Main Article Content
Abstract
This study aims to examine the factors that influence foreign direct investment in ASEAN members. The variables analyzed in this study are GDP, inflation rate, interest rate, infrastructure, life expectancy, and labor force. This study examines 7 ASEAN countries, comprising Indonesia, Malaysia, Cambodia, Myanmar, Lao FDR, the Philippines, and Vietnam. The research period is 2000-2019. The estimation method used is the panel data regression method. The best estimation is the fixed effect method. The results of this study indicate that GDP and labor force have a positive effect on foreign direct investment in ASEAN countries. Meanwhile, inflation, interest rates, infrastructure, and life expectancy have no effect on foreign direct investment in ASEAN. The implication of this study is that each country needs to improve the skills of its workforce so that it can attract more foreign direct investment in the ASEAN region.
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References
- Agustin, E. B., Muljaningsih, S., & Asmara, K. (2021). Analisis Faktor-Faktor yang mempengaruhi Foreign Direct Investment (FDI) di Singapura Tahun 2004-2109. Equilibrium, 10(2), 105–112.
- Aslam, F. N., & Rudatin, A. (2023). Analisis determinan aliran Foreign Direct Investment (FDI) di kawasan ASEAN. Jurnal Kebijakan Ekonomi Dan Keuangan, 1(2), 205–211. https://doi.org/10.20885/jkek.vol1.iss2.art7
- Aviantih, D. A. (2023). Analisis Faktor Faktor Yang Mempengaruhi Investasi Asing Langsung Di 5 Negara Asean Data Panel 2010-2021. Jurnal Ilmiah Wahana Pendidikan, 2023(15), 98–105. https://doi.org/10.5281/zenodo.8201763
- Barorah, F., Malik, N., & Arifin, Z. (2019). Analisis Investasi Asing Langsung (FDI) di Negara ASEAN 2000-2017. Jurnal Ilmu Ekonomi (JIE), 3(3), 397–409.
- Budiono, S., & Purba, J. T. (2023). Factors of foreign direct investment flows to Indonesia in the era of COVID-19 pandemic. Heliyon, 9(4). https://doi.org/10.1016/j.heliyon.2023.e15429
- Fernandez, M., Almaazmi, M. M., & Joseph, R. (2020). Foreign Direct Investment in Indonesia: An Analysis from Investors Perspective. International Journal of Economics and Financial Issues, 10(5), 102–112. https://doi.org/10.32479/ijefi.10330
- Handoko, B. Y., & Utomo, Y. P. (2024). Analisis Faktor-Faktor yang Mempengaruhi Foreign Direct Investment di Negara ASEAN Periode Tahun 2018-2022. Menara Ekonomi, 10(1), 22–30.
- Khafidzin, H. L. P. (2021). Determinants Foreign Direct Investment (FDI) Inflow in ASEAN-8. Media Trend, 16(1), 12–18. https://doi.org/10.21107/mediatrend.v16i1.7227
- Majidi, A. F., Hashembeigi, H., Afshar, P. A., & Hashembeigi, V. (2017). Determinant of FDI: Evidence from Organization of the Petroleum Exporting Countries (OPEC). Asian Economic and Financial Review, 7(3), 258–266. https://doi.org/10.18488/journal.aefr/2017.7.3/102.3.258.266
- Megasari, T., & Saleh, S. (2021). Determinant of FDI Inflows in OIC Countries. International Journal of Islamic Economics and Finance (IJIEF), 4(1), 31–50. https://doi.org/10.18196/ijief.v4i1.9473
- Merian, S., & Aimon, H. (2024). Analisis Determinan Investasi Asing Langsung (FDI) Kelompok Negara Middle Income di ASEAN. Media Riset Ekonomi Pembangunan (MedREP), 1(3), 477–484. https://medrep.ppj.unp.ac.id/index.php/MedREP/login
- Nairobi, N., & Amalia, N. (2022). Political Stability, Index Perception of Corruption and Direct Foreign Investment in Southeast Asia. E-Journal Ekonomi Dan Bisnis Unviversitas Udayana, 11(02), 187–196. https://ojs.unud.ac.id/index.php/EEB/
- Putri, A. T., & Karmini, N. L. (2024). Analisis Faktor-Faktor yang Mempengaruhi Investasi Asing Langsung di Empat Negara ASEAN. E-Journal Ekonomi Dan Bisnis Universitas Udayana, 13(11), 2358–2367. https://ojs.unud.ac.id/index.php/EEB/index
- Saefudin, S., & Marselina, M. (2022). Pengaruh Kerapuhan Negara, Keterbukaan Perdagangan dan Angkatan Kerja terhadap Masuknya Investasi Asing Langsung di 9 Negara ASEAN periode 2016-2020. KLASSEN, 2(2), 141–156.
- Sasana, H., & Fathoni, S. (2019). Determinant of Foreign Direct Investment Inflows in Asean Countries. JEJAK: Journal Fo Economics and Policy, 12(2), 253–266. https://doi.org/10.15294/jejak.v12i2.18785
- Shaari, M. S., Asbullah, M. H., Zainol Abidin, N., Karim, Z. A., & Nangle, B. (2023). Determinants of Foreign Direct Investment in ASEAN+3 Countries: The Role of Environmental Degradation. International Journal of Environmental Research and Public Health, 20(3). https://doi.org/10.3390/ijerph20031720
- Shara, Y., & Khoirudin, R. (2024). Analysis of Foreign Direct Investment in ASEAN-9 Countries: The Role of Economic Integration. Journal of Macroeconomics and Social Development, 1(3), 1–10. https://economics.pubmedia.id/index.php/jmsd
- Syamni, G., Ansari, R., Majid, M. S. A., Marzuki, M., & Akhyar, C. (2024). Determinants of Foreign Direct Investment in Indonesia: Do Presidential Regimes Matter? Signifikan: Jurnal Ilmu Ekonomi, 13(1), 1–22. https://doi.org/10.15408/sjie.v13i1.40690
- Syarkani, Y. (2021). Pengaruh Market Size, Keterbukaan Pasa dan Inflasi terhadap Investasi Asing Langsung/Foreign Direct Investment (FDI) di Negara-Negara ASEAN. Jurnal Ilmiah MEA (Manajemen, Ekonomi Dan Akuntansi), 5(3), 2827–2843.
- Widarjono, A., Alam, Md. M., Atmadji, E., Suseno, P., & Artiani, L. E. (2023). The asymmetric exchange rate pass-through to inflation in the selected ASEAN countries. Bulletin of Monetary Economics and Banking, 26(1), 105–124. https://doi.org/https://doi.org/10.59091/1410-8046.2047
- Yasin, M. Z., Esquivias, M. A., Lau, W. Y., & Primanthi, M. R. (2024). Friend or Foe? Revealing R&D spillovers from FDI in Indonesia. Journal of Open Innovation: Technology, Market, and Complexity, 10(1). https://doi.org/10.1016/j.joitmc.2024.100209
References
Agustin, E. B., Muljaningsih, S., & Asmara, K. (2021). Analisis Faktor-Faktor yang mempengaruhi Foreign Direct Investment (FDI) di Singapura Tahun 2004-2109. Equilibrium, 10(2), 105–112.
Aslam, F. N., & Rudatin, A. (2023). Analisis determinan aliran Foreign Direct Investment (FDI) di kawasan ASEAN. Jurnal Kebijakan Ekonomi Dan Keuangan, 1(2), 205–211. https://doi.org/10.20885/jkek.vol1.iss2.art7
Aviantih, D. A. (2023). Analisis Faktor Faktor Yang Mempengaruhi Investasi Asing Langsung Di 5 Negara Asean Data Panel 2010-2021. Jurnal Ilmiah Wahana Pendidikan, 2023(15), 98–105. https://doi.org/10.5281/zenodo.8201763
Barorah, F., Malik, N., & Arifin, Z. (2019). Analisis Investasi Asing Langsung (FDI) di Negara ASEAN 2000-2017. Jurnal Ilmu Ekonomi (JIE), 3(3), 397–409.
Budiono, S., & Purba, J. T. (2023). Factors of foreign direct investment flows to Indonesia in the era of COVID-19 pandemic. Heliyon, 9(4). https://doi.org/10.1016/j.heliyon.2023.e15429
Fernandez, M., Almaazmi, M. M., & Joseph, R. (2020). Foreign Direct Investment in Indonesia: An Analysis from Investors Perspective. International Journal of Economics and Financial Issues, 10(5), 102–112. https://doi.org/10.32479/ijefi.10330
Handoko, B. Y., & Utomo, Y. P. (2024). Analisis Faktor-Faktor yang Mempengaruhi Foreign Direct Investment di Negara ASEAN Periode Tahun 2018-2022. Menara Ekonomi, 10(1), 22–30.
Khafidzin, H. L. P. (2021). Determinants Foreign Direct Investment (FDI) Inflow in ASEAN-8. Media Trend, 16(1), 12–18. https://doi.org/10.21107/mediatrend.v16i1.7227
Majidi, A. F., Hashembeigi, H., Afshar, P. A., & Hashembeigi, V. (2017). Determinant of FDI: Evidence from Organization of the Petroleum Exporting Countries (OPEC). Asian Economic and Financial Review, 7(3), 258–266. https://doi.org/10.18488/journal.aefr/2017.7.3/102.3.258.266
Megasari, T., & Saleh, S. (2021). Determinant of FDI Inflows in OIC Countries. International Journal of Islamic Economics and Finance (IJIEF), 4(1), 31–50. https://doi.org/10.18196/ijief.v4i1.9473
Merian, S., & Aimon, H. (2024). Analisis Determinan Investasi Asing Langsung (FDI) Kelompok Negara Middle Income di ASEAN. Media Riset Ekonomi Pembangunan (MedREP), 1(3), 477–484. https://medrep.ppj.unp.ac.id/index.php/MedREP/login
Nairobi, N., & Amalia, N. (2022). Political Stability, Index Perception of Corruption and Direct Foreign Investment in Southeast Asia. E-Journal Ekonomi Dan Bisnis Unviversitas Udayana, 11(02), 187–196. https://ojs.unud.ac.id/index.php/EEB/
Putri, A. T., & Karmini, N. L. (2024). Analisis Faktor-Faktor yang Mempengaruhi Investasi Asing Langsung di Empat Negara ASEAN. E-Journal Ekonomi Dan Bisnis Universitas Udayana, 13(11), 2358–2367. https://ojs.unud.ac.id/index.php/EEB/index
Saefudin, S., & Marselina, M. (2022). Pengaruh Kerapuhan Negara, Keterbukaan Perdagangan dan Angkatan Kerja terhadap Masuknya Investasi Asing Langsung di 9 Negara ASEAN periode 2016-2020. KLASSEN, 2(2), 141–156.
Sasana, H., & Fathoni, S. (2019). Determinant of Foreign Direct Investment Inflows in Asean Countries. JEJAK: Journal Fo Economics and Policy, 12(2), 253–266. https://doi.org/10.15294/jejak.v12i2.18785
Shaari, M. S., Asbullah, M. H., Zainol Abidin, N., Karim, Z. A., & Nangle, B. (2023). Determinants of Foreign Direct Investment in ASEAN+3 Countries: The Role of Environmental Degradation. International Journal of Environmental Research and Public Health, 20(3). https://doi.org/10.3390/ijerph20031720
Shara, Y., & Khoirudin, R. (2024). Analysis of Foreign Direct Investment in ASEAN-9 Countries: The Role of Economic Integration. Journal of Macroeconomics and Social Development, 1(3), 1–10. https://economics.pubmedia.id/index.php/jmsd
Syamni, G., Ansari, R., Majid, M. S. A., Marzuki, M., & Akhyar, C. (2024). Determinants of Foreign Direct Investment in Indonesia: Do Presidential Regimes Matter? Signifikan: Jurnal Ilmu Ekonomi, 13(1), 1–22. https://doi.org/10.15408/sjie.v13i1.40690
Syarkani, Y. (2021). Pengaruh Market Size, Keterbukaan Pasa dan Inflasi terhadap Investasi Asing Langsung/Foreign Direct Investment (FDI) di Negara-Negara ASEAN. Jurnal Ilmiah MEA (Manajemen, Ekonomi Dan Akuntansi), 5(3), 2827–2843.
Widarjono, A., Alam, Md. M., Atmadji, E., Suseno, P., & Artiani, L. E. (2023). The asymmetric exchange rate pass-through to inflation in the selected ASEAN countries. Bulletin of Monetary Economics and Banking, 26(1), 105–124. https://doi.org/https://doi.org/10.59091/1410-8046.2047
Yasin, M. Z., Esquivias, M. A., Lau, W. Y., & Primanthi, M. R. (2024). Friend or Foe? Revealing R&D spillovers from FDI in Indonesia. Journal of Open Innovation: Technology, Market, and Complexity, 10(1). https://doi.org/10.1016/j.joitmc.2024.100209