PENGARUH FUNDAMENTAL MAKROEKONOMI DAN PERJANJIAN INDONESIAN-JAPAN ECONOMIC PARTNERSIP AGREEMENT TERHADAP INVESTASI JEPANG KE INDONESIA

Abstrak

According to BKPM, over the past 15 years, Japan has been the second largest investor in Indonesia. The aim of this research is to determine the influence of macroeconomic fundamentals, including inflation in Indonesia, Indonesian exports to Japan, Indonesian imports from Japan, the US dollar exchange rate, and the IJEPA agreement on Japanese investment in Indonesia. Data analysis in this study used Multiple Linear Regression Analysis. The data sample in this study comprised secondary data in the form of annual data for the period 1990-2022. The results of this research analysis state that variable X simultaneously has a significant effect on Japanese investment in Indonesia. Imports and the US dollar exchange rate have a positive and significant impact on Japanese investment in Indonesia, exports have a negative and significant impact. However, inflation and IJEPA didn’t have a significant impact on Japanese investment in Indonesia. The implication of this research is the need to maintain macroeconomic fundamental stability and optimize the IJEPA agreement, as it has a significant impact on FDI. Additionally, there is a need for a review of the content and policies of the IJEPA to better benefits FDI.