Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach

This study aims to analyze the factors determining economic growth in ASEAN countries, which are the ASEAN economic community members as a potential center for world economic growth. The research method applied in this study was a panel data analysis model with a feasible generalized least square ap...

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Autores principales:	Yuliadi Imamudin, Yudhi Wahdi Salasi April
Formato:	article
Lenguaje:	EN FR
Publicado:	EDP Sciences 2021
Materias:	Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/20e0f777ebad48e29bcb24c199c6eed6
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spelling	oai:doaj.org-article:20e0f777ebad48e29bcb24c199c6eed62021-11-08T15:19:27ZEconomic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach2267-124210.1051/e3sconf/202131601019https://doaj.org/article/20e0f777ebad48e29bcb24c199c6eed62021-01-01T00:00:00Zhttps://www.e3s-conferences.org/articles/e3sconf/pdf/2021/92/e3sconf_iconard2021_01019.pdfhttps://doaj.org/toc/2267-1242This study aims to analyze the factors determining economic growth in ASEAN countries, which are the ASEAN economic community members as a potential center for world economic growth. The research method applied in this study was a panel data analysis model with a feasible generalized least square approach. The research period was from 2015 – 2019 in all ASEAN member countries: Indonesia, Myanmar, Malaysia, Singapore, Thailand, Laos, Vietnam, Cambodia, Brunei Darussalam, and the Philippines. Testing the data used the Chow and Hausman tests to determine the analysis method: fixed effect, random effect, or common effect. The results of panel data regression estimation with a feasible generalized least square approach uncovered that the variables of the number of the labor force, currency exchange rates, money supply (M1), exports, imports, Gini index, foreign debt, corruption perception index, financial literacy index, and foreign investment (PMA) significantly affected the economic growth of the ASEAN economic community, including develop agriculture sector. Meanwhile, the variables of domestic investment and financing credit did not affect the economic growth of the ASEAN economic community. The conclusion and recommendation from this study’s results are each ASEAN country’s efforts to encourage economic growth by utilizing its comparative advantages and strategic cooperation to create market opportunities and increase the economic efficiency of the ASEAN economic community.Yuliadi ImamudinYudhi Wahdi Salasi AprilEDP SciencesarticleEnvironmental sciencesGE1-350ENFRE3S Web of Conferences, Vol 316, p 01019 (2021)
institution	DOAJ
collection	DOAJ
language	EN FR
topic	Environmental sciences GE1-350
spellingShingle	Environmental sciences GE1-350 Yuliadi Imamudin Yudhi Wahdi Salasi April Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach
description	This study aims to analyze the factors determining economic growth in ASEAN countries, which are the ASEAN economic community members as a potential center for world economic growth. The research method applied in this study was a panel data analysis model with a feasible generalized least square approach. The research period was from 2015 – 2019 in all ASEAN member countries: Indonesia, Myanmar, Malaysia, Singapore, Thailand, Laos, Vietnam, Cambodia, Brunei Darussalam, and the Philippines. Testing the data used the Chow and Hausman tests to determine the analysis method: fixed effect, random effect, or common effect. The results of panel data regression estimation with a feasible generalized least square approach uncovered that the variables of the number of the labor force, currency exchange rates, money supply (M1), exports, imports, Gini index, foreign debt, corruption perception index, financial literacy index, and foreign investment (PMA) significantly affected the economic growth of the ASEAN economic community, including develop agriculture sector. Meanwhile, the variables of domestic investment and financing credit did not affect the economic growth of the ASEAN economic community. The conclusion and recommendation from this study’s results are each ASEAN country’s efforts to encourage economic growth by utilizing its comparative advantages and strategic cooperation to create market opportunities and increase the economic efficiency of the ASEAN economic community.
format	article
author	Yuliadi Imamudin Yudhi Wahdi Salasi April
author_facet	Yuliadi Imamudin Yudhi Wahdi Salasi April
author_sort	Yuliadi Imamudin
title	Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach
title_short	Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach
title_full	Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach
title_fullStr	Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach
title_full_unstemmed	Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach
title_sort	economic growth determinants of asean economic community: feasible generalized least square approach
publisher	EDP Sciences
publishDate	2021
url	https://doaj.org/article/20e0f777ebad48e29bcb24c199c6eed6
work_keys_str_mv	AT yuliadiimamudin economicgrowthdeterminantsofaseaneconomiccommunityfeasiblegeneralizedleastsquareapproach AT yudhiwahdisalasiapril economicgrowthdeterminantsofaseaneconomiccommunityfeasiblegeneralizedleastsquareapproach
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Economic Growth Determinants of Asean Economic Community: Feasible Generalized Least Square Approach

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