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Journal : Economics Development Analysis Journal

International Trade Activities as Drivers of Economic Growth: Macro Conditions Goestjahjanti, Francisca Sestri; Novitasari, Dewiana; Rahmawati
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.4114

Abstract

Global economic growth has hovered around 2-3% over the past decade, resulting in stagnant GDP growth for Indonesia at approximately 5%. This research aims to analyze the effects of macroeconomic conditions, specifically money supply (M2), foreign debt, and international trade activities, on Indonesia's GDP growth from 1994 to 2023. Utilizing a linear regression method with 30 observations, the study finds significant impacts of the independent variables on GDP growth. M2 influences GDP growth by 93%, foreign debt by 76.6%, and net exports by 92.3%. Simultaneously, changes in these variables explain 93.7% of the variation in Indonesia's GDP. The theoretical foundation of this research is built upon previous studies on economic growth and macroeconomic factors, emphasizing the role of monetary policy, debt management, and export diversification. The findings indicate that the careful management of M2 is critical to fostering investment and consumption, while excessive reliance on foreign debt may hamper long-term growth. Non-oil and gas exports significantly contribute to GDP, underscoring the importance of export diversification. The study concludes that these macroeconomic factors are vital for sustainable economic growth and improving welfare in Indonesia, and recommends policy interventions to optimize their effects.
Co-Authors Ade saputra Adiyanto , Adiyanto Adiyanto Adiyanto Agustian, Wahid Rahmat Ahadi, Ahadi Alfi, Muhammad amungkas, Panca Deni P Anwar, Moh Nuril Anwar, Moh. Nuril Asbari, Masduki Asmarulloh, Muhamamad Alfin Bambang Pujiasmanto Bangun Napitupulu, Bonar Jeppri Basuki, Sucipto Budiadnyana, Gusti Nyoman Budiadyana, Gusti Nyoman Cahya Kumoro, Dwi Ferdiyatmoko Cahya Kumoro, Dwi Ferdyatmoko Cristine, Ervana Dedi Gunawan Djuminah Djuminah, Djuminah Efriani, Betharia eka , Henry antonius Erick Fernando B311087192 Ervana, Ervana Fahira, Dea Farhan, Akhmad Fayzhall, Miyv Haniyah, Haniyah Hartoko, Sri Hasna, Shoftwatun Hasna, Shofwatun Hermawati, Lusi Hikam, Ihsan Nuril Himmy'azz, Istajib KUlla Himmy'azz, Istajib Kulla Kulla Himmy’azz, Istajib Kulla Himmy”™azz, Istajib Kulla Hutagalung, Dhaniel Ida Jubaedah Imeliyanti, Eka Indrawati, Dwi Risqiani Indrawati, Dwi Rizqiani Irfan Anshori, Rizki JAINURI, JAINURI Johan Johan Joseph, Corina Ak Karnawi Kamar, Karnawi Karyono Karyono Khairudin Khairudin Kulla Himmy'azz, Istajib Kulla Himmyázz, Istajib Kulla, Istajib Kumoro, Dwi Ferdi Cahya Kumoro, Dwi Ferdiyatmoko Cahya Luthfian, Muhammad Marusaha, Tiardo Jonathan Mawarida, Apriliani Mendrofa, Yeremia Mulyati Mulyati Napitupulu, Bonar Bangun Jeppri Nathalie, Julia Nia Kurniawati Nofiyanti Nofiyanti, Nofiyanti Novitasari, Dewiana Nugraha, Raka Kusuma Nurasiah Nurasiah Nurasiah Nurhayati Nurhayati Nuri, Wiyono Nurul Badriyah Olin, Maria Novita Pebrina, Erni Taruli Pujiasmoro, Bambang Purno, Marhaendro Purwaningrum, Dwi Putriani, RDN Dwi Rahmawati Rahmawati, Rahmawati Ramadani, Tia Riyantao, Joko Riyanto Riyanto Sahadah, Dewi Nelly Samsi Samsi Santi, Neta Mirda Setyani, Ika Silitongga, Nelson Singgih, Eman Siti Arifah Siti Maesaroh Siti Nurlaela Sitorus, Santa Lusianna Soenarto Soenarto Solaeman, Deny Solaiman, Deny Sopyan, Dedi Sri Lestari Sri Mulyati Srinita, Srinita Sudiyono, Yusuf Sukriyah, Sukriyah Sunarto, Rintis Mardika Supiana, Nana Supriyanti, Dedeh Supriyanto Supriyanto Suseno, Bayu Suwita, Jaka Tiara, Beby Trisolvena, Muhammad Nana Umiyati, Hesti Widjaja, Andree E. widjaja, henry antonius eka Wihardjo, Mikael Tjokro WINANTI, WINANTI Wiyono, Nuri Yaafi, Naufal Yoga Prihastomo Yulia, Yayah Yusuf Yusuf