Puji Desta Ananda
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Kompleksitas Ekonomi, Industrialisasi, dan Investasi Asing: Studi Empiris pada Negara ASEAN-8 Ibni Sahara; Meifina Dwi Rezky; Amanda Dewi Lestari; Puji Desta Ananda; Nazeli Adnan
Jurnal Ekonomi, Akuntansi, dan Perpajakan Vol. 3 No. 2 (2026): Mei : Jurnal Ekonomi, Akuntansi, dan Perpajakan (JEAP)
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/jeap.v3i2.2242

Abstract

Economic growth in ASEAN countries has shown heterogeneous dynamics, particularly in the post-pandemic period. This study aims to analyze the effect of economic complexity, manufacturing value added, and foreign direct investment on economic growth in ASEAN-8 countries during 2015–2024. The study employs a quantitative explanatory approach using panel data regression analysis. The data were obtained from the World Development Indicators (World Bank) and Harvard Growth Lab. Based on the Chow and Hausman tests, the Fixed Effect Model (FEM) was selected as the best estimation model. The results indicate that economic complexity has a negative and significant effect on economic growth, suggesting that increasing economic sophistication does not automatically promote growth when industrial and institutional readiness remain limited. Meanwhile, the manufacturing sector has a positive but insignificant effect on economic growth. In contrast, foreign direct investment has a positive and significant effect on economic growth through capital accumulation and technology transfer. Simultaneously, all independent variables significantly affect economic growth in ASEAN-8 countries. These findings imply the importance of strengthening industrial capacity, institutional quality, and technological readiness to support sustainable economic growth in ASEAN countries.