Analysis of Factors Influencing Foreign Direct Investment Entry in G-20 Member Countries: Empirical Study of Developing and Developed Countries 2015-2019

Ni Putu Intan Febriani Dewi(1), Ni Putu Wiwin Setyari(2),


(1) Universitas Udayana
(2) Universitas Udayana
Corresponding Author

Abstract


Foreign Direct Investment (FDI) is an important element in the global economic system that plays a significant role in strengthening the foundations of a country's economic growth. However, based on data on FDI flows between the G-20 countries, there is an imbalance that requires further study. The study aims to analyze the impact of GDP, EODB Scores, real interest rates and country classifications both simultaneously and partially on FDI in G-20 member states in 2015-2019. The method of analysis used in this study was double linear regression with an GLS model as well as inserting one dummy variable with STATA software version 14. The results showed that simultaneously variables of GDP, EODB Scores, Real Interest Rates and Country Classifications have a significant influence on G20 member countries' Foreign Direct Investment. Meanwhile, partially GDP has a positive and significant influency on FDI while EODb Scores and Real Interests and Country Classes have a positive but non-significant influence over FDI.


Keywords


FDI, GDP, EODB Score, Real Interest Rates, Country Classification

References


Agustin, E. B., Muljaningsih, S., & Asmara, K. (2021). Analisis Faktor-Faktor yang Mempengaruhi Foreign Direct Investment (FDI) di Singapura Tahun 2004-2019. Equilibrium: Jurnal Ilmiah Ekonomi, Manajemen Dan Akuntansi, 10(2).

Agustin, E. B., Muljaningsih, S., Asmara, K., Studi, P., Pembangunan, E., Ekonomi, F., & Bisnis, D. (n.d.). Analisis Faktor-faktor yang Mempengaruhi Foreign Direct Investment (FDI) di Singapura Tahun 2004-2019.

Anwar, C. J., Kuswantoro, & Dewi, S. F. (2016). Faktor-Faktor Yang Mempengaruhi Foreign Direct Investment (FDI) Di Kawasan Asia Tenggara. Media Trend, 11(2), 175–194.

Astuty, F., & Siregar, I. N. P. (2018). Analisis Produk Domestik Bruto, Infrastruktur, Nilai Tukar Dan Tingkat Suku Bunga Terhadap Investasi Asing Langsung Di Indonesia. Jurnal Konsep Bisnis Dan Manajemen, 5(1), 91–105. http://ojs.uma.ac.id/index.php/bisman

Denisia, V. (2010). Foreign Direct Investment Theories: An Overview of the Main FDI Theories. European Journal of Interdisciplinary Studies, 2(2), 104–110.

Dunning JH. (1988). The eclectic paradigm of international production: a restatement and some possible extensions. J Int Bus Stud 19(1):1–31

Dunning, John H. (1993). Multinational Enterprises and the Global Economy, England: AddisonWesley

Dunning, John. H. (1981), International Productions and Multinationl Enterprise, Geore Allen, London, Gerge and Unwin.

Emmanuel, B., Ike, E. C., & Alhasan, Y. (2019). Effect of Exchange and Interest Rates on Foreign Direct Investment in Nigeria 2006-2018. International Journal of Contemporary Research and Review, 10(07), 21572–21585. https://doi.org/10.15520/ijcrr.v10i07.717

Fachrulloh, E. N., & Mawardi, M. K. (2018). Analisis Determinan Foreign Direct Investment di Negara Emerging Market Asia Periode 2011-2015. Jurnal Administrasi Bisnis (JAB)|Vol, 57(2), 160–169.

Femina S, M. K., & Patil, A. (n.d.). Impact Of Ease Of Doing Business On FDI Inflows Across Different Economies. http://ymerdigital.com

Fitriyah, F., Rahmawati, F., & Narmaditya, B. S. (2021). Macroeconomic Indicators and Foreign Direct Investment in Indonesia. Jurnal Ekonomi Bisnis Dan Kewirausahaan, 10(1), 91. https://doi.org/10.26418/jebik.v10i1.44272

Gujarati, D. N., & Porter, C. D. (2013). Single-equation regression models. In Introductory Econometrics: A Practical Approach (Fifth). The McGraw-Hill Series Economics.

Gujarati, D.N., 2004, Basic Econometric, Mc Graw Hill, New York.

Hafilah, E. N., & Ahmad, M. (2022). The Effect of Ease of Doing Business, Market Size and Political Stability on Foreign Direct Investment in Southeast Asia. Journal of Curriculum Indonesia, 5(1), 54–62.

Hosseini, H. (1994). Foreign Direct Investment Decision, Transaction‐Cost Economics and Political Uncertainty. Humanomics, 10(1), 61–82. https://doi.org/10.1108/eb018745.

Iswati, Helmi, Rahmat Syahni, dan Maiyastri, 2014, Perbandingan Penduga Ordinary Least Square (OLS) dan Generalized Least Square (GLS) Pada Model Regresi Linier dengan Regresor Bersifat Stokastik dan Galat Model Berautokeralas, Jurnal Matematika UNAND Vol.3 No.4 Hal.168-176. Maharani, I. A. E., & Setyowati, E. (2024). Analisis Determinan Foreign Direct Investment di ASEAN-6. Jurnal Informatika Ekonomi Bisnis, 177–183. https://doi.org/10.37034/infeb.v6i1.830

Martua, A., Ginting, I. T., Sayuti, & Mulyana. (2023). The Effect of Ease of Doing Business Indicators on Investment Interest. Monas: Jurnal Inovasi Aparatur, 5(2), 108–121.

Martua, A., Tia Ginting, I., Pemerintahan Dalam Negeri Jl Ir Soekarno Km, I., Barat, J., & Abstrak, ipdnacid. (2023). Pengaruh Indikator Ease of Doing Business terhadap Minat Investasi: Bukti Empiris di Provinsi DKI Jakarta The Effect of Ease of Doing Business Indicators on Investment Interest: Empirical Evidence in DKI Jakarta Province. Jurnal Inovasi Aparatur, 5(2).

Millati, N., & Zulfa, F. N. (2023). Analisis Pengaruh Produk Domestik Bruto (PDB), Nilai Tukar, dan Suku Bunga terhadap Foreign Direct Investment (FDI) di Indonesia Periode Tahun 2015Q1–2022Q4. Jurnal Ilmiah Wahana Pendidikan, 9(16), 233–249.

Moa Kopa, M. C., & Widanta, A. A. B. P. (2022). Pengaruh Tingkat PDRB, Upah Tenaga Kerja, dan Political Risk Terhadap FDI di Provinsi Bali. E-Jurnal Ekonomi Dan Bisnis Universitas Udayana, 11(07), 761. https://doi.org/10.24843/EEB.2022.v11.i07.p01

Ningsih, D. S., Haryadi, & Hodijah, S. (2020). Pengaruh penanaman modal dalam negeri (PMDN), penanaman modal asing (PMA), ekspor dan impor terhadap pertumbuhan ekonomi Provinsi Jambi. Jurnal Paradigma Ekonomika, 15(2), 2085–1960.

Ningsih, K. C. (2019). Pengaruh GDP Perkapita, Nilai Tukar dan Kestabilan Politik Terhadap Investasi Asing Langsung (Foreign Direct Investment) Periode 2008-2017. Universitas Islam Negeri.

OECD, F. D. I. (2016). FDI IN FIGURES.

Purwanto, N. P., & Mangeswuri, D. R. (2011). Pengaruh Investasi Asing dan Hutang Luar Negeri Terhadap Pertumbuhan Ekonomi Indonesia. Jurnal Ekonomi & Kebijakan Publik, 2, 681–706.

Rahayu, T. (2010). Analisis faktor-faktor yang mempengaruhi penanaman modal asing di Indonesia (tahun 1994: 1-2008: 4).

Sari, G. A. A. R. M., & Baskara, I. G. K. (2018). Pengaruh Pertumbuhan Ekonomi, Suku Bunga, dan Nilai Tukar Terhadap Investasi Asing Langsung di Indonesia. E-Jurnal Manajemen Unud, 7(7), 4002–4030. https://doi.org/10.24843/EJMUNUD.2018.v7.i07.p20

Sarwedi. (2002). Investasi Asing langsung di Indonesia dan Faktor yang Mempengaruhinya. Akuntansi & Keuangan, 4(1), 17–35. http://puslit.petra.ac.id/journals/accounting/

Septiantoro, A. A., Hasanah, H., Alexandi, M. F., & Nugraheni, S. R. (2020a). Apakah Kualitas Institusi Berpengaruh Pada Arus Masuk FDI Di ASEAN? Jurnal Ekonomi Dan Pembangunan Indonesia, 20(2), 5.

Septiantoro, A. A., Hasanah, H., Alexandi, M. F., & Nugraheni, S. R. W. (2020b). Apakah Kualitas Institusi Berpengaruh pada Arus Masuk FDI di ASEAN? Jurnal Ekonomi Dan Pembangunan Indonesia, 20(2), 197–211. https://doi.org/10.21002/jepi.2020.12

Setyarini, A. (2019). Analisis Pengaruh CAR, NPL, NIM, BOPO, LDR Terhadap ROA (Studi Pada Bank Pembangunan Daerah Di Indonesia Periode 2015-2018). 4(1), 282–290.


Full Text: PDF

Article Metrics

Abstract View : 48 times
PDF Download : 54 times

DOI: 10.57235/aurelia.v4i1.3855

Refbacks

  • There are currently no refbacks.


Copyright (c) 2024 Ni Putu Intan Febriani Dewi, Ni Putu Wiwin Setyari

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.