports the positive nexus between economic liberalization and economic growth of ASEAN, China and India for the 1988 to 2014 period. The results also offered support to the hypothesis that not all countries converge to a single equilibrium state, and the results of Philips and Sul’s method revealed the existence of three convergence clubs. The first club consists of Singapore and Brunei Darussalam, the second club is represented by Thailand, China, and Indonesia, while the third group comprises of the Philippines, India, Vietnam, Lao PDR, and Myanmar. Interestingly, Malaysia was found to be the only outlier among the selected countries under study. Penerbit Universiti Kebangsaan Malaysia 2018 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/20076/1/jeko_523-10.pdf Rossazana Ab-Rahim, and Sonia Kumari Selvarajan, and Nor-Ghani Md-Nor, and Dayang Affizah Awang Marikan, (2018) Convergence clubs of economic liberalization in ASEAN, China, and India. Jurnal Ekonomi Malaysia, 52 (3). pp. 129-141. ISSN 0127-1962 https://www.ukm.my/jem/issue/v52i3/
institution Universiti Kebangsaan Malaysia
building Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description The emergence of China and India as major international forces alongside ASEAN has triggered interest in strengthening the economic ties between these countries; hence, this serves as the motivation for this study to embark upon an analysis on economic liberalization and its link to economic growth. The present study also aims to examine the possibility of convergence clubs to exist between ASEAN, China, and India. The pooled mean group (PMG) estimator approach was employed to assess the dynamic effects of economic liberalization, while Phillips and Sul methodology was used to assess the economic possibility of convergence clubs. The empirical evidence supports the positive nexus between economic liberalization and economic growth of ASEAN, China and India for the 1988 to 2014 period. The results also offered support to the hypothesis that not all countries converge to a single equilibrium state, and the results of Philips and Sul’s method revealed the existence of three convergence clubs. The first club consists of Singapore and Brunei Darussalam, the second club is represented by Thailand, China, and Indonesia, while the third group comprises of the Philippines, India, Vietnam, Lao PDR, and Myanmar. Interestingly, Malaysia was found to be the only outlier among the selected countries under study.
format Article
author Rossazana Ab-Rahim,
Sonia Kumari Selvarajan,
Nor-Ghani Md-Nor,
Dayang Affizah Awang Marikan,
spellingShingle Rossazana Ab-Rahim,
Sonia Kumari Selvarajan,
Nor-Ghani Md-Nor,
Dayang Affizah Awang Marikan,
Convergence clubs of economic liberalization in ASEAN, China, and India
author_facet Rossazana Ab-Rahim,
Sonia Kumari Selvarajan,
Nor-Ghani Md-Nor,
Dayang Affizah Awang Marikan,
author_sort Rossazana Ab-Rahim,
title Convergence clubs of economic liberalization in ASEAN, China, and India
title_short Convergence clubs of economic liberalization in ASEAN, China, and India
title_full Convergence clubs of economic liberalization in ASEAN, China, and India
title_fullStr Convergence clubs of economic liberalization in ASEAN, China, and India
title_full_unstemmed Convergence clubs of economic liberalization in ASEAN, China, and India
title_sort convergence clubs of economic liberalization in asean, china, and india
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2018
url http://journalarticle.ukm.my/20076/1/jeko_523-10.pdf
http://journalarticle.ukm.my/20076/
https://www.ukm.my/jem/issue/v52i3/
_version_ 1748181764122083328
score 13.211869