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THE ROLE OF MACROPRUDENTIAL POLICY TO MANAGE EXCHANGE RATE VOLATILITY, EXCESS BANKING LIQUIDITY, AND CREDITS

Buletin Ekonomi Moneter dan Perbankan · Vol. 18 No. 1 (2015) · hlm. 21–44

DOI
10.21098/bemp.v18i1.511
ISSN
2460-9196, 1410-8046
Terbit
2015-11-09
Penerbit
Bank Indonesia
Bahasa
eng

Abstrak

This paper analyzes the macroprudential policy by the central bank to maintain the financial system stability. Using panel data of the government banks, foreign, private, joint venture, and regional development banks during 2004- 2012, we employ Vector Autoregressive Exogenous (VARX) and event analysis method and find that the level of exchange rate volatility decrease after the implementation of the one month holding period, six-month holding period and net open position policies. However, for the nominal exchange rate, these policies are not effective. In aggregate the reserve requirement plus loan to deposit ratio policy is effective to raise the bank credit allocation. Furthermore, the impact of the primary reserve policy is very limited to lower the liquidity of the economy; while at the same time the flow of foreign capital comes into very heavy

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  • Universitas Jember
  • Universitas Gadjah Mada
  • State University of Semarang
  • Universitas Jambi
  • Universitas Putera Batam
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Rekan penulisOrganisasiArtikel bersama
Inda Fresti PuspitasariState University of Semarang1
Dwi HastutiUniversitas Jambi1
Sunargo SunargoUniversitas Putera Batam1
Adhitya WardhonoUniversitas Jember1
Badara Shofi DanaUniversitas Jember1

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Sumber metadata: OAI-PMH (metadata jurnal) https://www.bmeb-bi.org/index.php/BEMP/oai, pertama di-harvest 8 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en-US">THE ROLE OF MACROPRUDENTIAL POLICY TO MANAGE EXCHANGE RATE VOLATILITY, EXCESS BANKING LIQUIDITY, AND CREDITS</dc:title>
	<dc:creator>Purnawan, Muhammad Edhie</dc:creator>
	<dc:creator>Nasir, M. Abd.</dc:creator>
	<dc:description xml:lang="en-US">This paper analyzes the macroprudential policy by the central bank to maintain the financial&amp;nbsp;system stability. Using panel data of the government banks, foreign, private, joint venture, and regional&amp;nbsp;development banks during 2004- 2012, we employ Vector Autoregressive Exogenous (VARX) and event&amp;nbsp;analysis method and find that the level of exchange rate volatility decrease after the implementation of&amp;nbsp;the one month holding period, six-month holding period and net open position policies. However, for&amp;nbsp;the nominal exchange rate, these policies are not effective. In aggregate the reserve requirement plus&amp;nbsp;loan to deposit ratio policy is effective to raise the bank credit allocation. Furthermore, the impact of the&amp;nbsp;primary reserve policy is very limited to lower the liquidity of the economy; while at the same time the&amp;nbsp;flow of foreign capital comes into very heavy&amp;nbsp;</dc:description>
	<dc:publisher xml:lang="en-US">Bank Indonesia</dc:publisher>
	<dc:date>2015-11-09</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:format>text/html</dc:format>
	<dc:identifier>https://www.bmeb-bi.org/index.php/BEMP/article/view/511</dc:identifier>
	<dc:identifier>10.21098/bemp.v18i1.511</dc:identifier>
	<dc:source xml:lang="en-US">Buletin Ekonomi Moneter dan Perbankan; Vol 18 No 1 (2015); 21-44</dc:source>
	<dc:source xml:lang="id-ID">Buletin Ekonomi Moneter dan Perbankan; Vol 18 No 1 (2015); 21-44</dc:source>
	<dc:source>2460-9196</dc:source>
	<dc:source>1410-8046</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://www.bmeb-bi.org/index.php/BEMP/article/view/511/483</dc:relation>
	<dc:relation>https://www.bmeb-bi.org/index.php/BEMP/article/view/511/879</dc:relation>
	<dc:relation>10.21098/bemp.v18i1.511.g483</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2015 Muhammad Edhie Purnawan, M. Abd. Nasir</dc:rights>
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