The Effect of Social Factors to Economic Growth

Social factors are great drivers of economic growth and it could result to tangible benefits that can trigger sustainable development. This paper argues that social factors can contribute to sustainable economic growth because social development leads to healthy, educated and productive citizens who can bring economic contributions. This paper intends to explore the effect of social factors to economic growth through a time series analysis among 58 countries (n=290 data) over the period 2014 to 2018. By conducting correlation and regression analyses, the study highlights that social factors such as population, health, education, development, labor force, environment, military, and geography have significant relationships and effect with the economic growth indicators such as GDP, GDP growth, GDP-per-capita, GNI, GNI-per-capita, manufacturing, and tourism.