Analisis faktor-faktor yang mempengaruhi investasi swasta di daerah Maluku = Analysis of Factors Affecting Private Investment in Maluku

Over the last two decades, the Indonesian government has attracted investors to do business in Indonesia under the PMDN (domestic investment) and PMA (foreign investment) scheme projects. Through a series of deregulatory measures and debureaucratization, the government has continued to create a favourable climate for investment. The purpose of this recent policy is to encourage national economic growth. This research aims to analyze the effect of the Regional Gross Domestic Product, the average interest rates and laborforce, as well as the 1st June 1983 Monetary Policy on private investments (under the PMA and PMDN). The research was carried cout in Maluku for the period of 1975-1992, based on relevant economic theory. The estimated model adopted in this study was one of the recently developed models (called dynamic llinier models) such as the Partial Adjustment Model (PAM) and the Error Correction Model (ECM). The research findings indicate that, in short and longs terms, the Regional Gross Domestic Product can account for the positive variation of private investments in Maluku, whereas the average interest rates can not. Different from the two variables above, labor force can only account for the variation of investments has indicated a positive development. In line with the afore-mentioned findings, it is proposed that (1) there should be training of human resources in order to bridge the gap between the supply of and demand for laborforce(2) there should be government control over the average interest rate at acertain level through a monetary policy which does not lay a heavy burdem on the business circle(3) there should be an improvement in infrastructure, i.e., facilites and resourcess such as piers/seaports, airpots, roads, bridges means of communication and transportation in the potential regencies and islands. Key words: Partial Adjustment Model (PAM), Error Correlation Model (ECM