The Impact of Foreign Direct Investment on Small and Medium-Sized Enterprises: The Case of Indonesia

SEKAR AYU A, Dr. A.A. Erumban

2021 | Skripsi | S1 MANAJEMEN

Sejak awal 1980-an, pentingnya penanaman modal asing (PMA) dalam memacu pertumbuhan dan pembangunan ekonomi mulai disadari. Pada awal tahun 2000-an, dunia mengalami pertumbuhan yang jauh lebih cepat setelah China memutuskan untuk bergabung dengan World Trade Organization (Boden, 2012). Sejak saat itu, negara-negara berkembang mulai menjadi tujuan investasi yang menarik karena created assets-nya (IMF, 2001). Banyak perhatian telah diberikan pada dampak PMA terhadap pertumbuhan negara-negara berkembang, termasuk Indonesia. Namun, hanya sedikit penelitian tentang bagaimana PMA memengaruhi usaha kecil dan menengah (UKM), yang merupakan kontributor utama pertumbuhan ekonomi Indonesia. Studi ini melihat peran PMA dalam menentukan kinerja UKM di Indonesia. Selanjutnya, efek moderasi dari kapasitas penyerapan teknologi juga dinilai. Penelitian ini mengontrol pengaruh kepadatan penduduk, pengeluaran pemerintah, dan kredit sektor perbankan terhadap UKM. Hasil penelitian menunjukkan bahwa terdapat hubungan positif antara PMA dengan produktivitas tenaga kerja UKM, sedangkan terdapat hubungan negatif antara PMA dengan pangsa lapangan kerja UKM. Terakhir, penelitian ini tidak menemukan bukti bahwa kapasitas penyerapan teknologi memengaruhi dampak PMA terhadap kinerja UKM.

Since the early 1980s, the importance of foreign direct investment (FDI) in spurring economic growth and development has been recognized. In the early 2000s, the world experienced a significantly faster growth after China decided to join the World Trade Organization (Boden, 2012). Since then, developing countries started to become attractive investment destinations due to its created assets (IMF, 2001). Much attention has been drawn to the impact of FDI on the growth of developing countries, including Indonesia. However, there are only few studies of how FDI affects the small and medium-sized enterprises (SMEs), which are the major contributors to the economic growth of Indonesia. This study looks into the roles of FDI in determining the performance of SMEs in Indonesia. Furthermore, the moderating effect of technology-absorptive capacity is also assessed. In doing so, the study controls for the effect of population density, government expenditure, and banking sector credit to SMEs. The results show that there is a positive relationship between FDI and the labor productivity of SMEs, while there is a negative relationship between FDI and the share of employment of SMEs. Lastly, this study found no evidence that the technology-absorptive capacity affects the impact of FDI on the performance of SMEs.

Kata Kunci : Foreign Direct Investment, Indonesia, Small and Medium-Sized Enterprises, Technology-Absorptive Capacity, Population Density, Government Expenditure, Banking Sector Credit, Labor Productivity, Employment