Proceedings of the 1st UMSurabaya Multidisciplinary International Conference 2021 (MICon 2021)

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Does Trade Openness and Human Resources Affect the Economic Growth of ASEAN Countries

Authors
Fakhruddin1, *, Fitriyani1, Cut Zakia Rizki1
1Department of Development Economics, Faculty of Economics and Business, Universitas Syiah Kuala, Aceh, Indonesia
*Corresponding author. Email: fakhruddin@unsyiah.ac.id
Corresponding Author
Fakhruddin
Available Online 13 May 2023.
DOI
10.2991/978-2-38476-022-0_59How to use a DOI?
Abstract

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.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 1st UMSurabaya Multidisciplinary International Conference 2021 (MICon 2021)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
13 May 2023
ISBN
978-2-38476-022-0
ISSN
2352-5398
DOI
10.2991/978-2-38476-022-0_59How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
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  -