Penentu Foreign Direct Investment di Provinsi Kalimantan

Candy Candy, Verren Calystania

Abstract


In recent years, FDI receipts in Indonesia have increased quite rapidly. However, the distribution of FDI in all provinces in Indonesia still needs to be balanced. Kalimantan is one of the islands with the smallest FDI receipts in Indonesia. This research investigates the determinants of FDI in West Kalimantan, Central Kalimantan, South Kalimantan, East Kalimantan, and North Kalimantan provinces. A quantitative approach and multiple linear regression analysis methods are applied in this study with six independent variables on FDI in Kalimantan Island from 2010 to 2020. The results show that market size, labor force, and labor costs positively and significantly affect FDI. In contrast, infrastructure, economic openness, and inflation significantly negatively impact FDI. These findings can assist local governments in formulating strategies to draw more FDI to the Kalimantan region to increase economic growth, social, infrastructure, and other benefits.

Keywords


Foreign Direct Investment, Indonesia, Kalimantan, Macroeconomics

Full Text:

PDF

References


Awad, A. (2020). Foreign direct investment inflows to Malaysia: Do macroeconomic policies matter? Journal of International Studies, 13(1), 196–211. https://doi.org/10.14254/2071-8330.2020/13-1/13

Chandra, T. A., & Handoyo, R. D. (2022). Determinants of Foreign Direct Investment in 31 Asian Countries for the 2002-2017 Period. Contemporary Economics, 4, 566–581. https://doi.org/10.5709/ce.1897-9254.428

Chandrarin, G. (2018). Metode Riset Akuntansi Pendekatan Kuantitatif (Vol. 2). Salemba Empat.

Dewi, C. S., & Hutomo, F. O. (2021). Determinants of Foreign Direct Investment in Indonesia. Conference Series, 3(2), 499–510. https://doi.org/10.34306/conferenceseries.v3i2.616

Duli, N. (2019). Metogologi Penelitian Kuantitatif. Deepublish.

Fetahi-Vehapi, M., Maksuti, A., & Mustafi, H. (2021). Macroeconomic Determinants of Foreign Direct Investment in North Macedonia- Empirical Analysis. Economic Vision, 8(15).

Fu, Y., Supriyadi, A., & Wang, T. (2018). China’s outward FDI in Indonesia: Spatial patterns and determinants. Sustainability (Switzerland), 10(12). https://doi.org/10.3390/su10124632

Hintošová, A. B., Bruothová, M., Kubíková, Z., & Ručinský, R. (2018). Determinants of foreign direct investment inflows: A case of the Visegrad countries. Journal of International Studies, 11(2), 222–235. https://doi.org/10.14254/2071

Hlavacek, P., & Bal-Domanska, B. (2016). Impact of foreign direct investment on economic growth in central and eastern European countries. Engineering Economics, 27(3), 294–303. https://doi.org/10.5755/j01.ee.27.3.3914

Hoa, P. T., Thu, H. N. T., & Duc, D. N. (2021). Factors affecting the attraction of foreign direct investment: A study in northwest of Vietnam. Accounting, 7(6), 1257–1264. https://doi.org/10.5267/j.ac.2021.4.014

Hoang, H. H., & Goujon, M. (2014). Determinants of foreign direct investment in Vietnamese provinces: a spatial econometric analysis. Post-Communist Economies, 26(1), 103–121. https://doi.org/10.1080/14631377.2014.874658

Hoang, H. H., Huynh, C. M., Duong, N. M. H., & Chau, N. H. (2021). Determinants of foreign direct investment in Southern Central Coast of Vietnam: a spatial econometric analysis. Economic Change and Restructuring, 55(1), 285–310. https://doi.org/10.1007/s10644-020-09315-3

Ibrahim, H. S., Garba, E.-M. J., Muhammad, M., Kakanda, M. M., & Shehu, A. (2022). Impact of Tax Incentives on Foreign Direct Investment Flow in Nigeria. Path of Science, 8(1), 3001–3009. https://doi.org/10.22178/pos.78-5

Kariuki, C. (2015). The Determinants of Foreign Direct Investment in the African Union. Journal of Economics, Business and Management, 3(3), 346–351. https://doi.org/10.7763/joebm.2015.v3.207

Korsah, E., Amanamah, R. B., & Gyimah, P. (2022). Drivers of foreign direct investment: new evidence from West African regions. Journal of Business and Socio-Economic Development. https://doi.org/10.1108/jbsed-12-2021-0173

Kumari, R., & Sharma, A. K. (2017). Determinants of foreign direct investment in developing countries: a panel data study. International Journal of Emerging Markets, 12(4), 658–682. https://doi.org/10.1108/IJoEM-10-2014-0169

Le, B., Ngo, T. T. T., Nguyen, N. T., & Nguyen, D. T. (2021). The Relationship between Foreign Direct Investment and Local Economic Growth: A Case Study of Binh Dinh Province, Vietnam*. Journal of Asian Finance, Economics and Business, 8(4), 33–42. https://doi.org/10.13106/jafeb.2021.vol8.no4.0033

Legese, H. (2018). Determinants of foreign direct investment in Ethiopia: Systematic review. International Journal of Business and Economic Development, 6. www.ijbed.org

Meivitawanli, B. (2021). Determinants of Foreign Direct Investment: Evidence from Provincial Level Data in Indonesia. Journal of Asian Finance, 8(5), 53–0060. https://doi.org/10.13106/jafeb.2021.vol8.no5.0053

Mudiyanselage, M. M. R., Epuran, G., & Tescașiu, B. (2021). Causal Links between Trade Openness and Foreign Direct Investment in Romania. Journal of Risk and Financial Management, 14(3), 90. https://doi.org/10.3390/jrfm14030090

Ngo, M. N., Cao, H. H., Nguyen, L. N., & Nguyen, T. N. (2020). Determinants of foreign direct investment: Evidence from Vietnam. Journal of Asian Finance, Economics and Business, 7(6), 173–183. https://doi.org/10.13106/JAFEB.2020.VOL7.NO6.173

Nguyen, C. H. (2021). Labor Force and Foreign Direct Investment: Empirical Evidence from Vietnam. Journal of Asian Finance, Economics and Business, 8(1), 103–112. https://doi.org/10.13106/jafeb.2021.vol8.no1.103

Nguyen, H. H. (2020). Impact of foreign direct investment and international trade on economic growth: Empirical Study in Vietnam. Journal of Asian Finance, Economics and Business, 7(3), 323–331. https://doi.org/10.13106/jafeb.2020.vol7.no3.323

Priadana, M. S., & Sunarsi, D. (2021). Metode Penelitian Kuantitatif. Pascal Books.

Purba, E., Purba, B., Syafii, A., Khairad, F., Damanik, D., Siagian, V., Ginting, A. M., Silitonga, H. P., Fitrianna, N., SN, A., & Ernanda, R. (2021). Metode Penelitian Ekonomi (R. Watrianthos, Ed.). Yayasan Kita Menulis.

Undang-Undang Republik Indonesia Nomor 11 Tahun 2020 Tentang Cipta Kerja, Pub. L. No. 11 (2020). https://peraturan.bpk.go.id/Details/149750/uu-no-11-tahun-2020

Rexha, D. (2021). Low Labor Cost as a Determinant of Foreign Direct Investments in Albania, Kosovo and North Macedonia. Journal of Balkan Studies, 1(2). https://doi.org/10.51331/A015

Riyanto, S., & Hatmawan, A. A. (2020). Metode Riset Penelitian Kuantitatif Penelitian di Bidang Manajemen, Teknik, Pendidikan dan Eksperimen. Deepublish.

Saad, M., & Lukman, I. (2020). Determinants of The Inflow Foreign Direct Investment: Empirical Evidence from Pakistan. Pakistan Journal of Humanities & Social Sciences Research, 03.

Sahiti, A., Sahiti, A., & Zeqiri, R. (2020). The Determinants of Foreign Direct Investment: Empirical Evidence from Kosovo. Advances in Business-Related Scientific Research Journal, 11(1).

Sari, R., Marnisah, L., & Wijaya, H. (2022). Statistik Ekonomi (R. Rerung, Ed.). Media Sains Indonesia.

Sodik, J., Sarungu, J. J., Soesilo, A. M., & Aisyah, S. (2018). Spatial Dynamics and Determinants of Foreign Direct Investment in Indonesia: a Comparative Study of Pre and Post Autonomous Area, 1990-2014. Russian Journal of Agricultural and Socio-Economic Sciences, 81(9), 16–31. https://doi.org/10.18551/rjoas.2018-09.03

Sokang, K. (2018). The Impact of Foreign Direct Investment on the Economic Growth in Cambodia: Empirical Evidence. International Journal of Innovation and Economic Development, 4(5), 39–48. https://doi.org/10.18775/ijied.1849-7551-7020.2015.45.2004

Stéphane, M. N. (2020). The Impact of Infrastructure development on Foreign Direct Investment in Cameroon. HAL SHS. https://shs.hal.science/halshs-02446497

Sumardin, Mustaqim, H., & Mustika, I. (2023). Statistika Bisnis Aplikasi Software SPSS dan EVIEWS (R. Rerung, Ed.). Penerbit Media Sains Indonesia.

Toshevska-Trpchevska, K., Kikerkova, I., Disoska, E. M., & Naumovska, E. (2019). Analysis of the impact of economic factors upon the FDI inflow in SEE and CEE countries. Optimum Economic Studies, 4, 3–15. https://doi.org/10.15290/oes.2019.04.98.01

Tran, T. Q., Dang, T. A., & Tran, N. A. T. (2020). Factors affecting foreign direct investment: Evidence on Tay Ninh Province. Journal of Asian Finance, Economics and Business, 7(9), 263–269. https://doi.org/10.13106/JAFEB.2020.VOL7.NO9.263

Uyun, M., & Yoseanto, B. L. (2022). Seri Buku Psikologi: Pengantar Metode Penelitian Kuantitatif. Deepublish.

Wahyudin, Rismaningsih, F., Hernaeny, U., Fenty, E., Anggraeni, Astuti, F., Saka, B. G. M., Hendrayani, E., Oktavia, Y., Indrayana, I. P. T., Nusantari, D. O., Sudirman, Aziza, N., Setiawan, J., & Supriyanto. (2022). Pengantar Statistika 2. Media Sains Indonesia.

Yolanda, Y., Sumarni, S., & Kamil, M. (2022). Determinants of foreign direct investment in Southeast and South Asian countries. Accounting, 8(4), 409–418. https://doi.org/10.5267/j.ac.2022.6.001




DOI: https://doi.org/10.30596/ekonomikawan.v23i2.17213