Skala produksi, pertumbuhan ekonomi, dan human capital di Indonesia

Suyanto, Suyanto (2005) Skala produksi, pertumbuhan ekonomi, dan human capital di Indonesia. Jurnal Ilmiah Sosial dan Humaniora, 1 (1). pp. 24-45. ISSN 0216-1532

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This study examines the economic growth in Indonesia using augmented Solow-Swan Growth Model introduced by Mankiw, Romer and Weil (1992) and Lucas (1988) model with human capital through education. Using the quarterly data period of 1980.1 – 2000.4, the study shows that the long-run relation among the selected variables consist of violation of classical linear regression model (CLRM) assumptions. Since autocorrelation and heteroscedasticity are happened in the estimation, the OLS estimator has became not the BLUE (best linear unbiased estimator) anymore. Using the cointegration methodology, the author tries to find the long-run steady state for the relationship among the selected variables. The unit roots test confirms that the data-series are integrated at first difference for all variables, and the cointegration test using the Granger’s residual approach shows the existence of linear combination among the selected variables. The Granger’s error-correction model (ECM) confirms that the short-run disequilibrium will converge to the long-run existing equilibrium with moderate speed of adjustment. The augmented Solow-Swan growth model is more appropriate for Indonesia in the period of data. Kata-kata kunci: pertumbuhan ekonomi, human capital, Indonesia

Item Type: Article
Uncontrolled Keywords: economic growth, human capital, classical linear regression model (CCRM)
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Business and Economic > Department of Economic
Depositing User: Suyanto 3198
Date Deposited: 01 Aug 2019 08:47
Last Modified: 24 Mar 2021 16:07

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