Faktor-Faktor yang Mempengaruhi Penanaman Modal Asing di Indonesia Periode 1997-2023
Abstract
Abstract. This study aims to examine the impact of corruption control, market openness, labor productivity, regulatory quality, and minimum wage on foreign direct investment (FDI) in Indonesia. Foreign direct investment (FDI) exerts a profound impact on the macroeconomic and microeconomic landscape of a nation. Corruption control, market openness, labor productivity, regulatory quality, and minimum wage are factors that investors take into account when determining whether to invest funds in a particular country. This research employs quantitative methods with secondary data. The study observed related variables from 1997 to 2023, which were then processed using the least squares method. The results demonstrated that corruption control and minimum wage at the 5% significance level had no effect on FDI, whereas market openness, labor productivity, and regulatory quality at the 5% significance level had an effect on FDI.
Abstrak. Penelitian ini bertujuan untuk menguji pengaruh kontrol korupsi, keterbukaan pasar, produktivitas pekerja, kualitas regulasi dan upah minimum terhadap PMA di Indonesia. PMA memiliki pengaruh yang besar baik secara makro maupun mikro ekonomi suatu negara. Kontrol korupsi, keterbukaan pasar, produktivitas pekerja, kualitas regulasi dan upah minimum menjadi pertimbangan investor untuk mengalirkan dana ke suatu negara. Penelitian ini menggunakan metode kuantitatif dengan data sekunder. Penelitian mengamati variabel terkait pada periode 1997 hingga 2023 yang kemudian di olah menggunakan metode least square. Hasil penelitian menunjukkan bahwa kontrol korupsi dan upah minimum pada tingkat signifikansi 5% tidak berpengaruh terhadap PMA sedangkan keterbukaan pasar, produktivitas pekerja dan kualitas regulasi pada tingkat signifikansi 5% berpengaruh terhadap PMA.
References
Arfid Fathun Nadyan, & Dewi Rahmi. (2023). Pengaruh Pengetahuan, Religiositas, Persepsi, dan Media Informasi Terhadap Minat Investor Melakukan Wakaf Saham. Jurnal Riset Ilmu Ekonomi Dan Bisnis, 53–60. https://doi.org/10.29313/jrieb.v3i1.1926
Safitri, L., & Effendi, M. (2019). Analisis Pengaruh Pendidikan, Pertumbuhan Penduduk dan Investasi Terhadap Kemiskinan di Kalimantan Selatan (The Effect Analysis of Education, Population Growth, and Investment Towards Poverty in South Kalimantan). JIEP: Jurnal Ilmu Ekonomi Dan Pembangunan, 842–851.
Afrilita, Lisa Dewi, dan Dyah Titis Kusuma Wardani. 2019. “Analisis Penanaman Modal Asing di Indonesia Tahun 2007-2016: Pendekatan Model Gravitasi.” Journal of Economics Research and Social Sciences 3(1):48–55. doi: 10.18196/jerss.030106.
Alfaro, Laura, dan Jasmina Chauvin. 2017. “Foreign Direct Investment, Finance, and Economic Development.” International Economics and Global Trade 1–32.
Badan Pusat Statistik Indonesia. 2024. “Kependudukan dan Tenaga Kerja.” BPS. Diambil (https://www.bps.go.id/id).
Baskoro, Luhur Selo, Yonsuke Hara, dan Yoshihiro Otsuji. 2019. “Labor Productivity and Foreign Direct Investment in the Indonesian Manufacturing Sector.” Signifikan: Jurnal Ilmu Ekonomi 8(1):9–22. doi: 10.15408/sjie.v8i1.7836.
CNBC Indonesia Research. 2023. “ASEAN, Primadona Investasi Global.” CNBC Indonesia, Oktober 13.
Galeza, Tadeusz, dan James Chan. 2015. “What Is Direct Investment? Investors often seek profits from a long-term stake in a foreign operation.” Finance & Development 34–35. Diambil (https://www.elibrary.imf.org/view/journals/022/0052/003/article-A011-en.xml).
Haudi, Hadion Wijoyo, dan Yoyok Cahyono. 2020. “ANALYSIS OF MOST INFLUENTIAL FACTORS TO ATTRACT FOREIGN DIRECT INVESTMENT.” Journal of Critical Reviews 7(13):4128–35. doi: 10.31838/jcr.07.13.627.
Ozoguz, Arzu. 2024. “Up to Code: The Costs of Regulation and Regulatory Uncertainty.” KENAN INSTITUTE of Private Enterprise. Diambil (https://kenaninstitute.unc.edu/kenan-insight/up-to-code-the-costs-of-regulation-and-regulatory-uncertainty/).
Pahlevi, Reza. 2024. “Sulitnya Menggaet Investasi Apple dan Tesla di Indonesia.” Katadata, Mei 1.
Putra, Nandha Risky, dan Rosa Linda. 2022. “Korupsi di Indonesia: Tantangan perubahan sosial.” Integritas : Jurnal Antikorupsi 8(1):13–24. doi: 10.32697/integritas.v8i1.898.
Septiantoro, Ali Akbar, Heni Hasanah, Muhammad Findi Alexandi, dan Sri Retno Wahyu Nugraheni. 2020. “Apakah Kualitas Institusi Berpengaruh pada Arus Masuk FDI di ASEAN?” Jurnal Ekonomi dan Pembangunan Indonesia 20(2):197–211. doi: 10.21002/jepi.2020.12.
Shaari, Mohd Shahidan, Miguel Angel Esquivias, Abdul Rahim Ridzuan, Nor Fadzilah Zainal, dan Lilik Sugiharti. 2022. “The impacts of corruption and environmental degradation on foreign direct investment: new evidence from the ASEAN+3 countries.” Cogent Economics and Finance 10(1). doi: 10.1080/23322039.2022.2124734.
Sirait, Robby Alexander. 2020. “PENGARUH UPAH MINIMUM PROVINSI TERHADAP INVESTASI DI INDONESIA.” JURNAL BUDGET 5(2):121–36.
United Nations Conference on Trade and Development (UNCTAD). 2023. World Investment Report.
Wellhausen, Rachel L. 2021. “Foreign Direct Investment (FDI).” Hlm. 1–22 dalam The Oxford Handbook of International Political Economy. Oxford University Press.
Wilujeng, Rr. Savina Kanti, Olivia Tanaya, dan Putri Radjamin Irzameingindra. 2022. “Foreign Direct Investment dan Risiko Politik di ASEAN.” Owner: Riset & Jurnal Akuntansi 6(2):1610–20. doi: 10.33395/owner.v6i2.805.
