This short empirical paper attempts to study on the empirical investigation on the relationship\r\nof foreign trade and institutional stocks on economic growth of the ASEAN nations. The\r\npanel data which contains ten countries in ASEAN is employed to use in this paper and the\r\neconometric estimations such as Pooled OLS and Fixed-Effect estimations are adopted. In\r\nthis paper, the conventional factors such as fixed capital formation and economically\r\nemployed labor and domestic credit sizes are controlled. Finally, the empirical results from\r\nthis paper suggest a strong positively significant relationship between total stocks of\r\ninstitutions, foreign trade and domestic credit development on economic growth of these\r\nnations. Moreover, when controlling conventional factors and domestic credit sizes, foreign\r\ntrade and individual effect of government effectiveness, accountability, rule of law and\r\npolitical stability plays extremely roles in economic development of these nations.\r\nAdditionally, foreign trade effect on economic growth of these nations has changed over time;\r\nincreasing sharply, in particular after the ASEAN Free Trade Area was launched in 1992.
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