The Determinant Effect of Macroeconomic Variables on Political Stability of Six ASEAN Member States

Zulfan Rumasoreng, Nurul Azizah Az Zakiyyah

Abstract


ASEAN (Association of Southeast Asian Nations) member countries experience complex political and economic dynamics, which are interrelated and can impact each other. Political stability and economic growth are critical to the success of a country. The dependent variable in this research is the Political Stability variable and the independent variables used in this study are the Economic Growth, Foreign Direct Investment, Inflation, and Exchange Rate variables. The purpose of this study is to determine how much influence macroeconomic variables have on the political stability of a country in the ASEAN region. The model used in this study is a panel data regression model.  The data source used in this study was obtained from the worldbank indicator. The time series data used is data from 2015-2022 and the cross section data used consists of six ASEAN member countries. The results showed that the economic growth variable and the inflation variable had a significant positive effect on political stability and the foreign direct investment variable and the exchange rate had no significant effect on the political stability variable of six ASEAN member countries.


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Publihser:
Universitas Ahmad Dahlan

Editorial Address:
Yogyakarta

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