Ussa’diyah, Nisa
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PENGARUH KEGIATAN EKONOMI INTERNASIONAL TERHADAP PENINGKATAN CADANGAN DEVISA DI INDONESIA Ussa’diyah, Nisa; Nofrian, Fachru
Journal of Development Economics and Digitalization Vol 2 No 1 (2023): JDED, February 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/jded.v2i1.5734

Abstract

Cadangan devisa dianggap sebagai hal penting dalam negara dan tidak dapat dipisahkan dengan kegiatan ekonomi internasional. Devisa dijadikan sebagai suatu indikator vital untuk membuktikan kekuatan mendasar dalam perekonomian suatu negara. Peningkatan cadangan devisa dipengaruhi beberapa faktor pada kegiatan ekonomi internasional, seperti foreign direct investment, utang luar negeri dan kegiatan ekspor. Tujuan dari penelitian ini untuk mengetahui pengaruh foreign direct investment, utang luar negeri dan ekspor terhadap peningkatan cadangan devisa Indonesia. Data yang digunakan dalam penelitian ini dari tahun 1990 sampai dengan tahun 2021. Error Corection Model (ECM) dipilih sebagai metode dalam penelitian ini. Hasil analisis model menunjukkan jika foreign direct investment memiliki pengaruh signifikan terhadap peningkatan cadangan devisa pada jangka panjang namun pada jangka pendek tidak memiliki pengaruh signifikan dikarenakan investasi asing yang masuk perlu diolah kembali seperti untuk peningkatan produksi dalam negeri sehingga dapat meningkatkan kegiatan perdagangan internasional yang nantinya akan menambah cadangan devisa. Utang luar negeri baik dalam jangka panjang maupun jangka pendek memiliki pengaruh signifikan terhadap peningkatan cadangan devisa, dimana utang luar negeri yang masuk langsung terakumulasi ke APBN serta total cadangan devisa negara. Ekspor pada jangka panjang memiliki pengaruh signifikan terhadap peningkatan cadangan devisa namun pada jangka pendek tidak memiliki pengaruh signifikan dikarenakan hasil yang diperoleh dari kegiatan ekspor juga digunakan dalam pembiayaan impor sehingga pengaruh ekspor tidak dapat dilihat dalam waktu jangka pendek. Foreign exchange reserves for a country are considered important and inseparable from international economic activities. Foreign exchange becomes a vital indicator to prove a fundamental strength in a country's economy. The increase in foreign exchange reserves was influenced by several factors in international economic activities, such as foreign direct investment, external debt and export activities. The purpose of this study is to determine the effect of foreign direct investment, foreign debt and exports on increasing Indonesia's foreign exchange reserves. This research data is from 1990-2021. The Error Corection Model (ECM) was chosen as the method in this study. The results of the model analysis that foreign direct investment has a significant effect on increasing foreign exchange reserves in the long term but in the short term doesn’t have a significant effect because incoming foreign investment needs to be reprocessed, such as to increase domestic production so that it can increase international trade activities which will later increase foreign exchange reserves. Foreign debt in both the long and short term has a significant effect on the increase in foreign exchange reserves, where foreign debt that enters directly accumulates into the state budget as well as the country's total foreign exchange reserves. Exports in the long term have a significant effect on increasing foreign exchange reserves but in the short term don’t have a significant effect because the results obtained from export activities are also used in import financing so that the influence of exports cannot be seen in the short term.
Peran Pinjaman Luar Negeri Dalam APBN Pada Pembiayaan Pembangunan di Indonesia Ussa’diyah, Nisa; Vidriza, Ullya; Sua’idy, Ahmad
Journal of Development Economics and Digitalization Vol 1 No 1 (2022): JDED, August 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59664/jded.v1i1.5363

Abstract

In practice, foreign loans can provide great benefits, especially in their role in financing development, especially in terms of catching up with the Indonesian state among other countries. Indonesia has various potential resources, both natural and human, which are able to support the success of development. Especially in the infrastructure, education and health sectors in an effort to improve the quality of human resources so that they are able to utilize natural resources as well as possible which will later provide full benefits for the survival of the Indonesian people, especially in increasing the Human Development Index (IPM). The government has committed to supporting development by allocating funds to the APBN. However, the great need forced the government to find a solution to cover the lack of financing, among others, by withdrawing foreign loans. This study aims to find out more about the role of foreign loans in the APBN in financing development in Indonesia. The research was conducted using descriptive qualitative methods, where finding answers was carried out through literature study using theory or literature so that it could provide an overview of certain aspects of the population being studied.