MODAL MANUSIA DAN PERTUMBUHAN EKONOMI DI INDONESIA MENGGUNAKAN ESTIMASI PANEL
Abstract
This study examines the influence of the human capital (HC) variable on economic growth (EG) in Indonesia. The study used a panel data model with fixed effect estimates for 34 provinces from 2011 to 2019. We used the education index formula from the United Nations Development Program (UNDP) to estimate human capital. The results showed that the human capital variable in the current year (HC) to human capital year-3 (HCt-3) had a negative and significant effect on economic growth. Meanwhile, variable of the human capital year-5 (HCt-5) to human capital year-7 (HCt-7), has a significant positive effect on economic growth. This study also found that the human capital variable year-4 (HCt-4), although the direction is positive, is not statistically significant for economic growth. This paper is useful for policy makers in Indonesia to increase human capital by improving the quality of education.
Keywords
Full Text:
PDFReferences
Afonso, A., Schuknecht, L., & Tanzi, V. (2010). Income distribution determinants and public spending efficiency. The Journal of Economic Inequality, 8(3), 367-389.
https://link.springer.com/article/10.1007/s10888-010-9138-z
Autor, D. H. (2014). Skills, Education, and the Rise of Earnings Inequality. Science, 344(6186), 843-51.
https://www.researchgate.net/publication/262581319_Skills_education_and_the_rise_of_earnings_inequality_among_the_other_99_percent
Barro, R. J., & Lee J. W. (1993), International Comparisons Of Educational Attainment. Journal of Monetary Economics 32(3), December, 363-394.
Barro, R. J. (2001). Human Capital and Growth. The American Economic Review, 91(2), 12-17. Retrieved November 1, 2020
http://www.jstor.org/stable/2677725
Chani, M. I., Pervaiz, Z., Jan, S. A., & Chaudhary, A. R. (2014). Human Capital Inequality and Income Inequaity: testing for Causality. Quality & Quantity, 48(1), 149-156
https://link.springer.com/article/10.1007/s11135-012-9755-7
De Gregorio, J. D., & Lee, J. W. (2002). Education and Income Inequality: New Evidence from Cross-Country Data. Review of Income and Wealth, 48(3), 395-416
https://www.researchgate.net/publication/4785650_Education_and_Income_Inequality_New_Evidence_From_Cross-Country_Data
De La Fuente, Á., & Domenéch. (2006), Human capital in growth regressions: how much difference does data quality make?, Journal of the European Economic Association, 4(1), 1-36, March 2006.
https://EconPapers.repec.org/RePEc:oec:ecoaaa:262-en
Ganeva, R. S. (2010). Human Capital in Economic Growth: A Review of Theory and Empirics. EconomicThought, 7, 131-149
https://www.researchgate.net/publication/227368682_Human_Capital_in_Economic_Growth_A_Review_of_Theory_and_Empirics
Gylfason, T., & Zoega, G. 2000. Natural Resources and Economic Growth: The Role of Investment. CESIFO Working Paper 542. April, 19-45. https://EconPapers.repec.org/RePEc:bla:worlde:v:29:y:2006:i:8:p:1091-1115
Human Development Report, United Nations Development Programme, UNESCO Institute for Statistics (2018)
Islam, N. (1995). Growth Empirics: a Panel Data Approach. Quarterly Journal of Economics 110, 1127–1170.
https://www.jstor.org/stable/2946651
Jun, Y., Kui, Y. Z., & Fei, S. P. (2011). Income Distribution, Human Capital and Environmental Quality: Empirical Study in China. Energy Procedia Sience direct-Elsevier, 5, 1689–1696.
https://doi.org/10.1016/j.egypro.2011.03.288
Jaumotte, F., Lall, S., & Papageorgiou, C. (2013). Rising Income Inequality: Technology, or Trade and Financial Globalization?. IMF Economic Review, 61 (2), 271–309.
https://ideas.repec.org/a/pal/imfecr/v61y2013i2p271-309.html
Lachler, Ulrich. & David Alan Aschauer. 1998. Public Investment and Economic Growth in Mexico. Policy Research Working Paper No. 1964. pp. 1 – 24
https://ideas.repec.org/p/wbk/wbrwps/1964.html
Lee, J. W., & Lee, H. (2018). Human Capital and Income Inequality. Journal of the Asia Pacific Economy, 23(4), 554-583.
https://doi.org/10.1080/13547860.2018.1515002
Lustig, N., Calva, L. F. L., & Juarez, E. O. (2013). Declining Inequality in Latin America in the 2000s: The cases of Argentina, Brazil, and Mexico. Washington, DC: The World Bank
https://doi.org/10.1016/j.worlddev.2012.09.013
Pelinescu, E. (2014). The Impact of Human Capital On Economic Growth. Procedia Economics and Finance, 22(2015), 184 – 190
https://www.sciencedirect.com/science/article/pii/S2212567115002580
Romer, David. 2006. Advanced Macroeconomics. McGraw Hill International Book Company.
Serena, M. J. F. (2001). Human Capital Accumulation And Economic Growth. Investigaciones Económicas, 25(3), 585-602.
http://pareto.uab.es/wp/1999/43599.pdf
Suhendra., & Anwar, C.J. (2014). Determinants of Private Investment and The Effects on Economic Growth in Indonesia. GTSF Journal on Business Review Singapore, 3(3), June 2014. DOI: 10.5176/2010-4804_3.3.333 http://dl6.globalstf.org/index.php/gbr/article/view/270
Suhendra., I., Istikomah, N., Ginanjar, R. F., & Anwar, C.J. (2020). Human Capital, Income Inequality and Economic Variables: A Panel Data Estimation from a Region in Indonesia. The Journal of Asian Finance, Economics and Business, 7(10), 571-579. DOI : https://doi.org/10.13106/jafeb.2020.vol7.no10.571
DOI: http://dx.doi.org/10.35448/jequ.v10i2.9564
Refbacks
- There are currently no refbacks.
Copyright (c) 2020 Jurnal Ekonomi-Qu
Phone: +62254 280330 ext 125