72Dutch Disease Investigated: Empirical Evidence from Selected South-East Asian Economies Money and Quasi Money Growth is the average annual growth rate in money and quasi money. Money and quasi money comprise the sum of currency outside banks, demand deposits other than those of the central government, and the time, savings, and foreign currency deposits of resident sectors other than the central government. The change in the money supply is measured as the difference in end of year totals relative to the level of M2 in the preceding year. GDP Growth is the annual percentage growth rate of GDP at market prices based on constant 1987 local currency. Aggregates are based on constant 1987 U.S. dollars. GDP measures the total output of goods and services for final use occurring within the domestic territory of a given country, regardless of the allocation to domestic and foreign claims. Gross domestic product at purchaser values (market prices) is the sum of gross value added by all resident and nonresident producers in the economy plus any taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Excess Money Growth (EXMGR) is estimated as the difference between money growth and GDP growth. Trade openness (TROP) is calculated as the ratio, sum of exports and imports to GDP. Government final consumption expenditure (FCE) is the sum of household final consumption expenditure and general government expenditure.
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Journal of Economic Cooperation and Development73 Appendix (B) -5051015-5051015198019902000201019801990200020101980199020002010PakistanBangladeshindiaindonesiaPhilippineMalaysiaODArem gdpfdigdpYearFigure 1: Different Foreign inflows02004006000200400600198019902000201019801990200020101980199020002010PakisatanBangladeshIndiaIndonesiaPhilippineMalaysiaYearFigure 2: Trend of Real Exchange Rate
74Dutch Disease Investigated: Empirical Evidence from Selected South-East Asian Economies 30405060703040506070198019902000201019801990200020101980199020002010PakistanBangladeshIndiaIndonesiaPhilippineMalaysiaTDNTDYearFigure 3: Percentage Share of Tradable and Non-Tradable2040608020406080198019902000201019801990200020101980199020002010PakistanBangladeshindiaindonesiaPhilippineMalaysiaEmp TDEmp NTDYearFigure 4: Percentage change in Employment
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