Muslim, Irwan
Jurnal Menara Ekonomi : Pelatihan dan Kajian Ilmiah Bidang Ekonomi

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LONG-TERM RELATIONSHIPS OF MACROECONOMIC VARIABLES ON INDONESIAN FOREIGN EXCHANGE RESERVES Antoni, Antoni; Akmal, Akmal; Muslim, Irwan
MENARA EKONOMI Vol 5, No 2 (2019): Vol V No. 2 April 2019
Publisher : Jurnal Menara Ekonomi : Pelatihan dan Kajian Ilmiah Bidang Ekonomi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33559/me.v5i2.1384

Abstract

This study aims to prove the long-term relationship of variable  onomics to Indonesia's foreign exchange reserves. The data used in this study for 24 years began from 1995 to 2018 using the Error Correction Model (ECM) method. The results of this study indicate that in the short and long term exports and foreign debt have a positive and significant relationship with foreign exchange reserves. The rupiah exchange rate has a negative and significant relationship in the short term, but in the long run has a positiverelationship. Foreign investment has a negative and insignificant relationship in the short term and a positive and insignificant relationship in the long run.Keywords: Foreign exchange reserves, exports, rupiah exchange rate, foreign debt and foreign investment.