Does Trade Openness and Human Resources Affect the Economic Growth of ASEAN Countries
- 10.2991/978-2-38476-022-0_59How to use a DOI?
The AEC aims to make ASEAN as a single market and production base, where the flow of goods, services, investment, and skilled labor, as well as the flow of capital, can move freely. The purpose is to ensure all countries can get benefit from free trade with equitable economic development, reduced poverty, and socio-economic diversity. However, it is hard to believe that this goal could have to be achieved without equality in the quality of human resources, investment, price stability, and each ASEAN country's openness. This paper examines the relationship between the quality of human resources and economic openness as a factor of ASEAN's economic growth. The model used is the panel data between 2004 and 2018 in 5 ASEAN countries. The results of the fixed effect model show that both human development and FDI are positively significant in explaining the economic growth while inflation and trade openness are not significant. Therefore, it is necessary for the ASEAN countries to enhance the skill of human resources and gain more investment on human capital to prosper the countries.
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TY - CONF AU - Fakhruddin AU - Fitriyani AU - Cut Zakia Rizki PY - 2023 DA - 2023/05/13 TI - Does Trade Openness and Human Resources Affect the Economic Growth of ASEAN Countries BT - Proceedings of the 1st UMSurabaya Multidisciplinary International Conference 2021 (MICon 2021) PB - Atlantis Press SP - 557 EP - 565 SN - 2352-5398 UR - https://doi.org/10.2991/978-2-38476-022-0_59 DO - 10.2991/978-2-38476-022-0_59 ID - 2023 ER -