Year: 2025
Type: article
Abstract: The purpose of this study is to investigate the determinants of economic growth in nine Asian countries during two observation periods, namely from 1976 to 2021 for absolute convergence and from 2002 to 2021 for conditional convergence. The analysis employed three types: Pooled OLS, Fixed Effects (FEM) model, and Random Effects (REM) model. The results of this study's analysis indicate that government consumption, the ratio of exports to imports, and population have a significant influence on GDP growth per capita. Moreover, the existence of absolute and conditional convergence in several time periods explains the relationship with economic growth. The interaction between colonialism and the export-import ratio showed a significant positive influence, while the interaction with the rule of law showed a significant negative impact. The policy recommendations of this study are that we must continue to improve the efficiency of government spending, strategic investments in productive sectors, and legal reforms to create a conducive investment environment. This research underscores the need to expand the scope of data and adopt a more comprehensive methodology to investigate the dynamics of achieving sustainable economic growth in the future.
DOI: 10.14419/nm5x4s21
Authors: Rizqon Halal Syah Aji, Najwa Khairina, Rizki Dito Subekti, Al Amin, Titik Nurhayati
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4416297935
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