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International Trade Activities as Drivers of Economic Growth: Macro Conditions

Economics Development Analysis Journal · Vol. 13 No. 3 (2024)

DOI
10.15294/edaj.v13i3.4114
ISSN
2502-2725, 2252-6560
Terbit
2024-09-26
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

Global economic growth has hovered around 2-3% over the past decade, resulting in stagnant GDP growth for Indonesia at approximately 5%. This research aims to analyze the effects of macroeconomic conditions, specifically money supply (M2), foreign debt, and international trade activities, on Indonesia's GDP growth from 1994 to 2023. Utilizing a linear regression method with 30 observations, the study finds significant impacts of the independent variables on GDP growth. M2 influences GDP growth by 93%, foreign debt by 76.6%, and net exports by 92.3%. Simultaneously, changes in these variables explain 93.7% of the variation in Indonesia's GDP. The theoretical foundation of this research is built upon previous studies on economic growth and macroeconomic factors, emphasizing the role of monetary policy, debt management, and export diversification. The findings indicate that the careful management of M2 is critical to fostering investment and consumption, while excessive reliance on foreign debt may hamper long-term growth. Non-oil and gas exports significantly contribute to GDP, underscoring the importance of export diversification. The study concludes that these macroeconomic factors are vital for sustainable economic growth and improving welfare in Indonesia, and recommends policy interventions to optimize their effects.

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31 penulis · 56 tautan kepenulisan bersama · 16 lintas organisasi

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  • Tanjungpura University
  • Hasanuddin University
  • Universitas Insan Pembangunan Indonesia
  • Universitas Islam Negeri Alauddin Makassar
  • Sebelas Maret University
  • Universitas Halu Oleo
  • Samudra University
  • Organisasi lain
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  • Afiliasi tidak diketahui
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Tampilkan sebagai tabel
Rekan penulisOrganisasiArtikel bersama
Siti KhotimahTanjungpura University3
MukarlinaTanjungpura University2
Mustamin AnggoUniversitas Halu Oleo1
Nur Hatidjah Awaliyah HalidAfiliasi tidak diketahui1
Dian RahmaniarAfiliasi tidak diketahui1
Larasati NingsihAfiliasi tidak diketahui1
Zulfa ZakiahAfiliasi tidak diketahui1
Astuti ArifHasanuddin University1
Tutik KuswinantiHasanuddin University1
Musrizal MuinHasanuddin University1
Rikhsan KurniatuhadiTanjungpura University1
Indah PratiwiHasanuddin University1
Lala SariTanjungpura University1
Via AnggitaTanjungpura University1
MukarlinaTanjungpura University1
Siti KhotimahTanjungpura University1
Fiza IkramullahTanjungpura University1
Andini WidyaningsihTanjungpura University1
Siti Aulia KhotimahTanjungpura University1
Syarifah Risna KhairunisaTanjungpura University1
Anita PurwantiSamudra University1
FajrianiAfiliasi tidak diketahui1
. FatmawatiAfiliasi tidak diketahui1
Muhammad ShuhufiUniversitas Islam Negeri Alauddin Makassar1
Firman Muhammad ArifUniversitas Islam Negeri Palopo1
Rahma AmirUniversitas Islam Negeri Alauddin Makassar1
Bhisma MurtiSebelas Maret University1
Vitri WidyaningsihSebelas Maret University1

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Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/edaj/oai, pertama di-harvest 5 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">International Trade Activities as Drivers of Economic Growth: Macro Conditions</dc:title>
	<dc:creator xml:lang="en">Goestjahjanti, Francisca Sestri</dc:creator>
	<dc:creator xml:lang="en">Novitasari, Dewiana </dc:creator>
	<dc:creator xml:lang="en">Rahmawati</dc:creator>
	<dc:subject xml:lang="en">Export</dc:subject>
	<dc:subject xml:lang="en">External Debt</dc:subject>
	<dc:subject xml:lang="en">International Trade</dc:subject>
	<dc:subject xml:lang="en">Money Supply</dc:subject>
	<dc:description xml:lang="en">Global economic growth has hovered around 2-3% over the past decade, resulting in stagnant GDP growth for Indonesia at approximately 5%. This research aims to analyze the effects of macroeconomic conditions, specifically money supply (M2), foreign debt, and international trade activities, on Indonesia's GDP growth from 1994 to 2023. Utilizing a linear regression method with 30 observations, the study finds significant impacts of the independent variables on GDP growth. M2 influences GDP growth by 93%, foreign debt by 76.6%, and net exports by 92.3%. Simultaneously, changes in these variables explain 93.7% of the variation in Indonesia's GDP. The theoretical foundation of this research is built upon previous studies on economic growth and macroeconomic factors, emphasizing the role of monetary policy, debt management, and export diversification. The findings indicate that the careful management of M2 is critical to fostering investment and consumption, while excessive reliance on foreign debt may hamper long-term growth. Non-oil and gas exports significantly contribute to GDP, underscoring the importance of export diversification. The study concludes that these macroeconomic factors are vital for sustainable economic growth and improving welfare in Indonesia, and recommends policy interventions to optimize their effects.</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2024-09-26</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">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/edaj/article/view/4114</dc:identifier>
	<dc:identifier>10.15294/edaj.v13i3.4114</dc:identifier>
	<dc:source xml:lang="en">Economics Development Analysis Journal; Vol. 13 No. 3 (2024): Economics Development Analysis Journal</dc:source>
	<dc:source>2502-2725</dc:source>
	<dc:source>2252-6560</dc:source>
	<dc:source>10.15294/edaj.v13i3</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/edaj/article/view/4114/1661</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2024 Economics Development Analysis Journal</dc:rights>
</oai_dc:dc>