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All Journal Proceeding ISETH (International Summit on Science, Technology, and Humanity)
Willy Kurniawan
Universitas Muhammadiyah Surakarta
Computer Science & IT Engineering Medicine & Pharmacology Social Sciences Other

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ASEAN-5 Economic Growth Determination 2019-2023 Willy Kurniawan; Eni Setyowati
Proceeding ISETH (International Summit on Science, Technology, and Humanity) 2025: Proceeding ISETH (International Summit on Science, Technology, and Humanity)
Publisher : Universitas Muhammadiyah Surakarta

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Abstract

This study analyzes the influence of Foreign Direct Investment (FDI), population growth, government spending, and unemployment rates on economic growth in five ASEAN countries-Indonesia, Malaysia, Singapore, Thailand, and Vietnam for the 2019-2023 period. The method applied is quantitative descriptive analysis with a panel data regression model through the Fixed Effect Model (FEM) approach. The findings of the study describe that FDI has a positive and significant effect on economic growth, indicating the importance of foreign investment in encouraging production and technology transfer. On the other hand, population growth and unemployment have a negative and significant effect, reflecting demographic pressures and weak labor absorption. Meanwhile, government spending had no significant effect, indicating fiscal policy inefficiencies during the COVID-19 pandemic. Overall, the study emphasizes the role of FDI as a key driver of economic growth and the need for effective human resource management in the ASEAN region.
Co-Authors Eni Setyowati