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All Journal Local Economic Advancement & Development Research
Mainovendri
Sekolah Tinggi Ilmu Ekonomi Sakti Alam Kerinci

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The Role of Farmer Exchange Rate and Economic Growth in Improving Human Development Index: Evidence from Regencies/Cities in Jambi Province Mainovendri
Local Economic Advancement & Development Research Vol. 1 No. 1 (2026): Journal of Local Economic Advancement & Development Research
Publisher : CV. Visionary Raya Sakti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.67983/leader.v1i1.90

Abstract

This study aims to analyze the effect of capital expenditure, farmers’ terms of trade, and economic growth on the Human Development Index (HDI) across regencies and cities in Jambi Province. The study employs secondary panel data covering 11 regencies/cities over the period 2020–2024, obtained from the Central Statistics Agency (BPS) and the Directorate General of Fiscal Balance. The analytical methods include descriptive analysis and panel data regression using the Pooled Least Squares (PLS), Fixed Effect Model (FEM), and Random Effect Model (REM). Model selection was conducted through the Chow test, Hausman test, and Lagrange Multiplier test, which indicate that the Fixed Effect Model (FEM) is the most appropriate specification. The estimation results reveal that capital expenditure, farmers’ terms of trade, and economic growth jointly have a significant effect on HDI. Partially, farmers’ terms of trade and economic growth exhibit a positive and statistically significant effect on HDI at the 10 percent significance level, while capital expenditure shows no significant effect. These findings suggest that improvements in farmers’ welfare and regional economic growth play a crucial role in enhancing human development, whereas the effectiveness of capital expenditure allocation requires further evaluation to generate a more tangible impact on human development outcomes.
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