ANALYSIS OF THE INFLUENCE OF GOVERNMENT INVESTMENT, GROSS DOMESTIC PRODUCT, REAL INTEREST RATES, AND THE GOVERNMENT'S POLICY OF INVESTMENT TO PRIVATE INVESTMENT REALIZATION IN INDONESIA FROM 1972 TO 2005

Authors

  • Vissia Dewi Haptari Pusat Pendidikan dan Pelatihan Pajak

DOI:

https://doi.org/10.31092/jia.v4i4.52

Keywords:

investment, government investment, private investment

Abstract

This study tests the joint effects of Government Investment, Gross Domestic Product (GDP), Real Interest Rates, and Government's Policy on realization of private investment in Indonesia from 1972 until 2005. Government investment, the level of GDP and real interest rate directly have causality relationship with private investment, meaning every change in government investment, the level of GDP and real interest rate will cause positive change to private investment. On the other hand, the level of real interest rate does not have significant effect on investment, meaning the level of interest rate is not the only main cause, there are some other factors such as: inefficient institution condition which can be seen from complexity of rules, legal compliance system, and political stability.

References

Bank Indonesia, Statistik Ekonomi Keuangan Indonesia,various edition, Jakarta

Departemen Keuangan Indonesia RI, Nota Keuangan dan Rancangan Anggaran Pendapatan dan Belanja Negara,various edition, Jakarta

Dornbusch, et al. 2001, Macroeconomics, translated Wibisono, Yusuf (2001) Teori Makro Ekonomi , 8th. Ed., Publisher Media Global Edukasi.

Gujarati, Damodar N. 2003. Basic Econometric, 4th . Ed. New York : Mc. Graw Hill International Edition.

Gordon, Robert J. 1978. “Macroeconomicsâ€. By Little Brown and Company, Canada.

Herderschee, H. 1993, Incentive for Exports: The Case of Thailandâ€, ASEAN Economic Bulletin, 9, hal 48-363.

ISEI 2006, “Rekomendasi Kebijakan Pemerintah. Langkah-langkah Strategis Pemulihan Ekonomi Indonesiaâ€. Jakarta: Ikatan Sarjana Ekonomi Indonesia.

Kojima, R 1992, “The Growing Fiscal Authority of Provincial – Level Government in Chinaâ€, The Developing Economics, 30, hal 315 – 326

Lukman, Rizal Affandi, 2006, lecture notes Seminar Kebijakan Ekonomi dan Industri Indonesia.

Lembaga Penelitian Ekonomi IBII, 2004, Makro Ekonomi Indonesia, PT Gramedia Pustaka Utama, Jakarta.

Mankiw, Gregory N., 2000, Macroeconomics, Tranlated Nurmawan, Imam (2000) Teori Makro Ekonomi, 4 . Ed., Publisher Erlangga.

Maryatmo, R. 2004, “Dampak Moneter Kebijakan Defisit Anggaran Pemerintah dan Peranan Asa Nalar dalam Simulasi Model Makro-Ekonomi Indonesia (1983-2002:4) “Buletin Ekonomi Moneter dan Perbankan, page 297.

Nachrowi, Djalal, Nacrowi dan Usman, Hardius Usman , 2005, Penggunaan Teknik Ekonometri, revised edition, Publisher Raja Grafindo Persada.

Nugroho, Sulaiman Adi (2005), Analisis Investasi Di Indonesia serta Faktor-faktor

Ekonomi yang mempengaruhi, tahun 1979-2003, Yogyakarta, Sekolah Tinggi Ilmu Ekonomi.

Nuryanto, Wahyu, 2005, “The Effect of Government Expenditure and Tax Policy on Economic Growth,†Jurnal Keuangan Publik, 3.(2). 45-55

Putong, Iskandar, 2007,â€Economics, Pengantar Mikro dan Makro, latest edition, Publisher Mitra Wacana Media, Jakarta.

Sukirno, Sadono 2004, Makro Ekonomi Teori Pengantar, Raja Grafindo Perkasa, Jakarta.

Supancana, Ida Bagus Rahmadi, 2006, Kerangka Hukum Kebijakan Investasi Langsung di Indonesia, Bogor: Ghalia, Indonesia.

Tang, S.S.C. 1993, “The Legislative Framework for Direct Foreign Investment in ASEANâ€, ASEAN Economic Bulletin, 10 page 155-165.

Todaro, Michael. 1994, Economic Development, Longman. Terjemahan. Munandar Haris Lembaga Penelitian Ekonomi IBII, 2004, Makro (2000), Pembangunan Ekonomi, 5th . Ed. Publisher Bumi Aksara, Jakarta.

UNCTAD 2004, World Investment Report 2004, New York & Geneva: UN

WEF 2004, The Global Competitivesness Report 2004-2005, Geneva: World Economic Forum

WEF 2005, The Global Competitivesness Report 2005-2006, Geneva: World Economic Forum

Widarjono, Agus, 2005, Ekonometrika Teori dan Aplikasi, untuk Ekonomi dan Bisnis, Ekonisia, Yogyakarta.

Widjaya, I.G. Rai,, 2005, Penanaman Modal, Pedoman Prosedur Mendirikan dan Menjalankan Perusahaan dalam Rangka PMA dan PMDN, Jakarta: Pradnya Paramita.

Widodo, Suseno Triyanto, 1990, Indikator Ekonomi, Penerbit Kanisius, Yogyakarta.

World Bank 2004, Executive Summary, “A Raising of Investment in Indonesia, World Bank, Jakarta

World Bank 2005, Iklim Investasi yang Lebih Baik bagi Setiap Orang , Laporan Pembangunan Dunia 2005, The World Bank, Jakarta: Publisher Salemba Empat.

World Bank, Brief for The Consultative Group on Indonesia, 2006, Investing for Growth and Recovery, World Bank, Jakarta.

World Bank, 2006, Doing Business 2007, How to Reform, Comparing Regulation in 175 Economies, World Bank, Jakarta

World Bank, 2007, Doing Business 2008, How to Reform, Comparing Regulation in 178 Economies, World Bank, Jakarta

Keputusan Presiden Nomor 29 tahun 2004 tentang Penyelenggaraan Penanaman Modal Dalam Rangka Penanaman Modal Asing dan Penanaman Dalam Negeri Melalui Satu Atap.

Paket Kebijakan 23 Oktober 1993, tentang Kebijakan Deregulasi di Bidang Ekspor Impor, Tarif dan Tata Niaga Impor, Penanaman Modal, Perijinan, Farmasi, dan Amdal.

Instruksi Presiden, Nomor 3 tahun 2006, tentang Paket Kebijakan Perbaikan Iklim Investasi.

Instruksi Presiden, Nomor 6 Tahun 2007 tentang Kebijakan Percepatan Pengembangan Sektor Riil dan Pemberdayaan Usaha Mikro, Kecil dan Menengah.

Downloads

Issue

Section

Articles