Abstract
Education is the basic capital to create quality economic growth. Skillful and competitive human resources are a source of basic capital to create religious industrial technological innovation in order to support quality economic growth. This study aims to (1) analyze the relationship between education and growth in Indonesia and (2) compile a formulation of education policy as an important driving factor in long-term growth. The observation units analyzed were 33 provinces in Indonesia in the period 2013-2015. The data is then analyzed using the Data Analysis Panel approach. The results showed that the level of prosperity and prosperity was positively correlated with regional economic growth. This shows that the more qualified human development and increasing prosperity, the better economic growth in the region. Furthermore, the better the quality of education, the better economic growth. This result is inversely proportional to the large number of universities where the number of tertiary institutions does not have an influence on regional economic growth. This shows that the number of universities does not have a positive effect if it is not balanced with the number of qualified lecturers.
Highlights
Indonesia is the largest country in Southeast Asia, both from the aspect of area, population to natural resources
What was observed was a change in the prosperity of the community in 33 provinces in Indonesia during the period 2013-2016, which was associated with educational variables and economic conditions in these provinces
The results of this study indicate that human resources are getting better, as a result of improved quality of education, proxied through a smaller ratio of lecturers and students giving a good influence on regional and national economic growth in aggregate
Summary
Indonesia is the largest country in Southeast Asia, both from the aspect of area, population to natural resources. Indonesia and various parts of Indonesia are still considered "still slow to develop" when compared to other Southeast Asian countries such as Singapore, Thailand and Malaysia. The delay is mainly in the education sector and the quality of economic growth. This comparison can be seen clearly from the side of education expenditure on the Gross Domestic Product (GDP) among the 5 ASEAN countries. Indonesia is ranked fourth after (1) Thailand, (2) Malaysia and (3) Singapore
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