Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002
The objective of this study was to examine the empirical relationship between finan¬cial and international trade liberalisation and long-run growth by using bank credit to the private sector as an indicator of financial liberalisation, and export plus import values as an indicator of international t...
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| Format: | Article |
| Language: | English |
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Universitas Islam Indonesia
2009-07-01
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| Series: | Economic Journal of Emerging Markets |
| Online Access: | https://journal.uii.ac.id/JEP/article/view/603 |
| _version_ | 1811332191905382400 |
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| author | Rini Dwi Astuti |
| author_facet | Rini Dwi Astuti |
| author_sort | Rini Dwi Astuti |
| collection | DOAJ |
| description | The objective of this study was to examine the empirical relationship between finan¬cial and international trade liberalisation and long-run growth by using bank credit to the private sector as an indicator of financial liberalisation, and export plus import values as an indicator of international trade liberalisation. It argues that these indicators have a clear advantage over economic growth in Indonesia during 1970-2002. This study applies the en¬dogenous growth model and error correction model. It explores the joint impact of both fi¬nancial and international trade liberalisation and the impact of investment in physical and human capital on the growth of real income. The main findings are as follows: First, in short run, the study finds its measure of international liberalisation, physical and human capital investment to have a significantly positive effect on the economic growth, and it measure of financial liberalisation has no significantly positive effect on the economic growth. Second, in long run, except human capital investment, it finds the impact of physical capital invest¬ment, financial and international trade liberalisation on economic growth to be consistent with long-run growth theory.
Keywords: Endogenous Economic Growth; Financial and International Trade Liberalisa¬tion; Error Correction Model.
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| first_indexed | 2024-04-13T16:33:13Z |
| format | Article |
| id | doaj.art-2baaab1f059b4d3faef17502e4012747 |
| institution | Directory Open Access Journal |
| issn | 2086-3128 2502-180X |
| language | English |
| last_indexed | 2024-04-13T16:33:13Z |
| publishDate | 2009-07-01 |
| publisher | Universitas Islam Indonesia |
| record_format | Article |
| series | Economic Journal of Emerging Markets |
| spelling | doaj.art-2baaab1f059b4d3faef17502e40127472022-12-22T02:39:31ZengUniversitas Islam IndonesiaEconomic Journal of Emerging Markets2086-31282502-180X2009-07-01101Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002Rini Dwi AstutiThe objective of this study was to examine the empirical relationship between finan¬cial and international trade liberalisation and long-run growth by using bank credit to the private sector as an indicator of financial liberalisation, and export plus import values as an indicator of international trade liberalisation. It argues that these indicators have a clear advantage over economic growth in Indonesia during 1970-2002. This study applies the en¬dogenous growth model and error correction model. It explores the joint impact of both fi¬nancial and international trade liberalisation and the impact of investment in physical and human capital on the growth of real income. The main findings are as follows: First, in short run, the study finds its measure of international liberalisation, physical and human capital investment to have a significantly positive effect on the economic growth, and it measure of financial liberalisation has no significantly positive effect on the economic growth. Second, in long run, except human capital investment, it finds the impact of physical capital invest¬ment, financial and international trade liberalisation on economic growth to be consistent with long-run growth theory. Keywords: Endogenous Economic Growth; Financial and International Trade Liberalisa¬tion; Error Correction Model. https://journal.uii.ac.id/JEP/article/view/603 |
| spellingShingle | Rini Dwi Astuti Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002 Economic Journal of Emerging Markets |
| title | Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002 |
| title_full | Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002 |
| title_fullStr | Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002 |
| title_full_unstemmed | Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002 |
| title_short | Dampak Liberalisasi Keuangan dan Perdagangan Internasional Terhadap Pertumbuhan Ekonomi Indonesia 1970-2002 |
| title_sort | dampak liberalisasi keuangan dan perdagangan internasional terhadap pertumbuhan ekonomi indonesia 1970 2002 |
| url | https://journal.uii.ac.id/JEP/article/view/603 |
| work_keys_str_mv | AT rinidwiastuti dampakliberalisasikeuangandanperdaganganinternasionalterhadappertumbuhanekonomiindonesia19702002 |