Faktor-faktor Penentu Pelaburan Swasta di Malaysia : Satu Kajian Empirikal

This study attempts to identify the macroeconomics variables which influence private investment in Malaysia. The time frame for this research is from the year 1970 until 2001. From the data collected, it is proven that the volume of private investment in our country is increasing except in the year 1998. In this study, seven macroeconomics variables have been chosen as the independent variables. They are real interest rate (INTR), per capita gross domestic product (GDPK), GDP growth rate (GDPD) inflation rate (INFL), government investment (INVG), foreign direct investment (FDI) used to identify factors influencing private investment in Malaysia is estimated using the Maximum Likelihood (ML) procedure. The study finds that foreign direct investment is the most important factor that influence private investment in Malaysia. In addition, there are three other independent variables that have a statistically significant relationship with the private investment. They are (1) lagged private investment (INVSLAGI), (2) government investment (INVG and (3) government investment that includes multiplier effect (INVGX). This study concluded that all the independent variables have a positive relationship with the private investment except the government investment