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Antecedents and Consequences of Economic Growth in ASEAN Countries

Journal of Economic Education · Vol. 14 No. 1 (2025) · hlm. 110–123

DOI
10.15294/jeec.v14i1.24717
ISSN
2301-7341
Terbit
2025-07-02
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

Association of Southeast Asian Nations (ASEAN) standing out as the most developed intergovernmental institution. ASEAN countries have demonstrated impressive economic growth average annual growth rate of 4.2% over the past decade. This study investigates the impact of key macroeconomic variables Foreign Direct Investment (FDI), inflation, unemployment, exchange rate, and green trade on economic growth in ten ASEAN member states. Additionally, it examines the mediating role of FDI in shaping these relationships. Employing panel data regression over a 15-year period (2008–2022), the analysis reveals a significant negative correlation between inflation and economic growth, reflecting the detrimental effects of price instability on economic activity. In contrast, unemployment, exchange rate, and green trade exhibit positive correlations with growth, suggesting that higher employment levels, currency stability, and environmentally sustainable trade practices bolster economic performance. FDI plays a critical mediating role by injecting capital and advanced technology, thereby enhancing productivity, innovation, and job creation. The study underscores the necessity of integrated economic policies that simultaneously address inflation, employment, exchange rate management, and green trade promotion, while actively fostering FDI to support sustainable and resilient economic development across the ASEAN region.

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  • State University of Semarang
  • Universitas Halu Oleo
  • University Elmergib
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Rekan penulisOrganisasiArtikel bersama
Niken SubektiState University of Semarang2
Sonika MaulanaState University of Semarang2
Rifa’atunnisa Rifa’atunnisaState University of Semarang2
Juhadi JuhadiState University of Semarang2
Heru SetyantoState University of Semarang2
Dwi Anggani Linggar BharatiState University of Semarang2
Abdurrahman FaridiState University of Semarang2
Amelia WidihastutikState University of Semarang1
Rise BeningState University of Semarang1
Atun Sri RejekiState University of Semarang1
Yulianti YuliantiUniversitas Halu Oleo1
Baruna Rizky PerdanaState University of Semarang1
Setyani Rohmatul MuthohharohState University of Semarang1
Rahmi Nur Baity WahyuniState University of Semarang1
Anggani Linggar BharatiState University of Semarang1
Emran Ali AlareefiUniversity Elmergib1
Abdurrachman FaridiState University of Semarang1
Muncar WinartiState University of Semarang1
Nindya Putri AriyaniState University of Semarang1
Faiz MaulidaState University of Semarang1
Hendi PratamaState University of Semarang1
Leila Nurul AmaliState University of Semarang1
Hadziq Najmuddin PurwantoState University of Semarang1
Katharina RustipaState University of Semarang1
Nurul Septi YaniState University of Semarang1
Sri Wuli FitriatiState University of Semarang1
Anggit Budi LuhurState University of Semarang1
Arief YuliantoState University of Semarang1
Dwi RatnasariState University of Semarang1
Agus WahyudinState University of Semarang1
Fitri AprilianiState University of Semarang1
Agus WahyudinState University of Semarang1
Desy Ayu SafitriState University of Semarang1
Ezar ShofiState University of Semarang1
Murwatiningsih MurwatiningsihState University of Semarang1
Sri PujiastutiAfiliasi tidak diketahui1
Maulidi HilalAfiliasi tidak diketahui1

Afiliasi berasal dari OpenAlex; metadata OAI-PMH jurnal tidak memuatnya. Penulis tanpa ID OpenAlex dicocokkan berdasarkan nama, sehingga dua orang bisa tergabung atau satu orang bisa terpisah.

Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/jeec/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">Antecedents and Consequences of Economic Growth in ASEAN Countries</dc:title>
	<dc:creator xml:lang="en">Imleesh, Mohammed Mahmoud Mohammed</dc:creator>
	<dc:creator xml:lang="en"> Arief, Sandy</dc:creator>
	<dc:creator xml:lang="en">Rozi, Fahrur </dc:creator>
	<dc:subject xml:lang="en">Inflation</dc:subject>
	<dc:subject xml:lang="en">Unemployment Rate</dc:subject>
	<dc:subject xml:lang="en">Exchange Rate</dc:subject>
	<dc:subject xml:lang="en">Green Trade</dc:subject>
	<dc:subject xml:lang="en">Foreign Direct Investment (FDI)</dc:subject>
	<dc:subject xml:lang="en">Economic Growth</dc:subject>
	<dc:description xml:lang="en">Association of Southeast Asian Nations (ASEAN) standing out as the most developed intergovernmental institution. ASEAN countries have demonstrated impressive economic growth average annual growth rate of 4.2% over the past decade. This study investigates the impact of key macroeconomic variables Foreign Direct Investment (FDI), inflation, unemployment, exchange rate, and green trade on economic growth in ten ASEAN member states. Additionally, it examines the mediating role of FDI in shaping these relationships. Employing panel data regression over a 15-year period (2008–2022), the analysis reveals a significant negative correlation between inflation and economic growth, reflecting the detrimental effects of price instability on economic activity. In contrast, unemployment, exchange rate, and green trade exhibit positive correlations with growth, suggesting that higher employment levels, currency stability, and environmentally sustainable trade practices bolster economic performance. FDI plays a critical mediating role by injecting capital and advanced technology, thereby enhancing productivity, innovation, and job creation. The study underscores the necessity of integrated economic policies that simultaneously address inflation, employment, exchange rate management, and green trade promotion, while actively fostering FDI to support sustainable and resilient economic development across the ASEAN region.</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2025-07-02</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/jeec/article/view/24717</dc:identifier>
	<dc:identifier>10.15294/jeec.v14i1.24717</dc:identifier>
	<dc:source xml:lang="en">Journal of Economic Education; Vol. 14 No. 1 (2025): June 2025; 110 - 123</dc:source>
	<dc:source>2301-7341</dc:source>
	<dc:source>10.15294/jeec.v14i1</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/jeec/article/view/24717/4606</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2025 Journal of Economic Education</dc:rights>
</oai_dc:dc>