Relationship between monetary policy, fiscal, country risk and macroeconomic variable in Indonesia

Ahmad Albar Tanjung; Saad Afifuddin; Murni Daulay; Dede Ruslan

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Relationship between monetary policy, fiscal, country risk and macroeconomic variable in Indonesia

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Ahmad Albar Tanjung, Saad Afifuddin, Murni Daulay, Dede Ruslan

2017 International Journal of Economic Research Vol. 14 Issue 15 Article Cited by 5 SDG 8

Abstract

This study is to analyze the relationship of monetary policy, fiscal and country risk on macroeconomic variable in Indonesia. The data used are secondary data from World Bank, BPS, and Indonesia Bank from 1980 to 2014. The estimation method used is error correction model. The study shows that monetary policy which is proxied with the amount of money supply has positive and significant impact on economic growth, while fiscal policy has insignificant impact on inflation, and country risk has significant impact on interest rate and then on inflation. © Serials Publication Pvt. Ltd.

Affiliations

Faculty of Economy and Business, Universitas Sumatera Utara, Jl. Prof. Hanafiah, Padang Bulan, Medan Baru, Medan, North Sumatera, 20155, Indonesia; Faculty of Economy State University of Medan, Jalan Willem Iskandar, Pasar V Medan Estate Kotak Pos 1589 Medan 2022, North-Sumatera, Indonesia

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