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Abstract
The study aims to measure and compare the efficiency level of investment to boost economic growth in South Sumatera and Jambi Province. This study use quantitative approach with time series data between 2007 to 2016 from the Central Bureau of Statistic (BPS) and publication related to the study. The efficiency of investment was measured by Incremental Capital Output Ratio (ICOR) approach and analyzed using Ordinary Least Square (OLS). The study indicates that (1) the relationship between investment efficiency which measured by ICOR approach and economic growth of each provinces (South Sumatera and Jambi) is negative; (2) this research show that investment efficiency in Jambi Province give more effect to its economic growth than South Sumatera and Jambi Province has grown better than South Sumatera Province in the same development stage without an increase in the proportion of investment to Gross Domestic Regional Product.
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References
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- Badan Pusat Statistik Sumatera Selatan. (2008). Incremental Capital-Output Ratio. Katalog BPS. Sumatera Selatan.
- Badan Pusat Statistik. (2017). Sumatera Selatan Dalam Angka 2017. Katalog BPS. Sumatera Selatan.
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- Hakim, Abdul. (2004). Ekonomi Pembangunan. Yogyakarta: Penerbit
- Ekonisia.
- Heng, M T., & Choong, W. (2002). Efficiency of Invesment in Asian Economies: Has Singapore Over-Invested. Journal of Asian Economics, 13: 52-71.
- Irawan, Y. (2010). Analisis Incremental Capital Output Rasio di Provinsi Sumatera Utara. Jurnal Ekonomi dan Bisnis, 9(2): 1-8.
- Jhingan, M. L. (2012). Ekonomi Pembangunan dan Perencanaan. Jakarta: PT Raja Grafindo Persada.
- Jun, Zhang. (2003). Invesment, Invesment Efficiency and Economic Growth in China. Journal of Asian Economics. 14: 713-734.
- Mahmud, M. F. (2008). Incremental Capital Output Ratio: Barometer Efisiensi Perekonomian Nasional. Jurnal Ekonomi Bisnis. 13(1): 27-37.
- Pangiuk, Ambok. (2017). Pengaruh Investasi dan Pengeluaran Pemerintah Terhadap Pertumbuhan Ekonomi Provinsi Jambi. Iltizam Journal of Shariah Economic Research, 1(1): 1-20.
- Prasad, P. E. (2012). Fundamental Macro-Economy. Yogyakarta: Offset Beta have now.
- Uma, S. (2000). Research Methods for Business. New York: John Wiley & Sons, Inc. Third Edition.
- Situmorang, A.T., & Sugiyanto, F.X. (2011). Pengaruh Efisiensi Perekonomian Terhadap Pertumbuhan Ekonomi 32 Provinsi di Indonesia.
- Suhel, & Bashir, A. (2018). The role of tourism toward economic growth in the local economy. Economic Journal of Emerging Markets, 10(1), 32–39. https://doi.org/10. 20885/ ejem.vol10.iss1.art4.
- Sukirno, Sadono. (2006). Ekonomi Pembangunan: Proses, Masalah, dan Kebijakan. Jakarta: Kencana Prena dan Media Group.
- Suryana. (2014). Kewirausahaan, Edisi keempat. Jakarta: Salemba Empat.
- Taguchi, H., & Lowhachai S. (2014). A Revisit to the Incremental Capital Output Ratio: The Case of Asian Economies and Thailand. Journal of Economic Policy in Emerging Economic. 7: 35-54.
- Yuliana, S., Bashir. A. & Rohima, S. (2019). The Effect of Investment toward Economic Growth in the Local Economy. Jurnal Ekonomi dan Studi Pembangunan, 11(1): 28-39.
References
Arsyad, L. (2010). Ekonomi Pembangunan. Yogyakarta: Penerbit dan Percetakan STIM YKPN.
Badan Pusat Statistik Sumatera Selatan. (2008). Incremental Capital-Output Ratio. Katalog BPS. Sumatera Selatan.
Badan Pusat Statistik. (2017). Sumatera Selatan Dalam Angka 2017. Katalog BPS. Sumatera Selatan.
Badan Pusat Statistik. (2017). Jambi Dalam Angka 2017. Katalog BPS. Jambi.
Djojohadikusomo, Sumitro. (1994). Development of Economic Thought - Basic Theory of Economic Growth and Economic Development. Second printing. Jakarta: PT Pustaka LP3ES.
Hakim, Abdul. (2004). Ekonomi Pembangunan. Yogyakarta: Penerbit
Ekonisia.
Heng, M T., & Choong, W. (2002). Efficiency of Invesment in Asian Economies: Has Singapore Over-Invested. Journal of Asian Economics, 13: 52-71.
Irawan, Y. (2010). Analisis Incremental Capital Output Rasio di Provinsi Sumatera Utara. Jurnal Ekonomi dan Bisnis, 9(2): 1-8.
Jhingan, M. L. (2012). Ekonomi Pembangunan dan Perencanaan. Jakarta: PT Raja Grafindo Persada.
Jun, Zhang. (2003). Invesment, Invesment Efficiency and Economic Growth in China. Journal of Asian Economics. 14: 713-734.
Mahmud, M. F. (2008). Incremental Capital Output Ratio: Barometer Efisiensi Perekonomian Nasional. Jurnal Ekonomi Bisnis. 13(1): 27-37.
Pangiuk, Ambok. (2017). Pengaruh Investasi dan Pengeluaran Pemerintah Terhadap Pertumbuhan Ekonomi Provinsi Jambi. Iltizam Journal of Shariah Economic Research, 1(1): 1-20.
Prasad, P. E. (2012). Fundamental Macro-Economy. Yogyakarta: Offset Beta have now.
Uma, S. (2000). Research Methods for Business. New York: John Wiley & Sons, Inc. Third Edition.
Situmorang, A.T., & Sugiyanto, F.X. (2011). Pengaruh Efisiensi Perekonomian Terhadap Pertumbuhan Ekonomi 32 Provinsi di Indonesia.
Suhel, & Bashir, A. (2018). The role of tourism toward economic growth in the local economy. Economic Journal of Emerging Markets, 10(1), 32–39. https://doi.org/10. 20885/ ejem.vol10.iss1.art4.
Sukirno, Sadono. (2006). Ekonomi Pembangunan: Proses, Masalah, dan Kebijakan. Jakarta: Kencana Prena dan Media Group.
Suryana. (2014). Kewirausahaan, Edisi keempat. Jakarta: Salemba Empat.
Taguchi, H., & Lowhachai S. (2014). A Revisit to the Incremental Capital Output Ratio: The Case of Asian Economies and Thailand. Journal of Economic Policy in Emerging Economic. 7: 35-54.
Yuliana, S., Bashir. A. & Rohima, S. (2019). The Effect of Investment toward Economic Growth in the Local Economy. Jurnal Ekonomi dan Studi Pembangunan, 11(1): 28-39.