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All Journal Economic Development Analysis Journal
Lilis Hoeriyah
Institut Pertanian Bogor
Economics, Econometrics & Finance

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Economic Complexity and Sustainable Growth in Developing Countries Lilis Hoeriyah; Nunung Nuryartono; Syamsul Hidayat Pasaribu
Economics Development Analysis Journal Vol 11 No 1 (2022): Economics Development Analysis Journal
Publisher : Economics Development Department, Universitas Negeri Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v11i1.47294

Abstract

Most developing countries in this study are middle to low-income countries that have a relatively low economic complexity. This study aims to analyze the effect of the economic complexity on economic growth in 86 developing countries in 2010-2019. The method used is the Generalized Method of Moments (GMM) to capture dynamic panel analysis. The estimation results using the System GMM show that economic complexity has a positive effect on economic growth in developing countries. Increasing economic complexity encourages a structural transformation through high value-added economic sectors' creation to produce more complex products for earning a higher income. Human capital does not have a significant effect on economic growth because developing countries have relatively low-quality workers both in terms of education and health. The human capital development and government spending on the health sector are necessary to accelerate sustainable economic growth.
Co-Authors Nunung Nuryartono Syamsul Hidayat Pasaribu