KnE Social Sciences
ISSN: 2518-668X
The latest conference proceedings on humanities, arts and social sciences.
Human Development Driven by Economic Growth, Trade, and Social Spending: Cases of Indonesia, Malaysia and Turkey
Published date: Nov 11 2024
Journal Title: KnE Social Sciences
Issue title: 8th International Seminar on Education 2024 (8th Isedu)
Pages: 239–242
Authors:
Abstract:
This essay discusses the relationship between international trade, economic growth, and human development in the cases of Indonesia, Malaysia, and Turkey. International trade, especially exports, is the surest path to sustainable economic growth. Economic growth on its own is not enough for human development and needs to be supported by social spending including health, education, social assistance, family benefits, etc. Malaysia is the best performer in terms of manufacturing exports among the three countries analyzed. On the other hand, Turkey devotes most resources to social spending among these three countries. I conclude with policy suggestions to improve economic growth and redistribution for each case.
Keywords: exports, social spending, Indonesia, Malaysia, Turkey
References:
[1] Studwell J. “How Asia works: Success and failure in the world’s most dynamic region”. Profile Books, 2013.
[2] Chang HJ. “Kicking away the ladder: Development strategy in historical perspective.” Anthem Press, 2002.
[3] Klein MC, Pettis M. “Trade wars are class wars: How rising inequality distorts the global economy and threatens international peace.” Yale University Press, 2020.
