Analisis Dampak Kebijakan Moneter terhadap Pertumbuhan Ekonomi di Indonesia
Abstract
The circuit of government monetary policy which is still uncertain in influencing economic growth is an interesting phenomenon to be examined, especially because it occurs in the era of globalization where monetary traffic is very rapid, the situation is the main problem in this study. Therefore, this study aims to determine the impact of monetary policy on economic growth in Indonesia using quantitative analysis methods. The type of data used is secondary data in the form of Time Series originating from the Central Statistics Agency, Bank Indonesia, and the Ministry of Trade from 2010 to 2019 in the form of quarterly. Based on the results of testing the determination of the analysis tool model shows that the right estimation model is Vector Auto Regression (VAR). The results of this study indicate that money supply has a significant relationship to economic growth. While interest rates, exchange rates, and inflation do not have a significant relationship to economic growth
Keywords
Full Text:
PDFReferences
Ahmad, A., Ahmad, N., & Ali, S. (2013). Exchange rate and economic growth in Pakistan (1975-2011). Ahmad, Arslan, Najid Ahmad, and Sharafat Ali." Exchange Rate and Economic Growth in Pakistan (1975-2011)."(2013), 740-746.
Ali, K., Sari, D. R., & Putri, R. (2019). Pengaruh Inflasi Nilai Tukar Rupiah Dan Harga Emas Dunia Terhadap Indeks Harga Saham Pertambangan PadaBursa Efek Indonesia (Periode Tahun 2016-2018). Jurnal Bisnis Darmajaya, 5(2), 90-113.
Adeniran, J. O., Yusuf, S. A., & Adeyemi, O. A. (2014). The impact of exchange rate fluctuation on the Nigerian economic growth: An empirical investigation. International journal of Academic Research in Business and Social sciences, 4(8): 224.
Asnawi, A., & Fitria, H. (2018). PENGARUH JUMLAH UANG BEREDAR, TINGKAT SUKU BUNGA DAN INFLASI TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA. Ekonomika Indonesia, 7(01), 24-32.
Etale, L. M., & Ayunku, P. E. (2016). The relationship between interest rate and economic growth in Nigeria: An Error Correction Model (ECM) approach. International Journal of Economics and Financial Research, 2(6), 127-131.
Fakhri, H. (2011). Relationship between inflation and economic growth in Azerbaijani economy: is there any threshold effect?. Asian Journal of Business and Management Sciences, 1(1), 1-11.
Hidayat, A. S., Suman, A., & Kaluge, D. (2014). The Effect of Interest Rate, Inflation and Government Expenditure on Economic Growth in Indonesia Period of 2005-2012. Journal of Economics and Sustainable Development, 5(15), 243-9.
Ilmi, M. F. (2017). Pengaruh Kurs/Nilai Tukar Rupiah, Inflasi dan Tingkat Suku Bunga SBI Terhadap Indeks Harga Saham Gabungan LQ-45 Periode Tahun 2009-2013. Nominal: Barometer Riset Akuntansi dan Manajemen, 6(1), 93-108.
Kemenkeu RI. (2018). https://www.kemenkeu.go.id/. Diambil Kembali Dari Kemenkeu: https://www.kemenkeu.go.id/Publikasi/Artikel-Dan- Opini/Kebijakan-Fiskal-Kaitannya-Dengan-Pertumbuhan-Ekonomi-Indonesia/
Lubis, I. F. (2014). Analisis Hubungan Antara Inflasi dan Pertumbuhan Ekonomi: Kasus Indonesia. Quantitative Economics Journal, 3(1).
Mahzalena, Y., & Juliansyah, H. (2019). Pengaruh inflasi, pengeluaran pemerintah dan ekspor terhadap pertumbuhan ekonomi di Indonesia. Jurnal Ekonomi Regional Unimal, 2(1): 37-50.
Nofitasari, R., Amir, A., & Mustika, C. (2017). Pengaruh inflasi, suku bunga, investasi terhadap pertumbuhan ekonomi Provinsi Jambi. e-Jurnal Perspektif Ekonomi dan Pembangunan Daerah, 6(2), 77-84.
Nugroho, B. S. (2014). Pertumbuhan ekonomi dan ketimpangan pendapatan antar kecamatan. JEJAK: Jurnal Ekonomi dan Kebijakan, 7(1), 46-59.
Nurrohim, M. (2013). Analisis Kausalitas Volatilitas Nilai Tukar Mata Uang Dengan Kinerja Sektor Keuangan Dan Sektor Rill. Economics Development Analysis Journal, 2(4).
Nwoko, N. M., Ihemeje, J. C., & Anumadu, E. (2016). The impact of monetary policy on the economic growth of Nigeria. African Research Review, 10(3): 192-206.
Putri, V. K., & Rosyetti, R. (2017). Analisis Pengaruh Jumlah Uang Beredar, Suku Bunga Sertifikat Bank Indonesia dan Suku Bunga Kredit Investasi terhadap Inflasi di Indonesia (Doctoral dissertation, Riau University).
Salim, J. F. (2018). Pengaruh Kebijakan Moneter terhadap Pertumbuhan Ekonomi di Indonesia. Jurnal Ekombis, 3(2).
Sari, G. A. A. R. M., & Baskara, I. G. K. (2018). Pengaruh Pertumbuhan Ekonomi, Suku Bunga, dan Nilai Tukar terhadap Investasi Asing Langsung di Indonesia (Doctoral dissertation, Udayana University).
Sari, M., & Sulistianingsih, E. (2019). Model Koreksi Kesalahan (ECM) pada Kasus Data Runtun Waktu Indeks Harga Konsumen di Jawa Tengah. Bimaster, 8(1).
Saridawati, S. (2015). Analisis Peran Kebijakan Moneter Bank Indonesia (BI) Rate terhadap Nilai Tukar US Dolar dan Inflasi. Moneter-Jurnal Akuntansi Dan Keuangan, 2(2).
Sean, M. (2019). The Impact of Monetary Policy on Economic Growth in Cambodia: Bayesian Approach. Journal of Management, Economics, and Industrial Organization, 16-34.
Selimi, N., Reçi, K., & Sadiku, L. (2016). The Impact of Foreign Direct Investment on the Export Performance: Empirical Evidence for Western Balkan Countries. ILIRIA International Review, 6(1).
Septiatin, A. A., Mawardi, M. M., & Rizki, M. A. K. (2016). Pengaruh Inflasi dan Tingkat Pengangguran Terhadap Pertumbuhan Ekonomi Di Indonesia. I-Economics: A Research Journal On Islamic Economics, 2(1), 50-65.
Tiwa, F. R. (2016). Pengaruh Investasi, Suku Bunga Sertifikat Bank Indonesia (Sbi) Dan Jumlah Uang Beredar Terhadap Pertumbuhan Ekonomi Indonesia Tahun 2005-2014. Jurnal Berkala Ilmiah Efisiensi, 16(2).
Ufoeze, L. O., Odimgbe, S. O., Ezeabalisi, V. N., & Alajekwu, U. B. (2018). Effect of monetary policy on economic growth in Nigeria: An empirical investigation. Annals of Spiru Haret University, Economic Series, 9(1), 123-140.
Utami, S. R., & Suryaningsih, R. (2011). Analisis Pengaruh Narrow Money (M1) Dan Broad Money (M2) Terhadap Laju Inflasi Di Indonesia. Ultimaccounting: Jurnal Ilmu Akuntansi, 3(1), 33-45.
Warjiyo, P. (2006). Stabilitas sistem perbankan dan kebijakan moneter: keterkaitan dan perkembangannya di Indonesia. Buletin Ekonomi Moneter dan Perbankan, 8(4): 429-454.
DOI: http://dx.doi.org/10.33087/jmas.v6i1.216
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
J-MAS (Jurnal Manajemen dan Sains) Published by Master of Management Program, Faculty of Economics, Batanghari University |