PERDAGANGAN INTERNASIONAL, INVESTASI ASING, DAN EFISIENSI PEREKONOMIAN NEGARA-NEGARA ASEAN

  • Rifai Afin
  • Herry Yulistiono
  • Nur Alfillail Oktarani

Abstract

This research analyzes the impact of the international trade and the foreign investment on the efficiency of the host country. We apply two consecutive steps on the 5 ASEAN member countries data during the period of 1995 - 2005.

The first step is the estimation of the frontier model, using the Stochastic Frontier Analysis (SFA). The second step is the estimation of inefficiency determinacy model, covering the impact of the Foreign Direct Investment (FDI), Foreign Portfolio Investment (FPI), Other Foreign Investment (OFI), Human Development Index (HDI) and the Financial Market Development (FMD). Our result shows the international trade, FMD and the 3 forms of the foreign investment are significantly affect the economic efficiency.

Keywords:Efficiency, Foreign investment, Stochastic Frointier Analysis, international trade, ASEAN.

JEL Classification: F14, F15

References

Arief, Sritua.1993. Metodologi Penelitian Ekonomi. Jakarta : Penerbit Universitas Indonesia (UI Press)

Arrow, K. J. 1971. Essays in the Theory of Risk-Bearing. Amsterdam: North-Holland.

Blomstrom, M., A. Kokko, dan Zejan. 1994. Host Country Competition, Labour Skills, and Technology Transfer by Multinationals. Weltwirtschaftliches Archiv 128:522-33.

Bornschier, V., dan C. Chase-Dunn. 1985. Transnational Corporations and Underdevelopment. New York: Praeger.

Caves, R. E. 1971. International Corporations: The Industrial Economics of Foreign Investment. Economica 38:1-27.

______, 1974. Multinational Firms, Competition and Productivity in Host Country Markets. Economica 41:176-93.

Das, S., 1987. Externalities and Technology Transfer through Multinational Corporations: A Theoretical Analysis. Journal of International Economics 123:188-206.

Dunning, J. H., dan A. M. Rayman.1985. In Honor of Stephen Hymer, the First Quarter Century of the Theory of Foreign Direct Investment: The Influence of Hymer’s Dissertation on the Theory of Foreign Direct Investment. AEA Papers and Proceedings 75(2):228-32.

Fan, Seggen. 1999. Teknological Change, Technikal and Allocative Effisiensi in Chinese Agriculture : The Case of Rice Production in Jiangsu. EPTD Discussion Paper no.39

Fan, Emma Xiaoqin. 2002. Spillovers from Foreign Direct Investment -A Survey. ERD Working Paper Series no.33. Asian Development Bank

Firebaugh, G., 1998. Growth Effects of Foreign and Domestic Investment. American Journal of Sociology 98(1):105-30.

Findlay, R., 1978. Relative Backwardness, Direct Foreign Investment, and the Transfer of Technology: A Simple Dynamic Model. Quarterly Journal of Economics 92:1-16.

Gerschenkron, A. 1962. Economic Backwardness in Historical Perspective. Massachusetts: Belknap Press of Harvard.

Görg, H dan Greenaway, D. 2001. Foreign Direct Investment and Intra-Industry Spillovers: A Review of the Literature. Research Paper 2001/37. Leverhulme Centre for Research on Globalisation and Economic Policy.

Grossman, G. M. dan E. Helpman. 1991. Trade, Knowledge Spillovers, and Growth. European Economic Review 35(2-3):517-26.

Hein, S., 1992. Trade Strategy and the Dependency Hypothesis: A Comparison of Policy, Foreign Investment, and Economic Growth in Latin America and East Asia. Economic Development and Cultural Change 40(3):495-521.

Helpman, E. 1993. Innovation, Imitation, and Intellectual Property Right. Econometrica 61:1247-80.

Hsiao, Cheng. 1986. Analysis of Panel Data.Cambridge. UK. Cambridge University Press

Hymer, S. H., 1976. The International Corporations of National Firms: A Study of Direct Foreign Investment (1960). MIT Monographs in Economics, Cambridge, Massachusetts.

Iyer, Krishna G.,dkk. 2005. Measuring Efficiency Eksternalitas from Trade and Alternative from Trade and Alternative Forms of Foreign Investment. CEPA working paper series no.04/2005

Japan Bank for International Cooperation (JBIC) 2002. Foreign Direct Investment and Development : Where Do We Stand?. JBICI Research Paper No. 15. Japan : JBICI

Kindleberger, C. P.1984. Multinational Excursions. Cambridge: MIT Press.

Koizumi, T. dan K. J. Kopecky. 1977. Economic Growth, Capital Movements and the International Transfer of Technical Knowledge. Journal of International Economics 7:45-65.

Levi, Maurice D. 2002. Keuangan Internasional. Edisi pertama. Terjemahan. Yogyakarta : Penerbit ANDI

Lucas, R. E. 1988. On the Mechanics of Economic Development. Journal of Monetary Economics 22(1):3-42.

Nicholson, Walter., 1997. Microeconomic Theory: Basic Principles and Application.Massachussetts: The Dryden Press.

Organisation for Economic Co-operation and Development. 2002. Foreign Direct Investment for Development, Maximising Benefits, Minimising Costs. France. : OECD Publications Service 2003. Checklist for Foreign Direct Investment Incentive Policies. OECD Committee on International Investment and Multinational Enterprises (CIME).

Ramanathan, Ramu. 1992. Introductory Econometrics with Applications. University of California. San Diego, The Dryden Press.

Romer, P. M. 1990. Endogenous Technological Change. Journal of Political Economy 98:S71-102.

STATA. 2003. STATA References. Texas : STATA corporation

Stevens, Philip Andrew Stevens dan Richard Kneller. Accounting for Background Variables in Stochastic Frontier Analysis. 2004. National Institute of Economic and Social Research.

Teece, D. J.1985. Multinational Enterprise, Internal Governance, and Industrial Organization. AEA Papers and Proceedings 75(2):233-7.

Walz, U. 1997. Innovation, Foreign Direct Investment and Growth. Economica 64:63-79.
Published
2008-04-15
Section
Articles