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

22 Pages Posted: 13 Feb 2016 Last revised: 15 Feb 2016

See all articles by Markus Brueckner

Markus Brueckner

The Australian National University

Paitoon Kraipornsak

Chulalongkorn University

Date Written: February 11, 2016

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

Brueckner, Markus and Kraipornsak, Paitoon, Determinants of Economic Growth in South East Asia: An Analysis for the First Decade of the Third Millennium (February 11, 2016). CAMA Working Paper No. 8/2016 . Available at SSRN: https://ssrn.com/abstract=2731451 or http://dx.doi.org/10.2139/ssrn.2731451

Markus Brueckner (Contact Author)

The Australian National University ( email )

Canberra, Australian Capital Territory 2601
Australia

Paitoon Kraipornsak

Chulalongkorn University ( email )

Bangkok 10330
Thailand

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