Impact of budget deficit formation on economics growth in Malaysia

The relationship between budget deficit and economic growth is one of the most importantissues debated by economists and policymakers in developed and developingcountries. The purpose of this study is to examine the relationship by concentrating ontheoretical debates, empirical studies and econometr...

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Main Author:	Asmawi Hashim
Format:	thesis
Language:	eng
Published:	2021
Subjects:	HD Industries Land use Labor
Online Access:	https://ir.upsi.edu.my/detailsg.php?det=6854
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topic	HD Industries Land use Labor
spellingShingle	HD Industries Land use Labor Asmawi Hashim Impact of budget deficit formation on economics growth in Malaysia
description	The relationship between budget deficit and economic growth is one of the most importantissues debated by economists and policymakers in developed and developingcountries. The purpose of this study is to examine the relationship by concentrating ontheoretical debates, empirical studies and econometric models to obtain substantiveconclusions. These conclusions are beneficial in the field of macroeconomics.Construction or development of macroeconomic models is used to analyze the impact of budgetdeficit on Malaysias economic growth. The effects of the budget deficit formation would leadto the formation of other macroeconomic variables, such as debt, rising interest rates and decreasing government spending, productive or non- productive. This study was conductedusing time series data collected from 1985 to 2018 to fulfil three specific objectives. The firstobjective is to identify the relationship that exists between all the selected variables and GrossDomestic Product (GDP) in the prescribed regimes. The second objective is to compare the effects ofdeficit formation on economic growth and the last objective is to investigate the dominant factoracross regime. The Auto-Regressive Distributed Lag (ARDL) model is used to analyze the co-integration and causal direction relationship between budget deficit and economicgrowth. The results show a long-term relationship of all the selected variables withGDP. This finding supported with the value of Error Correction Term (ECT) at -3.9874and significant at level 99 percent, in general model. In addition, there are differenteffects of budget deficits and dominant factor in each regime. This result supports thehypotheses set out in this study. There are existences of a long-term relationshipbetween the two variables, a deficit-GDP effect and different dominant factor in eachregime. In conclusion, the formation of a budget deficit that further forms othermacroeconomic variables in the economy is seen to have an empirical impact onMalaysia's GDP. This study is expected to contribute to the idea that, there are severaldynamic factors impacting the formation of budget deficit on GDP. Comprehensiveknowledge is a necessary in efforts to increase productivity and living standards ofpeople to ensure the stability of Malaysias economic system in future.
format	thesis
qualification_name
qualification_level	Doctorate
author	Asmawi Hashim
author_facet	Asmawi Hashim
author_sort	Asmawi Hashim
title	Impact of budget deficit formation on economics growth in Malaysia
title_short	Impact of budget deficit formation on economics growth in Malaysia
title_full	Impact of budget deficit formation on economics growth in Malaysia
title_fullStr	Impact of budget deficit formation on economics growth in Malaysia
title_full_unstemmed	Impact of budget deficit formation on economics growth in Malaysia
title_sort	impact of budget deficit formation on economics growth in malaysia
granting_institution	Universiti Pendidikan Sultan Idris
granting_department	Fakulti Pengurusan dan Ekonomi
publishDate	2021
url	https://ir.upsi.edu.my/detailsg.php?det=6854
_version_	1747833321516171264
spelling	oai:ir.upsi.edu.my:68542022-03-07 Impact of budget deficit formation on economics growth in Malaysia 2021 Asmawi Hashim HD Industries. Land use. Labor The relationship between budget deficit and economic growth is one of the most importantissues debated by economists and policymakers in developed and developingcountries. The purpose of this study is to examine the relationship by concentrating ontheoretical debates, empirical studies and econometric models to obtain substantiveconclusions. These conclusions are beneficial in the field of macroeconomics.Construction or development of macroeconomic models is used to analyze the impact of budgetdeficit on Malaysias economic growth. The effects of the budget deficit formation would leadto the formation of other macroeconomic variables, such as debt, rising interest rates and decreasing government spending, productive or non- productive. This study was conductedusing time series data collected from 1985 to 2018 to fulfil three specific objectives. The firstobjective is to identify the relationship that exists between all the selected variables and GrossDomestic Product (GDP) in the prescribed regimes. The second objective is to compare the effects ofdeficit formation on economic growth and the last objective is to investigate the dominant factoracross regime. The Auto-Regressive Distributed Lag (ARDL) model is used to analyze the co-integration and causal direction relationship between budget deficit and economicgrowth. The results show a long-term relationship of all the selected variables withGDP. This finding supported with the value of Error Correction Term (ECT) at -3.9874and significant at level 99 percent, in general model. In addition, there are differenteffects of budget deficits and dominant factor in each regime. This result supports thehypotheses set out in this study. There are existences of a long-term relationshipbetween the two variables, a deficit-GDP effect and different dominant factor in eachregime. In conclusion, the formation of a budget deficit that further forms othermacroeconomic variables in the economy is seen to have an empirical impact onMalaysia's GDP. This study is expected to contribute to the idea that, there are severaldynamic factors impacting the formation of budget deficit on GDP. Comprehensiveknowledge is a necessary in efforts to increase productivity and living standards ofpeople to ensure the stability of Malaysias economic system in future. 2021 thesis https://ir.upsi.edu.my/detailsg.php?det=6854 https://ir.upsi.edu.my/detailsg.php?det=6854 text eng closedAccess Doctoral Universiti Pendidikan Sultan Idris Fakulti Pengurusan dan Ekonomi A. Dayal-Gulati,Christian T. (1997). 7 Saving in South East Asia and Latin America compared:Searching for Policy Lesson. Book. Macroeconomic Issues Facing ASEAN countries.A.F. 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