Impact of FDI, COP, and Inflation to Export in Five ASEAN Countries
Nanda Adhi Purusa(1), Nurul Istiqomah(2*)(1) Departement of Economic Development, Faculty of Economic and Business Universitas Sebelas Maret, Surakarta, Indonesia
(2) Departement of Economic Development, Faculty of Economic and Business Universitas Sebelas Maret, Surakarta, Indonesia
(*) Corresponding Author
Abstract
The effects of foreign direct investment (FDI), crude oil price and inflation on the export are mainly examined in the case of Indonesia, Malaysia, Philippines, Thailand, and Vietnam by using data from 2000 to 2015. These countries have opportunity to increased prosperity in the ASEAN Economic Community (AEC). Therefore, increasing productivity and international trading are important for each country. This study employed panel data model in the analyses and the findings show that Fixed Effect Model with Generalized Least Square method is implemented. Hence, using this method is determined by likelihood test and Hausman test. The statistical tests in this study consist of partial coefficient test, stimulant, and coefficient of determination. The result shows that FDI and crude oil price have positive effect and significant on export, but inflation has negative effect and significant on export. Constant value shows that each country has the difference condition. Simple bureaucracy is needed to increased efficiency that will attract foreign investors to invest their fund and the discovery of alternative energy and new production technique can increase a country productivity significantly in producing goods or services for both domestic and export-oriented.
Keywords
Full Text:
PDFReferences
Baskaya, et al. 2013. ‘Oil Price Uncertainty in a Small Open Economy’. International Monetary Fund Economic Review 61 (1): 168-198.
Bheemul, B. Sooreea, and Rajeev Sooreea Dominican. 2012. ‘Mauritius as a Success Story for FDI’. Journal of International Business Research 11 (2): 119-144.
Dritsaki, Chaido, and Melina Dritsaki. 2012. ‘Export and FDI: A Granger Causality Analysis in a Heterogeneous Panel’. Economics Bulletin 32 (4): 3128-3139.
Ekmekcioglu, Ercan. 2012. ‘The Macroeconomic Effect of World Crude Oil Price Changes’. International Journal of Business and Social Science 3 (6): 268-272.
Groff, Stephen. 2015. ‘Overcoming Southeast Asia's Barriers to Trade: A Stronger Asean could Make The Changes The Region's Economic Community Needs’. Wall Street Journal Online. http://search.proquest.com/docview/1692052816?accountid=44945 accessed on 7 July 2016
Gujarati, Damodar N., and Dawn C Porter. 2010. ‘Dasar-dasar Ekonometrika’. Jilid I. Jakarta: Salemba Empat.
_____________________. 2012. ‘Dasar-dasar Ekonometrika’. Jilid II. Jakarta: Salemba Empat.
He, Shuquan. 2012. ‘Competition Among ASEAN Members in The East Asia Market’. Journal of Economic Studies 39 (5): 576-589.
Kabir, Shahriar, and Ruhul A Salim. 2014. ‘Regional Economic Integration in ASEAN’. Journal of Southeast Asian Economies 31 (2): 313-335.
Karsalari, Abbas. Rezazadeh., et al. 2013. ‘Export and FDI in Asian Countries: Panel Causality Analysis’. Hyperion Economic Journal 1 (2): 60-66.
Knowler, Greg. 2015. ‘Low Oil Price Means Greater Demand for China Exports, Bank Says’. Journal of Commerce. http://search.proquest.com/docview/1667377481?accountid=44945 accessed on 10 Juli 2016.
Krugman, Paul R., and Maurice Obstfeld. 1991. ‘Ekonomi Internasional: Teori dan Kebijakan’. Jilid I. Jakarta: Rajawali.
Lindert, Peter H., and Charles P Kindleberger. 1990. ‘Ekonomi Internasional’. Edisi Kedelapan. Jakarta: Erlangga.
Lutz, Stefan, and Oleksandr Talavera. 2004. ‘Do Ukrainian Firms Benefit from FDI?’. Economics of Planning 32 (2): 77-98.
Munandar, Aris. 2012. Analisis Faktor-faktor yang Mempengaruhi Ekspor Non-Migas Provinsi Jawa Tengah Tahun 1980-2010. Skripsi. Surakarta: Fakultas Ekonomi dan Bisnis, Universitas Sebelas Maret.
Nizar, Muhammad Afdi. 2012. ‘Dampak Fluktuasi Harga Minyak Dunia terhadap Perekonomian Indonesia’. Buletin Ilmiah Litbang Perdagangan 6 (2): 189-209. Jakarta: Pusat Kebijakan Ekonomi Makro, Badan Kebijakan Fiskal, Kementerian Keuangan Republik Indonesia.
Nopirin. 1995. ‘Ekonomi Internasional’. Edisi Ketiga. Yogyakarta: BPFE.
Pardede, Soy M. 2011. ‘Towards an Economic Community: In South East Asia’. International Trade Forum 4: 20-21.
Rady, et all. 2010. ‘Price Inflation and GDP Growth-What Matters Most? Evidence From Egypt and India’. Journal of Economics and Economic Education Research 11 (3): 61-69.
Safitriani, Suci. 2014. ‘Perdagangan Internasional dan Foreign Direct Investment di Indonesia’. Buletin Ilmiah Litbang Perdagangan 8 (1): 93-116. Jakarta: Badan Pusat Statistik.
Saher, Noor. 2011. ‘Impact of Oil Prices on Economic Growth and Exports Earning: In the Case of Pakistan and India’. The Romanian Economic Jornal 13 (40): 117-130.
Salvatore, Dominick. 2007. ‘Ekonomi Internasional’. Edisi Sembilan. Jakarta: Salemba Empat.
Soelistyo. 1983. ‘Ekonomi Internasional: Teori Perdagangan Internasional’. Jilid I. Yogyakarta: Liberty.
Sukirno, Sadono. 2000. ‘Makroekonomi Modern’. Edisi I. Jakarta: PT Raja Grafindo Persada.
Sumodiningrat, Gunawan. 2002. ‘Ekonometrika Pengantar’. Yogyakarta: BPFE.
Tayebi, Seyed Komail., and Mehdi Yazdani. 2014. ‘Financial Crisis, Oil Shock and Trade in Asia’. Journal of Economic Studies 41 (4): 601-614.
Article Metrics
Abstract view(s): 2598 time(s)PDF: 1834 time(s)
Refbacks
- There are currently no refbacks.