Analisis Dampak Investasi Asing Langsung Terhadap Pertumbuhan Ekonomi dan Kesejahteraan Masyarakat di Negara Berkembang

Muhammad Fauzan; Abdi Rahman

doi:10.71094/ecoin.v2i1.198

Authors

Muhammad Fauzan Program Studi Ekonomi Pembangunan, Universitas Brawijaya, Malang, Indonesia Author
Abdi Rahman Program Studi Ekonomi Pembangunan, Universitas Brawijaya, Malang, Indonesia Author

DOI:

https://doi.org/10.71094/ecoin.v2i1.198

Keywords:

Investasi Asing Langsung, Pertumbuhan Ekonomi, Kesejahteraan Masyarakat, Negara Berkembang

Abstract

This study examines the relationship between Foreign Direct Investment (FDI) and
economic growth and welfare in developing countries, combining a review of classical
theory and the latest empirical evidence up to 2025. The study summarizes the
transmission mechanisms of FDI (technology transfer, capital increases, spillover
effects), assesses the conditions for recipient countries to optimally benefit from FDI,
and evaluates the current macro context in which global FDI flows and those to
developing countries experienced a sharp decline in the early 2020s. The results show
that FDI has the potential to increase growth and welfare but its effects are highly
dependent on absorptive capacity (human capital, financial markets, institutions) and
domestic policies. Policy recommendations are aimed at strengthening domestic
capabilities, improving investment quality, and integrating sustainable development
goals.

References

Agma, A. R. (2025). Dampak Investasi Asing Langsung terhadap Peningkatan Kesejahteraan Masyarakat. Jurnal Manajemen Bisnis, 1(1), 8-14.

Agustin, S. (2024). Dampak Investasi Asing Langsung terhadap Pertumbuhan Lapangan Kerja Lokal. Circle Archive, 1(5).

Ahmad, U. S., Syariah, E., & Takengon, I. (2024). Analisis kebijakan pajak terhadap pertumbuhan ekonomi di negara berkembang. Brilliant: Journal of Islamic Economics and Finance, 2(1), 49-67.

Alfaro, L., Chanda, A., Kalemli-Ozcan, S., & Sayek, S. (2004). FDI and economic growth: the role of local financial markets. Journal of international economics, 64(1), 89-112.

Apriliansah, L. (2024). Analisis Pengaruh Investasi Terhadap Pertumbuhan Ekonomi. Jurnal Intelek Dan Cendikiawan Nusantara, 1(2), 2401-2413.

Ash-Shiddiqy, M. (2025). Analisis Dampak Investasi Asing Terhadap Pertumbuhan Ekonomi Di Indonesia. Ekosiana Jurnal Ekonomi Syari ah, 12(1), 1-23.

Asrinda, D., & Setiawati, R. I. S. (2022). Pengaruh investasi asing, ekspor neto dan tenaga kerja terhadap pertumbuhan ekonomi Indonesia. Equilibrium: Jurnal Ilmiah Ekonomi, Manajemen Dan Akuntansi, 11(2), 50-58.

Baltagi, B. H. (2008). Econometric analysis of panel data. Rohn Wiley.

Barorah, F., Malik, N., & Arifin, Z. (2019). Analisis investasi asing langsung (FDI) di negara Asean tahun 2000-2017. Jurnal Ilmu Ekonomi JIE, 3(3), 397-409.

Borensztein, E., De Gregorio, J., & Lee, J. W. (1998). How does foreign direct investment affect economic growth?. Journal of international Economics, 45(1), 115-135.

Campos, N. F., & Kinoshita, Y. (2002). Foreign direct investment as technology transferred: Some panel evidence from the transition economies. The Manchester School, 70(3), 398-419.

Creswell, J. W., & Creswell, J. D. (2017). Research design: Qualitative, quantitative, and mixed methods approaches. Sage publications.

Dewi, T. M. (2016). Pengaruh pertumbuhan ekonomi, BI rate, dan inflasi terhadap investasi asing langsung di Indonesia. Jurnal Pendidikan Ekonomi (JUPE), 4(3).

Hermes, N., & Lensink, R. (2003). Foreign direct investment, financial development and economic growth. The journal of development studies, 40(1), 142-163.

Hirschman, A. O. (1958). The Strategy of Economic Development. Yale University Press.

Ismail, F. F. P., Panjaitan, R. A., Marpaung, V. H., & Siswajanthy, F. (2025). Pengaruh Globalisasi Terhadap Pertumbuhan Ekonomi Di Negara Berkembang: Analisis Dampak Investasi Asing Langsung (FDI), Ekspor, dan Perdagangan Bebas Terhadap Pertumbuhan Ekonomi di Negara-Negara Berkembang. Indonesian Journal of Islamic Jurisprudence, Economic and Legal Theory, 3(1), 30-41.

ISMIRALDA, R. (2025). Peran Investasi Asing Langsung terhadap Pertumbuhan Ekonomi Nasional. Circle Archive, 1(7).

Jenkins, R. (2006). Globalization, FDI and employment in Viet Nam. Transnational corporations, 15(1), 115.

Jufrida, F., Syechalad, M. N., & Nasir, M. (2016). Analisis pengaruh investasi asing langsung (FDI) dan investasi dalam negeri terhadap pertumbuhan ekonomi Indonesia. Jurnal Perspektif Ekonomi Darussalam (Darussalam Journal of Economic Perspec, 2(1), 54-68.

Klein, M. U., Aaron, C., & Hadjimichael, B. (2001). Foreign direct investment and poverty reduction (Vol. 2613). World Bank Publications.

Majid, M. K. (2012). Analisis pengaruh utang luar negeri (ULN) dan penanaman modal asing (PMA) terhadap pertumbuhan ekonomi Indonesia Tahun 1986-2011. Jurnal Ilmiah Mahasiswa FEB, 1(2).

Malik, A., & Kurnia, D. (2017). Pengaruh utang luar negeri dan penanaman modal asing terhadap pertumbuhan ekonomi. Jurnal akuntansi, 3(2).

Manalu, F. (2024). Keterkaitan antara Investasi Asing Langsung (FDI) dan Pembangunan Ekonomi. Circle Archive, 1(5).

Meilaniwati, H., & Tannia, T. (2021). Analisis pengaruh penanaman modal asing (pma), penanaman modal dalam negeri (pmdn), trade openness (to) dan inflasi terhadap pertumbuhan ekonomi di asean-5 tahun 2009-2018. Business management journal, 17(1), 89-100.

Moran, T. (2011). Foreign direct investment and development: Launching a second generation of policy research: Avoiding the mistakes of the first, reevaluating policies for developed and developing countries. Columbia University Press.

Nadzir, M., & Kenda, A. S. (2023). Investasi asing dan investasi dalam negeri: Pengaruhnya pada pertumbuhan ekonomi di indonesia. JIMAT (Jurnal Ilmiah Mahasiswa Akuntansi) Undiksha, 14(02), 317-328.

North, D. C. (1990). Institutions, institutional change and economic performance. Cambridge university press.

Nunnenkamp, P., & Spatz, J. (2003). Foreign direct investment and economic growth in developing countries: how relevant are host-country and industry characteristics? (No. 1176). Kiel working paper.

Pelinescu, E. (2015). The impact of human capital on economic growth. Procedia Economics and finance, 22, 184-190.

Prahaski, N., & Ibrahim, H. (2023). Kebijakan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Negara Berkembang. Jurnal Minfo Polgan, 12(2), 2474-2479.

Rahmawati, W. (2022). Analisis Faktor Yang Mempengaruhi Foreign Direct Investment (Fdi) Asing Terhadap Pertumbuhan Ekonomi Di Idonesia Tahun 2000-2019. Profit: Jurnal Manajemen, Bisnis Dan Akuntansi, 1(4), 60-77.

Rauf, D. I. (2024). Dampak Investasi Asing Langsung Terhadap Pertumbuhan Ekonomi Indonesia. Jurnal Ilmu Manajemen, Bisnis Dan Ekonomi (JIMBE), 2(1), 107-116.

Ravallion, M. (2011). A comparative perspective on poverty reduction in Brazil, China, and India. The World Bank Research Observer, 26(1), 71-104.

Ringkuangan, S., Masinambow, V. A., & Tolosang, K. D. (2025). Analisis Pengaruh Investasi Asing Langsung (China, Singapura, Jepang) Terhadap Pertumbuhan Ekonomi di Indonesia. Jurnal Berkala Ilmiah Efisiensi, 25(2), 27-40.

Rodrik, D., Subramanian, A., & Trebbi, F. (2004). Institutions rule: the primacy of institutions over geography and integration in economic development. Journal of economic growth, 9(2), 131-165.

Simangunsong, N. A., & Barika, B. (2025). ANALISIS INVESTASI DALAM PERTUMBUHAN EKONOMI DI INDONESIA. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 9(1), 952-964.

Solow, R. M. (1956). A contribution to the theory of economic growth. The quarterly journal of economics, 70(1), 65-94.

Tevi Mahriza, S. A. B. (2019). Pengaruh investasi dalam negeri, investasi asing, tenaga kerja dan infrastruktur terhadap perekonomian di Provinsi Sumatera Barat. Jurnal Kajian Ekonomi Dan Pembangunan, 1.

Todaro, M. P., & Smith, S. C. (2015). Economic Development (12th ed.). Pearson Education Limited.

UNCTAD. (2024). World Investment Report 2024: Investment Facilitation for Development. Geneva: United Nations.

Violita, C. W., Isnainul, O. K., Pakpahan, E. F., Hadlen, M., Michael, M., & Danniel, D. (2020). Peranan Investasi Asing dalam Percepatan Pertumbuhan Ekonomi di Indonesia. JATISWARA, 35(3).

Wahyuningsih, T. (2012). Dampak investasi pemerintah dan investasi swasta Terhadap pertumbuhan ekonomi dan kesejahteraan masyarakat di Provinsi Maluku. IQTISHODUNA.

Wooldridge, J. M. (2016). Introductory econometrics a modern approach. South-Western cengage learning.

World Bank. (2024). Global Economic Prospects: Subdued Investment in an Uncertain World. Washington, DC: World Bank.

Yusroni, N. (2021). Analisis Pengaruh Investasi Asing Langsung (Eropa, Amerika Serikat dan Tiongkok) terhadap Pertumbuhan Ekonomi dan Kesempatan Kerja di Indonesia. AKSES: Jurnal Ekonomi dan Bisnis, 16(1), 76-83.