Economic: Journal Economic and Business
Vol. 3 No. 4 (2024): ECONOMIC: Journal Economic and Business

The Influence of Population and GRDP on Community Consumption in North Sumatra Province

Handayani, Siti Alifah (Unknown)
Tampubolon, Agustin Mahardika (Unknown)
Kurnia, Tri (Unknown)
Siagian, Arnol Prabowo (Unknown)
Rambe, Rolil (Unknown)



Article Info

Publish Date
24 Oct 2024

Abstract

This research aims to analyze the influence of population and GRDP on people's consumption levels in North Sumatra Province. This research uses a regression model using the Error Correction Model (ECM) method and uses secondary data. The research results show that Population and GRDP have a positive and significant impact on public consumption in the long term, but there is no significant impact in the short term. The regression model shows a positive relationship between the variables Population, GRDP, and Public Consumption. The classical assumptions of this model are met. This research provides important insights regarding economic development policies, sustainable population growth, and balanced GRDP growth. Factors such as income, unemployment and economic conditions also influence people's consumption patterns. Suggestions for further research are also suggested to gain a deeper understanding of the factors that influence public consumption in the region.

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Journal Info

Abbrev

ejeb

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

ECONOMIC: Journal Economi and Business yang diterbitkan oleh Lembaga Riset Mutiara Akbar, Medan, Indonesia merupakan jurnal akses terbuka yang dapat digunakan sebagai media interaksi bagi seluruh cendikiawan di berbagai bidang Ekonomi dan Bisnis baik itu Karya Ilmiah kajian pustaka maupun ...