Muhammad Refo Sayuti, Ichsan Ichsan, Khairil Anwar
Abstract
This study aims to determine the short run and long-run effects of foreign exchange reserves, exports, and the dollar exchange rate on the foreign debts of Indonesia. This study uses time-series data during 1994-2020. The study employs the Autoregressive Distributed Lag (ARDL) approach with the help of Eviews 9. The results in the short-run equation model showed that the foreign exchange reserve had a positive and significant effect on the foreign debts of Indonesia, while exports and the exchange rate dollar has a positive but insignificant effect on the foreign debts of Indonesia. In the long run, the foreign exchange reserves and exports has a negative and insignificant effect on the foreign debts of Indonesia, while the dollar exchange rate has a positive but insignificant effect on Indonesia's foreign debt.
Keywords
Foreign Debt, Foreign Exchange Reserves, Export, Dollar Exchange, ARDL Approach
Arikunto, S. (2010). Research Procedures A Practical Approach. Jakarta: Rineka Cipta.
Astanti, A. (2015). Causality Analysis Between Foreign Debt and Indonesia's Economic Growth in 1990-2013. Economics and Development Studies.
Cyrillus Harinowo. (2002). Government Debt: Development, Prospects and Management.Jakarta: Issuer of PT Gramedia.
Ekananda, M. (2015). International economy.Jakarta: Erlangga.
Gujarati, D., & Porter, D. (2009). Basic Econometics Mc Graw-Hill Internasional Edition. Jakarta: Erlangga.
Gujarati, & Porter. (2012). The Basics of Econometrics. Edition Five. Jakarta: Selemba
Ibrahim, Dkk. (2019). Effect of Rupiah Exchange Rate, Inflation and Economic Growth on Indonesia's External Debt in 2000-2017. Journal of Economics. Vol. 3, No. 2.
Kuncoro, M. (2007). Quantitative Methods: Theory and Application for Business and Economics, Third Edition. In Jakarta: Erlangga
Article Metrics
Abstract Views : 369 times
PDF Downloaded : 92 times
