PENGARUH UTANG LUAR NEGERI, CADANGAN DEVISA, DAN INVESTASI ASING TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA TAHUN 1991-2021

Istiqo Rahayuningsih, Murtala Murtala, Mutia Rahmah

Abstract


This research aims to determine the influence of Foreign Debt, Foreign Exchange Reserves and Foreign Investment on Economic Growth in Indonesia in 1991-2021. This research uses secondary data in the form of a time series for 31 years with the Autoregressive distributed lag (ARDL) test analysis method. The results of this research show that Foreign Debt has a negative and significant effect in the long term and short term on Economic Growth, Foreign Exchange Reserves has a positive and insignificant effect in the short term but in the long term it has a positive and significant effect, while Foreign Investment has no effect in the short term and long-term impact on economic growth in Indonesia. The recommendation in this research is that the government needs to manage foreign debt wisely by considering long-term risks and benefits and ensuring that loans are used for productive investments that can increase economic growth.

Keywords


Foreign Debt,Foreign Exchange Reserves, Foreign Investment and Economic Growth

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DOI: https://doi.org/10.29103/jeru.v6i2.14585

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