ANALISIS PERILAKU INSTABILITAS PEREKONOMIAN INDONESIA: PENDEKATAN KETERKAITAN EKONOMI MAKRO, PERDAGANGAN INTERNASIONAL DAN SEKTOR PERTANIAN

  • Andi Irawan
  • Perry Warjiyo

Abstract

In general the aim of this study is  to investigate short-run relationships among macroeconomy, international trade and agriculture in Indonesia. Under such circumstances, the specific goals of this research is to analyze whicheconomic blocks that have most affected by instability, as well as producing instability in the economy.

We apply the Vector Error Correction Model on monthly series data from 1993:01 to 2002:12. The main resultof this study shows asfollow: 1) that the asset financial and the commodity demand blocks the most producing instability in the economy. On the other hand, the export block producing the least instability to the economy. The finding suggest that government should concentrate attention on asset financial andthe commodity demand blocks in stabilizing the economy, as they are major sources of instability of the economy.

2) To stabilize the commodity demand, it is also necessary to stabilize the financial market, as the assets demand block is the most contributor of the instability in the commodity demand block. In other words, money demand is the main source of instability. Because money supply is determined bygovernment, the disequlibrium error measure the excess supply of money in the market. This suggest that monetary policy that reduces the disequlibrium error can help stabilize the economy.

JEL Classification: C22, F17, Q11, Q18

Keyword: Instabilitas,  Disequilibrium Error,  perdagangan internasional, pertanian, VECM, fiscal policy

Downloads

Download data is not yet available.

References

Beck, M and P. Winker. 2004. Modeling Spillover and Feedback of International Trade in a DisequilibriumError Framework. Economic Modeling, 21:445-470.

Feridhanusetyawan, T and M. Pangestu. 2004. Indonesia in Crisis: A Macroeconomic Persepective.Economic Working Paper Series. http://www.csis.or.id/paper/wpe074

Irawan, A. 2005. Analisis Perilaku Instabilitas , Pergerakan Harga, Employmentdan Investasi di dalamSektor Pertanian Indonesia: Aplikasi Vector Error Correction Model. Buletin Ekonomi Moneter dan Perbankan 8(3):79-115

Irawan, A. 2004. Komoditas Pertanian Indonesia. Target Ekspor dan Hambatan Sisi Permintaan dan Penawaran. Agrimedia 9 (2):45-50.

Sugema, I. 1992. The Dynamic of Macroeconomy-Trade-Agriculture Linkages in The Australian Economy:An Application ofError Correction Model to Cointegrated Relation Ship. The University of New England. Thesis S2. Department of Agricultural Economic and Business Management, New England.

Supriana, T.2004. Dampak Guncangan Struktural terhadap Fluktuasi Ekonomimakro Indonesia: Suatu Kajian Business Cycle Dari Sisi Permintaan. Disertasi S3 Sekolah Pascasarjana, Institut Pertanian Bogor, Bogor.

Zaini, A. 2003. Peranan Sektor Pertanian Sebelumdan Pada Masa Krisis Ekonomi di Indonesia: PendekatanSistem Neraca Sosial Ekonomi. Tesis S2 Sekolah Pascasarjana, InstitutPertanian Bogor, Bogor.
Published
2007-02-13
How to Cite
Irawan, A., & Warjiyo, P. (2007). ANALISIS PERILAKU INSTABILITAS PEREKONOMIAN INDONESIA: PENDEKATAN KETERKAITAN EKONOMI MAKRO, PERDAGANGAN INTERNASIONAL DAN SEKTOR PERTANIAN. Buletin Ekonomi Moneter Dan Perbankan, 8(3), 1-43. https://doi.org/10.21098/bemp.v8i3.137
Section
Articles

Most read articles by the same author(s)

1 2 > >>