Financial development and regional human development: does capital expenditure matter?
by Grahita Chandrarin; Anwar Sanusi; Elfiatur Roikhah; Dani Yuniawan; Diyah Sukanti Cahyaningsih
International Journal of Trade and Global Markets (IJTGM), Vol. 15, No. 3, 2022

Abstract: This paper examines the impact of financing decision (FD) and financial inclusion (FI) on the human development index (HDI). Capital expenditure (CE) as a contingency factor that can improve the impact of financing decisions on HDI. Small and medium-size enterprises financing (SMEs F) and income equality (IE), both are used as control variables. Panel data is consist of all province in Indonesia for seven years since issued government's regulation regarding sustainable development. Data were analysed by moderated regression analysis. The result of this study stated that the impact of FD and FI on HDI is statistically significant. Capital expenditures can be strengthening the impact of financing decisions on HDI.

Online publication date: Tue, 12-Jul-2022

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