Başkan Jokowi Dodo döneminde dış borç, yatırım ve emtia ihracatının Endonezya'nın GSYH'sine etkisi

This study explores how external debt, foreign direct investment (FDI), and commodity exports have influenced Indonesia's Gross Domestic Product (GDP) during the presidency of Joko Widodo, covering the years 2014 to 2024. This period has been characterized by a noticeable increase in external borrowing, growing inflows of foreign investment, and a renewed emphasis on downstreaming policies, especially in the export of key commodities like nickel. The analysis is based on secondary data drawn primarily from Bank Indonesia's SEKI (Indonesian Economic and Financial Statistics), along with additional sources such as books, academic journals, and related publications. To investigate the relationships among the variables, the Autoregressive Distributed Lag (ARDL) model was employed. The results show that FDI has no significant effect on GDP in either the short or long term. On the other hand, both external debt and commodity exports demonstrate a strong and positive relationship with economic growth. These findings suggest that Indonesia's economy continues to rely heavily on debt and export performance as its main engines of growth.