The Impact of Human Development Index, Minimum Wage, Labor Force Participation Rate, and Open Unemployment Rate on Economic Growth

Toni Irawan; Rifki Khoirudin

doi:10.56741/jmsd.v3i01.498

Authors

Toni Irawan Universitas Ahmad Dahlan
Rifki Khoirudin
rifki.khoirudin@ep.uad.ac.id
Universitas Ahmad Dahlan https://orcid.org/0000-0002-5730-0843

DOI:

https://doi.org/10.56741/jmsd.v3i01.498

Keywords:

Economic Growth, Human Development, Labor Force Participation, Minimum Wage, Open Unemployment

Abstract

This research aims to identify factors influencing the economic growth of Bali Province. The dependent variable used is economic growth, while the independent variables include the Human Development Index, Provincial Minimum Wage, Labor Force Participation Rate, and Open Unemployment Rate. The research employs a quantitative method, utilizing panel data regression with the Random Effect Model (REM). The findings reveal that the Open Unemployment Rate and Provincial Minimum Wage variables significantly and negatively impact economic growth. Conversely, the Labor Force Participation Rate variable significantly and positively influences economic growth. However, the Human Development Index variable does not demonstrate a significant impact and holds a positive value on economic growth.

Downloads

Download data is not yet available.

Author Biographies

Toni Irawan, Universitas Ahmad Dahlan

is a distinguished alumna of the Department of Development Economics at Ahmad Dahlan University, stands as a testament to the university's commitment to nurturing bright minds. Throughout his academic journey, he not only excelled in his studies but also actively engaged in various student organizations, demonstrating leadership skills and a passion for making a positive impact on campus life. (email: toni18000010157@webmail.uad.ac.id).

Rifki Khoirudin, Universitas Ahmad Dahlan

is a lecturer in the Department of Development Economics at Ahmad Dahlan University. He specializes in Valuation & Finance and has contributed to various national and international journals. (email: rifki.khoirudin@ep.uad.ac.id).

References

Fitria, S. F. (2021). Analisis Regresi Data Panel Pengaruh PDRB, Indeks Pembangunan Manusia, dan Tingkat Pengangguran Terbuka terhadap Jumlah Kemiskinan di Kabupaten/Kota di Jawa Barat pada Tahun 2013-2020. Jurnal Riset Matematika, 1(2), 119-128. https://doi.org/10.29313/jrm.v1i2.377 DOI: https://doi.org/10.29313/jrm.v1i2.377

Astuti, M. P., & Wahyuni, K. T. (2023, December). Analysis of the Effect of Technology on the Growth of the Information and Communication Sector in the Bali Province 2016-2021. In Proceedings of The International Conference on Data Science and Official Statistics (Vol. 2023, No. 1, pp. 417-429). DOI: https://doi.org/10.34123/icdsos.v2023i1.291

Said, L. B., & Syafey, I. (2021). The scenario of reducing congestion and resolving parking issues in Makassar City, Indonesia. Case Studies on Transport Policy, 9(4), 1849-1859. DOI: https://doi.org/10.1016/j.cstp.2021.10.004

Yusuf, A. A., & Warr, P. (2018). Anti-globalisation, poverty and inequality in Indonesia. Indonesia in the New World: Globalisation, Nationalism and Sovereignty, 133-56. DOI: https://doi.org/10.1355/9789814818230-013

Susilawati, S., Falefi, R., & Purwoko, A. (2020). Impact of COVID-19’s Pandemic on the Economy of Indonesia. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 3(2), 1147-1156. DOI: https://doi.org/10.33258/birci.v3i2.954

Utomo, C. D., & Hanggraeni, D. (2021). The impact of COVID-19 pandemic on stock market performance in Indonesia. The Journal of Asian Finance, Economics and Business, 8(5), 777-784.

Antara, M., & Sumarniasih, M. S. (2017). Role of tourism in economy of Bali and Indonesia. Journal of Tourism and Hospitality Management, 5(2), 34-44. DOI: https://doi.org/10.15640/jthm.v5n2a4

Sari, Y., Nasrun, A., & Putri, A. K. (2020). Analisis Pengaruh Indeks Pembangunan Manusia Dan Kemiskinan Terhadap Pertumbuhan Ekonomi Kabupaten/Kota Di Provinsi Kepulauan Bangka Belitung Tahun 2010-2017. Equity: Jurnal Ekonomi, 8(1), 1-13. https://doi.org/10.33019/equity.v8i1.9 DOI: https://doi.org/10.33019/equity.v8i1.9

Permadi, E., & Chrystanto, E. (2021). Analisa Pengaruh Jumlah Penduduk, Produk Domestik Regional Bruto (PDRB), dan Upah Minimum Kabupaten/Kota terhadap Tingkat Pengangguran Terbuka di Kabupaten/Kota di Provinsi Jawa Timur Tahun 2012-2018. OECONOMICUS Journal of Economics, 5(2), 86-95. DOI: https://doi.org/10.15642/oje.2021.5.2.86-95

Pramesti, T. D. (2022). Analisis Pengaruh Inflasi, Jumlah Tenaga Kerja, Dan Upah Minimum Terhadap Pertumbuhan Ekonomi Di Provinsi Jawa Tengah Tahun 2012-2020 (Doctoral dissertation, Universitas Muhammadiyah Surakarta).

Anshori, T. (2013). Analisis Pengaruh Tingkat Kemiskinan, Tenaga Kerja dan Desentralisasi Fiskal Terhadap Pertumbuhan Ekonomi Di Eks-Karesidenan Surakarta Tahun 2006-2010 (Doctoral dissertation, Universitas Muhammadiyah Surakarta).

Gujarati, D. N., & Porter, D. C. (2012). Dasar-dasar Ekonometrika. Jakarta: Salemba Empat.

Ningrum, J. W., Khairunnisa, A. H., & Huda, N. (2020). Pengaruh kemiskinan, tingkat pengangguran, pertumbuhan ekonomi dan pengeluaran pemerintah terhadap indeks pembangunan manusia (IPM) di Indonesia tahun 2014-2018 dalam perspektif Islam. Jurnal Ilmiah Ekonomi Islam, 6(2), 212-222. https://doi.org/10.29040/jiei.v6i2.1034 DOI: https://doi.org/10.29040/jiei.v6i2.1034

Ariani, M. B., & Nani, I. A. J. (2021). Analisis Indikator komposit Indeks Pembangunan Manusia dan Kemiskinan terhadap Pertumbuhan Ekonomi di Provinsi Banten. Jurnal Dinamika Ekonomi dan Bisnis, 18(01), 1-12. https://doi.org/10.34001/jdeb.v18i1.1504 DOI: https://doi.org/10.34001/jdeb.v18i1.1504

Murni, A. (2009). Ekonomika Makro (Ali Mifka, Ed.; cet. 2). Refika Aditama.

Aryanta, I. K. D., & Indrajaya, I. G. B. (2020). Pengaruh Tingkat Pengangguran, Upah Minimum dan Jumlah Penduduk Miskin Terhadap Pertumbuhan Ekonomi Provinsi Bali Tahun 2011-2018. E-Jurnal EP Unud, 11(3), 1453 - 1477 DOI: https://doi.org/10.24843/EEP.2022.v11.i04.p10

Darsana, I. B. (2020). Pengaruh Tingkat Pendidikan, Umk, Investasi Terhadap Penyerapan Tenaga Kerja Dan Pertumbuhan Ekonomi, Kabupaten/Kota Di Provinsi Bali. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 9, 57-72. DOI: https://doi.org/10.24843/EEB.2020.v09.i01.p04

Wihda, B. M., & Poerwono, D. (2013). Analisis Pengaruh Penanaman Modal dalam Negeri (Pmdn), Penanaman Modal Asing (PMA), Pengeluaran Pemerintah dan Tenaga Kerja terhadap Pertumbuhan Ekonomi di Yogyakarta (Tahun 1996–2012) (Doctoral dissertation, Fakultas Ekonomika dan Bisnis).

Ningsih, D. S., & Hodijah, S. (2020). Pengaruh penanaman modal dalam negeri (PMDN), penanaman modal asing (PMA), ekspor dan impor terhadap pertumbuhan ekonomi Provinsi Jambi. Jurnal Paradigma Ekonomika, 15(2), 267-276. DOI: https://doi.org/10.22437/paradigma.v15i2.10328

Yuniarti, Q., & Imaningsih, N. (2022). Pengaruh Pertumbuhan Ekonomi, Tingkat Kemiskinan dan Indeks Pembangunan Manusia terhadap Tingkat Pengangguran Terbuka di Kabupaten Sidoarjo. Ekonomis: Journal of Economics and Business, 6(1), 44-52. https://doi.org/10.33087/ekonomis.v6i1.474 DOI: https://doi.org/10.33087/ekonomis.v6i1.474