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ALIRAN MODAL PORTFOLIO DAN IMPLIKASINYA TERHADAP PERGERAKAN NILAI TUKAR: STUDI KASUS INDONESIA 1997-2007

Jurnal Ekonomi dan Pembangunan Indonesia

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Title ALIRAN MODAL PORTFOLIO DAN IMPLIKASINYA TERHADAP PERGERAKAN NILAI TUKAR: STUDI KASUS INDONESIA 1997-2007
 
Creator Perwitasari, Shinta Dewi
Falianty, Telisa Aulia
 
Subject economics
exchange rate, portfolio investment, VAR.
F31, C32, G11, G15
 
Description As the result of global financial liberalization there is a tendency for increasing number of portfolio investment which in turn dominates the domestic financial market. This study aims to elaborate the effect of shortterm portfolio investment flows to the exchange rate. Using the method of Vector Auto Regressive (VAR), this study employs quarterly data from 1997 to 2007. The result shows that both real and nominal exchange rates are affected by the short-term portfolio investment flows dominantly. In particular the short-term portfolio investment inflows strengthen the local currency. Secondly, in other direction short-term portfolio investment flows also affected by both real and nominal exchange rate. Thirdly, the impact of shortterm portfolio investment flows to change of nominal exchange rate is temporarily due to adjustment toward equilibrium, but ndt for real exchange rate.
 
Publisher Department of Economics-FEB UI
 
Contributor —
 
Date 2008-07-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
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Identifier http://jepi.fe.ui.ac.id/index.php/JEPI/article/view/146
10.21002/jepi.v9i1.146
 
Source Jurnal Ekonomi dan Pembangunan Indonesia; Vol 9, No 1 (2008): Juli; 43-70
2406-9280
1411-5212
 
Language en
 
Coverage Indonesia
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