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All Journal Diponegoro Journal of Economics
Akhmad Syakir Kurnia
Department of Economics and Development Studies, Faculty of Economics and Business, Universitas Diponegoro, Semarang
Economics, Econometrics & Finance

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Journal : Diponegoro Journal of Economics

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The Effect of Hosting Mega-Sporting Events on Asian Countries’ Economic Growth Rifqi Muhammad Aufa; Akhmad Syakir Kurnia
Diponegoro Journal of Economics Vol 14, No 1 (2025)
Publisher : Faculty of Economics and Bussiness, Universitas Diponegoro, Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.48955

Abstract

This study aims to see the effect of hosting mega-sporting events: the FIFA World Cup, Summer Olympics, and Winter Olympics on Asian countries’ economic growth, such as China, Indonesia, Japan, South Korea, Thailand, Bahrain, Singapore, Saudi Arabia, Malaysia, and India from 1998 to 2023. This study compares the effects of each Mega-Sporting Event (MSE) across nations using panel data.  Because it takes into consideration country-specific factors that could affect the outcomes, the Fixed Effect Model (FEM) was used.  Hosting the FIFA World Cup did not have a positive effect on economic growth, hosting the Summer Olympics brought a positive effect on economic growth, and hosting the Winter Olympics did not have a positive effect on economic growth. A limitation of this study is that it did not include Qatar because the variables used in the research were unavailable. Additionally, the study did not examine the indirect effects of hosting mega-sporting events on economic growth. This study offers a novel cross-country panel analysis on the economic impact of hosting MSEs in Asia over 26 years using a Fixed Effect Model.
Financial Development, Human Capital, and Investment in 7 ASEAN Countries: A Triangular Analysis of Economic Growth Regina Safira Amaranti; Akhmad Syakir Kurnia
Diponegoro Journal of Economics Vol 14, No 3 (2025)
Publisher : Faculty of Economics and Bussiness, Universitas Diponegoro, Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.52526

Abstract

Economic growth is the main goal of all countries in the world, both developed and developing countries. Initially, growth theory only emphasized labor, capital, and natural resources, yet it often overlooked the contribution of financial systems. The financial sector will trigger economic growth through its intermediary function. The objective of this study is to see the influence of financial sector development, human capital, and investment in boosting economic growth in 7 ASEAN countries. This study employs secondary data, including gross domestic product (GDP), the ratio of broad money to GDP, the ratio of domestic credit to GDP, gross fixed capital formation, and the education index, utilizing a fixed effects model with the generalized least squares (GLS) approach as the analytical tool to estimate the regression model. The results of this study are that the ratio of broad money to GDP has a negative effect on economic growth in 7 ASEAN countries. Meanwhile, the ratio of credit to GDP, gross fixed capital formation, and the education index have a positive effect on economic growth in 7 ASEAN countries. We therefore contribute to the literature by adding the theory of economic growth, which subsequently impacts the real sector.
Co-Authors Regina Safira Amaranti Rifqi Muhammad Aufa