Examining the Relationship Between Oil Price Volatility and Economic Growth in Selected ASEAN Countries

The trade cycle and monetary policy paved the way for asymmetry in the behavior of oil prices.On the support, it can increase the rate that does not cause inflation and inflation of any requested policy stimulus.We use the Panel Vector Autoregressive (PVAR) model to analyze price dynamics on economic movements in annual data for 2008 -2023 in four ASEAN countries.Our results show an asymmetry between oil prices and economic growth, as indicated by the PVAR and IRF test values.Our policy recommendations for these countries need to be carried out to reduce dependence on oil as a factor of production.