Mathematical Journal of Modelling and Forecasting
Vol. 1 No. 2 (2023): December 2023

Factors Affecting Economic Growth in West Sumatera Province Using Panel Data Regression Analysis

Sherly Helma Putri (Unknown)
Helma (Unknown)



Article Info

Publish Date
31 Dec 2023

Abstract

Economic development is considered successful if the economic growth rate of its people reaches a high level. Indonesia has positive economic growth with economic growth rates above 5% in each quarter. However, the high economic growth of Indonesia does not mean that all regions have the same growth rate. Where the increase in the number of goods and services received or the added value of production factors is often referred to as economic growth. Regional economic growth in West Sumatera Province is known to tend to be negative. This study aims to obtain an overview of panel data regression models and factors that have an influence on economic growth in West Sumatera Province for the period 2018 to 2022. The best regression model obtained is the fixed effect model (FEM), where at a significant level of 5%, the factors that have an influence and positive relationship on economic growth are the human development index and government spending.

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Journal Info

Abbrev

mjmf

Publisher

Subject

Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

The Mathematical Journal of Modelling and Forecasting are scientific journals in the fields of mathematics, statistics, actuarial, financial mathematics, computational mathematics, and applied mathematics. This journal is published twice a year, precisely in June and December in an online version. ...