Total Natural Resources, Human Resources, Industrial Value Added, Technology and Economic Growth in Southeast Asia: Evidence of the Inability to Avoid the “Natural Resource Curseâ€

Marsi Adi Purwadi, Setyo Tri Wahyudi, Ida Ayu Purba Riani, Dhiar Dwi Atmaja, Tutun Arjuna Kende

Abstract


The objective of this study is to examine the impact of Total natural resources (TNR), Human capital (HC), Industry Value Added (IVA), and Technology (IT) on the Economic Growth of nations in Southeast Asia. The data used in this study spans a period of 10 years and is subjected to analysis utilizing a panel data model. The study results indicate that, except from TNR, there are no other factors that have a statistically significant and favorable impact on the economic progress of nations within the Southeast Asian region. This observation suggests that the economies of Southeast Asian nations heavily rely on natural resources as a catalyst for their economic development. If this pattern persists, it is foreseeable that these countries may eventually encounter a phenomenon sometimes referred to as the “natural resource curseâ€.

Keywords


Economic Growth, Human Resources, Industrial Value Added, Natural Resource Curse, Technology, Total Natural Resources

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