Analysis of the Impact of Population Growth, Inflation Rate, and Foreign Investment on Economic Growth in Eight Developing Countries from an Islamic Economic Perspective
DOI:
https://doi.org/10.24090/jimrf.v13i2.11447Keywords:
Economic Growth, Population Growth, Foreign Direct Investment, Islamic EconomicsAbstract
This study aims to examine the impact of population growth, inflation rate, and foreign direct investment on economic growth in eight developing countries from the perspective of Islamic economics. Secondary data were sourced from the World Bank for the period 2016 to 2021. Panel data regression analysis was employed to test the established hypotheses, considering these independent variables. The results indicate that population growth, inflation rate, and foreign direct investment do not have a significant effect on economic growth in these countries during the study period. These findings are interpreted within the framework of Islamic economics, which emphasizes principles of economic justice, wealth distribution, and resource management in accordance with Shariah law. This research provides deep insights into how conventional economic factors interact with Islamic economic principles and their implications for economic policy in developing countriesReferences
Arisman, A., Al Arif, M. N. R., & Harahap, D. (2021). Trade Agreement and Economic Growth: Evidence in D-8 Countries. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 311–324. https://doi.org/10.15408/sjie.v10i2.21457
Aydın, C., Esen, Ö., & Bayrak, M. (2016). Inflation and Economic Growth: A Dynamic Panel Threshold Analysis for Turkish Republics in Transition Process. Procedia - Social and Behavioral Sciences, 229, 196–205. https://doi.org/10.1016/j.sbspro.2016.07.129
Azulaidin, A. (2021). Pengaruh Pertumbuhan Penduduk Terhadap Pertumbuhan Ekonomi. Juripol, 4(1), 30–34. https://doi.org/10.33395/juripol.v4i1.10961
Developing8. (2024). No Title. https://developing8.org/about-d-8/purposes-objectives/
Didu, S., Anwar, C. J., Suhendra, I., Chendrawan, T. santika, & Kholishoh, L. N. (2022). The Impact Of Foreign Direct Investment, Employment Rate, And Population Growth On The Eg Of Developing Countries. International Journal Of Economics Finance Studies, 14(04), 202–218. https://doi.org/10.34109/ijefs.
Ekinci, R., Tuzun, O., & Ceylan, F. (2020). The relationship between and economic growth: Experiencing some inflation targeting countries. Financial Studies, 24(1 (87)), 6–20.
Gandhi, E. A., Pasaribu, E., Ekaputri, R. A., & Febriani, R. E. (2022). Investasi Asing Langsung dan Pertumbuhan Ekonomi: Perbandingan Empiris Indonesia dan Singapura. Ecoplan, 5(2), 159–170. https://doi.org/10.20527/ecoplan.v5i2.563
Handayani, N., Wijaya, I., & Kustiyarini, E. (2023). Analysis of the Influence of Inflation , Foreign Investment ( FDI ), and Labor on Economic Growth in East Java. 8(2).
Jufrida, F., Syechalad, M. N., & Nasir, M. (2017). Analisis Pengaruh Investasi Asing Langsung (FDI) Dan Investasi Dalam Negeri Terhadap Pertumbuhan Ekonomi Indonesia. Jurnal Perspektif Ekonomi Darussalam, 2(1), 54–68. https://doi.org/10.24815/jped.v2i1.6652
Kartika, Y. D., & Pasaribu, J. P. K. (2023). Pengaruh Inflasi Terhadap Pertumbuhan Ekonomi Di Indonesia Periode 2013-2021. Jurnal Ilmu Manajemen Dan Kewirausahaan, 2(1), 131–137. https://doi.org/10.35508/jom.v13i3.3311
Lamah, A. I. A., Yanto, H., & Setyadharma, A. (2021). The Impact of Consumer Price Index, Foreign Direct Investment, Bank Credit and Labour Force on Economic Growth in Indonesia. Business and Economic Analysis Journal, 1(2), 79–91. https://journal.unnes.ac.id/nju/index.php/beaj/article/view/33588
Makki, S. S., Somwaru, A., & Bolling, C. (2004). Determinants of foreign direct investment in the food-processing industry: a comparative analysis of developed and developing economies. Journal of Food Distribution Research, 35(3), 60–67. http://ageconsearch.umn.edu/bitstream/27558/1/35030060.pdf
Nur’aidawati, S., & Nurmasari, I. (2021). Pengaruh Pertumbuhan Penduduk Dan Pertumbuhan Industri Terhadap Pertumbuhan Ekonomi Di Kota Tangerang Selatan. PROSIDING SENANTIAS: Seminar Nasional Hasil Penelitian Dan Pengabdian Kepada Masyarakat, 1(1), 107–116. http://openjournal.unpam.ac.id/index.php/Senan/article/view/8241
Rofii, A. M., & Ardyan, P. S. (2017). Analisis Pengaruh Inflasi, Penanaman Modal Asing (Pma) Dan Tenaga Kerja Terhadap Pertumbuhan Ekonomi Di Jawa Timur. JEB 17 Jurnal Ekonomi & Bisnis, 2(1), 303–316.
Salim, A., & Fadilla. (2021). Pengaruh Inflasi Terhadap Pertumbuhan Ekonomi Indonesia Anggun Purnamasari. Ekonomica Sharia: Jurnal Pemikiran Dan Pengembangan Ekonomi Syariah, 7(1), 17–28. https://ejournal.stebisigm.ac.id/index.php/esha/article/view/268
Simanungkalit, E. F. B. (2020). Pengaruh Inflasi Terhadap Pertumbuhan Ekonomi Di Indonesia. Journal of Management : Small and Medium Enterprises (SMEs), 13(3), 327–340. https://doi.org/10.35508/jom.v13i3.3311
The World Bank. (2023). World Bank Open Data. The World Bank Group. https://data.worldbank.org/
Wibangga, W. A. M. P. (2022). Impact And Influence Of Inflation , Economic Growth , And Inflation In Indonesia : VECM Analysis. 7(1), 28–34.
Yenny, N. F., & Anwar, K. (2020). Pengaruh Jumlah Penduduk Terhadap Pertumbuhan Ekonomi Di Kota Lhokseumawe. Jurnal Ekonomika Indonesia, 9(2), 19. https://doi.org/10.29103/ekonomika.v9i2.3181
Yulianto, F. (2017). The Impact of Inflation on Economic Growth (Case Study in Indonesia 1987-2016). 14(March).
Yunianto, D. (2021). Analisis pertumbuhan dan kepadatan penduduk terhadap pertumbuhan ekonomi. Forum Ekonomi, 23(4), 688–699. https://doi.org/10.30872/jfor.v23i4.10233
Zulfa, A. (2016). Pengaruh Pertumbuhan Penduduk dan Pertumbuhan Ekonomi terhadap Tingkat Pengangguran di Kota Lhokseumawe. Jurnal Visioner&Strategis, 5(1), 13–22. https://jurnal.unimal.ac.id/visi/article/view/226
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Rokhimah, Fitrah Ariyani, Nur Aisyah Indarningsih, Karfin, Andi Hasrun
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
