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Abstract:
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This research has objective to study the overview of National Economic and Social Development Plan of countries in ASEAN Economic Community and to study of factors effecting economic growth of countries in ASEAN Economic Community using panel quantile regression. The data used in research is annual secondary data covering 2000 to 2015 period, with a total of 16 years. This study has members of ASEAN Economic community countries include Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. The economic growth of the country was represented by the growth rate of gross domestic product (GDPG). According to the research regarding the overall image of National Economic and Social Development Plan of countries in ASEAN Economic Community, it was found that all ASEAN community countries in the study, there were the goals to focus on infrastructure development and human capital development for support the expansion of economic stability and sustainable in the long term. And found that some countries had the same objective in developing economies, five countries had the goal of upgrade country economics to international level such as Cambodia, Indonesia, Malaysia, Singapore and Vietnam, while some countries had different way in the developing such as the Philippines focused on strengthening good governance and anti-corruption and Thailand which focused on developing the philosophy of sufficiency economy for sustainable growth.
The results of this study showed that factors effecting economic growth of countries in ASEAN economic community using panel quantile regression was that the growth rate of foreign direct investment (FDIG) effects the growth rate of gross domestic product in the same way only quantile at 0.5 and quantile at 0.75, when the growth rate of economic growth was in middle and high level. Moreover, the growth rate of the ratio of population growth to gross domestic product (POPG) effects the growth rate of gross domestic product in the same way only quantile at 0.75, when the growth rate of economic growth was in high level. In addition, the study also found Inflation rate (INFR) and the growth rate of the ratio of savings to gross domestic product (GDSG) does not statistically significant effect the growth rate of gross domestic product (GDPG) in all levels of quantile.
Key word : Economic Growth, National Economic and Social Development Plan, ASEAN, Panel Quantile Regression
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