DETERMINAN CADANGAN DEVISA INDONESIA

Ana Aufa Azelia, . (2025) DETERMINAN CADANGAN DEVISA INDONESIA. Skripsi thesis, Universitas Pembangunan Nasional Veteran Jakarta.

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Abstract

This study aims to analyze the impact of exchange rates, interest rates, gross domestic product (GDP), trade balance, and Volatility Index (VIX) on Indonesia's foreign exchange reserves during the 1993–2023 period. Foreign exchange reserves are a critical component in maintaining macroeconomic stability, especially in the face of global economic pressures. Using the Error Correction Model (ECM) method, this research explores the dynamic relationships between these macroeconomic variables in both the short and long term. The findings reveal that exchange rates and GDP have a significant positive influence on foreign exchange reserves in the long term, reflecting the contribution of export competitiveness and economic growth to reserve accumulation. However, in the short term, exchange rates show no significant impact. Conversely, interest rates, trade balance, and VIX do not significantly affect foreign exchange reserves in either the short or long term. These results highlight the complexities of economic policy management amid global uncertainties. This study contributes theoretically to understanding the relationship between macroeconomic variables and foreign exchange reserves through the lens of monetarism theory. Additionally, the findings provide practical insights for policymakers in formulating strategies to maintain economic stability through effective foreign exchange reserve management.

Item Type:	Thesis (Skripsi)
Additional Information:	[No. Panggil: 2110115087] [Pembimbing & Penguji 2: Desmintari] [Ketua Penguji: Aswin Rivai] [Penguji 1: Achmad Nur Hidayat]
Uncontrolled Keywords:	Error Correction Model (ECM), Exchange Rate, Foreign Exchange Reserves, Interest Rate, GDP, Trade balance, Volatility Index (VIX).
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions
Divisions:	Fakultas Ekonomi dan Bisnis > Program Studi Ekonomi Pembangunan (S1)
Depositing User:	ANA AUFA AZELIA
Date Deposited:	11 Feb 2025 07:08
Last Modified:	11 Feb 2025 07:08
URI:	http://repository.upnvj.ac.id/id/eprint/35238

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