Özet:

This paper investigates the stochastic properties of the consumption–income ratio for a sample of 9 Southeast Asia countries (Bruney, Endonezya, Filipinler, Kamboçya, Laos, Malezya, Singapur, Tayland ve Vietnam) over the period 1970-2010. For that purpose, we employ panel LM unit root test proposed by Im et al. (2005). Our findings suggest that, the consumption–income ratio is stationary in all of the countries. Thus, average propensity to consume converges towards a constant in the long run and shocks does not make permanent effect. These results supportes the relative income hypothesis, the permanent income hypothesis and the life cycle hypothesis.

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