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All Journal INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE
Zet Abdullah
STIPSI Widya Dharma, Indonesia
Economics, Econometrics & Finance

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ANALYSIS OF THE IMPACT OF MONETARY POLICY AND TRANSMISSION MECHANISMS ON ECONOMIC GROWTH IN INDONESIA: AN EMPIRICAL APPROACH USING VAR (VECTOR AUTOREGRESSION) MODEL Loso Judianto; Caroline Caroline; Ahmad Rizani; Umar Kholil Lubis; Zet Abdullah
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 1 No. 2 (2023): November
Publisher : Adisam Publisher

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Abstract

This research investigates the intricate relationship between monetary policy, transmission mechanisms, and economic growth in Indonesia using an empirical approach employing the Vector Autoregression (VAR) model. In the ever-evolving landscape of global economics, the role of monetary policy in promoting stability and growth is pivotal, especially for emerging economies like Indonesia. The study delves into the specific context of Indonesia, a country that has experienced periods of economic growth amid challenges such as fluctuating inflation rates, exchange rates, and external shocks. The research explores how the central bank, Bank Indonesia, employs monetary policy tools to navigate these challenges and assesses the impact of these policies on the nation's economic growth. Furthermore, it examines the transmission mechanisms propagating these effects, including interest rates, exchange rates, and bank lending. It also scrutinizes the presence of time lags, the magnitude and direction of these effects, and the influence of external factors. The findings of this study are expected to have significant implications for policymakers, central banks, investors, and the broader academic community. Understanding monetary policy dynamics in a globalized world marked by economic volatility is critical for making informed policy decisions.
Co-Authors Ahmad Rizani Caroline Caroline Loso Judianto Umar Kholil