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Determinan utang luar negeri Indonesia dengan pendekatan error correction model (ECM)

e-Journal Perdagangan Industri dan Moneter · Vol. 10 No. 1 (2022) · pp. 71–84

DOI
10.22437/pim.v10i1.13090
ISSN
2303-1204
Published
2022-03-07
Publisher
Prodi Ekonomi Pembangunan Fakultas Ekonomi dan Bisnis Universitas Jambi
Language
en
License
creativecommons.org/licenses/by-sa/4.0

Abstract

Abstract The purpose of this research is: 1) to identify the development of foreign debts, exchange rates, exchange reserves, GDP, imports, and exports in Indonesia. 2) to analyze the long-term and short-term impact of exchange rates, exchange reserves, GDP, imports, and exports on Indonesian foreign debt. This study uses a quantitative descriptive analysis method of time-series data from 1995 to 2019. It uses multiple linear regression analysis tools with the Ordinary Least Square (OLS) and Error Correction Model (ECM) with the help of Eviews 8. The source of data from the Sentral Statistics Agency (BPS) and Bank Indonesia. The data analysis technique is multiple linear regression, unit root test, ECM, partial hypothesis testing using t-test and simultaneously using F-test with a significance level of 5%. Based on the results, it can be concluded that in the long-term, the exchange rate, foreign exchange rate, GDP, imports, and exports have a significant effect on foreign debt, while in the short-term, GDP does not have a significant impact on foreign debt.

Keywords

Collaboration network of the authors

40 authors · 104 co-authorship links · showing the 40 most connected

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • Universitas Syiah Kuala
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Rahma NurjanahAffiliation unknown11
Emilia EmiliaAffiliation unknown5
Arman DelisAffiliation unknown4
Nurhayani NurhayaniAffiliation unknown3
Rosmeli RosmeliAffiliation unknown3
Zamzami ZamzamiAffiliation unknown2
Yohanes Vyn AmzarAffiliation unknown2
Erni AchmadAffiliation unknown2
Amri AmirAffiliation unknown2
Parmadi ParmadiAffiliation unknown1
Mustika MustikaAffiliation unknown1
Haryadi HaryadiAffiliation unknown1
Jonni AliAffiliation unknown1
Rama Adi PutraAffiliation unknown1
Muhammad SafriAffiliation unknown1
Gafur GafurAffiliation unknown1
Meri DarlinaAffiliation unknown1
Yannizar YannizarAffiliation unknown1
Sigit IndrawijayaAffiliation unknown1
Etik UmiyatiAffiliation unknown1
Yantoro yantoroAffiliation unknown1
Destrinelli DestrinelliAffiliation unknown1
Grace Patricia AngelinaAffiliation unknown1
Ahmad Nur Budi UtamaAffiliation unknown1
Muslimin Andika PutraAffiliation unknown1
Tri YudiartiAffiliation unknown1
Dearmi ArtisAffiliation unknown1
Miko RamadaniAffiliation unknown1
Yulmi Nur AsriniAffiliation unknown1
Nadya GraceAffiliation unknown1
Desy MartauliAffiliation unknown1
Tarmizi TarmiziUniversitas Syiah Kuala1
Usman HardiantoAffiliation unknown1
KGS Anton WijayaAffiliation unknown1
Yulia SaniAffiliation unknown1
Erfit ErfitAffiliation unknown1
Eko PurwantoAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://online-journal.unja.ac.id/index.php/pim/oai, first harvested 6 Nov 2026, last seen 8 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en">Determinan utang luar negeri Indonesia dengan pendekatan error correction model (ECM)</dc:title>
	<dc:creator xml:lang="en">Rahayu, Yunita Rizqi</dc:creator>
	<dc:creator xml:lang="en">Hodijah, Siti </dc:creator>
	<dc:creator xml:lang="en">Mustika, Candra </dc:creator>
	<dc:subject xml:lang="en">Foreign debt</dc:subject>
	<dc:subject xml:lang="en">exchange rates</dc:subject>
	<dc:subject xml:lang="en">exchange reserves</dc:subject>
	<dc:subject xml:lang="en">GDP</dc:subject>
	<dc:subject xml:lang="en">imports</dc:subject>
	<dc:subject xml:lang="en">exports</dc:subject>
	<dc:description xml:lang="en">Abstract
The purpose of this research is: 1) to identify the development of foreign debts, exchange rates, exchange reserves, GDP, imports, and exports in Indonesia. 2) to analyze the long-term and short-term impact of exchange rates, exchange reserves, GDP, imports, and exports on Indonesian foreign debt. This study uses a quantitative descriptive analysis method of time-series data from 1995 to 2019. It uses multiple linear regression analysis tools with the Ordinary Least Square (OLS) and Error Correction Model (ECM) with the help of Eviews 8. The source of data from the Sentral Statistics Agency (BPS) and Bank Indonesia. The data analysis technique is multiple linear regression, unit root test, ECM, partial hypothesis testing using t-test and simultaneously using F-test with a significance level of 5%. Based on the results, it can be concluded that in the long-term, the exchange rate, foreign exchange rate, GDP, imports, and exports have a significant effect on foreign debt, while in the short-term, GDP does not have a significant impact on foreign debt.</dc:description>
	<dc:publisher xml:lang="en">Prodi Ekonomi Pembangunan Fakultas Ekonomi dan Bisnis Universitas Jambi</dc:publisher>
	<dc:date>2022-03-07</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://online-journal.unja.ac.id/pim/article/view/13090</dc:identifier>
	<dc:identifier>10.22437/pim.v10i1.13090</dc:identifier>
	<dc:source xml:lang="en">e-Journal Perdagangan Industri dan Moneter; Vol. 10 No. 1 (2022): e-Journal Perdagangan Industri dan Moneter; 71-84</dc:source>
	<dc:source>2303-1204</dc:source>
	<dc:language>en</dc:language>
	<dc:relation>https://online-journal.unja.ac.id/pim/article/view/13090/13095</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 1970 Yunita Rizqi Rahayu</dc:rights>
	<dc:rights xml:lang="en">https://creativecommons.org/licenses/by-sa/4.0</dc:rights>
</oai_dc:dc>