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Analysis of Economic Growth Patterns and Regional Potential Sectors in Grobogan Regency Central Java in 2017–2021

In: Proceedings of the International Conference on Economics and Business Studies (ICOEBS-22-2)

Author

Listed:
  • Maya Nur Izza

    (Universitas Muhammadiyah Surakarta, Faculty of Economics and Business)

  • Didit Purnomo

    (Universitas Muhammadiyah Surakarta, Faculty of Economics and Business)

Abstract

Economic growth and economic development are strongly intertwined, and economic development can spur economic growth. This study aims to investigate economic growth patterns and potential sectors in Grobogan Regency between 2017 and 2021. The analytical methods used in this study were the location quotient analysis (LQ), shift share, and Klassen typology. The secondary data used are GDP estimates for 2017 through 2021 that were received from the Central Statistical Office (BPS). According to the LQ analysis, the fundamental industries from 2017 to 2021 will be wholesale and retail trade; vehicle and motorcycle maintenance; transportation and storage; accommodation; and food and beverage service; residential neighborhoods, government, military, and security organizations, as well as social, health care, and educational services; and services in finance and insurance. Two industries may have a competitive edge, according to the findings of the shift-share research: wholesale and retail as well as auto and motorcycle maintenance. Based on the class typology research results, the financial services and insurance sectors are regularly represented in the three quadrants referred to as Advanced and Fast Growing Sectors (Quadrant I). Manufacturing and mining are both part of the developed but fragile industry category (Quadrant II). When categorizing foreseeable or expanding sectors, the sector of education services is considered (Quadrant III).

Suggested Citation

  • Maya Nur Izza & Didit Purnomo, 2024. "Analysis of Economic Growth Patterns and Regional Potential Sectors in Grobogan Regency Central Java in 2017–2021," Advances in Economics, Business and Management Research, in: Huda Maulana & Muhammad Sholahuddin & Muhammad Anas & Zulfikar Zulfikar (ed.), Proceedings of the International Conference on Economics and Business Studies (ICOEBS-22-2), pages 72-84, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-204-0_7
    DOI: 10.2991/978-94-6463-204-0_7
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