Analysis of Ibn Khaldun^s Sustainable Economics in G20 Countries from 2000 to 2019. Shoffan Maulana
Faculty of Economics and Business, Airlangga University
Jalan Airlangga No. 4-6, 60115, Surabaya City, East Java
shoffan.maulana-2021[at]feb.unair.ac.id
Abstract
The purpose of this study is to investigate the factors of sustainable economic growth using the neo-classical model of economic growth by Ibn Khaldun. This model consists of five variables: labor, capital accumulation, agriculture, trade, and inflation from 2000 to 2019. This study employs panel data regression analysis with G20 member countries. The results show that the five variables significantly affect economic growth in G20 countries. Based on this research, we can say that Ibn Khaldun^s theory of sustainable economic growth is still applicable, especially in big countries like the G20 countries.
