Pengaruh Ekspor Industri Migas dan Investasi Asing Langsung (FDI) Terhadap Pertumbuhan Ekonomi di Indonesia Tahun 1983-2023
The Effect of Oil and Gas Industry Exports and Foreign Direct Investment (FDI) on Economic Growth in Indonesia 1983-2023
Abstract
This study aims to analyze the impact of oil and gas industry exports (EIM) and foreign direct investment (FDI) on Indonesia's economic growth. The research uses time series data spanning from 1983 to 2023, obtained from the Central Statistics Agency and the World Bank. The analysis method employed is multiple linear regression. The results indicate that oil and gas exports have a significant positive effect on economic growth. In contrast, foreign direct investment (FDI) has a significant negative impact on economic growth. This finding differs from the general view and most previous studies that suggest FDI promotes economic growth, especially in developing countries. The implications of this study highlight the need to strengthen the oil and gas export sector as a driver of economic growth and to implement selective policies toward FDI, ensuring that foreign investment is directed toward productive sectors capable of supporting sustainable economic development and providing tangible benefits to national progress
References
Afifatus, L. (2023). Analisis Pengaruh Ekspor, Investasi dan Tenaga Kerja Terhadap GDP Indonesia Tahun 1990-2020. Jurnal Akuntansi, Manajemen, Bisnis dan Teknologi (AMBITEK), 3, 1-13. doi:10.56870/ambitek.v3i1.59
Afliana, M., Zulham, T., Suriani, S., & Miksalmina, M. (2024). Impact of Oil and Gas vs. Non-Oil and Gas Exports on Provincial Economic Growth: A Panel Data Analysis. Grimsa Journal of Business and Economics Studies, 1(2), 56-63. doi:10.61975/gjbes.v1i2.24
Anggoro, A. C. P. (2022). EFFECT OF EXPORTS, IMPORTS OF OIL AND GAS PRODUCTS, INFLATION, ON ECONOMIC GROWTH. CURRENT ADVANCED RESEARCH ON SHARIA FINANCE AND ECONOMIC WORLDWIDE, 2(1), 148-163. doi:10.55047/cashflow.v2i1.436
Edy, S., Citra, W., & Ahmad, N. (2024). Analisis Pengaruh Ekspor Migas, Ekspor Non Migas, Dan Penanaman Modal Asing Terhadap Pertumbuhan Ekonomi Indonesia. Jurnal Ekonomi dan Pembangunan Indonesia, 2(1), 102-109. doi:10.61132/jepi.v2i1.309
Ekanayake, E., & Ledgerwood, J. (2010). How Does Foreign Direct Investment Affect Growth in Developing Countries? An Empirical Investigation.
Gao, J. (2023). R-Squared (R 2 ) – How much variation is explained? Research Methods in Medicine & Health Sciences, 5. doi:10.1177/26320843231186398
Hanifah, U. (2022). Pengaruh Ekspor dan Impor Terhadap Pertumbuhan Ekonomi di Indonesia. TRANSEKONOMIKA: AKUNTANSI, BISNIS DAN KEUANGAN, 2(6), 107-126. doi:10.55047/transekonomika.v2i6.275
Ilman, A. (2016). The Effect of Foreign Direct Investment on Indonesia’s Economic Growth. Jurnal Ekonomi dan Bisnis Indonesia, 1. doi:10.37673/jebi.v1i2.1
Jawaid, T., & Raza, S. A. (2012). Foreign Direct Investment, Growth and Convergence Hypothesis: A Cross Country Analysis.
Johnston, K., & Ramirez, M. (2015). Foreign Direct Investment and Economic Growth in Cote D’Ivoire: A Time Series Analysis. Business and Economic Research, 5, 35-47. doi:10.5296/ber.v5i2.7638
Le, Y., Wen, J., Wu, Y., Liu, J., & Zhu, Y. (2024). Investigating factors influencing oil volatility: a GARCH-MIDAS model analysis. Frontiers in Energy Research, 12. doi:10.3389/fenrg.2024.1392905
Nketsiah, I., & Quaidoo, M. (2017). The Effect of Foreign Direct Investment on Economic Growth in Ghana. Journal of Business and Economic Development, 2, 227-232. doi:10.11648/j.jbed.20
Ogwuma, M., Nwachukwu, C., Avoaja, P., & Nwabeke, E. (2025). Foreign Direct Investments and Economic Growth of an Emerging Economy: Implications for Nigeria (2009 – 2023). African Journal of Accounting and Financial Research, 8, 33-50. doi:10.52589/AJAFR-QFD43ZRV
Olawunmi, O., Johnson, I. O., Olowo, S. O., & Aderemi, T. A. (2021). Crude Oil Exports and Economic Growth in Nigeria: An Implication for Export-Led Growth Hypothesis. Journal of Management & Science, 19(1), 12. doi:10.57002/jms.v19i1.222
Sahin, B., & Dereli, D. (2018). Foreign Direct Investment and Economic Growth: Panel Data Analysis. International Review of Management and Business Research, 7, 646-655. doi:10.30543/7-3(2018)-2
Sholihah, S. M. a., Aditiya, N. Y., Evani, E. S., & Maghfiroh, S. (2023). Konsep Uji Asumsi Klasik pada Regresi Linear Berganda. Jurnal Riset Akuntansi Soedirman(2), 102-110%V 102. doi:10.32424/1.jras.2023.2.2.10792
Udoudo, K. J. (2024). From Reserves to Revenue: The Economic Dynamics of Nigeria's Natural Gas Export from 1999 - 2022. Paper presented at the SPE Nigeria Annual International Conference and Exhibition.
Wassalwa, M., Siregar, H., Janani, K., & Harahap, S. (2023). Analisis Uji Hipotesis Penelitian Perbandingan Menggunakan Statistik Parametrik. Al Ittihadu, 3, 67-79. doi:10.63736/ai.v3i1.124
Xue, L., Chen, F., Fu, G., Xia, Q., & Du, L. (2021). Stability Analysis of the World Energy Trade Structure by Multiscale Embedding. Frontiers in Energy Research, 9, 729690. doi:10.3389/fenrg.2021.729690
Yusrizal, Y., Sudarno, S., & Lifo, L. (2022). Faktor-Faktor Yang Mempengaruhi Tax Avoidance dengan Leverage Sebagai Variabel Intervening Pada Perusahaan Pertambangan Yang Terdaftar di BEI Periode 2015-2019. Jurnal BANSI - Jurnal Bisnis Manajemen Akutansi, 2, 31-45. doi:10.58794/bns.v2i1.127
Zahran, P., Veraldo, N., & Adji, P. (2025). The Impact of Foreign Direct Investment on Economic Growth in Indonesia. JOURNAL OF ECONOMICS, FINANCE AND MANAGEMENT STUDIES, 08. doi:10.47191/jefms/v8-i6-48
Copyright (c) 2025 Dea Diandra Damayanti, Fitri Noviyana Putri, Dodi Tirtana
This work is licensed under a Creative Commons Attribution 4.0 International License.
