Analysis of the influence of investment, labor, and exports on the economic growth of Jambi Province

Abstract

This research aims to describe and analyze: 1) The development of economic growth in Jambi Province; 2) The influence of investment, labor and exports on economic growth in Jambi Province for the period 2000-2021. The method used is multiple regression model analysis using the Error Correction Model (ECM) approach, using secondary data from 2000-2021. The research results show that: First, the development of economic growth in Jambi Province from 2000-2021 was 5.53 percent, although it experienced a decline in 2020, due to the COVID-19 pandemic. In 2021, the economy will pick up again, driven by increased production and export performance. Second, investment variables in the long term and short term have a positive and insignificant influence on economic growth in Jambi Province. The variable number of workers in Jambi Province has a negative and significant influence on the economic growth of Jambi Province, while in the short term it has a negative and insignificant influence on the economic growth of Jambi Province. The export variable has a positive and significant influence on economic growth in Jambi Province both in the long and short term.