Abstract
The aim of this study is to analyse the impact of tax rate on Japanese FDI in ASEAN4, Cina, and Korea. Using panel data from four ASEAN countries (Indonesia, Malaysia, the Philippines, Thailand) plus China and Korea; and from year 1990 up to 2003, Japan FDI in those six countries were regressed with tax rate, population, GDP per capita, degree of openness, and exchange rate. The result shows that statutory tax rate, population, and exchange rate have a negative influence toward Japan FDI in ASEAN4, China, and Korea; whereas GDP per capita and degree of economic openness have positive influence toward Japan FDI in those respective countries. The most responsive variables toward the Japan FDI in those six countries are, consecutively, population, degree of economic openness, statutory tax rate, GDP per capita, and exchange rate. Among all independent variables, only population is elastic while the others four are inelastic.
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