Human Resource in Economics Development

The goal of this research is to figure out how production parameters affect Indonesia’s economic growth. Economic growth can be used as a gauge of progress that reflects a country’s citizens’ well-being. This study’s sources of economic growth are based on the production factors approach, which includes capital, labour, and technology. In comparison to capital and technology production factors, labour production factors contribute the most to Indonesian economic growth. However, when compared to the rest of ASEAN, the quality of Indonesia’s human resources is the lowest. The Neo Classical economic growth model created by Abramovit and R.M. Solow uses the Cobb Douglas production function, which has been altered in the multiple regression equation, to measure the contribution of each factor of production to Indonesia’s economic growth. The findings of this study show that labour and capital components have a significant impact on GDP.

Author(S) Details

Wilson Bangun
Faculty of Business, Maranatha Christian University, Indonesia.

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