Dapatkah Negara Berkembang Mengejar Ketertingalannya? Melalui pembangunan Modal Manusia dan Ekonomi Kreatif

The economic growth in developing countries should be taken into consideration because it covers 81% of the world population. A policy to improve the welfare of developing countries is to boast a long run economic growth. A long run economi growth can be considered as an answer to economic revival. The world economic development is in the middle of a revolution and at the beginning of the fourth wave today. It can be achieved by human capital and creativity as main economic growth engines. The purpose of the research is to study the determinants of long run economic growth. The basic model used is an extended Keynesian model using human capital, and creative economy. The data used are panel data from 128 developing countries during 2002-2011 obtained from the United Nations Conference on Trade and Development and World Bank Country Profile. The dependent variable is the gross domestic product and the independent variables are the consumption, investment, human capital and creative economy. The data is analyzed using random effect model. The results of the study show that human capitaland creative economy are the determinants of long run economic growth. Developing countries can and should improve human capital and creative economy for a long run economic growth