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All Journal Jurnal Tata Kelola dan Akuntabilitas Keuangan Negara Jejak: Jurnal Ekonomi dan Kebijakan
Setiyanto, Aris
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Economics, Econometrics & Finance Social Sciences

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Foreign Direct Investment and Economic Growth in Indonesia: Role of Human Capital and Trade Openness Setiyanto, Aris; Fitrady, Ardyanto
JEJAK Vol. 17 No. 1 (2024): March 2024
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v17i1.5581

Abstract

This study examines FDI – economic growth nexus in Indonesia throughout 1970 to 2019. It also focuses on analyzing whether FDI-human capital and FDI-trade openness complement each other to enhance economic growth. Employing the autoregressive distributed lag (ARDL) bound test and fully modified ordinary least square (FMOLS), the study find cointegrated relationship between FDI and economic growth. Specifically, the interaction between FDI and human capital is statistically non-significant to long-term growth. However, interestingly FDI and trade openness complement each other to encourage long-term growth. From the policy perspective, this study supports the improvement of the quality of human capital to enhance the benefits of a foreign presence in the economy and further reforms in the trade sector to enhance long-term growth in Indonesia.
Indonesia’s Capital Expenditure and Economic Growth 1990-2020: Role of Accountability Setiyanto, Aris
Jurnal Tata Kelola dan Akuntabilitas Keuangan Negara Vol. 7 No. 2 (2021): JTAKEN Vol. 7 No. 2 December 2021
Publisher : Badan Pemeriksa Keuangan Republik Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28986/jtaken.v7i2.653

Abstract

This study examines the empirical relationship between capital expenditures and economic growth. It examines whether capital expenditures and accountability complement each other to encourage Indonesia's economic growth throughout 1990-2020. Using the autoregressive distributed lag (ARDL) bounds test, this study finds a cointegrated relationship between capital expenditure and economic growth in Indonesia during this period. In particular, capital expenditures have a negative impact on long-term growth. However, it is interesting that government capital expenditure with accountability shows a positive and significant effect on long-term growth. This demonstrates the importance of government accountability in managing government capital expenditures. This study implies that the government needs to increase accountability for the capital expenditures that have been realized to provide optimal benefits for Indonesia's economy in the long term.    
Co-Authors Fitrady, Ardyanto