DOI: 10.36347/sjebm.2018.v05i05.002

Pages: 354-361

The purpose of this paper is to measure the resiliency of the ASEAN – 5 countries from economic stability perspective. Based on engineering economic resilience and the business cycle of conventional Keynesian theory, economic resilience can be perceived into two dimensions which are shock amplification and shock persistent. Shock of amplification pertain the size of economic deviation from equilibrium due to shocks. A low resilience country tends to associate with high shock amplification. Meanwhile, shock persistent is duration of economic deviation from equilibrium. A prolonged shock persistent cause a country to be less resilient. By using seemingly unrelated regression for 1981 – 2014 period, this study found that Malaysia is the highest shock amplification among the ASEAN – 5 which is followed by Thailand and Singapore. In contrast, Indonesia and the Philippines are the lowest shock amplification. In term of size of shock persistent, the result revealed that Singapore is the highest whereas, the size of shock persistent in Malaysia and Indonesia are the lowest among the ASEAN – 5 countries.