Abstract:
Globalization and liberalization increasingly provide opportunities for each country to
increase regional and global cooperation. Socio-economic integration is also increasing,
along with community cooperation in the regional and global scope. This study aims to
determine the effect of remittances and other macroeconomic variables such as FDI,
inflation, and export-import on GDP per capita in ASEAN 6 countries. The panel data
analysis method used is regression using panel data sourced from the World Bank and
ASEAN datasets in the form of annual data. The estimation results from FEM found
that exports and remittances showed a significant positive effect on GDP per capita in
ASEAN 6. In addition, imports showed a significant negative effect on GDP per capita
in ASEAN 6. Meanwhile, several macroeconomic variables that were not significant
were FDI, which showed a significant negative effect. Positive but not significant,
inflation has a negative but not significant effect on GDP per capita in ASEAN 6. The
emphasis on the positive effect of remittances on GDP per capita proves that the flow of
remittances into developing countries will help increase income per capita. Vice versa,
a crisis that hinders the increase in the enthusiasm of emigrants. The COVID-19
pandemic delays the emigrant's production activities and increases that will hinder the
flow of remittances into the country of origin, such as in ASEAN 6 countries.
