PENGARUH FAKTOR MAKROEKONOMI TERHADAP FLUKTUASI NILAI TUKAR DI KAWASAN ASIA TENGGARA PERIODE 2005-2014
Abstract Views:
106 times
PDF - FULL TEXT Downloads:
93 times
Abstract
Intisari - Dalam beberapa periode terakhir nilai tukar menjadi salah satu tolak ukur kemajuan perekonomian negara. Akan tetapi, nilai tukar juga dipengaruhi oleh faktor makroekonomi yang mengakibatkan terjadinya fluktuasi nilai tukar. Penelitian ini dilakukan untuk mendapatkan pemahaman tentang pengaruh faktor makroekonomi terhadap nilai tukar di kawasan Asia Tenggara periode 2005 – 2014. Metode Fixed Effect menjadi metode yang paling cocok mewakili data. Hasil analisis dari penelitian ini menunjukkan bahwa dari semua faktor makroekonomi, hanya faktor ekspor yang memberikan pengaruh positif terhadap nilai tukar dibandingkan dengan faktor tingkat suku bunga, tingkat inflasi dan impor yang memberikan pengaruh negatif terhadap nilai tukar.
Kata kunci: Nilai Tukar, Ekspor, Tingkat Suku Bunga, Tingkat Inflasi, Impor, Fixed Effect.
Abstract - In recent period exchange rate has become one of the benchmarks from country’s economic progress. However, exchange rate is also affected by macroeconomic factors and it can influence fluctuations of exchange rate. This research was conducted to gain an understanding of the effect of macroeconomic factors on exchange rate in Southeast Asian countries period 2005 – 2014. Fixed effect method becomes the most compatible method to representing data. The result of the analysis is show that from all macroeconomic factors just only export factors that give a positive effect on exchange rate when the other factors gives a negative effect on exchange rate.
Key Words: Exchange Rate, Export, Interest Rate, Inflation Rate, Import, Fixed Effect.
Downloads
References
Timotius, Kris H. 2016. Pengantar Metodologi Penelitian : Pendekatan Manajemen Pengetahuan Untuk Pengembangan Pengetahuan.
Wooldridge, Jeffry M. 2013. Correlated Random Effcets Models with Unbalanced Panels, East Lansing, United States.
Ojo, Ade T, Philip O. 2014. Exchange Rate Fluctuations and Macroeconomic Performance in Sub-Saharan Africa : A Dinamic Panel Cointegration Analysis, Nigeria.
Chaudhary, Ghulam Mujtaba et al. 2016. Exchange Rate and Foreign Trade : A Comparatice Study of Major South Asian and South-East Asian Countries, Pakistan.
Ramasamy, Ravidran. 2015. Influence of Mcroeconomic Variables on Exchange Rates, Journal of Economics, Business and Management, India.
Kandir, Serkan Yilmaz. 2008. Macroeconomic Variables, Firm Characteristics and Stock Return : Evidence from Turkey.
Mohd Abdoh, Wan Mohd Yaseer et al. 2016. Macroeconomic Factors That Influence Exchange Rate Fluctuation in Asean Countries, International Academic Research Journal of Social Science, Malaysia.
Schmidheiny, Kurt. 2013. Panel Data : Fixed and Random Effects, Short Guides to Microeconometrics, Universitas Basel.
Achsani, Noer Azam et al. 2010. The Relationship Between Inflation and Teal Exchange Rate : Comparative Study between ASEAN+3, The EU and North America, European Journal of Economics, Finance and Administrative Sciences, Indonesia.
World Bank. 2018. World Develompent Indicators. (http://databank.worldbank.org/data/reports.aspx?source=worlddevelopment-indicators).
Falah, Bayyina Zidni et al. 2016. Model Regresi Data Panel Simultan dengan Variabel Indeks Harga yang Diterima dan yang Dibayar Petani, Universitas Diponegoro.
Ali, Tariq Mahmood et al. 2015. Impact of Interest Rate, Inflation and Money Supply on Exchange Rate Volatility in Pakistan, Pakistan.
Mirchandani, Anita. 2013. Analysis of Macroeconomic Determinants of Exchange Rate Volatility in India, Dubai.
Khan, Raja Sher Ali. 2014. Analysis if The Factors Affecting Exchange Rate Variability in Pakistan, Islamabad.
Alotaibi, Khaled. 2016. How Exchange Rate Infuence a Country’s Import and Export. International Journal of Scientific and Engineering Research, Volume 7.
Ghani, Ahmad Bashawir Abdul et al. 2017. International Journal of Economics and Financial Issues, Malaysia.
Mulyadi, Mohammad. 2011. Penelitian Kuantitatif fan Kualitatif serta Pemikiran Dasar Menggabungkannya. Jurnal Studi Komunikasi dan Media, Volume 15.
- Articles published in CALYPTRA are licensed under a Creative Commons Attribution-ShareAlike 4.0 International license. You are free to copy, transform, or redistribute articles for any lawful purpose in any medium, provided you give appropriate credit to the original author(s) and the journal, link to the license, indicate if changes were made, and redistribute any derivative work under the same license.
- Copyright on articles is retained by the respective author(s), without restrictions. A non-exclusive license is granted to CALYPTRA to publish the article and identify itself as its original publisher, along with the commercial right to include the article in a hardcopy issue for sale to libraries and individuals.
- By publishing in CALYPTRA, authors grant any third party the right to use their article to the extent provided by the Creative Commons Attribution-ShareAlike 4.0 International license.
