FAKTOR – FAKTOR PENENTU PENGALOKASIANBELANJA MODAL DI INDONESIA: STUDI ANALISIS META

This research try to investigate the determinants of capital expenditures in Indonesia with nine years data from
published articles and still a working paper in Indonesia. The purpose of this research is to investigate the
relationship between local original income (PAD), general allocation funds (DAU), special allocation funds
(DAK), shared funds (DBH), Economic Growth, SiLPA, Regional Financial Independence, Effectiveness of
Local Finance, Financial Dependence, Degree of BUMD Contributions, degree of decentralization, personnel
expenditures and wide of region to capital expenditure allocation. This research applies meta-analysis
technique developed by Huntel et al. (1982) of 55 articles were collected from 2007 until 2015 obtained 35
articles that met the criteria as samples for purpose of cumulating and integrating a cross studies. This research
shows that special allocation funds (DAK), SiLPA, Regional Financial Independence, Effectiveness of Local
Finance, Financial Dependence and personnel expenditures are the factors which significantly influence the
capital expenditures. Meanwhile, local original income (PAD), general allocation funds (DAU), shared funds
(DBH), Economic Growth, Efficiency Regional Finance, Degrees of BUMD Contributions, Degree of
Decentralization and Regional Area are found to be not significantly influence the capital expenditures. Thus,
there are six factors that found to be the determinant of capital expenditures.