A large part of SEACEN economies is already de-facto integrated with respect to trade and foreign direct investment. However, trade is still very dependant on exports to countries outside the region, in particular the US. Compared to the European Union(EU), SEACEN's economic structure is far...

Notwithstanding several shortcomings of CPI, in the SEACEN region as in elsewhere, for pragmatic purpose, the CPI despite its many flaws is universally accepted as a policy target for monetary policy. This is justified if we examine the construction of the consumer price index itself. Even...

The objective of this project is to review methodologies of computing the potential output gaps; to survey of international best practice with respect to the estimation and utilisation of potential output and output gap measures; and to identify weaknesses and strengths of the respective...

This paper intends to provide some insights into whether counter-cyclical macroeconomic policies, in particular fiscal spending is effective tool to stabilising and stimulating the economy in the context of the open economic structure.

This in-house research project aims to enhance the understanding of the dynamic process of inflation in the SEACEN countries and to assess the effectiveness of monetary policy in the management of inflation in the individual countries.

The paper investigates the causal relationships between government spending and revenue for Malaysia. The study uses annual data, a Johansen cointegration test and an error-correction model. A preliminary test shows that government revenue and expenditure are cointegrated. Empirical results...