Citation:

Syadan Ismail, Lilies Setiartiti. "Factors Promote the Economic Growth: What the Asian Countries Tell in 2010-2019" International Research Journal of Economics and Management Studies, Vol. 3, No. 3, pp. 101-108, 2024.

Abstract:

The income level within an economy at any given moment is a reflection of the cumulative income growth over time. Therefore, investigating the factors that contribute to higher income is essentially an exploration of what promotes economic growth. This study aims to enhance our comprehension of the drivers of economic growth in ASEAN countries by incorporating variables such as Foreign Direct Investment, Labor Force, Foreign Debt, and Economic Freedom. To achieve the aims we conducted an annual data spanning from 2010 to 2019, using multiple regression analysis. The findings indicate that foreign investment, foreign debt, a qualified workforce, and economic freedom all have a positive and statistically significant influence on the economic growth of ASEAN countries. However, it is important to note that capital, as represented by foreign direct investment, has no significant impact on the economic growth of ASEAN countries.

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Keywords:

Economic Growth, ASEAN, Investigating, Promotes.