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THE IMPACT OF GOLD PRICE FLUCTUATIONS ON INDONESIA’S ECONOMIC GROWTH: THE ROLE OF INFLATION, EXCHANGE RATE, AND INVESTMENT Murti Widyaningsih; Adi Nugroho; Rika Kaniati; Ahmad Kurnia Ibrahim
INQUISITIVE : International Journal of Economic Vol. 6 No. 2 (2026): June
Publisher : Fakultas Ekonomi dan Bisnis Universitas Pancasila

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65179/Inquisitive.2026.10007

Abstract

This study examines the impact of gold prices on economic growth in Indonesia by incorporating inflation, exchange rate, and investment (Gross Fixed Capital Formation) as intervening variables. Using annual time series data from 2010 to 2025, the analysis applies the Autoregressive Distributed Lag (ARDL) approach to capture both short-run and long-run dynamics among the variables.The empirical results indicate the existence of a long-run equilibrium relationship among gold prices, inflation, exchange rate, investment, and economic growth. In both the short and long run, gold prices exhibit a statistically significant negative effect on economic growth. This suggests that rising gold prices tend to reduce economic performance throughthe reallocation of capital from productive sectors to safe-haven assets.Inflation and exchange rate depreciation are also found to negatively influence economic growth, while investment contributes positively and significantly to economic expansion. Furthermore, the results reveal that the effect of gold prices on economic growth operates not only directly but also indirectly through inflation, exchange rate, and investment channels, with investment identified as the strongest transmission mechanism.Overall, the findings highlight that the macroeconomic impact of gold prices is structurally mediated and highly dependent on investment behavior in emerging economies such as Indonesia.
MENDORONG KEWIRAUSAHAAN GEN Z DENGAN MENGOPTIMALKAN SOSIAL MEDIA M. Nuruddin Subhan; Bintang Andhyka; Petiana Indriati; Adi Nugroho; Chaerani Nisa; Murti Widyaningsih; Riska Yustisiana; Kurnia Herniansyah; Shan Nemuel Andres; Nathanel Ephraim
Jurnal Pengabdian Pendidikan Masyarakat (JPPM) Vol 5 No 1 (2024): Jurnal Pengabdian Pendidikan Masyarakat (JPPM) Vol 5 No 1 (2024)
Publisher : LPPM UNIVERSITAS MUHAMMADIYAH MUARA BUNGO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52060/jppm.v5i1.1865

Abstract

Cultivating an entrepreneurial mindset from a young age might inspire youths to pursue entrepreneurship. Introducing the entrepreneurial spirit is crucial for high school students. You are expected to have a business plan ready to be implemented when you become an undergraduate student. Faculty of Economics and Business at Pancasila University (FEB UP) mandates its academics to engage in community service as part of their responsibilities. One type of service involves fostering an entrepreneurial mindset through social interaction. FEB UP lecturers conduct entrepreneurship outreach lectures to help high school students understand entrepreneurship. The seminar activities indicate a strong interest in the entrepreneurial profession.