Crisanty Sutristyaningtyas Titik
Fakultas Ekonomi dan Bisnis Universitas Trunojoyo Madura

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Journal : JDEP (Jurnal Dinamika Ekonomi Pembangunan)

Pengaruh Liberalisasi Arus Modal terhadap Pertumbuhan Ekonomi ASEAN-5 Devilia Sitorus; Crisanty Sutristyaningtyas Titik
JDEP (Jurnal Dinamika Ekonomi Pembangunan) Vol 3 No 2 (2020): JDEP (Jurnal Dinamika Ekonomi Pembangunan)
Publisher : Prodi Ekonomi Pembangunan FEB Universitas Pembangunan Nasional "Veteran" Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (296.909 KB) | DOI: 10.33005/jdep.v3i2.116

Abstract

This study aims to examine the relationship between capital flow liberalization and economic growth in ASEAN-5. This research is a quantitative study that uses data: GDP, Gross Capital Formation, financial disclosure seen from the Chinn-Ito index for the period 2000-2017 in 5 ASEAN countries namely Indonesia, Malaysia, the Philippines, Singapore, and Thailand. Data were processed using panel data regression analysis and specifically for Indonesia, Partial Adjustment Model (PAM) regression was performed. The results of this study indicate that financial openness seen from the Chinn-Ito index has a negative and significant influence on the economic growth of ASEAN-5 countries. Capital flows have a positive and significant impact on the economic growth of ASEAN-5 countries. Meanwhile, the PAM (Partial Adjustment Model) regression model shows that capital flows have a positive and significant influence on Indonesia's economic growth both in the short and long term, while financial openness has a negative and significant impact on Indonesia's economic growth both in the short and long term.