Anis Nurul Laili
Fakultas Ekonomi dan Bisnis, Universitas Trunojoyo Madura

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Analisis Pengaruh Neraca Perdagangan, Suku Bunga dan Arus Modal Masuk terhadap Nilai Tukar Rupiah di Indonesia Anis Nurul Laili; Diah Wahyuningsih
Jurnal Ekonomi Akuntansi dan Manajemen Vol 21 No 2 (2022)
Publisher : Universitas Jember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19184/jeam.v21i2.33642

Abstract

The purpose of this study was to determine the effect of trade balance, interest rates and capital inflows on the rupiah exchange rate. The data used is time series data or time series in the form of years, namely from 1987 to 2019. This study uses a quantitative approach by using the error correction model (ECM) estimation method. The data analysis techniques used include: data stationarity test, cointegration test, estimation of short-term and long-term ECM, and classical assumption test. And the results obtained in this study are that in the long term the trade balance variable has a positive and significant effect on the rupiah exchange rate, interest rates have a positive and significant effect on the rupiah exchange rate. FDI has a positive and significant effect on the rupiah exchange rate and PFI has no effect on the rupiah exchange rate balance. While in the short term, the trade balance variable has a positive and significant effect on the rupiah exchange rate, interest rates have a positive and significant effect on the rupiah exchange rate, FDI has no significant effect on the rupiah exchange rate and FPI has no effect on the rupiah exchange rate. Keywords: Error Correction Model, Foreign Direct Investment, Portfolio Foreign Investment, Interest Rate, Exchange Rate, Trade Balance