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January 10, 2025Jurnal Ekonomi PembangunanOpen Access

How Escaping the Middle-Income Trap: Key Factors for Indonesia's Growth?

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Authors

FMFeny MarissaSriwijaya UniversityABAbdul BashirSriwijaya UniversityAIAlghifari Mahdi IgamoSriwijaya University

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Implication

Time-series analysis reveals human development and foreign investment drive economic expansion in Indonesia, indicating institutional reforms are vital to escape the middle-income trap.

Key Points

  • Investigate the impact of human development, foreign direct investment, and investment efficiency on economic growth within the context of overcoming the middle-income trap.
  • Conducted an autoregressive distributed lag (ARDL) time-series model.
  • Analyzed national economic indicators using World Bank and Asian Development Bank data spanning from 2000 to 2022 in Indonesia.
  • Human Development Index demonstrated a strong positive correlation with national economic growth, driven by investments in healthcare, education, and social welfare.
  • Foreign direct investment significantly enhanced economic growth through technology transfer and productivity gains, whereas investment efficiency showed limited evidence of a direct effect.

Cite This Study

Marissa et al. (2025) studied this question.

synapsesocial.com/papers/6a125e2dc031bb6829a66e60https://doi.org/10.29259/jep.v22i2.23160
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