Financial Development, Human Capital, Economic Growth in Indonesia

English

Abstract

The purpose of this study is to investigate Financial Development, Human Capital, and Economic Growth in Indonesia. This study uses secondary data from the World Bank with a sample of 90 developing countries in an annual time period from 2000 to 2020 with the generalized method of moment (GMM). ) models. For the human capital development sector, we use two namely secondary school enrollment (SSE) and primary school pupil-teacher ratio (PPTR). We found that more schools are built and more teachers are working in the education sector, which is indicated by a decrease in the teacher-student ratio, which has an impact on increasing economic growth.