Open AccessPENGARUH LIBERALISASI ARUS MODAL TERHADAP PERTUMBUHAN EKONOMI ASEAN-5
Author(s) -
Devilia Sitorus,
Crisanty Sutristyaningtyas Titik
Publication year - 2020
Publication title -
jdep (jurnal dinamika ekonomi pembangunan)
Language(s) - English
Resource type - Journals
ISSN - 2614-2546
DOI - 10.33005/jdep.v3i2.116
Subject(s) - openness to experience , panel data , economics , index (typography) , liberalization , regression analysis , gross fixed capital formation , capital formation , real gross domestic product , capital account , international economics , development economics , monetary economics , macroeconomics , gross domestic product , financial capital , economic growth , human capital , econometrics , market economy , psychology , social psychology , machine learning , world wide web , computer science
This study aims to examine the relationship between capital flow liberalization and economic growth in ASEAN-5. This research is a quantitative study that uses data: GDP, Gross Capital Formation, financial disclosure seen from the Chinn-Ito index for the period 2000-2017 in 5 ASEAN countries namely Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Data were processed using panel data regression analysis and specifically for Indonesia, Partial Adjustment Model (PAM) regression was performed. The results of this study indicate that financial openness seen from the Chinn-Ito index has a negative and significant influence on the economic growth of ASEAN-5 countries. Capital flows have a positive and significant impact on the economic growth of ASEAN-5 countries. Meanwhile, the PAM (Partial Adjustment Model) regression model shows that capital flows have a positive and significant influence on Indonesia's economic growth both in the short and long term, while financial openness has a negative and significant impact on Indonesia's economic growth both in the short and long term.