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All Journal Ilomata International Journal of Management Ilomata International Journal of Management IBLAM Law Review Journal of Knowledge and Collaboration
Bestari, Mohamad Fidelio Omar
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Decision Sciences, Operations Research & Management Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Social Sciences Other

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Journal : IBLAM Law Review

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Globalization and Digitalization in the Dynamics of Economic Welfare in ASEAN and BRICS Countries Bestari, Mohamad Fidelio Omar
IBLAM LAW REVIEW Vol. 5 No. 3 (2025): IBLAM LAW REVIEW
Publisher : Lembaga Penelitian dan Pengabdian Kepada Masyarakat (LPPM IBLAM)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52249/ilr.v5i3.654

Abstract

This study examines the dynamics of economic welfare in ASEAN and BRICS countries within the context of globalization and digitalization, as measured by per capita income, unemployment rates, and poverty levels. Employing a panel data regression method covering 15 countries over the period 2007–2024, the findings indicate that globalization and digitalization shape welfare patterns that are heterogeneous and highly dependent on country-specific characteristics. Globalization, represented by trade openness and foreign direct investment (FDI), is associated with increases in per capita income and reductions in unemployment, although its impact on poverty alleviation remains uneven. Meanwhile, digitalization, measured through internet penetration, demonstrates a significant positive association with income growth and poverty reduction, underscoring the role of digital technology in expanding economic inclusion. Beyond global factors, welfare dynamics are also influenced by domestic conditions, particularly the quality of governance and the effectiveness of social policies. These findings highlight the importance of integrated and adaptive development strategies that respond to global dynamics and digital transformation. Policy recommendations include strengthening institutional capacity, promoting joboriented investment, and expanding digital infrastructure and literacy to narrow socioeconomic disparities in the era of digital globalization.
Co-Authors Nuning Trihadmini Suhartoko, Yohanes Berchman Yohan Fitriadi Yusgiantoro, Inka Brahmantyo