The role of social variables on growth in South of Sumatera: A dynamic panel data analysis
DOI:
https://doi.org/10.31328/jsed.v7i1.4984Keywords:
economic growth, dynamic panel data, GMM, HDI, labor force, social variables,Abstract
Policy makers in all countries have an orientation towards economic growth and identify the factors that influence growth. This study applies social variables in the economic growth model, this is inseparable from the views of classical and neoclassical economists that human resources play an important role in economic growth. The research gap is applying short-term and long-term estimates of social variables to the economic growth model in South Sumatra Province. Research using dynamic panel data on the GMM system. The results showed that the human development index (HDI) as a proxy for human capital has a positive effect on economic growth in the short and long term, another result, the labor force, unemployment and poverty consistently have a negative effect on growth in South Sumatra Province in the short and long term. The implication of this research is to improve the quality and quantity of education and health facilities and policy for education to improve cognitive skills because it can produce a labor force with high skills. Sustainable fiscal policy and pro-poor visions and encouraging investment to create more jobs.JEL Classification C31; I25; H75To cite this article: Meilinda, R. P., & Kurniawan, M. L. A (2024). The role of social variables on growth in South of Sumatera: A dynamic panel data analysis. Journal of Socioeconomics and Development, 7(1), 68-76. https://doi.org/10.31328/jsed.v7i1.4984References
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