THE INFLUENCE OF THE PROPORTION OF ELECTRONIC MONEY, MONEY SUPPLY, EXCHANGE RATE AND BI RATE ON ECONOMIC GROWTH IN INDONESIA IN 2010-2020

Della Juni Anggraini; Sunoto Sunoto

Authors

Della Juni Anggraini Faculty of Economics and Business, Bengkulu University
Sunoto Sunoto Faculty of Economics and Business, Bengkulu University

Keywords:

BI Rate, Electronic Money, Exchange Rate, GDP, Money Supply, VECM

Abstract

The purpose of the study is to determine and analyze the effect of the variable Nominal Proportion of Electronic Money Transactions, Money Supply, Exchange Rates, and BI Rate on economic growth in Indonesia in 2010-2020. The study utilized data in monthly time series from January 2010 to December 2020 where the sample amounted to 120 months. The research model is the Vector Error Correction Model (VECM) and is assisted by EViews 12 software. The results showed that in the long run a relationship was found between the variables of the Nominal Proportion of Electronic Money Transactions, Money Supply, and exchange rates on economic growth. Nominal Proportion of Electronic Money Transactions, and Money Supply have a positive and significant effect on economic growth. While the exchange rate variable in the long term and short term has a significant negative effect on economic growth.

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