Analysis of Factors Affecting Economic Growth in the Former Semarang Residency in 2017-2021

Rahadyan Surya Karestunan, Yuni Prihadi Utomo

Abstract


Economic growth is an increase in the value and amount of goods and services produced in a certain period of time as a process of changing economic conditions on an ongoing basis towards a better condition. This study aims to determine the effect of investment, government expenditures, labor, population density, and the proportion of GRDP in the industrial sector on economic growth in the former Semarang Residency in 20172021. The analytical method used is panel data regression, with the fixed effect model selected as the best-estimated model. The type of data used is panel data, which combines cross-section and time-series analysis and is a combination of six districts or cities in the former Semarang residency with an analysis period of five years (20172021). The results of the study show that the variables of labor and population density had an effect on economic growth in the former Semarang residency. Whereas the variables investment, government expenditure, and the proportion of GRDP in the industrial sector have no effect on economic growth in the former Semarang residency in 20172021.



Keywords


Economic Growth, Investment, Government, Employment, Population Density, and Proportion of GRDP in the Industrial Sector

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DOI: https://doi.org/10.30596/miceb.v1i0.192

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