Determinants of Inflation Rate Fluctuations in Five ASEAN Nations

Norliza Che Yahya, Bushra Mohd Zaki, Siti Nur Aqilah Ab Wahab, Muhammad Hazdaniel Bin Roslan and Fauziana Bt Fauzi Mat Rawi

Information Management and Business Review, 2024, vol. 16, issue 3, 817-830

Abstract: This paper examines the key relationships between independent variables and inflation fluctuations in the ASEAN-5 countries, which include Malaysia, Indonesia, Singapore, Thailand, and the Philippines. Using annual data from 2001 to 2020, a static panel data regression model is employed. The empirical results reveal that at least two independent variables significantly impact inflation rates in these five ASEAN nations. Specifically, the unemployment rate has a significant negative correlation with inflation fluctuations, while economic growth shows a significant positive correlation. Overall, this study provides valuable insights into how exchange rate determinants influence inflation fluctuations, highlighting the importance of balanced policies to address the interactions between unemployment, economic growth, and inflation.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:rnd:arimbr:v:16:y:2024:i:3:p:817-830

DOI: 10.22610/imbr.v16i3S(I)a.4238

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