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All Journal JURNAL DINAMIKA EKONOMI PEMBANGUNAN Diponegoro Journal of Economics Jurnal Organisasi Dan Manajemen
Maruto Umar Basuki
Fakultas Ekonomika Dan Bisnis Universitas Diponegoro Semarang
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Journal : Jurnal Organisasi Dan Manajemen

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DAMPAK KEBIJAKAN FISKAL DAN MONETER DALAM PEREKONOMIAN INDONESIA: APLIKASI MODEL MUNDELL-FLEMING Teguh Santoso; Maruto Umar Basuki
Jurnal Organisasi dan Manajemen Vol. 5 No. 2 (2009)
Publisher : LPPM Universitas Terbuka

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (215.756 KB) | DOI: 10.33830/jom.v5i2.250.2009

Abstract

This study aims to analysis the impact of fiscal and monetary policy in Indonesian economy by using Mundell Fleming (IS-LM-BOP) model. The main objective of this paper is to see the impact of fiscal and monetary policy to Indonesia Gross Domestic Product (GDP). Indonesia as a small open economy with imperfectly capital mobility, so temporary thesis of the Mundell-Fleming model is that monetary policy more effective than fiscal policy in improving of the GDP, that caused by its crowding out effect yielded from expansive\ fiscal policy. A variant of the Mundell Fleming model for the Indonesian economy is constructed and analysed using the Two Stage Least Square Methods (2sls). The result of two stage least square estimation indicating that the impact of monetary policy with money supply(M2) instrument is more effective in improving GDP than fiscal policy with government expenditure instrument . This result is proved with influences which are positive and significant among money supply (M2) variable and GDP from demand side. However, goverment expenditure variables give positive effect but not significant to the GDP. These finding support the Hypothesis of model Mundell-Fleming
Co-Authors Hanif Salsabila Lindung Wicaksono Adha Mokhamad Fuad Fadilah Surya Arga Purnama Teguh Santoso Teguh Santoso