This dissertation consists of two research papers to examine the impact of fiscal policy on overall economic performance in ASEAN5+3 and Thailand. The relationship between fiscal policy and economic growth has been a highly contentious issue among economists. Main economic theories differ in their proposition on the role of fiscal policy. Classical economics believes that fiscal policy has no long-term implication on output growth, while Keynesian economics put forth its theory that fiscal policy does have both temporary and permanent impact on ...