Interdependensi Foreign Direct Investment (FDI), Trade Openness, dan Pengendalian Korupsi Dalam Mendorong Kinerja Ekonomi di Kawasan ASEAN-6
DOI:
https://doi.org/10.37859/jae.v15i2.10531
Abstract
This study analyzes the effects of Foreign Direct Investment (FDI), trade openness, and corruption control on economic growth in the ASEAN-6 region, which includes Indonesia, Thailand, Malaysia, Vietnam, the Philippines, and Cambodia. Annual data for the period 2009–2023 obtained from the World Bank were analyzed using panel data regression. The results indicate that FDI has a positive effect on economic growth, highlighting the important role of foreign investment in stimulating regional economic activity. In contrast, trade openness has a negative effect on economic growth, suggesting that trade liberalization has not yet generated optimal outcomes. Meanwhile, corruption control does not have a significant effect on economic growth. These findings emphasize the importance of more adaptive investment and trade policies to enhance the economic competitiveness of the ASEAN-6 region.
Downloads
References
ADB. (2022). Asian Development Outlook 2022: Driving Economic Recovery. Manila: Asian Development Bank.
Ahmad, F., & Ismail, S. (2021). Political stability, Governance Quality and Foreign Direct Investment Inflows in Emerging Economies. Journal of Asian Economics, 74, 101320.
Alfada, A. (2019). The Destructive Effect of Corruption on Economic Growth in Indonesia: A Threshold Model. Heliyon, 5(10).
Baltagi, B. H. (2005). Econometric Analysis of Panel Data Third Edition (3rd ed.). Chichester: John Wiley & Sons Ltd.
Bank, W. (2023). World Bank Indicators. Washington, D.C.: World Bank.
Biswas, S., & Saha, A. (2014). Macroeconomic Determinants of Economic Growth in India: A Time series Analysis. SOP Transactions on Economic Research, 1(2), 54–72.
Chabi, P., & Saygılı, R. F. (2024). Trade openness and structural change dynamics in West African countries. Journal of Economic Structures, 13(6).
Chang, C. C., & Mendy, M. (2012). Economic growth and openness in Africa: What is the empirical relationship? Applied Economics Letters, 19(18), 1903–1907.
Cieslik, A., & Goczek, L. (2018). Control of corruption, international investment, and economic growth – Evidence from panel data. World Development, 103, 323–335.
Egbo, O. P., Onwumere, J. U., & Okpara, G. C. (2011). Foreign direct investment and economic growth in Nigeria: A Granger causality analysis. International Journal of Economic Perspectives, 5(2), 117–131.
Erum, N., & Hussain, S. (2019). Corruption, Natural Resources and Economic Growth: Evidence from OIC Countries. Resources Policy, 63, 101429.
Grundler, K., & Potrafke, N. (2019). Corruption and Economic Growth: New Empirical Evidence. European Journal of Political Economy, 60, 101810.
Gujarati, D. N. (2011). Econometrics by Example. Houndmills: Palgrave Macmillan.
IMF. (2023). Regional Economic Outlook: Asia-Pacific 2023. Washington, D.C.: International Monetary Fund..
Transparency International. (2023). Corruption Perceptions Index 2023. Berlin: Transparency International.
Krugman, P. R., Obstfeld, M., & Melitz, M. (2022). International Economics: Theory and Policy (11th ed.). Boston: Pearson Education.
Nam, H.-J., & Ryu, D. (2024). Does trade openness promote economic growth in developing countries? Journal of International Financial Markets, Institutions and Money, 93, 101985.
Nguyen, P. T., & Doan, T. N. (2021). Corruption, Institutional Quality and Economic Growth in Transitional Economies. Economic Analysis and Policy, 69, 260–273.
Omoteso, K., & Mobolaji, H. I. (2014). Corruption, governance and economic growth in Sub-Saharan Africa: A need for the prioritisation of reform policies. Social Responsibility Journal, 10(2), 316–330.
Osuma, G., & Nzimande, N. P. (2024). Revisiting the link between trade openness and economic growth using panel methods. Economies, 11, 283.
Park, J., & Lee, S. (2022). Does trade Openness Improve Economic Performance? New Evidence from Panel Data Analysis. Journal of International Trade & Economic Development, 31(8), 1053–1071.
Romer, D. (2019). Advanced Macroeconomics (5th ed.). New York: McGraw-Hill Education.
Samuelson, P. A., & Nordhaus, W. D. (2009). Economics (19th ed.). New York: McGraw-Hill Education.
Seti, T. M., Mazwane, S., & Christian, M. (2025). Financial Openness , Trade Openness , and Economic Growth Nexus : A Dynamic Panel Analysis for Emerging and Developing Economies. Journal of Risk and Financial Management, 18(2), 1–15.
UNCTAD. (2023). World Investment Report 2023: Investing in Sustainable Energy. Geneva: United Nations Conference on Trade and Development.
Vo, D. H., & Nguyen, T. C. (2021). Determinants of Economic Growth in ASEAN: A Panel Data Approach. Asian Economic Journal, 35(3), 253–273.
World Bank. (2020). Global Economic Prospects 2020. Washington, D.C.: World Bank.
World Bank. (2024). World Development Indicators (WDI). Washington, D.C.: World Bank
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Jurnal Akuntansi dan Ekonomika

This work is licensed under a Creative Commons Attribution 4.0 International License.






