Analisis Pengaruh Stabilitas Nilai Tukar dan Cadangan Devisa terhadap Foreign Direct Investment (FDI) Amerika
DOI:
https://doi.org/10.31004/riggs.v5i2.4025Keywords:
FDI, Nilai Tukar, Cadangan Devisa, Investasi Asing, Ekonomi MakroAbstract
Penelitian ini bertujuan menganalisis pengaruh stabilitas nilai tukar dan cadangan devisa terhadap Foreign Direct Investment (FDI) Amerika Serikat di Indonesia selama periode 2005–2024. Penelitian menggunakan pendekatan kuantitatif dengan data sekunder tahunan yang bersumber dari Bank Indonesia dan Badan Pusat Statistik. Analisis dilakukan melalui regresi linier berganda menggunakan perangkat lunak EViews, disertai uji normalitas, multikolinearitas, heteroskedastisitas, dan autokorelasi untuk memastikan kelayakan model. Variabel dependen penelitian adalah nilai investasi langsung Amerika Serikat, sedangkan nilai tukar rupiah terhadap dolar Amerika dan cadangan devisa digunakan sebagai variabel independen. Hasil pengujian menunjukkan bahwa nilai tukar memiliki koefisien positif sebesar 0,003305, tetapi tidak berpengaruh signifikan terhadap FDI Amerika Serikat karena nilai probabilitasnya sebesar 0,9814. Sebaliknya, cadangan devisa memiliki koefisien positif sebesar 0,038657 dan berpengaruh signifikan dengan nilai probabilitas 0,0008. Secara simultan, nilai tukar dan cadangan devisa berpengaruh signifikan terhadap FDI, sebagaimana ditunjukkan oleh nilai Prob(F-statistic) sebesar 0,000013. Nilai R-squared sebesar 0,734163 menunjukkan bahwa kedua variabel mampu menjelaskan 73,42% variasi FDI, sedangkan 26,58% sisanya dipengaruhi oleh faktor lain di luar model. Temuan penelitian mengindikasikan bahwa investor Amerika Serikat tidak menjadikan perubahan nilai tukar sebagai pertimbangan utama, sementara kekuatan cadangan devisa berperan penting dalam membangun kepercayaan terhadap ketahanan ekonomi Indonesia. Implikasi penelitian menekankan pentingnya kebijakan ekonomi makro yang menjaga dan memperkuat cadangan devisa untuk meningkatkan daya tarik investasi asing secara berkelanjutan.
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