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Kualiti Institusi, Makroekonomi dan Pelaburan Langsung Asing (PLA): Kajian Data Panel di Negara MENA (The Quality of Institutions, Macroeconomics, and Foreign Direct Investment (FDI): A Panel Study of MENA Countries)

Asian Journal of Accounting and Governance

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Title Kualiti Institusi, Makroekonomi dan Pelaburan Langsung Asing (PLA): Kajian Data Panel di Negara MENA (The Quality of Institutions, Macroeconomics, and Foreign Direct Investment (FDI): A Panel Study of MENA Countries)
 
Creator Abdul Karim, Zulkefly
Ren, Chua Chy
Yaacob, Maryani
 
Subject Foreign Direct Investment (FDI); institutions; macroeconomics; PMG
 
Description Kertas ini mengkaji pengaruh pemboleh ubah institusi dan makroekonomi terhadap pelaburan langsung asing (PLA) di negara MENA (Middle East and North Africa) dengan menggunakan kaedah penganggaran data panel ‘Pooled Mean Group’ (PMG). Fokus utama kajian adalah untuk menguji pengaruh beberapa komponen pemboleh ubah institusi iaitu kestabilan kerajaan, profil pelaburan, konflik dalaman, rasuah dan kualiti birokrasi terhadap aliran masuk PLA ke negara MENA. Hasil kajian mendapati faktor institusi memainkan peranan yang penting dalam mempengaruhi aliran masuk PLA ke negara MENA. Subkomponen pemboleh ubah institusi iaitu kestabilan kerajaan, profil pelaburan, konflik dalaman dan kualiti birokrasi adalah signifikan dan berhubung positif dengan aliran masuk PLA ke negara MENA dalam jangka masa panjang. Walau bagaimanapun, rasuah berhubung secara negatif dengan PLA dalam jangka masa panjang. Selain itu, pembolehubah makroekonomi seperti pertumbuhan KDNK dan keterbukaan ekonomi juga memberi kesan yang positif kepada kemasukan PLA ke negara MENA. Sebaliknya, dalam jangka pendek, semua subkomponen pemboleh ubah institusi dan pemboleh ubah makroekonomi tidak signifikan dalam mempengaruhi aliran PLA ke negara MENA. Oleh itu, dalam usaha menarik pelaburan asing, pembuat dasar di negara MENA perlu menyediakan persekitaran pelaburan yang mesra kepada pelabur dan meningkatkan kualiti institusi domestik.This paper investigates the role of institutional and macroeconomic variables upon the inflow of foreign direct investment (FDI) in selected MENA (Middle East and North Africa) by using Pooled Mean Group (PMG) panel data estimation. The focal point is to examine the influence of several institution variables namely the government stability, investment profile, internal conflict, corruption, and bureaucracy quality upon the inflow of FDI to MENA country. The empirical findings revealed that the important role of institutional factors in influencing the inflow of FDI to MENA countries. Subcomponents of institutional variables namely government stability, investment profile, internal conflict, and bureaucracy quality are significance and have positive effects in influencing the inflow of FDI to MENA countries in the long-run. However, corruption has a negative effect upon the inflow of FDI in the long run. In addition, macroeconomic variables such as GDP growth and economic openness have a positive effect on the inflows of FDI. Whereas, in the short-run, all institutions variables are not statistically significance in influencing the inflow of FDI. Thus, in order to attract the foreign investors, the policy maker in MENA countries should implement a FDI-friendly policies by providing and maintaining the quality of domestic institutions.
 
Publisher Penerbit UKM
 
Contributor —
 
Date 2014-06-18
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://ejournal.ukm.my/ajac/article/view/5775
 
Source Asian Journal of Accounting and Governance; Vol 4 (2013); 61-71
2180-3838
 
Language eng
 
Relation http://ejournal.ukm.my/ajac/article/view/5775/2803
 
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