THE EFFECT OF INVESTMENT, WORK FORCE, AND EDUCATION LEVEL ON THE REAL GROWTH OF GRDP IN THE BANGKA BELITUNG ISLANDS

Abstrak. The objective of this study is to examine the impact of investment, workforce, and education level on the real Gross Regional Domestic Product (GRDP) growth in Bangka Belitung Province, both individually and collectively. The research adopts a quantitative descriptive approach, utilizing panel data regression analysis as the research method. Time series data from BPS Bangka Belitung Islands is employed for the study. The findings of this research are as follows: 1) There is a significant simultaneous effect of investment, workforce, and education level on the real GRDP growth in Bangka Belitung Islands Province. 2) There is a significant partial effect of investment, workforce, and education level on the real GRDP growth in Bangka Belitung Islands Province. 3) Among the three variables under investigation (investment, workforce, and education level), the variable with the most dominant influence on the GRDP of Bangka Belitung Islands is the Labor Force variable. In conclusion, this study confirms that investment, workforce, and education level collectively and individually contribute significantly to the real GRDP growth in Bangka Belitung Islands Province. Moreover, the Labor Force variable emerges as the most influential factor among the three variables. These findings provide valuable insights for policymakers and stakeholders in devising strategies to promote sustainable economic growth in the region, emphasizing the importance of investment, workforce development, and education in fostering economic progress in Bangka Belitung Province.


INTRODUCTION
National development is a series of sustainable efforts that cover the entire life of society, nation, and state to achieve national development goals. This is by the Preamble of the 1945 Constitution which is to protect the whole nation and all of Indonesia's bloodshed. The implementation of this development involves all aspects of national life, such as political, economic, socio-cultural, and defense and security aspects in a planned, comprehensive, directed, integrated, gradual and sustainable manner. One of the goals of National Development is to improve the welfare of the people, so to achieve this goal the Government implements Economic Development.
Development is defined as an effort or a series of planned growth and change efforts carried out consciously by a nation, state, and government, toward modernity in the context of nation-building (Kato et al., 2021).
According to (Effendi, 2002) development is "an effort to increase all resources that are carried out in a planned and sustainable manner with the principle of equal and fair use." (Dewi, 2015) In this case, it can be said that development is oriented towards community development, where education occupies a primary position to open people's insight and awareness of better directions and ideals. Development progress in the economic sector is measured by economic growth. Indicators that can be used to view and measure economic growth are 1) Gross Domestic Product (GDP), namely the number of final goods and services produced in one period, 2) Per Capita GDP or Per Capita Income, and 3) Income Per Hour Work (Sukirno, 2000).
Regional development is part of national development based on regional autonomy by Regional Autonomy Law No. 32 of 2004, which is implemented to improve people's welfare and is carried out with economic development in the region. The success of the development of a region can be seen from the level of economic growth. Therefore, each region always sets a high economic growth rate target in its regional development plans and goals. High and sustainable economic growth is the main condition for the continuity of economic development. The implementation of economic development in Indonesia has always been oriented toward success in the economic sector. The measure of the success of development in Indonesia is the level of economic growth.  Table 1 shows data on the economic growth of the Bangka Belitung Islands province for the last 7 years which has tended to decline and is relatively lower compared to Lampung province but relatively better compared to Riau and Riau Islands provinces. This is interesting to study considering that the province of Kep. Bangka Belitung with an area of 82,724.54 km2. is a potential area in the mining sector such as tin, kaolin, granite, and sea sand. In addition to metal and energy mineral commodities, this area also has potential industrial mineral resources which have the potential to be developed commercially. To support regional economic development efforts, local governments need to make policies that support mutually beneficial investment for local governments, the private sector, and the community. The growth of a healthy and competitive investment climate is expected to spur the development of investment that is mutually beneficial to regional development. To see the development of the realization of Domestic Investment (PMDN) and Foreign Investment (PMA) in the Bangka Belitung Islands Province, can be seen in the following table:  Table 2 shows FDI investment in the Bangka Belitung Islands has fluctuated and tends to increase, while PMDN tends to increase from year to year. The proportion of PMDN and FDI investments and the decline in investment growth in the Bangka Belitung Islands does not mean that economic development is running slowly and vice versa, because what is important is not the amount of investment in terms of money or the number of projects, but how efficient or productive the investment is.
In addition to investment, the growth of the working-age population can have a very complex impact on employment conditions. The more population of the Grdp In The Bangka Belitung Islands workforce means the greater the human resources that are active in economic activities so that they can have a positive impact on regional development. However, if population growth is not followed by a balanced level of employment, it will have an impact on the unemployment rate and will also have an impact on development activities.

MATERIALS AND METHODS
The research method used is an explanatory study or hypothesis testing study which aims to explain and test hypotheses about the relationship between variables. The relationship described is causal (cause and effect) (Silalahi, 2012).
In this study, a causal relationship was analyzed from the research variables, namely investment, workforce, education level, and their influence on the real growth of GRDP.
In this study, secondary data was used Regarding data adequacy, the OLS (Ordinary Least Square) method requires that the amount of data used must be greater than the sum of all the variables involved in the model (Gujarati et al., 2008), with data processing using the Eviews program Version 12.0.

RESULTS AND DISCUSSION
The results of selecting the model using the best analytical test are presented in full by the estimation results of Common Grdp In The Bangka Belitung Islands Effects, Fixed Effects and Random Effects as follows: