Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0
Purpose: This research aims to analyze the influence of inflation, labor, foreign direct investment (FDI), and external debt on economic growth in ASEAN countries during fintech 3.0 period. Method: This research employs a quantitative approach. The study includes 176 observations, comprising 11 cro...
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| Format: | Article |
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Universitas Islam Negeri (UIN) Mataram, Faculty of Islamic Economics and Business
2025-01-01
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| Series: | Journal of Enterprise and Development |
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| Online Access: | https://journal.uinmataram.ac.id/index.php/jed/article/view/12710 |
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| author | Aziz Zidan Maulana Ida Ayu Putri Suprapti |
| author_facet | Aziz Zidan Maulana Ida Ayu Putri Suprapti |
| author_sort | Aziz Zidan Maulana |
| collection | DOAJ |
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Purpose: This research aims to analyze the influence of inflation, labor, foreign direct investment (FDI), and external debt on economic growth in ASEAN countries during fintech 3.0 period.
Method: This research employs a quantitative approach. The study includes 176 observations, comprising 11 cross-sectional units and 16 time series units. For data analysis, a panel data regression model is utilized, incorporating three approaches: the Common Effect Model (CEM), Fixed Effect Model (FEM), and Random Effect Model (REM). Based on the results, the Fixed Effect Model (FEM) is identified as the best model. The data used in this study are secondary data obtained from international institutions such as the World Bank, Asian Development Bank (ADB), and International Monetary Fund (IMF).
Result: The results indicate that inflation has a negative but insignificant effect on economic growth, while labor has a significant negative effect. In contrast, foreign direct investment (FDI) and external debt demonstrate significant positive effects, underscoring the importance of strategic management of these two variables to promote economic growth.
Practical Implications for Economic Growth and Development: The research provides recommendations for consistently managing inflation, enhancing technology-based education and training for the workforce, and maximizing the benefits of FDI through strategic management. Additionally, the prudent use of external debt to finance productive sectors, particularly infrastructure, is crucial for promoting inclusive and sustainable economic development in the ASEAN region.
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| format | Article |
| id | doaj-art-b23996d58eb14ecfb5ea5bad8b2c3412 |
| institution | Kabale University |
| issn | 2715-3118 2685-8258 |
| language | English |
| publishDate | 2025-01-01 |
| publisher | Universitas Islam Negeri (UIN) Mataram, Faculty of Islamic Economics and Business |
| record_format | Article |
| series | Journal of Enterprise and Development |
| spelling | doaj-art-b23996d58eb14ecfb5ea5bad8b2c34122025-01-23T08:37:18ZengUniversitas Islam Negeri (UIN) Mataram, Faculty of Islamic Economics and BusinessJournal of Enterprise and Development2715-31182685-82582025-01-017110.20414/jed.v7i1.12710Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0Aziz Zidan Maulana0Ida Ayu Putri Suprapti 1University of Mataram, IndonesiaUniversity of Mataram, Indonesia Purpose: This research aims to analyze the influence of inflation, labor, foreign direct investment (FDI), and external debt on economic growth in ASEAN countries during fintech 3.0 period. Method: This research employs a quantitative approach. The study includes 176 observations, comprising 11 cross-sectional units and 16 time series units. For data analysis, a panel data regression model is utilized, incorporating three approaches: the Common Effect Model (CEM), Fixed Effect Model (FEM), and Random Effect Model (REM). Based on the results, the Fixed Effect Model (FEM) is identified as the best model. The data used in this study are secondary data obtained from international institutions such as the World Bank, Asian Development Bank (ADB), and International Monetary Fund (IMF). Result: The results indicate that inflation has a negative but insignificant effect on economic growth, while labor has a significant negative effect. In contrast, foreign direct investment (FDI) and external debt demonstrate significant positive effects, underscoring the importance of strategic management of these two variables to promote economic growth. Practical Implications for Economic Growth and Development: The research provides recommendations for consistently managing inflation, enhancing technology-based education and training for the workforce, and maximizing the benefits of FDI through strategic management. Additionally, the prudent use of external debt to finance productive sectors, particularly infrastructure, is crucial for promoting inclusive and sustainable economic development in the ASEAN region. https://journal.uinmataram.ac.id/index.php/jed/article/view/12710fintech 3.0ASEANeconomic growthpanel datainflation |
| spellingShingle | Aziz Zidan Maulana Ida Ayu Putri Suprapti Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0 Journal of Enterprise and Development fintech 3.0 ASEAN economic growth panel data inflation |
| title | Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0 |
| title_full | Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0 |
| title_fullStr | Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0 |
| title_full_unstemmed | Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0 |
| title_short | Do Inflation, Labor, FDI, and External Debt Influence Economic Growth? Evidence from ASEAN Countries During the Fintech 3.0 |
| title_sort | do inflation labor fdi and external debt influence economic growth evidence from asean countries during the fintech 3 0 |
| topic | fintech 3.0 ASEAN economic growth panel data inflation |
| url | https://journal.uinmataram.ac.id/index.php/jed/article/view/12710 |
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