Analysis of the Influence of Information and Communication Technology on Economic Growth in 5 ASEAN

Analyzing the impact of technology, information, and communication on economic growth is the objective of this study. The panel data used in this study covers five countries in ASEAN from 2009 to 2019. Regression Ordinary Least Square (OLS) with Fixed Effect Model (FEM) was used as the analysis method. Internet users, mobile phone users, gross fixed capital formation (PMTB), and labor (TK) were used as independent variables. The natural logarithm of national income is then used as the dependent variable. The results show that the internet user variable does not affect economic growth. Meanwhile, the number of mobile phone users has a significant and beneficial impact on the growth of the economy. In addition, the gross fixed capital formation and labor variables show significant results and promote economic growth. Policy implications that can be carried out by the government or the private sector is required to make efforts to increase the use of mobile cellular through an increase in ICT infrastructure that is more equitable so that the population can make better use of ICT in their economic activities such as e-commerce which can boost output from the expenditure side, namely consumption so that economic growth increases.

Keywords: Technology, Information and Communication, Economic Growth, National Income, Fixed Effect Model

JEL Classifications: C33, E23, O40