Assessing The Contribution of FDI, Industry, Education, Corruption and Urban Population to Economic Growth in Asean Countries
DOI:
https://doi.org/10.24252/ecc.v12i2.58980Keywords:
FDI; Mean Years of Schooling; Control of Corruption; Urban; Economic GrowthAbstract
This study will explore the impact of FDI, Mean years of schooling, Control of Corruption and Urban on Economic Growth. The research gap examines the mean years of schooling and quality of education in eight ASEAN countries. A quantitative approach is employed, utilizing the EGLS method to reduce estimation bias. Education quality data is measured using government expenditure for education indicators. Data collection for 2009-2023 was sourced from the World Bank, ADB, and UNDP. This study is limited to eight ASEAN countries, potentially limiting the generalizability of the findings. The limitation to eight countries is the unavailability of complete data for 15 years for the other ASEAN countries. Future research should explore the impact of the quality of education in other ASEAN countries. By optimizing government expenditure on education, not only will mean years of schooling increase, but ASEAN can also effectively maintain and further enhance economic growth through the contribution of quality human resources. This study emphasizes the importance of the mean years of schooling integration and quality of education to maintain and enhance the quality of economic growth. This study also adds to the literature by highlighting the significant impact of education and its quality on the economic growth of ASEAN countries.
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