Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002
Some economists have argued that there is no relationship between external debt and capital flight, while others have detected such a relation. Boyce and Ndikumana (2002) distinguish four possible causal links such as, debt-driven capital flight, debt fueled capital flight, flight-driven capital fli...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Universitas Islam Indonesia
2009-07-01
|
| Series: | Economic Journal of Emerging Markets |
| Online Access: | https://journal.uii.ac.id/JEP/article/view/614 |
| _version_ | 1811332188668428288 |
|---|---|
| author | Dini Yuniarti |
| author_facet | Dini Yuniarti |
| author_sort | Dini Yuniarti |
| collection | DOAJ |
| description | Some economists have argued that there is no relationship between external debt and capital flight, while others have detected such a relation. Boyce and Ndikumana (2002) distinguish four possible causal links such as, debt-driven capital flight, debt fueled capital flight, flight-driven capital flight, and flight fueled external borrowing.
The study examines a causal relationship between external debt and capital flight of Indonesia for the period 1974-2002. We use error correction model to examine a causal rela¬tionship. We find external debt related to capital flight on Indonesia as a feedback/bilateral causality. This empirical evidence supports the debt fueled capital flight and flight fueled external borrowing hypothesis.
Keywords: causal relationship, external debt, capital flight
|
| first_indexed | 2024-04-13T16:33:07Z |
| format | Article |
| id | doaj.art-1be3219f12184438aafb76dbcabbe25a |
| institution | Directory Open Access Journal |
| issn | 2086-3128 2502-180X |
| language | English |
| last_indexed | 2024-04-13T16:33:07Z |
| publishDate | 2009-07-01 |
| publisher | Universitas Islam Indonesia |
| record_format | Article |
| series | Economic Journal of Emerging Markets |
| spelling | doaj.art-1be3219f12184438aafb76dbcabbe25a2022-12-22T02:39:31ZengUniversitas Islam IndonesiaEconomic Journal of Emerging Markets2086-31282502-180X2009-07-01103Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002Dini YuniartiSome economists have argued that there is no relationship between external debt and capital flight, while others have detected such a relation. Boyce and Ndikumana (2002) distinguish four possible causal links such as, debt-driven capital flight, debt fueled capital flight, flight-driven capital flight, and flight fueled external borrowing. The study examines a causal relationship between external debt and capital flight of Indonesia for the period 1974-2002. We use error correction model to examine a causal rela¬tionship. We find external debt related to capital flight on Indonesia as a feedback/bilateral causality. This empirical evidence supports the debt fueled capital flight and flight fueled external borrowing hypothesis. Keywords: causal relationship, external debt, capital flight https://journal.uii.ac.id/JEP/article/view/614 |
| spellingShingle | Dini Yuniarti Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002 Economic Journal of Emerging Markets |
| title | Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002 |
| title_full | Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002 |
| title_fullStr | Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002 |
| title_full_unstemmed | Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002 |
| title_short | Uji Kausalitas : Utang Luar Negeri dan Capital Flight di Indonesia, 1974-2002 |
| title_sort | uji kausalitas utang luar negeri dan capital flight di indonesia 1974 2002 |
| url | https://journal.uii.ac.id/JEP/article/view/614 |
| work_keys_str_mv | AT diniyuniarti ujikausalitasutangluarnegeridancapitalflightdiindonesia19742002 |