International Journal of Economics, Business and Accounting Research (IJEBAR)
Vol 7 No 4 (2023): IJEBAR, Vol. 7 Issue 4, December 2023

EMPIRICAL RESEARCH: THE IMPACT OF FOOD SECURITY ON ECONOMIC GROWTH (CASE STUDY IN INDONESIA)

Hartono, Wendra (Unknown)
Kodrat, David Sukardi (Unknown)
Tambunan, Damelina Basauli (Unknown)
Pramana, Isadora Elgina (Unknown)
Alexander, Juan Richard (Unknown)



Article Info

Publish Date
29 Dec 2023

Abstract

Abstract: The world is perceived to be experiencing an acute food crisis which will continue until 2023. The Ministry of Finance of the Republic of Indonesia estimated that the upcoming global economic growth will weaken. Drops in the economy can be influenced by the uncertain global financial markets, inflationary pressures, increasing stagflation rate, and geopolitical situations. The problem research is: Does food security have an impact on Indonesia's economic growth? This study adopts real GDP (Y) as a proxy for economic growth; labor force (Lf) as a proxy for labor; Gross Capital formation (CI) as a proxy for capital; food production index (FS) as a proxy for food security; and trade openness (TO) is proxied by the sum of total export and total import divided by real GDP. This study examines and compares the impact of food security on economic growth in Indonesia using VECM method using 30 years of data, ranging from 1991 to 2020. The estimated results signified that food security in Indonesia plays a pivotal role in stimulating economic growth although the level of influence varies.

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Journal Info

Abbrev

IJEBAR

Publisher

Subject

Economics, Econometrics & Finance

Description

International Journal of Economics, Business, and Accounting Research (IJEBAR) is a peer-reviewed, open access international scientific journal dedicated for rapid publication of high-quality original research articles as well as review articles in all areas of Economics, Business and Accounting. ...