Human Development Index, good governance practice and export: Evidence from ASEAN countries

Abstract

This study examines the effect of the human development index and good governance practices on exports in several ASEAN countries. The data were collected from some sources, including the United Nations Development Program, World Development Indicator, and Worldwide Governance Indicators, from 2010 to 2021. The acquired data were further estimated using a regression panel. The results indicate that human development has an effect on exports. While some good governance practice variables, including political stability and the absence of violence/terrorism, and regulatory quality can explain exports in several ASEAN countries. However, voice and accountability, government effectiveness, and the rule of law do not affect exports. The analysis shows that, simultaneously, the human development index and good governance practices can have an effect on exports in several ASEAN countries. It helps policymakers identify specific areas where investment is needed to improve economic growth and export competitiveness. Understanding human development and governance practices could boost the trust and confidence of foreign investors and trading partners, hence fostering economic cooperation and integration among ASEAN nations and the global community.