Analisis Keterkaitan Capital Flight dan Cadangan Devisa : Pendekatan Vector Error Correction Model (VECM) di Indonesia

Amiroh Amiroh; Maitsaa Zalfaa; Nadila Nadila; Cep Jandi Anwar; Indra Suhendra

doi:10.30640/ekonomika45.v11i1.1889

Authors

Amiroh Amiroh Universitas Sultan Ageng Tirtayasa
Maitsaa Zalfaa Universitas Sultan Ageng Tirtayasa
Nadila Nadila Universitas Sultan Ageng Tirtayasa
Cep Jandi Anwar Universitas Sultan Ageng Tirtayasa
Indra Suhendra Universitas Sultan Ageng Tirtayasa

DOI:

https://doi.org/10.30640/ekonomika45.v11i1.1889

Keywords:

Capital Flight, Foreign Exchange Reserves, VECM

Abstract

This study examines the relationship and response to shocks between capital flight and foreign exchange reserves in Indonesia for the 2018-2022 period. This study uses VECM (Vector Error Correction Model) model analysis, aimed at seeing the relationship between capital flight and foreign debt variables and trade balance to Indonesia's foreign exchange reserves. The results of the analysis that have been carried out show that the variable of foreign debt does not affect and is irrelevant to Indonesia's foreign exchange reserves in the long and short term. Meanwhile, trade balance variables affect and are relevant to Indonesia's foreign exchange reserves in the long and short term.

References

Arianto, B. (2014). KAJIAN CAPITAL FLIGHT DI INDONESIA. Majalah Ekonomi, 18(2), 1-12.

Marbun, T. (2006). Analisis Faktor-faktor yang Mempengaruhi Capital Flight Di Indonesia (Doctoral dissertation, Universitas Sumatera Utara).

Prameswari, M., Indrawati, L. R., & Laut, L. T. (2019). Analisis Pengaruh Utang Negeri, Kurs Dollar, Dan Inflasi Terhadap Cadangan Devisa Indonesia Tahun 2008-2017. DINAMIC: Directory Journal of Economic, 1(4), 457-466.

Rangkuty, D. M., & Hidayat, M. (2021). Does Foreign Debt have an Impact on Indonesia's Foreign Exchange Reserves?. Ekuilibrium: Jurnal Ilmiah Bidang Ilmu Ekonomi, 16(1), 85-93.

Tambunan, K. F., & Fauzie, S. (2015). Pengaruh Capital Inflow Dan Capital Outflow Di Indonesia Terhadap Nilai Tukar Rupiah. Ekonomi dan Keuangan, 2(5).

Daengs, G. S. A., Istanti, E., Negoro, R. M. B. K., & Sanusi, R. (2020). The Aftermath of Management Action on Competitive Advantage Through Proccess Attributes at Food and Beverage Industries Export Import in Perak Harbor of Surabaya. International Journal Of Criminology and Sociologi, 9, 1418–1425

Enny Istanti1), Bramastyo Kusumo2) ,I.N.(2020).IMPLEMENTASI HARGA,KUALITAS PELAYANAN DAN PEMBELIAN BERULANG PADA PENJUALAN PRODUK GAMIS AFIFATHIN. Ekonomika 45, 8(1), 1–10

Iwa Soemantri, Asep et al. 2020. Entrepreneurship Orientation Strategy, Market Orientation And Its Effect On Business Performance In MSMEs. Jurnal EKSPEKTRA Unitomo Vol. IV No. 1, Hal. 1-10