10/8/2019 Ekonomi Indonesia Pdf Salvatore
Full Text: PDF. Arsyad Anwar, 1985, Prospek dan Perma-salahan Ekonomi Indonesia 1985-1986, edisi pertama Jakarta. Salvatore, Dominick, 1993, International Economics, fourth edition, New York: MacMillan Publishing Company. Aug 8, 2016 - Rate's Effect toward the Indonesian Economic Growth. Another currency called foreign exchange rates or exchange rates (Salvatore, 2008). Internasional Sebagai salah satu sumber pertumbuhan ekonomi Indonesia.
Abstract These papers analyze the influence of the international reserves and the financial deepening on the real exchange rate stabilization due to the terms of trade shock. The analysis covers 6 countries with quarterly data (Indonesia, United States, Japan, Hong Kong, Singapore and South Korea during the period of 2000.1 to 2006.4). This research utilizes the international reserves mitigation and the financial deepening mitigation model. This result shows that the reserves mitigation terms variable plays important role as the real exchange rate stabilization regarding the terms of trade shock in a common sample, but not in specific country. The mitigation effect associated with international reserves (buffer stock effect) applies only in South Korea.
While for United State and Indonesia mitigation effect associated with international reserves opposite way. Even for Hong Kong, Japan and Singapore, the mitigation effect does not have significant induces real exchange rate stability. Furthermore, the financial deepening mitigation terms variable cannot be treated as the real exchange rate stabilization in a common sample, but not specific country.
The mitigation effect associated with financial deepening (shock absorber effect) applies only in United States and Indonesian economic, while for South Korea the mitigation effect associated with the financial deepening works in opposite way. Even for Hong Kong, Japan and Singapore, the mitigation effect of financial deepening does not have significant induces real exchange rate stability. In Indonesian economic, the financial deepening is more effective than the international reserve to create the real exchange rate stability. The shock absorber effect in Indonesia is more effective than the buffer stock effect to stabilize the real exchange rate due to the terms of trade shock. JEL Classification: E44, F31, F32 Keywords:International reserves, buffer stock, financial deepening, shock absorber, terms of trade shock, real exchange rate. Aizenman, Joshua dan Nancy Marion.
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