Analysis of Factors Affecting Foreign Exchange Reserves in Indonesia (2017-2021), index

Suripto, Suripto (2023) Analysis of Factors Affecting Foreign Exchange Reserves in Indonesia (2017-2021), index. [Artikel Dosen]

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Abstract

ABSTRACT
This study aims to see the factors that affect foreign exchange reserves in Indonesia. The data is monthly time series data, starting from January 2017 to December 2021. Data is obtained from Bank Indonesia and the Central Bureau of Statistics. The purpose of this study is to determine how the influence of exchange rates, exports, BI rate, and consumer price index on foreign exchange reserves in Indonesia. The analysis tool is VECM (Vector Error Correction Model). The research finding is that the Consumer Price Index has a significant positive influence in the short term. The exchange rate in lag 1 and lag 3 did not have a significant effect, but in lag 2 had a significant negative effect. Export variables have a significant negative influence on all three lags. Bank Indonesia's variable interest rate at lag one and lag 2 has no significant effect, while lag 3 has a significant negative effect on foreign exchange reserves. The implication of this study is the importance of maintaining economic stability from external shocks in the form of rupiah exchange rate shocks because it has a major impact on the stability of foreign exchange reserves.

Item Type:	Artikel Dosen
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions H Social Sciences > HD Industries. Land use. Labor > HD61 Risk Management
Divisi / Prodi:	Faculty of Economics (Fakultas Ekonomi) > S1-Economic Development (S1 Ekonomi Pembangunan)
Depositing User:	Dr. Suripto Suripto
Date Deposited:	05 Feb 2024 01:37
Last Modified:	05 Feb 2024 01:37
URI:	http://eprints.uad.ac.id/id/eprint/55223

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