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All Journal JDEP (Jurnal Dinamika Ekonomi Pembangunan)
Ullya Vidriza
Fakultas Ekonomi dan Bisnis, UPN Veteran Jakarta
Economics, Econometrics & Finance

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Peran Perkembangan Sektor Keuangan terhadap Industrialisasi di Indonesia Hari Setia Putra; Shaghi Ratu Sa’bani; Syifa Ananda; Ullya Vidriza
JDEP (Jurnal Dinamika Ekonomi Pembangunan) Vol 4 No 2 (2021): JDEP (Jurnal Dinamika Ekonomi Pembangunan)
Publisher : Prodi Ekonomi Pembangunan FEB Universitas Pembangunan Nasional "Veteran" Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (297.839 KB) | DOI: 10.33005/jdep.v4i2.308

Abstract

The aim of this research is to analyze the impact of financial development in industrialization in Indonesia for the period 1990 to 2019 using time series data. The data used are ratio of broad money to GDP, ratio of domestic credit to private sector to GDP, and interest rate spread. The results of the pairwise granger causality test in the VECM analysis phase prove that there is a one-way relationship beetwen domestic credit to private sector ratio with broad money ratio and broad money ratio with interest spread rate. Meanwhile, the interest spread rate and domestic credit to private sector ratio have a two-way relationship. Impulse response results show that the industry value added ratio responds most to interest spread rate shocks compared to other variables. Variance decomposition results show that the contribution given by interest spread rate to the industry value added ratio is relatively the largest compared to the contribution given by broad money ratio and domestic credit to private sector ratio.
Co-Authors Hari Setia Putra Shaghi Ratu Sa’bani Syifa Ananda