•  
  •  
 

Jurnal Ekonomi dan Studi Pembangunan

Abstract

Formulating policies to enhance human well-being requires an urgent need to understand the drivers of human well-being. Therefore, the current study has proposed the socio-economic factors to investigate the main and moderate role of trade openness on Human Development for newly industrialized economies over 1990-2021. The current study shows the association between gross national income, urbanization, trade openness, labor force participation, foreign direct investment, and financial development. This study employs the fully modified and dynamic ordinary least squares for the reliable outcome. Empirical findings show that gross national income, urbanization, financial development, and labor force participation increase human development. Likewise, the long-term association of FDI has an insignificant impact on human development. Moreover, the main effect of trade openness significantly contributes to human development. In contrast, the moderate effect of openness with financial development and labor force shows a significant improvement in human development. Similarly, the moderate effect of FDI shows an insignificant contribution to human development. This study proposes the imperative policy implications for the NIC economies to boost human development.

First Page

101

Last Page

130

Download

Share

COinS