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THE EFFECT OF DIGITALIZATION DEVELOPMENT, TECHNOLOGICAL ECONOMIC GROWTH, AND HUMAN DEVELOPMENT INDEX ON ECONOMIC GROWTH IN INDONESIA
Economic growth is a key indicator reflecting a country's development performance. In the context of globalization and the digital era, factors such as digitalization, technology-based economic growth, and human capital quality are considered crucial drivers of economic performance. This study aims to analyze the effects of Digitalization Development (measured by the percentage of individuals using the Internet), Technological Economic Growth (measured by the percentage of medium- and high-tech exports to total manufactured exports), and the Human Development Index (HDI) on Indonesia's economic growth. The study employs annual time series data from 1990 to 2023 sourced from the World Bank, and UNDP. The analytical method used is the Vector Error Correction Model (VECM) to examine both the long-run and short-run relationships among variables. The results show that in the long run, Digitalization Development has a negative and significant effect on Indonesia’s economic growth, while Technological Economic Growth and the Human Development Index have a positive and significant effect. In the short run, none of the three variables show a significant effect, indicating that the impacts of digitalization, high-technology exports, and human capital improvement require time to translate into tangible economic growth. These findings highlight the importance of strategic policies to accelerate digital adoption in a way that optimally benefits the economy, strengthen high-tech industries, and improve human capital to foster sustainable economic growth. Keywords: Economic Growth, Digitalization Development, Technological Economic Growth, Human Development Index, VECM.
FAKULTAS EKONOMI DAN BISNIS ISLAM, UIN SUNAN KALIJAGA YOGYAKARTA
THE EFFECT OF DIGITALIZATION DEVELOPMENT, TECHNOLOGICAL ECONOMIC GROWTH, AND HUMAN DEVELOPMENT INDEX ON ECONOMIC GROWTH IN INDONESIA (Text)
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