Analisis Pengaruh Indikator Ekonomi Makro Terhadap Pertumbuhan Ekonomi di Negara-Negara Berkembang di Asia Tenggara

Abstract

Analysis of The Influence of Macroeconomic Indicators on Economic Growth in Developing Countries in Southeast Asia Economic growth is a continuous process of increasing a country's economic activity, which ultimately leads to an increase in national income. Economic growth is one of the main indicators used to assess a country’s level of development. This study aims to analyze the effect of inflation, exchange rates, and foreign direct investment (FDI) on economic growth in developing countries in the Southeast Asian region. The research covers eight countries: Indonesia, Malaysia, Thailand, the Philippines, Vietnam, Laos, Cambodia, and Myanmar, with an observation period from 2014 to 2023. The data used are secondary data obtained from the World Bank and analyzed using panel data regression with the Fixed Effect Model (FEM) approach, selected based on the results of the Hausman test. The results of the study show that, partially, inflation has a negative and significant effect on economic growth. Conversely, the exchange rate and foreign direct investment (FDI) have a positive and significant effect on economic growth. Simultaneously, the three independent variables significantly affect economic growth in developing Southeast Asian countries during the 2014–2023 period. These findings highlight the importance of price stability, adaptive exchange rate management, and the creation of a conducive investment climate in promoting sustainable economic growth in the Southeast Asian region.