INTERNATIONAL TRADE RELATIONS, ECONOMIC OPENNESS, HUMAN CAPITAL AND ECONOMIC GROWTH OF APEC UPPER MIDDLE INCOME COUNTRIES: A SHARIAH ECONOMIC PERSPECTIVE

Mu'amalatul, Kholiq and Heni, Noviarita and Muhammad, Kurniawan INTERNATIONAL TRADE RELATIONS, ECONOMIC OPENNESS, HUMAN CAPITAL AND ECONOMIC GROWTH OF APEC UPPER MIDDLE INCOME COUNTRIES: A SHARIAH ECONOMIC PERSPECTIVE. IJEBAR : International Journal Of Economics, Business and Accounting Research.

PDF Download (1MB)

Abstract

ABSTRACT The main problems faced by Indonesia, Malaysia, and Thailand related to international trade, economic openness, and human capital and economic growth include dependence on exports of low-value added commodities, the formation of a global economy that affects trade volumes, and limitations in attracting quality FDI. In addition, the suboptimal quality of human capital due to lack of investment in education and training hampers labor productivity, limiting the ability of these countries to drive sustainable economic growth. This study aims to analyze the relationship between international trade relations, economic openness, and human capital to the economic growth of three APEC upper-middle-income countries, namely Indonesia, Malaysia and Thailand. This research is quantitative and descriptive. The data used is secondary data in the form of panel data for the 2014-2023 period obtained from the World Bank. Analysis using Eviews software 10. The results of the study provide the fact that imports and Human Capital have an effect on economic growth while exports and economic openness have no effect on economic growth in the three Upper Middle Income Countries (APEC). In Islamic economics, international trade, economic openness, Human Capital and economic growth are interrelated and must be implemented based on Islamic principles. The application of Islamic values in economic activities is expected to create a just, prosperous, and sustainable society, in accordance with the main goal of Islamic law to achieve the welfare of mankind. Keywords: International Trade, Economic Openness, Human Capital, Economic Growth, Shariah Economic. © 2025, Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam.

Actions (login required)

View Item