THE EFFECT OF GOVERNANCE AND SHADOW ECONOMY ON FDI IN G-20 COUNTRIES (2002-2015)
Keywords:
Shadow Economy, Foreign Direct Investment, Governance, Panel, G2
Abstract
This study aims to measure and analyze the influence of the development of several macro social-economic fundamental indicators, governance indicators, and shadow economic levels toward the level of Foreign Direct Direct Investment/FDI among G20 countries. By using regression panel data analysis, this study also examines the most optimal relationship model to explain the connection cross variables in each G20 country with using three panel data models, namely the Common Effect Model (CEM), Fixed Effect Model (FEM), and Random Effect Model (Rem) in the 2002-2015 period. The results show that the FEM is the most suitable for explaining the influence of the development of several macro-economic fundamental indicators, governance indicators, and shadow economy levels to the foreign direct investment level among G20 countries. The results of the FEM provide conclusions that for the socio-economic variable macro, there is a significant positive effect between the percentage of gross capital formation (ratio of gross domestic product) to the level of FDI net. Related to the governance indicator, the Regulatory Quality Index also has a significant positive influence on the level of FDI net. Meanwhile, the level of Shadow Economy in general does not have a significant effect to the net FDI level among G20 countries. However, if further analyzed in the FEM model per country, it is known that there is a significant negative effect between the level of Shadow Economy on the FDI net level in the country of one of the G20 countries, such as Saudi Arabia.
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2022-12-19
How to Cite
Prachmasetiawan, F., Usman, B., Erza, O., Harmaini, H., & Syofriza Syofyan. (2022). THE EFFECT OF GOVERNANCE AND SHADOW ECONOMY ON FDI IN G-20 COUNTRIES (2002-2015). Ecosia International Conference, 177-198. https://doi.org/10.32815/ecosia.vi.18
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Copyright (c) 2022 Syofriza Syofyan, Fayota Prachmasetiawan, Osni Erza
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