Apakah Kualitas Institusi Berpengaruh pada Arus Masuk FDI di ASEAN?

Does Quality of Institution Affect the FDI Inflows in ASEAN?

  • Ali Akbar Septiantoro Departemen Ilmu Ekonomi, Fakultas Ekonomi dan Manajemen, IPB University
  • Heni Hasanah Departemen Ilmu Ekonomi, Fakultas Ekonomi dan Manajemen, IPB University
  • Muhammad Findi Alexandi Departemen Ilmu Ekonomi, Fakultas Ekonomi dan Manajemen, IPB University
  • Sri Retno Wahyu Nugraheni Departemen Ilmu Ekonomi, Fakultas Ekonomi dan Manajemen, IPB University
Keywords: demokrasi dan kualitas institusi, variabel ekonomi, FDI, stabilitas politik, data panel

Abstract


This paper examines the impact of institutional quality (government effectiveness index, voice and accountability index, and political stability) and economic variables (Gross Domestic Product [GDP], inflation, trade openness, and gross fixed capital formation) on Foreign Direct Investment (FDI) inflows in ASEAN 2012–2016 by using panel data analysis. The obtained results indicate that economics variables have a greater impact on FDI than political stability indicator. Our findings also suggest that insignificant effect of democracy and institutional quality indicator on FDI caused by the high level of corruption in ASEAN which maybe has a crowding out effect to level of democracy and institutional quality. ----------------------------------- Tujuan dari penelitian ini adalah untuk mengetahui pengaruh kualitas institusi (indeks government effectiveness, indeks voice and accountability, indeks stabilitas politik) dan variabel ekonomi lain (Gross Domestic Product [GDP], inflasi, keterbukaan perdagangan, dan gross fixed capital formation) terhadap Foreign Direct Investment (FDI) pada negara ASEAN periode tahun 2012–2016 dengan menggunakan analisis panel data. Hasil estimasi menunjukkan bahwa variabel ekonomi memiliki pengaruh yang lebih besar terhadap FDI dibandingkan dengan indikator stabilitas politik. Hasil kajian ini juga menemukan bahwa tidak signifikannya pengaruh indikator demokrasi dan kualitas institusi terhadap FDI dikarenakan tingginya tingkat korupsi yang mungkin memiliki efek crowding out terhadap tingkat demokrasi dan kualitas institusi.

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Published
2020-05-30
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How to Cite
Septiantoro, A. A., Hasanah, H., Alexandi, M. F., & Nugraheni, S. R. W. (2020). 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.v20i2.1132
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