2024
DOI: 10.61975/gjbes.v1i1.20
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The Nexus Between Democracy, Human Development, and Economic Growth: A Provincial Analysis

Edi Saputra Ringga,
Vivi Silvia

Abstract: This study aims to investigate the impact of democracy and human development on the economic growth of Aceh Province, Indonesia, especially from a long-term perspective during the period 2010-2020. It employs both static and dynamic approaches, such as Robust Least Squares (RLS), Dynamic OLS (DOLS), Fully-Modified OLS (FMOLS), and Canonical Cointegration Regressions (CCR). This study uses two gross regional domestic products (GRDP) as a proxy for economic growth, namely GRDP migas (referred to as GRDP with the… Show more

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Cited by 4 publications
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“…Meanwhile, the Solow growth model, an extension of Harrod Domar's theory, delineates how capital stock, labor force growth, and technological progress influence a country's output. It asserts a constant relationship between capital and labor as fundamental inputs driving economic growth [16][17][18]. Synthesis of these theories gives a comprehensive understanding of the interplay between investment, labor, and industrial growth, offering insights into strategies for fostering economic development in the manufacturing sector.…”
Section: Introductionmentioning
confidence: 99%
“…Meanwhile, the Solow growth model, an extension of Harrod Domar's theory, delineates how capital stock, labor force growth, and technological progress influence a country's output. It asserts a constant relationship between capital and labor as fundamental inputs driving economic growth [16][17][18]. Synthesis of these theories gives a comprehensive understanding of the interplay between investment, labor, and industrial growth, offering insights into strategies for fostering economic development in the manufacturing sector.…”
Section: Introductionmentioning
confidence: 99%