ANALISA SUMBER-SUMBER PERTUMBUHAN EKONOMI FILIPINA PERIODE 1994-2003

Abstract

Economic crisis hit South East Asia countries after depreciation of
Thailand’s currency toward US dollar. The indicator of economic crisis reflected
by decreasing of economic growth. This research describes empirical phenomenon
of economic growth in Philippine, using analysis method, dynamic model “Error
Correction Model” (ECM).
In the short run, significant contributions toward economic growth in
Philippine, caused by foreign investment and domestic debt. In the long run,
positive and significant contribution toward economic growth caused by export,
import, domestic investment, saving and government expenditure, macroeconomic
variables. Positive but not significant contribution caused by foreign investment.
Foreign and domestic debt caused negative and not significant toward economic
growth. This research can be used as one of references for improving economic
growth of Indonesia.