文章基本信息

标题：The Effect of Balassa-Samuelson in South-East Asia
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作者：Saadiah Mohamad ; Kamaruzaman Jusoff ; Mahendhiran Nair 等
期刊名称：Asian Social Science
印刷版ISSN：1911-2017
电子版ISSN：1911-2025
出版年度：2008
卷号：4
期号：8
页码：112
DOI：10.5539/ass.v4n8p112
出版社：Canadian Center of Science and Education
摘要：High growth in the South-East Asian countries for the past three decades should imply high increases in productivity to reveal the Balassa-Samuelson (BS) effect of high growth accompanied by real exchange rate (RER) appreciation. This paper examines the effects of productivity increases by developing a robust unrestricted error correction model (UECM) of RER based on a class of theories of time-varying equilibrium exchange rates as opposed to the conventional PPP-based theory. An empirical study was carried out on four selected Southeast Asian countries: Indonesia, Malaysia, Singapore, and Thailand. This work suggests that the effects of productivity increases may be more complicated than what the theory suggests and points to the possibility that the Balassa-Samuelson is affected by the stage of economic development rather than mere productivity increases.