Business, Management and Economics Research

Online ISSN: 2412-1770
Print ISSN: 2413-855X

Quarterly Published (4 Issues Per Year)


Volume 5 Number 6 June 2019

The Review Analysis of China’s Economic Growth and the Correlations with Thailand’s Economy

Authors: Wannakomol Supachart
Pages: 86-97
This article was aimed to study the environment and the co-movement of China’s economic growth together with Thailand under economic and macro-finance dimensions by collecting information from academic literatures, global organization reports, and historical data from opened source database such as World Bank, United Nations, International Monetary Fund (IMF), and other relatives. The study found that China’s and Thailand’s economic activities are related particularly in term of trade but the low investment. In fact, services industry has replaced industrial manufacture to be the influent factor on gross domestic product (GDP) in both two countries. Moreover, enhancing to promote world- class capital markets and financial system development in China has drawn attraction from Thailand investors to invest more than a half of Thailand’s direct investment funds in financial firms and activities in China in 2017. In the conclusion, Thailand’s economic growth is still relied on China’s demand for raw materials according to goods and products they have exported to China. The suggestion for Thailand is to create their own technology like China’s development model in order to produce valuable goods and services productivity. And for both countries, China and Thailand should also have to focus on income distribution through other areas outside the city under the principal of economic development to improve the welfare of the population.

Oil Consumption and Economic Growth in Turkey: An ARDL Bounds Test Approach in the Presence of Structural Breaks

Authors: Özgür Özaydın ; H. Alper Güzel
Pages: 77-85
The aim of this study is to investigate the relationship between oil consumption and income in Turkey, using annual data from 1961 to 2016. The stationarity properties of the series are analyzed with Lee and Strazicizh (2003), unit root test allowing for two structural breaks, along with the conventional unit root tests namely ADF, PP and KPSS. Due to conflicting findings of the unit root tests, ARDL bounds test approach to cointegration is used to capture the relationship between oil consumption and income. The findings of the ARDL bounds test indicated that oil and income are cointegrated. The causal relationship between the variables is also examined by employing Toda and Yamamoto (1995), approach to Granger non-causality. The outcomes of the Toda and Yamamoto (1995), procedure showed that the direction of the causality is running from real GDP to oil consumption, but not vice versa. Both bounds test and Toda and Yamamoto (1995), test results reveal that, energy conservation policies will not harm economic growth in Turkey.