FOREIGN AND PRIVATE DOMESTIC INVESTMENTS IN INDONESIA: CROWDING-IN OR CROWDING-OUT?

Q2 Economics, Econometrics and Finance
A. Setiyanto
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引用次数: 1

Abstract

This study aims to investigate the empirical relationship between Foreign Direct Investment (FDI) to Private Domestic Investment (PDI) in Indonesia by using quarterly data from 1990Q2 to 2020Q2. It tests the crowding-in effect (which suggests complementarity between FDI and PDI) and crowding out effect (which indicates asubstitution effect between FDI and PDI) at the sectoral level. Our results imply the prevalence of the crowding-in effect in the primary and secondary sectors, with the tertiary sector exhibiting a neutral relationship. No rational reason was observed for the restriction of foreign investment. Therefore, it is suggested that Indonesia’s government needs to actively engage in FDI to increase the growth of new investments in the primary and secondary sectors of the domestic economy.
印尼国内外投资:众筹还是众筹?
本研究旨在利用1990年第二季度至2020年第二季的季度数据,调查印度尼西亚外国直接投资(FDI)与国内私人投资(PDI)之间的实证关系。它检验了部门层面的挤入效应(表明外国直接投资和PDI之间的互补性)和挤出效应(表明外商直接投资和PDS之间的替代效应)。我们的研究结果表明,拥挤效应在第一和第二部门普遍存在,第三部门表现出中性关系。没有发现限制外国投资的合理理由。因此,建议印度尼西亚政府积极参与外国直接投资,以增加国内经济第一和第二部门的新投资增长。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
Buletin Ekonomi Moneter dan Perbankan
Buletin Ekonomi Moneter dan Perbankan Economics, Econometrics and Finance-Finance
CiteScore
2.20
自引率
0.00%
发文量
1
审稿时长
5 weeks
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