@article{Tsen_2008, title={The Relationship between Terms-of-Trade and Trade Balance in Asean-5}, volume={15}, url={https://e-journal.uum.edu.my/index.php/ijms/article/view/9862}, abstractNote={<div>This study investigated the relationship between terms-of-trade and trade balance in the ASEAN-5, namely Indonesia, Malaysia, the Philippines, Singapore, and Thailand, using time series data. Moreover, this study examined the Granger causality between terms-of-trade and trade balance. This study uses commodity terms-of-trade. The results showed that there is a long-run relationship between terms-of-trade and trade balance in the ASEAN-5, except for Indonesia and Singapore. Furthermore, the results showed that Granger causality between terms-of-trade and trade balance is mixed. The mixed results of the relationship between terms-of-trade and trade balance are consistent with the ongoing debate in the literature of terms-of-trade and trade balance.</div> <p> </p>}, number={1}, journal={International Journal of Management Studies}, author={Tsen, Wong Hock}, year={2008}, month={Jun.}, pages={1–19} }