KUALITAS INSTITUSI, EKONOMI HIJAU, DAN ARUS MASUK FOREIGN DIRECT INVESTMENT: BUKTI EMPIRIS DI NEGARA-NEGARA OKI

Muhammad Adnan Azzaki, NIM.: 21300011020 (2024) KUALITAS INSTITUSI, EKONOMI HIJAU, DAN ARUS MASUK FOREIGN DIRECT INVESTMENT: BUKTI EMPIRIS DI NEGARA-NEGARA OKI. Doctoral thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

This research aims to examine the role of institutional quality and the green economy on Foreign Direct Investment (FDI) with financial development as a moderating variable. This research model uses independent variables in the form of Voice and Accountability, Control of Corruption, Political Stability and Absence of Violence/Terrorism, Government Effectiveness, Regulatory Quality, and Rule of Law as a proxy for institutional quality and regulatory environment variables; natural resources; and human capital as a proxy for the green economy. The objects of this research are the 32 member countries of the Organization of Islamic Cooperation (OIC) during the 2010-2020 period. The analytical tool used in this research is the MRA Panel Data model, which is estimated using the GMM approach. Control variables are used in the form of population, economic openness, and global competitiveness index to expand the analysis. From statistical testing, this research found that most indicators of institutional quality have a positive effect on Foreign Direct Investment in OIC countries, in contrast to the control of corruption and voice accountability variables, which show the opposite results. This indicates that the problem of corruption in OIC countries is relatively high, and freedom of speech and the level of democracy are relatively low. Furthermore, the green economy variable as a whole has a positive effect on Foreign Direct Investment in OIC countries. These results provide an illustration of the potential for resource management, which can create benefits for the investment climate in OIC countries. The results of the moderation test show that financial development moderates the influence of institutional quality and the green economy on Foreign Direct Investment. Financial development can be an effective moderator for the government in increasing the inflow of Foreign Direct Investment in OIC countries. These findings show that investors can consider investing in countries with good-quality institutions and green economic conditions. For policymakers, it is very relevant to improve performance through improvements in government governance, facilitating financial system stability, and regulations regarding commitment to accelerating green economic transformation as a whole.

Item Type: Thesis (Doctoral)
Additional Information: Promotor I: Prof. Dr. Ibnu Qizam, SE., MSi., Ak., CA dan Promotor II: Dr. Abdul Qoyum, S.E.I., M.Sc. Fin.
Uncontrolled Keywords: foreign direct investment; institutional quality; green economy; financial development
Subjects: Ekonomi Islam
Divisions: Pascasarjana > Disertasi > Ekonomi Syariah
Depositing User: Muchti Nurhidaya [muchti.nurhidaya@uin-suka.ac.id]
Date Deposited: 01 Apr 2024 12:30
Last Modified: 01 Apr 2024 12:30
URI: http://digilib.uin-suka.ac.id/id/eprint/64612

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