Economic Growth In ASEAN Countries Research Articles

Impact of Covid-19 on the Economic Growth of ASEAN Countries: Convergence or Divergence?

Impact of Covid-19 on the Economic Growth of ASEAN Countries: Convergence or Divergence?

The Effect of Foreign Direct Investment and Inflation on The Economic Growth of ASEAN Countries 2009-2020

This study aims to analyze the effect of foreign direct investment and inflation on economic growth in ASEAN countries. The analytical method used is a quantitative approach with multiple linear regression panel data method based on secondary data from foreign direct investment, inflation, and economic growth variables in 2009-2020. The analysis results show that FDI has no significant impact on the economic growth variable, and the inflation rate has a significant positive impact on the economic growth variable.

Thriving or Declining? Unraveling Corruption, Environmental Quality, Energy Consumption, and Economic Growth in ASEAN Countries

The current study is carried out to explore the link between Corruption,Environment quality. Energy consumption and economic growth in selectedAsean countries. In addition to that, the present study aims to highlight thedirect impacts of corruption upon environmental degradation, energyconsumption, and economic progress. For this purpose, the analyticalframework has been particularly used. Theoretically, environmental quality isexpected to be directly influenced by corruption using taxation andregulations, while corruption affects economic growth which in turn affectsthe quality of environment. Therefore, economic growth is negativelyinfluenced by the levels of corruptions. The higher the levels of corruption thelower will be the GDP level of an economy. This lower GDP level theninfluences the environmental quality, and thus confirms the EKC hypothesis.This paper has employed cointegration model for analyzing the associationbetween environmental quality, energy consumption, corruption, andeconomic growth for the data involving 5 ASEAN countries i.e. Malaysia,Thailand, Singapore, Philippines, and Indonesia for the years 1960-2021. Theliterature review has shown no empirical study that have employedcointegration model for examining the effects of corruption on energyconsumption, environmental quality, and economic growth. The findings ofthe study are in line with the proposed hypothesis. The study which is amongthe pioneering studies will be helpful for policymakers and researchers.

Thriving or Declining? Unraveling Corruption, Environmental Quality, Energy Consumption, and Economic Growth in ASEAN Countries

The current study is carried out to explore the link between Corruption, Environment quality. Energy consumption and economic growth in selected Asean countries. In addition to that, the present study aims to highlight the direct impacts of corruption upon environmental degradation, energy consumption, and economic progress. For this purpose, the analytical framework has been particularly used. Theoretically, environmental quality is expected to be directly influenced by corruption using taxation and regulations, while corruption affects economic growth which in turn affects the quality of environment. Therefore, economic growth is negatively influenced by the levels of corruptions. The higher the levels of corruption the lower will be the GDP level of an economy. This lower GDP level then influences the environmental quality, and thus confirms the EKC hypothesis. This paper has employed cointegration model for analyzing the association between environmental quality, energy consumption, corruption, and economic growth for the data involving 5 ASEAN countries i.e. Malaysia, Thailand, Singapore, Philippines, and Indonesia for the years 1960-2021. The literature review has shown no empirical study that have employed cointegration model for examining the effects of corruption on energy consumption, environmental quality, and economic growth. The findings of the study are in line with the proposed hypothesis. The study which is among the pioneering studies will be helpful for policymakers and researchers.

The Impact of Digitalization on Economic Growth in ASEAN

Purpose – The study aims to confirm a positive relationship between digitalization and economic growth in ASEAN. It seeks to provide insights into the challenges and future directions for ASEAN’s economic growth by examining the impact of digitalization through broadband penetration. Design/Methodology/Approach – This study employs regression analysis using a fixed-effect model with data sourced from World Development Indicators (WDI) and the United Nations Development Programme (UNDP), covering the period from 2008 to 2020. Its primary objectives are to offer a comprehensive understanding of the relationship between digital technologies and the economic development of ASEAN, and to identify factors contributing to economic growth in the region. The focus is on Southeast Asian countries, namely Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam Findings – The findings yield compelling evidence in support of the hypothesis, emphasizing the pivotal role of expanding broadband infrastructure in fostering economic growth across ASEAN countries. Furthermore, the study underscores the importance of enhancing broadband infrastructure and highlights the potential impact on the economic development of developing nations. It emphasizes the crucial role played by fixed-broadband, mobile-broadband, and fixedtelephone subscriptions in contributing to the economic growth of ASEAN countries. Research Implications – This study proves a significant positive relationship between digitalization and economic growth in the region. It offers a preliminary understanding of the impact of digitalization on economic growth in ASEAN, laying the groundwork for future research.

Foreign Direct Investment, Financial Development, and Economic Growth in ASEAN Countries

blished: Feb 28, 2024 Abstract Foreign direct investment can be a solution to overcome domestic capital limitations. The spillover effect from FDI does not necessarily exist but needs to be created. Advanced domestic financial development will encourage the positive influence of FDI on economic growth. This research analyzes the relationship between foreign direct investment, financial development, and economic growth in ASEAN countries from 1999 to 2019. Additionally, it also aims to analyze the effect of inflation, exchange rates, and human capital on economic growth. The research method uses panel data analysis using Fixed Effect Model (FEM). The research results show that foreign direct investment, exchange rates, and human capital have a positive and significant effect on economic growth. Inflation has a negative and significant effect on economic growth. Financial development strengthens the effect of foreign direct investment on economic growth. Thus, domestic financial development needs to be improved in order to maximize greater benefits from the presence of FDI.

Analisis Dampak Perdagangan Bebas ASEAN Terhadap Pertumbuhan Ekonomi Regional Tahun 2017-2021

The country certainly cannot be separated from the name of international trade. ASEAN, which is an organization of countries in Southeast Asia, is interdependent with each other. Cooperation between ASEAN countries covers various fields such as economics, politics, socio-culture, security and education. However, the main motive for this interdependence is motivated by economic and political factors. This interaction can be created well because it is influenced by the national interests of each country. Economic growth is also one of the goals that every country always wants to achieve. There are several indicators of the theoretical framework in the economic growth of ASEAN countries, including Foreign Direct Investment, results of exports and imports or international trade, as well as the country's per capita income (GDP per capita). A single direct investment or capital investment from one country to another can also make a major contribution to a country's development, through the transfer of assets, technology and managerial skills to increase the country's economic growth. Meanwhile, imports and exports can increase state income and the state's financial circulation can circulate well. Gross Domestic Product (GDP) is also an important indicator as proof of whether a country is progressing or not. Therefore, this research functions to analyze the impact or influence of free or international trade and economic growth in the ASEAN region in 2017-2021. The data used in this research is secondary data, obtained from the results of literature studies, journals, books and official sites or websites. The method used in this research is the multiple regression analysis method (OLS). Based on the known methods used, supported by the data obtained, it can be seen that international trade factors have a major impact on regional economic growth in the ASEAN region.

The Impact of FDI on Economic Growth in ASEAN Countries in The Period 2011-2021

The article assesses the impact of FDI on economic growth of some countries in the ASEAN area in the period 2011 - 2021 (including 11 countries). Using quantitative tools with the use of fixed (FE) and random (RE) estimation models for analysis to shows that FDI, population and inflation rate affect on FDI of ASEAN countries. From those results, the article makes some suggestions in order to attract FDI to ASEAN countries in the future.

The impact of digitalization and economic openness on economic growth in ASEAN countries

Digitalization with the Sustainable Development Goals (SDGs) Program is an essential means of encouraging the government to operate more openly and effectively, which can increase global economic growth. This research aims to assess how education, digitalization, and trade openness affect the economic development of ASEAN. This study uses independent variables in the form of government spending on education, individual internet users, foreign direct investment and consumer price inflation. The dependent variable is economic growth. This study uses the panel data regression method, from 2001 to 2020, with a cross-section of 7 ASEAN countries (Indonesia, Malaysia, Thailand, Laos, Singapore, the Philippines and Cambodia). According to the study, the economic growth in seven ASEAN countries is significantly influenced by government expenditure on education, individual internet users, and foreign direct investment. Empirical evidence confirms that digitalization positively impacts both the economy and society, as reflected in lower unemployment rates, improved quality of life, and increased access to public services and information. Furthermore, digitalization simplifies learning about various aspects and activities related to conducting trade, thereby contributing to economic growth. The limitation of the study is that there is no categorizing between developed and developing countries with different income groups that lead to different digital technology developments.

The Impact of Environmental Performance on Economic Growth: A Study of ASEAN Countries

The aim of this study is to explore the effect of environmental performance on economic growth, the effect of environmental performance on health expenditure, the effect of health expenditure on economic growth, and the role of health expenditure in mediating the effect of environmental performance on economic growth. The study uses a quantitative research method with a verification approach and utilizes secondary data from the World Bank Indicator. Purposive sampling has been used in this study, and the sample involved countries from the ASEAN region. The statistical analysis tool used in this study is EViews version 12. The results indicate that environmental performance has an impact on economic growth, that environmental performance affects health expenditure, that health expenditure has an impact on economic growth, and that health expenditure can mediate the impact of environmental performance on economic growth. According to the study's findings, ASEAN companies must reduce the environmental damage caused by their activities in order to improve their environmental performance, which will help boost economic growth in ASEAN countries

Do Corruption and Institutions Contribute to the Economic Growth in ASEAN Countries During 2000-2018?

This study attempts to estimate the impact of corruption and institutions on economic growth in ASEAN countries during 2000-2018. The corruption perception index and six indicators of institutions are utilized. The basic empirical model is derived from the theory of the Solow Growth Model. Two econometrics techniques were employed: statics panel data and panel-vector autoregression. The findings exhibit that the corruption perception index does not contribute to economic growth. Conversely, some institutional indicators (voice and accountability and control of corruption) significantly impact economic growth under random effects model estimation. Moreover, the quality of regulation and the fight against corruption have a significant impact on economic growth in terms of panel-vector autoregression. Therefore, governments should strengthen anti-corruption institutions and raise the standard of institutions on both a national and an ASEAN level.

The Influence of Population, Exports, and Regulatory Quality on Economic Growth in ASEAN Developing Countries

This study aims to analyze the effect of population, export and regulatory quality on economic growth in 5 ASEAN developing countries for the 2015-2020 period. The analysis technique used is Multiple Regression Analysis with the Ordinary Least Square (OLS) method with the FEM model. The results in this study indicate that partially population has a negative and significant effect on the economic growth of ASEAN countries for the 2015-2020 period, exports have a positive and significant effect on the economic growth of ASEAN countries for the 2015-2020 period, and the regulatory quality has a positive and no effect significant to the economic growth of ASEAN countries in the 2015-2020 period. Then collectively population, exports, and the regulatory quality have a significant effect on the economic growth of ASEAN countries for the 2015-2020 period.

What is the Role of Tourism, Foreign Direct Investment, and Institutions in Economic Growth in ASEAN?

This type of research is quantitative descriptive. This study looks at the impact of tourism, foreign direct investment, and institutions on economic growth in ASEAN. The scope of this research is 10 ASEAN member countries from 2003-2021. This study uses five independent variables: international tourism receipts, Feign Direct Investment (FDI), the rule of law, government effectiveness, and regulatory quality. The dependent variable is GDP as a proxy for economic growth. The data used is secondary data sourced from the World Bank. The analytical method used is the panel data regression analysis method. Based on the results of this study, it was found that international tourism receipts, foreign direct investment, the rule of law, government effectiveness, and regulatory quality together affected GDP as a proxy for economic growth in ASEAN countries in 2003-2021. Partially, international tourism receipts, the rule of law, and government effectiveness positively and significantly affect economic gr. In contrast, FDI and regulatory quality have yet to influence economic growth in ASEAN countries from 2003-2021.

What is the Short-term and Long-term Relationship between Renewable Energy and Investment in Economic Growth?

The topics of energy, environment, natural resources, and economics have recently remained a topic of conversation. Thus, this study aims to determine the short-term and long-term influence between sustainable energy, CO2, oil rents, and investment on economic growth in ASEAN countries. Based on the purpose of the study, this study used the Vector Error Correction Model (VECM) method with the help of Eviews 10. All variables used in this study were cointegrated in the long term. So that renewable energy consumption helps economic growth in ASEAN countries; in other words, renewable energy consumption positively affects economic growth over time. Meanwhile, environmental damage proxied by CO2 hinders economic growth in the long run. This study also shows that ASEAN countries do not experience the curse of natural resources. This can be seen from the value of oil rents has a significant positive effect on economic growth. Meanwhile, investment in ASEAN has not improved the economy, so collaboration from all parties is needed to realize the welfare of the people projected with increased economic growth.

The Effect of Foreign Direct Investment and Foreign Exchange Reserves on Economic Growth in ASEAN Countries

This study aims to examine the effect of foreign direct investment (FDI) and foreign exchange reserves on economic growth in ASEAN countries during the 1995-2021 period. Estimation results on modeling Autoregressive Distributed Lag (ARDL) show that in the long run foreign exchange reserves have a significant positive relationship with economic growth whereas FDI in the long run has no effect on economic growth. The short-run estimation results show that foreign exchange reserves have no effect on economic growth, while FDI in the short run has a significant positive relationship with economic growth. FDI and foreign exchange reserves need to be increased in ASEAN countries to encourage economic growth.

Corruption Mudhorot for Economic Growth in 7 ASEAN Countries

Corruption is a detrimental act for many people, especially related to the economy. Various groups widely discuss corruption and economic growth from academia, government, and the private sector. This is even more complex when coupled with competitiveness between countries and democratic systems. So this study aims to analyze the mudhorot of corruption and the influence of global competitiveness and democracy on economic growth in ASEAN countries. This study used panel data analysis methods in 7 ASEAN countries from 2014-2019. The seven countries are Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Laos, and Cambodia. It is related to economic growth, corruption, and competitiveness in ASEAN countries. The results of this study show that corruption brings mudhorot but has yet to be significant to economic growth. Another interesting finding is that democracy negatively affects global competitiveness and increases economic growth. This research can be one of the government’s policy recommendations by increasing economic growth through strict enforcement against corruption and increasing global competitiveness. To realize economic growth that prospers society requires the role of the government through increasing human and institutional resources to support other competitiveness factors that focus on technological, environmental, and innovation aspects.

A modified generalized estimating equation approach for simultaneous spatial durbin panel model: Case study of economic growth in ASEAN countries

This article briefly explains the simultaneous spatial durbin panel (SSDP) model. The study of the SSDP model is substantial because it can explain the interaction between geographic units, is more informative, diverse, efficient, exhaustive, and accurate in reaching conclusions that influence the policy determination. This article’s intention is to derive a parameter estimation method from the SSDP model using a modified generalized estimating equation approach, which is then used to model economic growth in ASEAN nations. This article compares the SSDP model with rook contiguity, 2-nearest neighbors, and a customized spatial weighted matrix in relation to an independent, first-order autoregressive, exchangeable working correlation structure. To model economic growth in ASEAN countries, a customized weighted matrix with first-order autoregressive and exchangeable working correlations is chosen based on the CIC value. The parameter analysis outcomes indicate: 1) it is a significant spatial dependence among ASEAN countries; 2) it is a significant simultaneous interaction among the gross domestic product (GDP) and foreign direct investment (FDI); 3) GDP has a greater influence on FDI than FDI does on GDP; 4) The economic growth is directly affected by the labor force total; and 5) trade openness has a direct effect on FDI.

Does China’s CAFTA strategy threaten or promote the development of high-tech industries in ASEAN countries?

ABSTRACTWith the continuous advancement of the CAFTA strategy, the relationship between China and ASEAN countries have gradually strengthened, and the trade exchanges between the two sides have developed rapidly, thereby promoting the economic growth of ASEAN countries in the region. This paper uses differences-in-differences method and HS-6 customs statistical code to study the development of China-ASEAN high-tech industries from 1998 to 2017. It turns out that the establishment of the CAFTA has played a positive role in promoting the development of high-tech industries in ASEAN countries. The specific performance is that China and ASEAN countries have closer trade exchanges, and the trade in computer communication technology and electronic technology has become the fastest developing foreign trade sector. In addition, it is found that low economic level and low education level countries will be affected more significantly by the establishment of CAFTA.

The Impact of Capital Flows from Commercial Banks and FDI on Sustainable Economic Growth in ASEAN Countries

The paper is aimed at assessing the impact of capital flows from commercial banks and FDI on sustainable economic growth in ASEAN countries. The study has conducted quantitative secondary analysis on data collected from 1980 to 2018 for Thailand, Vietnam and Malaysia. Descriptive statistics, correlation and ARDL are applied to measure the impact of each variable on sustainable economic growth. The study has shown a significant long-run relationship of short-term debt, long-term debt, technology, capital flows and savings and investment on sustainable economic growth. Short-term debt is found to have a negative impact in the long run. The short-run relationship between long-term debt, short-term and sustainable economic growth is significant while insignificant for all other variables. The study is useful for countries that are aiming for sustainable economic growth since all the factors are helpful to consider. Future researchers can use other regions to empirically examine the same model. The study is focused on only 3 countries from ASEAN countries and is only focused on one region. As economic and political scenarios different, results might not be same in other parts of the world.

Tourism and Economic Growth: Evidence from ASEAN countries

Tourism has become an important sector in the economy over recent decades, but the impact of tourism on economic growth is still debated. The purpose of this paper is to investigates the long-run relationship between tourism and economic growth in ASEAN countries as well as the causal linkages between them. This study uses panel Autoregressive Distributed Lag (panel ARDL) and data from the World Tourism Organization and the World Development Indicator. The results suggest that tourism has significant and positive impact on economic growth in the long run. Furthermore, the results also indicate that there is bidirectional causality between inbound tourism and economic growth.