Abstract
This study investigates the impact of globalization toward economic growth in ASEAN countries during 2012 to 2017. The research method used judgmental sampling with samples of 11 countries. They were Brunei Darussalam, Cambodia, East Timor, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The analysis used path analysis to examine the impact between the variables of globalization and economic growth. Globalization was determined by globalization index, economic globalization, social globalization, and politic globalization. Real Gross Domestic Product (GDP) and Gross Domestic Product (GDP) per capita are used as a proxy for economic growth. The finding results are that globalization index, economic globalization, social globalization, and politic globalization have a significant positive association with Gross Domestic Product (GDP) and Gross Domestic Product (GDP) per capita. Overall globalization evidence the positive impact on economic growth in ASEAN Countries.
Highlights
ASEAN (Association of Southeast Asia Nations) is an organization of countries in Southeast Asia i.e. Brunei Darussalam, Cambodia, East Timor, Indonesia, Lao PDR (People’s Democratic Republic), Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam
The results show that in ten ASEAN member countries, economic globalization has a positive influence on economic growth, while social and political globalization has a negative effect
This study attempts to analyze the impact of globalization on economic growth in ASEAN countries during 2012 to 2017
Summary
ASEAN (Association of Southeast Asia Nations) is an organization of countries in Southeast Asia i.e. Brunei Darussalam, Cambodia, East Timor, Indonesia, Lao PDR (People’s Democratic Republic), Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. The establishment of this regional organization aims to increase multilateral cooperation between countries in the Southeast Asian region. Global developments experienced by countries in Southeast Asia make this region need to conduct economic cooperation in the international world, given the importance of trade with other countries both in Southeast Asia and outside of Southeast Asia. The Southeast Asia region must be an attractive market for foreign investment
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