THE HUMAN DEVELOPMENT INDEX IN ASEAN COUNTRIES

This study will examine the impact of monetary and fiscal policies simultaneously on human development in ASEAN countries. The fiscal policy indicators in this study are through approaches from government spending on education and health. Monetary policy indicators through approaches from bank credit to private and financial system deposits. The results of data processing revealed that the Human Development Index was influenced by monetary policy in the form of bank credit to private, financial system deposits and fiscal policy in the form of spending on health, while fiscal policy related to spending on education has a positive but not significant effect. To achieve these objectives, fiscal and monetary policies must be directed at improving human development. To look at the impact of fiscal policy on human development, it is not only limited to these indicators. Further research can be developed on other indicators, such as infrastructure spending, other social expenditures, and can even be developed in terms of state revenues. as easy as the monetary policy indicator can be expanded. In the context of HDI, monetary policy should be approached from the portion of loans received by micro and medium enterprises.