KETERKAITAN GLOBALISASI DENGAN PERTUMBUHAN INKLUSIF PADA NEGARA-NEGARA ASEAN BERPENDAPATAN MENENGAH
Abstract Views: 3003 |
PDF
Downloads: 1696
Downloads
Abstract
Abstrak
Seiring perkembangan zaman, arus globalisasi dan gelombang teknologi menimbulkan kompetisi di pasar internasional. Untuk memenangkan kompetisi, beberapa negara mendorong kebijakan ke arah keterbukaan perdagangan dan menarik investasi asing sebanyak mungkin. Kebijakan tersebut akan mempercepat pembangunan dan meningkatkan pertumbuhan ekonomi, namun juga akan meningkatkan ketimpangan pendapatan. Dalam penelitian ini dikaji mengenai keterkaitan antara ekspor dan investasi asing, sebagai indikator globalisasi, dengan pertumbuhan ekonomi dan ketimpangan pendapatan, sebagai indikator pertumbuhan inklusif, di negara ASEAN berpendapatan menengah dengan menggunakan analisis regresi panel Three Stage Least Square (3SLS) selama periode 1995-2015. Hasil penelitian menunjukkan bahwa, dalam konsep globalisasi, terdapat hubungan dua arah yang signifikan antara ekspor dan investasi asing. Di sisi lain, dalam konsep pertumbuhan inklusif, juga terdapat hubungan dua arah yang signifikan antara pertumbuhan ekonomi dan ketimpangan pendapatan. Sementara itu, ekspor dan investasi asing, sebagai indikator globalisasi, secara positif dapat mendorong pertumbuhan ekonomi inklusif hanya di negara ASEAN berpendapatan menengah ke atas. Oleh karena itu, direkomendasikan untuk mendorong kebijakan yang mempermudah ekspor, khususnya untuk produk yang bernilai tambah tinggi dan berdaya saing, sehingga kontribusi ekspor meningkat dan mampu mendorong pertumbuhan ekonomi negaranya.
Kata Kunci: Globalisasi, Ekonomi Inklusif, Infrastruktur, 3SLS
Abstract
In the middle of the last century, globalization and technological waves have created competition in the international market. To win the competition, some countries are pushing policies toward trade openness and attracting as much foreign investment as possible. These policies will accelerate development and increase economic growth, but will also increase income inequality. This study examines the relationship between exports and foreign investment, as an indicator of globalization, with economic growth and income inequality, as an indicator of inclusive growth, in middle-income ASEAN countries using a Three Stage Least Square (3SLS) panel regression analysis during the period 1995-2015. The empirical finding indicates that, in the concept of globalization, there is a significant two-way relationship between exports and foreign investment. On the other hand, in the concept of inclusive growth, there is also a significant two-way relationship between economic growth and income inequality. Meanwhile, exports and foreign investment, as indicators of globalization, can positively encourage inclusive economic growth only in upper middle-income ASEAN countries. Therefore, it is recommended to encourage policies that facilitate exports, especially for products that have high added value and competitive products, so that the contribution of exports increases and is able to increase the country's economic growth.
Keywords: Globalization, Inclusive Economy, Infrastructure, 3SLS
JEL Classification: F40, F62, I00, O18
References
Acharya, S., Hölscher, J. and Perugini, C. (2012). Trade liberalisation and inequalities in Nepal: A CGE analysis. Economic Modelling, Elsevier B.V., 29(6), pp. 2543–2557.
Alonso, J. A., Glennie, J. and Sumner, A. (2014). Recipients and Contributors : Middle income countries and the future of development cooperation. DESA Working Paper, (135).
Aradhyula, S. V., Rahman, T. and Seenivasan, K. (2007). Impact of International Trade on Income and Income Inequality. American Agricultural Economics Association, (520), p. 43.
Arsyad, Lincolin. (2010). Ekonomi Pembangunan. Yogyakarta : STIM YKPN.
Awokuse, T. O. (2007). Causality between exports, imports, and economic growth: Evidence from transition economies. Economics Letters, 94(3), pp. 389–395.
Banerjee, A. V and Newman, A. F. (2003). Inequality, Growth, and Trade Policy. Technology, (1993), pp. 1–16.
Basu, P. and Guariglia, A. (2003). Foreign Direct Investment, Inequality , and Growth. Journal of Macroeconomics, 29 (February), pp. 824–839.
Beaton, K., Cebotari, A. and Komaromi, A. (2017). Revisiting the Link between Trade, Growth and Inequality: Lessons for Latin America and the Caribbean. IMF Working Paper.
Benhabib, J. (2003). The tradeoff between inequality and growth. Annals of Economics and Finance, 507, pp. 491–507.
Bouras, H. and Raggad, B. (2015). Foreign Direct Investment and Exports : Complementarity or Substitutability An Empirical Investigation. International Journal of Economics and Financial Issues, 5(4), pp. 933–941.
Brown, J. R., Martinsson, G., and Petersen, B. C. (2017). Stock Markets, Credit Markets, and Technology-Led Growth. J. Finan. Intermediation, 32, 45–59.
Calderón, C. and Servén, L. (2004). The Effects of Infrastructure Development on Growth and Income Distribution. World Bank Publications Working Paper, 3400.
Çeviş, I., and Çamurdan, B. (2007). The Economic Determinants of Foreign Direct Investment in Developing Countries and Transition Economies. The Pakistan Development Review, 46 : 3 (Autumn), 285–299.
Coulibaly, S. K., Erbao, C., and Metuge Mekongcho, T. (2018). Economic globalization, entrepreneurship, and development. Technological Forecasting and Social Change, 127, 271–280.
Dollar, D. and Kraay, A. (2004). Trade, Growth, and Poverty. The Economic Journal, 114, pp. 22–49.
Gründler, K. and Scheuermeyer, P. (2018). Growth effects of inequality and redistribution: What are the transmission channels?. Journal of Macroeconomics, 55, pp. 293–313.
Gujarati (2004). Basic Econometrics, Fourth Edition. 4th edn. The McGraw−Hill Companies.
Ismail, N. W. and Mahyideen, J. M. (2015). The Impact of Infrastructure on Trade and Economic Growth in Selected Economies in Asia Asian Development Bank Institute. ADB Institute, December 2 (No. 553).
Jhingan, M. L. (2012). Ekonomi Pembangunan dan Perencanaan. Jakarta: Rajawali Pers.
Khalighi, L., and Fadaei, M. S. (2017). A Study on the Effects of Exchange Rate and Foreign Policies on Iranians Dates Export. Journal of the Saudi Society of Agricultural Sciences, 16(2), 112–118.
Klasen, S. (2010). Measuring and Monitoring Inclusive Growth: Multiple Definitions, Open Questions, and Some Constructive Proposals. ADB Sustainable Development Working Paper Series, (12), p. 23.
Mankiw, N. G. (2003). Pengantar EKonomi Edisi Kedua jilid 2. Jakarta: Erlangga.
Mankiw, N. G. (2006) Makroekonomi Edisi Keenam. Jakarta: Gelora Aksara Pratama.
Mendoza, O. M. (2017). Infrastructure Development, Income Inequality and Urban Sustainability in The People’s Republic of China. ADBI Working Paper Series, 713.
Ngepah, Nicholas. (2017). A review of theories and evidence of inclusive growth: an economic perspective for Africa. Current Opinion in Environmental Sustainability 2017, 24:52–57.
Pi, J. and Zhou, Y. (2014). Foreign capital, public infrastructure, and wage inequality in developing countries. International Review of Economics and Finance. Elsevier Inc., 29, pp. 195–207.
Pindyck, R. and Rubinfeld, D. (1991). Econometric Models and Econometric Forecasts. New York: Mac Graw-Hill.
Raychaudhuri, A. and De, P. (2010). Trade, Infrastructure and Income Inequality in Selected Asian Countries: An Empirical Analysis. International Trade and International Finance: Explorations of Contemporary Issues, (82), pp. 257–278.
Regan, M. (2017). Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region. International Journal of Financial Studies, 5(1), p. 5.
Rehman, C. A. et al. (2011). The Impact of Infrastructure on Foreign Direct Investment: The Case of Pakistan. International Journal of Business and Management, 6(5), pp. 268–276.
Sadik, A. L. I. T. and Bolbol, A. L. I. A. (2001). Capital Flows, FDI , and Technology Spillovers : Evidence from Arab Countries. World Development, 29(12), pp. 2111–2125.
Senadza, B., and Diaba, D. D. (2018). Effect of exchange rate volatility on trade in Sub-Saharan Africa. Journal of African Trade, 4 (1–2), 20–36.
Seyoum, M., Wu, R. and Lin, J. (2013). Foreign Direct Investment and Trade Openness in Sub-Saharan Economies: A Panel Data Granger Causality Analysis. South African Journal of Economics, p. n/a-n/a.
Srivastava, D. K. and Kapoor, G. (2007). ‘Test of Export-Led Growth and Growth- Led Export Hypotheses in Indian Context : An Econometric Analysis for the Period of 1951-2004. Asia Pacific Management Review, 12, pp. 113–115.
Stuart, E. (2011). Making Growth Inclusive : literature. Growth (Lakeland).
Sunde, T. (2017). Foreign direct investment, exports and economic growth: ADRL and causality analysis for South Africa. Research in International Business and Finance. Elsevier B.V., 41, pp. 434–444.
Todaro, M.P. dan Smith, S.C. (2006). Pembangunan Ekonomi Edisi Kesembilan Jilid 1 dan Jilid 2. Jakarta : Erlangga.
Wu, J. Y. and Hsu, C. C. (2012). Foreign direct investment and income inequality: Does the relationship vary with absorptive capacity?. Economic Modelling. Elsevier B.V., 29(6), pp. 2183–2189.
Yu, K. et al. (2011). Foreign direct investment and China’s regional income inequality. Economic Modelling. Elsevier B.V., 28(3), pp. 1348–1353.
Zellner, A. and Theil, H. (1962). Three-Stage Least Squares : Simultaneous Estimation of Simultaneous Equations. Econometrica, 30(1), pp. 54–78.
World Bank, (2016). New Country Classifications by Income Level: 2016-2017. Diunduh tanggal 21 November 2018 dari https://blogs.worldbank.org/opendata/new-country-classifications-2016#:~:text=As%20of%201%20July%202016,a%20GNI%20per%20capita%20between
World Bank, (2018). Perkembangan PDB per Kapita, Ekspor, dan Investasi Asing di Dunia dan ASEAN periode 1995-2015. Diunduh tanggal 09 Mei 2019 dari https://data.worldbank.org/indicator
Copyright (c) 2022 Buletin Ilmiah Litbang Perdagangan
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Buletin Ilmiah Litbang Perdagangan
