p-Index From 2021 - 2026
11.423
P-Index
This Author published in this journals
All Journal Jurnal Sosio Ekonomika Bisnis Ekonomi Bisnis Niagawan Jurnal Tematik Quantitative Economics Journal International Journal of Artificial Intelligence Research Jurnal Masharif al-Syariah: Jurnal Ekonomi dan Perbankan Syariah Jurnal Inovasi Bisnis (Inovbiz) JURNAL MUQODDIMAH : Jurnal Ilmu Sosial, Politik dan Hummaniora LIABILITIES (JURNAL PENDIDIKAN AKUNTANSI) Pendas : Jurnah Ilmiah Pendidikan Dasar Jurnal Pendidikan Sejarah dan Riset Sosial Humaniora (KAGANGA) Martabe : Jurnal Pengabdian Kepada Masyarakat NUSANTARA : Jurnal Ilmu Pengetahuan Sosial IKRA-ITH EKONOMIKA GEMA EKONOMI Jurnal Samudra Ekonomi dan Bisnis JCRS (Journal of Community Research and Service) ECOPLAN : JOURNAL OF ECONOMICS AND DEVELOPMENT STUDIES International Journal of Financial, Accounting, and Management Jurnal Ilmiah Edunomika (JIE) ENTITA: Jurnal Pendidikan Ilmu Pengetahuan Sosial dan Ilmu-Ilmu Sosial JATI EMAS (Jurnal Aplikasi Teknik dan Pengabdian Masyarakat) Jurnal Paedagogy Didaktik : Jurnal Ilmiah PGSD STKIP Subang BUDGETING : Journal of Business, Management and Accounting Budapest International Research and Critics in Linguistics and Education Journal (Birle Journal) Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences JURNAL PENDIDIKAN SAINS SOSIAL DAN AGAMA Jurnal Pengabdian UNDIKMA Jurnal Abdimas Ilmiah Citra Bakti (JAICB) Multicience Jurnal Kependidikan: Jurnal Hasil Penelitian dan Kajian Kepustakaan di Bidang Pendidikan, Pengajaran dan Pembelajaran Jurnal Ekonomi Bisnis, Manajemen dan Akuntansi (JEBMA) Jurnal Ilmiah Teunuleh: The International Journal of Social Sciences International Journal of Educational Review, Law And Social Sciences (IJERLAS) International Journal of Social Science, Educational, Economics, Agriculture Research, and Technology (IJSET) Jurnal Bina Bangsa Ekonomika East Asian Journal of Multidisciplinary Research (EAJMR) AKADEMIK: Jurnal Mahasiswa Ekonomi & Bisnis AKADEMIK: Jurnal Mahasiswa Humanis Economic Reviews Journal JURNAL AGROTEKNOSAINS Journal of Social Studies, Arts and Humanities (JSSAH) Journal of International Conference Proceedings EKONOMIKA SYARIAH : Journal of Economic Studies Aurelia: Jurnal Penelitian dan Pengabdian Masyarakat Indonesia Journal of Artificial Intelligence and Digital Business Jurnal Pengabdian West Science International Journal of Economic, Technology and Social Sciences (Injects) Riwayat: Educational Journal of History and Humanities Journal of Management Accounting, Tax and Production IIJSE SENSEI INTERNATIONAL JOURNAL OF EDUCATION AND LINGUISTICS (SIJEL) Economic: Journal Economic and Business Journal of Intelligent Systems and Information Technology Indonesian Journal of Innovation Multidisipliner Research Jurnal Cendekia Ilmiah Journal of Business Inflation Management and Accounting Jurnal Abdimas Ilmiah Citra Bakti
Claim Missing Document
Check
Articles

Found 1 Documents
Search

GEOPOLITICAL RISK AND MACROECONOMIC VARIABLES ON RUPIAH EXCHANGE RATE DYNAMICS IN INDONESIA: EVIDENCE FROM 2020-2025 Meuthia Nurul Soraya; Dede Ruslan; Eko Wahyu Nugrahadi
International Journal of Social Science, Educational, Economics, Agriculture Research and Technology (IJSET) Vol. 5 No. 8 (2026): JULY
Publisher : RADJA PUBLIKA

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study analyzes the effect of geopolitical risk and macroeconomic variables on the dynamics of the rupiah exchange rate in Indonesia during 2020-2025. The variables comprise the rupiah exchange rate, geopolitical risk, inflation, interest rate, world oil price, and foreign exchange reserves. Monthly secondary data were examined using the Vector Error Correction Model (VECM), supported by the Phillips-Perron unit root test, optimal lag selection, VAR stability test, Johansen cointegration test, Impulse Response Function (IRF), Forecast Error Variance Decomposition (FEVD), and Block Exogeneity Wald Test. The findings show two cointegrating relationships, indicating a long-run equilibrium among the variables. In the short run, geopolitical risk significantly affects rupiah exchange rate dynamics. In the long run, inflation, interest rate, world oil price, and foreign exchange reserves are associated with the rupiah exchange rate. IRF results indicate that geopolitical risk shocks initially generate a negative response, then a positive response, before gradually stabilizing. FEVD results show that in the tenth period, rupiah exchange rate variation is mainly explained by its own shock (71.52%), followed by geopolitical risk (14.01%) and world oil price (12.81%).
Co-Authors , Miftah El Fikri , Rahmad Sembiring Ade Firmansyah Tanjung Ade Novalina Adhani, Nadia Agel Agel Ahmad Albar Tanjung Ahmad Hidayat Aisyah Afrilia Aisyah Khalilah Sinaga Akmalia, Uswatul Alda Letare Natalia Amadeus Sitompul, Gabriel Amalia*, Amalia Andri Zainal Anestesia Situmorang Angelia, Tina Angin, Sutejo Perangin Anita Yus Annisa Ilmi Faried Annisa Putri, Dian Annisa Suci Lestari Apira, Nadia Aqiila, Rifka Arif Rahman Arwansyah Arwansyah Ayu Angelina Pasaribu* Bahar, Andi Bakara, Sarah Boangmanalu, Eka Putra Dairi Cantika Cantika Chairina Rizkianda Chana Ronada Silaban Choms Gary Ganda Tua Sibarani Cindy Febryana Munthe Dedi Irawan Denisa Anggia Siagian Siagian Diani, Salma Dini Vientiany Dodi Pramana Dwi Nur Indah Sari, Dwi Nur Indah Eko Wahyu Nugrahadi Erika Artha Yulia Br Saragih Ester Ester Faisal Faisal Faisar Ananda Arfa Faried, Annisa Ilmi Fitrahwaty, Fitrahwaty Fitrawaty Fitrawaty Fitrawaty Fitri Aprilliana Gary Ganda Tua Sibarani, Choms Ginting, Melly Andriani Gulo, Ahmad Jumadin Handani, Tia Handayani, Utami Hanif Hulu, M. Rizki Hanu, La Harahap, Misna Doharni Haris Suwondo Haryadi Haryadi Haryani Pratiwi Sitompul Hasibuan, Alawi Parlindungan Hidayah Rambe, Nurul Hombing, Eva Ulina Br Hotmauli Gultom Hutabarat, Febri Br Icha Riska Gloria Nainggolan Ika Swantika Ilma Aisy Karima Indra Maipita Indriana Dachi Insani, Kemala Irsad Irsad Irsad Lubis Irsad, Irsad Ismul Fakhri Lubis Jabal Ahsan Joys Octaviyani Sitohang Juanda Maulana Juzilam, Siro Kaiesa Raihatul Muntaza Khairani Alawiyah Khairuddin E. Tambunan Khairul Akbar Kiki Hardiansyah Siregar Kustoro Budiarta Lenti Susanna Saragih Leri L Sembiring Linda Sari, Raina Listhavia Febryana Simbolon Lora Theresia Lubis, Eliza Handayani Lubis, Rizky Amelia Zahrah Lukman, Mena Fadilia Manalu, Maria Elpida Margaretha Sembiring Marpaung, Rita Boima Purnamasari Maulana, Juanda Maya Andriani Maya Wulandari Merry Christmessya Silalahi Meuthia Nurul Soraya Muhammad Habib Syakier Muhammad Yusuf Muntaza, Kaiesa Raihatul Murni Daulay Murni Daulay Musthafa, Iffan Nabila Farisa Ardani Saragih Nainggolan*, Lya Novaria Nainggolan, Icha Riska Gloria Nasution, Adanan Murroh Nasution, Hardini Pazriati Natasya Aura Putri Nazwa Putri Khaila Ndona, Yakobus Niwson Sitanggang Nofinawati Noni Rozaini Nur Afrianti Nurul Azmi Nusavel I Tampubolon Ona Herpina Purba Paidi Hidayat Paidi Paidi Parangin Angin, Sutejo Pardede, Erni Rugun Maria Parulian, Daniel Dohar Pasaribu, Ayu Angelina Pasaribu, Mangatas Pebri Hastuti Permadi, Mei Yusmansyah Pohan, Hafni Putri Nabila Br Bancin Ragatna Berutu, Saiful Rahmad Sembiring Rahmadana, Muhammad Fitri Rahmadsyah, Agus Rahmi, Siti Naila Raina Linda Sari Ramdhansyah Ramdhansyah Ramli Nur Ramli Ramli RANI EPITA YK Riang Tri Putri Buulolo Rike Elisabet Limbong Rina Rina Rini Herliani Rita Handayani Rita Handayani, Rita Ronny Sitanggang Sabda Dian Nurani Siahaan Samuel E Hutajulu Saragih, Lenti Susanna Sari Jusnita Br Ginting Sari, Rania Linda SARONOM SILABAN Sekar Ayudya Sufi Sembiring, Margaretha Siahaan, Karin Sarah Angelina Siahaan, Sabda Dian Nurani Sibarani, Choms Gary Ganda Tua Sihihab, Muhammad Wahyu Sijabat, Lastri Putri BR Silalahi, Bungaran Simamora, Enjelika Simanihuruk, Darto Paulus Simanjuntak, Mery Kristiani Simanjuntak, Yosua Simanungkalit, Jelita Siregar, Kiki Hardiansyah Siregar, Tianovida Siro Juzilam Sirojuzilam Hasyim Sitanggang, Niwson Sonya Labella Sihombing Sri Yunita Sriadhi Sriadhi Sriwedari, Tuti Sugiharto Sugiharto Sukardi Sukardi Sumarno . Sundari, Emi Surya Dharma Sutejo Perangin Angin Syabina Dwi Malika Syafi’i, M. Syafina Rambe, Dhea Nita Syafi’i, M. Thohiri, Roza Timotea Lenta Sitinjak Tio Magdalena Sarumpaet, Juliarta Ulgari, Siti Valeryn Rhea Thalia Tambunan Vidiani Br Sembiring Viola R Malau Wahyu Ario Pratomo Wati, Fidia Weny Nurwendari Weya, Ince Widya Utari Yamani, Raisa Yani, Ayu Syah Fitri Yarina Seprianti Simamora Yohana I C Siahaan Yosua Simanjuntak Zahirah Husnah Zendrato, Feronika Zuhri, Muhammad Ilham