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All Journal Formosa Journal of Multidisciplinary Research (FJMR)
Novlyzanta Chantika Prameswary
Universitas Negeri Surabaya
Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Education Social Sciences

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The Impact of Macroeconomic and Digital Economy Factors on the GDP of the ASEAN-5 Novlyzanta Chantika Prameswary; Ladi Wajuba Perdini Fisabilillah
Formosa Journal of Multidisciplinary Research Vol. 5 No. 4 (2026): April 2026
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjmr.v5i4.60

Abstract

The integration of the digital economy and macroeconomic factors is increasingly influencing economic growth in the ASEAN-5 region, particularly in Indonesia, Malaysia, Singapore, the Philippines, and Thailand. This phenomenon is worth studying given the region’s dependence on foreign investment, exchange rate stability, and internet adoption. This study aims to analyze the effects of FDI, exchange rates, inflation, and the number of internet users on GDP for the period 2014–2024. A quantitative approach using panel data regression with the Common Effect Model (CEM) was employed, utilizing Stata 14. The results indicate that FDI, exchange rates, and internet users have a positive and significant impact on GDP, while inflation has a negative but insignificant impact. These findings suggest that foreign investment, exchange rate stability, and digital economy adoption play a crucial role in driving regional economic growth, whereas inflationary pressures still need to be controlled.
Co-Authors Ladi Wajuba Perdini Fisabilillah