英语论文网

educe the impact of oil prices on the economies (“ASEAN Cooperation to Strengthen Energy Security”, 2008). Recognizing the concern on impact of the current increasing oil prices it was agreed that ASEAN should take a broad range of measures and appropriate policy responses to solve and lead the problem. In 14th ASEAN Summit in Bangkok, Thailand, they adopted the final draft of the new ASEAN Petroleum Security Agreement (APSA).The conclusion of the new APSA would be an important milestone to provide the necessary mechanism for a timely coordinated response during periods of petroleum shortages and emergencies.(Rajaratnam, S., 2008).

They agreed in this meeting that the global energy security is a responsibility among all producers and consumers, also security of demand should be parallel to security of supply and easy exchange of data and its transparency are crucial elements for market stability and predictability.

The energy ministers of ASEAN countries agreed taking into consideration OPEC’s initiative to monitor oil market enhancements and consider appropriate and prompt policies when it’s necessary. Also they acknowledged OPEC that exchange of energy data is crucial for marke3t predictability and stability.

Considering the above mentioned issues energy is an important factor in economy of ASEAN countries, but the level of investment in these countries has been a major factor which has affected their economical growth. As these two factors have been major concern and reason of development of Malaysia, Indonesia, Singapore, Thailand and Philippines in this research the target is the economy of these five ASEAN countries.

Contribution of the Study:

This study provides additional evidence on relationship between two economical factors energy consumption and Gross Fixed Capital Formation (GFCF) on GDP of ASEAN counties which has not been investigated before. the results of this research can be used by economy policy makers of these five countries.

Outline of the Study:

In Chapter one, the background of the study is introduced. It explains the research problem and questions for the study. It also poses the research objectives and the significance of the study. This chapter includes the importance of studying the ASEANeconomies, contribution and the organization of the study.

Chapter 2 provides the overview of the situation of ASEAN’s economies and theirEconomies. In addition, the role of oil in each of the underlying countries is mentioned. It also reviews the previous studies on impact of the Energy consumption and Gross Fixed Capital Formation (GFCF) on GDP growth various countries all over the world.

Chapter 3 describes the theoretical framework and hypotheses testing for the study. It also describes the data sources and discusses the methodology employed in examining the relationship between the macroeconomic variables and GDP growth.

Chapter 4 presents the descriptive statistics for the data used in the analysis. It discusses the empirical results for the detection of relationship between the macroeconomic variables and the GDP growth.

Finally, Chapter 5 summarises the empirical results for the study. It also discusses the implications, recommendations, limitations as well as future researches of the study. The chapter ends with a conclusion remarks for the entire study.