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Do foreign direct investment, trade and their interactions affect economic growth in Indonesia?

Jurnal Perspektif Pembiayaan dan Pembangunan Daerah · Vol. 11 No. 1 (2023) · hlm. 1–16

DOI
10.22437/ppd.v11i1.22698
ISSN
2355-8520, 2338-4603
Terbit
2023-04-30
Penerbit
Program Magister Ilmu Ekonomi Pascasarjana Universitas Jambi
Bahasa
en
Lisensi
creativecommons.org/licenses/by/4.0

Abstrak

This study examines the direct and indirect impacts of foreign direct investment, exports, and imports on Indonesia's long-term and short-term economic growth. To this end, we used quarterly data for 2005.1–2021.4 sourced from Statistics Indonesia, the Bank of Indonesia, and the Bank of St. Louis. The analytical tools employed were the autoregressive model of the lag distribution (ARDL) and the error correction model (ECM-ARDL). Findings showed that foreign direct investment, exports, and imports directly affected Indonesia's economic growth. However, while the two formers had an impact only in the short run, the latter also did so in the long run. In addition, foreign direct investment also indirectly influenced economic growth through exports in the short and long run, whereas this was not the case with imports. Based on these findings, we argue for policy recommendations. To begin with, the government should encourage foreign direct investment, which may gradually replace imported raw materials with local raw resources, thereby creating an upstream connection while slowing the rate of imports. Furthermore, the government needs to adopt a policy of downstream processing of primary commodities into industrial commodities to increase export value and expand employment opportunities.

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  • Politeknik Negeri Ujung Pandang
  • Universitas Jambi
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  • Organisasi berbeda
  • Organisasi sama
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Rekan penulisOrganisasiArtikel bersama
La Ode SuriadiAfiliasi tidak diketahui2
Zulfanetti ZulfanettiAfiliasi tidak diketahui2
Emilia EmiliaAfiliasi tidak diketahui2
Made MudanaAfiliasi tidak diketahui1
Tibertius NempungAfiliasi tidak diketahui1
Kustiana AyuAfiliasi tidak diketahui1
La Ode Muhammad HarafahAfiliasi tidak diketahui1
Baso SafaruddinAfiliasi tidak diketahui1
Marwan MarwanPoliteknik Negeri Ujung Pandang1
Ambo Wonua NusantaraAfiliasi tidak diketahui1
M. NatsirAfiliasi tidak diketahui1
Pasrun AdamAfiliasi tidak diketahui1
Zainuddin SaenongAfiliasi tidak diketahui1
Dwi Yusrianti YussamsuarAfiliasi tidak diketahui1
Aulia TasmanAfiliasi tidak diketahui1
Yanilia YaniliaAfiliasi tidak diketahui1
Etik UmiyatiAfiliasi tidak diketahui1
Jurnia MinatiAfiliasi tidak diketahui1
M. SyarifUniversitas Jambi1
Asrizal PaimanAfiliasi tidak diketahui1
Yulmardi YulmardiAfiliasi tidak diketahui1
Nursanti NursantiAfiliasi tidak diketahui1
Ade OctaviaAfiliasi tidak diketahui1
Yayuk SriayudhaAfiliasi tidak diketahui1
Suswita RozaAfiliasi tidak diketahui1
Yohanes Vyn AmzarAfiliasi tidak diketahui1
Iklima Raudatul JannahAfiliasi tidak diketahui1
Justia Lilia Sari PutriAfiliasi tidak diketahui1
Yelinda NoradithaAfiliasi tidak diketahui1
Winda Dwi LestariAfiliasi tidak diketahui1
Parmadi ParmadiAfiliasi tidak diketahui1
Rohmah AgustinaAfiliasi tidak diketahui1

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Sumber metadata: OAI-PMH (metadata jurnal) https://online-journal.unja.ac.id/index.php/JES/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
<oai_dc:dc xmlns="http://www.openarchives.org/OAI/2.0/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:oai_dc="http://www.openarchives.org/OAI/2.0/oai_dc/" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/  http://www.openarchives.org/OAI/2.0/oai_dc.xsd">
	<dc:title xml:lang="en">Do foreign direct investment, trade and their interactions affect economic growth in Indonesia?</dc:title>
	<dc:creator xml:lang="en">Millia, Heppi</dc:creator>
	<dc:creator xml:lang="en">Ernawati, Ernawati</dc:creator>
	<dc:creator xml:lang="en">Heriberta, Heriberta</dc:creator>
	<dc:subject xml:lang="en">ARDL model</dc:subject>
	<dc:subject xml:lang="en">Exports</dc:subject>
	<dc:subject xml:lang="en">Foreign direct investment</dc:subject>
	<dc:subject xml:lang="en">Imports</dc:subject>
	<dc:description xml:lang="en">This study examines the direct and indirect impacts of foreign direct investment, exports, and imports on Indonesia's long-term and short-term economic growth. To this end, we used quarterly data for 2005.1–2021.4 sourced from Statistics Indonesia, the Bank of Indonesia, and the Bank of St. Louis. The analytical tools employed were the autoregressive model of the lag distribution (ARDL) and the error correction model (ECM-ARDL). Findings showed that foreign direct investment, exports, and imports directly affected Indonesia's economic growth. However, while the two formers had an impact only in the short run, the latter also did so in the long run. In addition, foreign direct investment also indirectly influenced economic growth through exports in the short and long run, whereas this was not the case with imports. Based on these findings, we argue for policy recommendations. To begin with, the government should encourage foreign direct investment, which may gradually replace imported raw materials with local raw resources, thereby creating an upstream connection while slowing the rate of imports. Furthermore, the government needs to adopt a policy of downstream processing of primary commodities into industrial commodities to increase export value and expand employment opportunities.</dc:description>
	<dc:publisher xml:lang="en">Program Magister Ilmu Ekonomi  Pascasarjana Universitas Jambi</dc:publisher>
	<dc:date>2023-04-30</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://online-journal.unja.ac.id/JES/article/view/22698</dc:identifier>
	<dc:identifier>10.22437/ppd.v11i1.22698</dc:identifier>
	<dc:source xml:lang="en">Jurnal Perspektif Pembiayaan dan Pembangunan Daerah; Vol. 11 No. 1 (2023): Jurnal Perspektif Pembiayaan dan Pembangunan Daerah; 1 - 16</dc:source>
	<dc:source>2355-8520</dc:source>
	<dc:source>2338-4603</dc:source>
	<dc:language>en</dc:language>
	<dc:relation>https://online-journal.unja.ac.id/JES/article/view/22698/15499</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2023 Heppi Millia; Ernawati Ernawati, Heriberta Heriberta</dc:rights>
	<dc:rights xml:lang="en">https://creativecommons.org/licenses/by/4.0</dc:rights>
</oai_dc:dc>