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Journal : Jurnal Christian Humaniora

Mengukur Pengaruh Faktor Makro Ekonomi Eksternal dan Internal Terhadap Cadangan Devisa Indonesia Simanullang, Harjona; Dewanto, Fajar Wahyu; Waskito, Bima Aris; Reza, Muhamad; Musroni, Gebriel; Harefa, Yanuarman; Hukom, Alexandra
Jurnal Christian Humaniora Vol 9, No 1 (2025): Mei
Publisher : Institut Agama Kristen Negeri Tarutung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46965/jch.v9i1.2652

Abstract

Global economic uncertainty significantly affects countries with open economic systems. Foreign exchange reserves, as a fundamental indicator of a country's economic stability, must be maintained to ensure that economic activities remain stable amid global economic challenges. This study aims to identify and measure the influence of foreign debt, exports, and imports on Indonesia’s foreign exchange reserves, both simultaneously and partially. The data utilized are secondary data covering the period from 2009 to 2023. The analytical method employed is multiple linear regression analysis. The results of the analysis indicate that foreign debt, exports, and imports collectively have a significant effect on foreign exchange reserves. Partially, foreign debt has a positive and significant influence on foreign exchange reserves, while exports and imports both have a positive but not statistically significant influence. The coefficient of determination (R²) is 0.883411, which implies that 88.34% of the variation in Indonesia’s foreign exchange reserves can be explained by foreign debt, exports, and imports, whereas the remaining 11.66% is influenced by other variables not examined in this study.
Co-Authors A, Niluh Putu Adila Indria Sutrisno, Feby Adji, Fengky Florante Agus Kubertein Ahmad Rizani Ahmad Rizani, Ahmad Ana Lesdiana Andhika Pratama Andrie Elia Angreany, Niluh Putu Beatris, Diana Benius Benius Benius, Benius Betris, Diana Br Ginting, Dhea Anjelita Cristian Zendrato Dedi Takari Dewanto, Fajar Wahyu Dicky Perwira Ompusunggu Doloksaribu, Ayu Lestari Easton, Albert Framita Ester Sigiro Hadifa, Rizki Harefa, Yanuarman Harin Tiawon Hendrik Segah, Hendrik Irawan Irawan Iwan Christian Jajae, Jajae Jeli Susanto Joni Pambelum Juma‘eh Ketaren, Ari Aghinta Komariah, Diah Linstrie Lara Ria M. Ichsan Diarsyad Marbun, Jhon Fery Miar, Miar Milala, Dulihami Br Muhamad Reza Muhammad Reza Munier, Muhammad Taswin Musroni, Gebriel Mutmainah Mutmainah Neneng, Sunaryo Nomeritae, Nomeritae Nopri Kristiawan Nusan, Yahya Pratiwi Subianto Presi Priliani Pungan, Yudi Puput Iswandyah Raysharie Putra S, Ravenalla Abdurrahman Al Hakim Sampurna Rapel Rapel Rima Harati Riza Supian Rosel Rosel Sabirin Sabirin, Sabirin Saprianto, Ringgo Saputra, Indrawan Saragih, Anastasia Saruni Sibatuara, Mandana Silaban, Desi Natalia Silaban, Perdin Simanjuntak, Erika Yohana Simanullang, Harjona Simaremare, Lukman Simbolon, Tiur Roida Sitindaon, Leekyushi Situmorang, Larissa Kristina T.T. Sri Yuni Subianto, Pratiwi Suherman Suluh, Siang I Sunaryo N Tuah Sutrisno, Depy Rizkika Indria Syahriah Syahriah Takari, Dedi Talia, Nana Tambunan, Trifena Bernadenta Tarsis Ronald Parulian Tasya, Tasya Tembalang, Paulus Tiawon, Harin Tobing, Dewanto Vinita, Lesliana Wanda Marlin Waskito, Bima Aris Wiwin Zakiah Yogiantoro, Mukhammad Yulianti, Nina Zakiah, Wiwin Zakiyah, Siti Ilma