Persepsi Korupsi dan Kondisi Makroekonomi Terhadap Investasi Asing Di Indonesia, Filipina dan Thailand

Regina Niken Wilantari, Gelora Seven Saragih, Fajar Wahyu Prianto

Abstract


Countries in the ASEAN region largely classified as a developing countries. Economic development in developing countries more slowly or lagging from behind developed countries. To catch up, needed enormous capital flows which can not be fulfilled by the flow of capital of domestic. The flow of foreign capital in the form of FDI can be solution in dealing with the limitations of domestic capital.  FDI can be potential supporting sector in implementing economic development,  besides transferring technologies  and skill.  The entry of FDI  into the country can not be separated from the macroeconomic stability  of  the  country.  The  purpose  of  this  research  was  to  determine  the  effect  of  indicators  of  fundamental Macroeconomics  consisting  of  economic  growth,  interest  rate,  and  exchange  rate  on  FDI  in  five  ASEAN countries (Indonesia,  Singapore,  Malaysia,  Thailand,  and  the  Philippines).  The  research  use  two  analysis  method,  they  are descriptive and quantitative analysis by using Panel  Data Regression method which Fixed Effect  Model  approach. The result of Panel Data Regression which Fixed Effect Model approachshowed that the effect of variables of economic growth and the exchange rate  on positive and significant,  while the effect  of variable interest  rate showed on positive significant.


Keywords


FDI; Inflation; Exchange Rate;Corruption Perception Index; PLS

References


Akcay, S., 2001. Is Corruption an Obstacle for Foreign Investors in Developing Countries? A Cross-Country Evidence. Yapi Kredi Economic Review, 12(2): 27-34.

Alam, Sadaf dan Iqbal, ANUM. 2014. Determinants of FDI Inflows In Pakistan: An Empirical study (1991-2012). GMJACS, Vol 4, No 2, pp.177-2014.

Bardhan, P. 1997. Corruption and Development: A Review of Issues. Journal of Economic Literature. Vol. 35:1320-1346.

Benassy-Quere, Agnes, et al. 2011. Global Currencies for tomorrow: A Europen perspective. Economic Paper 444, Juli 2011.

Cahyanto, Arief Bagus. 2012. Analisis Variabel Ekonomi Makro Terhadap Penanaman Modal Asing di Indonesia tahun 2005 QI-2011 QII .Malang: Universitas Brawijaya.

Case, Karl dan Fair, Ray. 2007. Prinsip-prinsip Ekonomi. Jakarta: Penerbit Erlangga

Demirhan, Erdal & Masea, Mahmut, 2008 Determinants of Foreign Direct Investment Flows to Developing Countries: A Cross Sectional Analysis. Vol.7 No.8.63-70.

Dhakal, D.,Mixon, F. & Upadhyaya, k. 2007. Foreign Direct Investment and Transition Economies: Empirical Evidence from a Panel Data Estimator. Economics Bulletin Vanderbitt Education, Vol. 6, (No.33) : 1-9.

Dornbusch, R., Fisher, S., Startz, R. 2004. Makroekonomi. Edisi Bahasa Indonesia Jakarta: PT. Media Global Edukasi.

_2008. Maroekonomi. Jakarta: PT Media GlobalEdukasi.

Ekananda, Mahyus. 2015. Ekonomi Internasional. Jakarta : Penerbit Erlangga

Eliza, Messayu. 2013. Analisis Pengaruh Variabel Makroekonomi Terhadap Investasi Asing di Indonesia (Tahun 2000:1 – 2011:4).Malang; Universitas Brawijaya.

Fitriany, R. 2015. Pengaruh Variabel Makroekonomi terhadap Indeks Harga Saham gabungan (IHSG) dan Jakarta Islamic Index (JII) tahun 2006.1-2013.12.Skripi Fakutas Ekonomi dan Bisnis.Jember: Universitas Jember.

Gujarati, Damodar. 2004. Basic Econometrics (Ekonometrika Dasar). Jakarta: Penerbit Erlangga

Habib, Mohsin dan Zurawicki, Leon. 2002. Corruption and Foreign Direct Investment, Journal of International Bussiness Studies Vol.33, No.2, Palgrave Macmillan Journals.

Hoang, H. Hong, dan Bui, H. Duc. 2015. Determinants Of Foreign Direct Investment In ASEAN: A Panel Approach Management Science Letters,Vol 5, No.18.PP.213-322.

International Monetary Fund (2019). World Economic Outlook (Washington:IMF).

Jamli, Ahmad 1992. Ekonomi Internasional. Yogyakarta: Media Widya Mandala.

Jhingan, 2000. Ekonomi Pembangunan dan Perencanaan, Jakarta : Rajawali Press.

Krugman, Paul R. Dan Obstfeld, Maurice. 2012. InternationalEconomics.Scott, Foresman/Littke, Brown College Divission.

Laporan Bank Indonesia. 1998-2017. www.bi.co.id.Diakses Maret 2019.

Lipsey et al., 1997. Pengantar Makroekonomi. Edisi Kesepuluh. Jakarta: Binapura Aksara.

Lindert dan Kindelberger. 1993. Ekonomi Internasional. Edisi ke 8. Erlangga,Jakarta.

Malik, Saifullah dan Malik, A. Qaisar. 2013. Empirical Analysis of Macroeconomic Indicators as Determinants of Foreign Direct Investment In Pakistan. IOSR Journal of Business and Management, Vol 7, Issue 2, PP. 77-82, ISSN: 2278-487X.

Mankiw, N. Gregory. 2007. Makroekonomi, Edisi ke 6. Jakarta: Erlangga

Setyowidodo, Dimas. 2010. Analisis Pengaruh Indikator Fundamental Makroekonomi (Ekspor,PengeluaranInvestasi Pemerintah,Inflasi, Nilai Tukar ) dan Krisis Keuangan Dunia 2008 Terhadap Penanaman Modal Asing di Indonesia Periode 2003:12009:3.Malang: Universitas Brawijaya.

Susanto, Joko. 2012. Determinan Penanaman Modal Asing Langsung di ASEAN, JRMB, Vol. 7, No 1. Yogyakarta: Fakultas Ekonomi UPN Veteran.

Todaro, P. Michael., Smith C. Stephen. 2002. Economic Development. 11 the Edition. United States of America. Addison-wesley. Transparency Internasional. “Transparency Internasional Bribe Payers Index (BPI) 2010’, Transparency Internsional, Berlin, 2010.

Udo, Eli A & Obiora, Isitua K. 2006. Determinants of Foreign Direct Investment and Economic Growth in the West African Monetary Zone: A System Equtions Approach. Fakultas Ekonomi Universitas Pembangunan Nasional “Veteran”

Walsh, James. P & Yu, Jiangyan. 2010. Determinants of Foreign Direct Investment: A Sectoral and Institutional Approach, Working Paper. IMF.

Wadhawa, Karvita. 2011.,Foreign Direct Investment into Developing Asian Countries: The Role of Market Seeking, Resource Seeking and Efficiency Seeking Internastional Journal of Business and Management, Vol. 6, No.11, 219-226.

www.imf.org

www.wordbank.org




DOI: https://doi.org/10.21107/mediatrend.v15i1.6745



Copyright (c) 2020 Media Trend

Creative Commons License

Mediatrend © 2015 - Journal of Economic & Development Studies | Development Economics Program - Faculty of Economics and Bussiness, Trunojoyo University