PENGARUH UTANG LUAR NEGERI TERHADAP PERTUMBUHAN EKONOMI DI ASEAN

NURFITRIA. 8105142691. The Impact of External Debt on Economic Growth in ASEAN. Study Program of Economics Education. Faculty of Economics. State University of Jakarta. 2019 This research aims to determine the impact of external debt on economic growth in 5 ASEAN developing countries, period 2000-2018. Based on the literature, this research uses linear analysis with ordinary least square to examine the impact of external debt’s indicators: debt service ratio and external debt to GNI. Then to find out more about turning point in external debt hangover, we use quadratic regression as nonlinear analysis by indicator DSR. The results of the linear analysis obtained indicate the negative impact of DSR and the positive impact of EDGNI on economic growth. Simultaneously DSR and EDGNI have an impact of 18%. While the results of the nonlinear analysis found a DSR turning point of 23%. We can conclude that reasonable external debt (below the turning point) will encourage economic growth. Keywords: external debt, economic growth, debt service, GN