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All Journal EKOMBIS REVIEW: Jurnal Ilmiah Ekonomi dan Bisnis IJBE (Integrated Journal of Business and Economics) PARETO : Jurnal Ekonomi dan Kebijakan Publik Convergence : The Journal of Economic Development Madani : Indonesian Journal of Civil Society Proceedings of Bengkulu International Conference on Economics, Management, Business, and Accounting
Yefriza Yefriza
Jurusan Ekonomi Pembangunan Fakultas Ekonomi Dan Bisnis Universitas Bengkulu
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Environmental Science Social Sciences Other

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Journal : IJBE (Integrated Journal of Business and Economics)

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Effectiveness of Monetary Policy in Indonesia Esti Pasaribu; Retno Agustina Ekaputri; Yefriza Yefriza
Integrated Journal of Business and Economics (IJBE) Vol 7, No 2 (2023): Integrated Journal of Business and Economics
Publisher : Fakultas Ekonomi, Universitas Bangka Belitung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33019/ijbe.v7i2.645

Abstract

This research investigated the effectiveness of the monetary policy in Indonesia. A cumulative summary test was used to determine the response of economic growth to monetary policy between 1990-2020. Furthermore, the data on gross national income, money supply, inflation, exchange rate, and interest rate was processed using error correction model regression. The results showed that monetary policy improved economic growth through channels of inflation and money supply, and the correlation was strong and valid both in the short and long term. The correlation of exchange rate and interest rate to economic growth was also observed to be significant only in the long term. The four variables had a significant, simultaneous effect on Indonesia's GDP. Therefore, the government needs to pay special attention to the enactment of monetary policy.
Co-Authors Antoni Sitorus Ekaputri, Retno Agustina Esti Pasaribu Lizar Alfansi Mutiara Rizki Utami Richardo Simanjuntak Teguh Dwiarsyah Try Beta Anggraini