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All Journal JEJAK Jurnal Riset Ilmu Ekonomi
Chendrawan, Tony Santika
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Economics, Econometrics & Finance

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GDP Growth and FDI Nexus in ASEAN-5 Countries: The Role of Macroeconomic Performances Anwar, Cep Jandi; Suhendra, Indra; Imansyah, Taufik; zahara, Vadilla Mutia; Chendrawan, Tony Santika
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 1 (2023): March 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i1.37247

Abstract

Numerous papers have examined the effect of national income on FDI using cross-country data, including in developing countries. However, few papers focus on one specific region, particularly in ASEAN developing countries.  This study analyzes the effect of GDP growth on FDI in ASEAN-5 countries from 2004 to 2019. Panel data regression with fixed effect estimation was performed to document the relationship between GDP growth and FDI. Using some macroeconomic control variables, the findings demonstrated that GDP growth has a positive and significant impact on the FDI.  Additionally, the effects of the currency rate, trade openness, and inflation on FDI are positive. Therefore, macroeconomic performances such as GDP growth, exchange rate, trade openness, and inflation are the main factors attracting FDI in ASEAN-5 countries.
The Effect of Financial Development on Foreign Direct Investment in ASEAN+4 Suci, Stannia Cahaya; Chendrawan, Tony Santika; Zahara, Vadilla Mutia
Jurnal Riset Ilmu Ekonomi Vol. 4 No. 3 (2024): Jurnal Riset Ilmu Ekonomi (JRIE) Edisi Desember 2024
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrie.v4i3.150

Abstract

Foreign direct investment (FDI) is an important input to the achievement of a country's goals such as economic growth and poverty. The study looks at the impact of financial development (FD) on foreign direct investment (FDI) in nine ASEAN member states along with China, India, Japan and South Korea in 2018-2022. The estimate method used is the GMM method (generalized method of moment). The study found that financial development positively and significantly influenced the flow of foreign direct investment. Trade openness, human development and price levels were also found to influence FDI while economic growth was found to have no significant impact. The findings in this study imply that a good financial system is essential to attract even higher FDI.
Co-Authors Anwar, Cep Jandi Didu, Saharuddin Imansyah, Taufik Indra Suhendra Mahdani, Mahdani Nuriman, Muhammad Alifian Rah Adi Fahmi Ginanjar Suci, Stannia Cahaya Zahara, Vadilla Mutia Zoraya Alfathin Rangkuti