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Inter-regional trade and economic growth of ASEAN low middle income: Are corruption control and HDI important?

Author

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  • Nurjannah Nurjannah
  • Raja Masbar
  • M. Shabri Abd. Majid
  • Suriani Suriani

Abstract

The current study aims to analyze the factors influencing ASEAN economic growth and integration. Specifically, the variables of inter-regional trade, human resource development, and corruption were investigated in six lower-middle-income countries from 1996 to 2019 through Driscoll and Kraay’s, Newey and West’s, and Dumitrescu and Hurlin’s as causal analysis. The study’s results found that capital had an impact of 0.248%, labor had an impact of 0.467%, human development had 3.010%, intra-regional trade had an impact of 0.014%, and corruption control had 0.260%. Statistically, all variables have a significant effect except for inflation. Furthermore, a bidirectional found in economic growth from the capital, corruption control, and intra-trade. A unidirectional was found for economic growth between the labor force and human development. At the same time, a neutral relationship was found between inflation and economic growth. Based on these findings, strengthening the economy in the integration area needs to be done, even if it’s only trading with fellow LMIs. Besides that, there is an increasing need to increase the allocation of education and health, which stimulates productivity. The government also needs to strengthen corruption control, which is detrimental to developing nations and economic growth.

Suggested Citation

  • Nurjannah Nurjannah & Raja Masbar & M. Shabri Abd. Majid & Suriani Suriani, 2023. "Inter-regional trade and economic growth of ASEAN low middle income: Are corruption control and HDI important?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 11(2), pages 2230733-223, June.
    • Handle: RePEc:taf:oaefxx:v:11:y:2023:i:2:p:2230733
    DOI: 10.1080/23322039.2023.2230733
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