Oktavia, Shindy (2024) ANALISIS MONETARY POLICY EFFICIENCY TERHADAP EXCHANGE RATE VOLATILITY DI NEGARA BERKEMBANG. S1 thesis, Universitas Sultan Ageng Tirtayas.
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Abstract
This research was conducted on the basis that monetary policy and exchange rate volatility play an important role in the economy, as happened in 1997/1998, namely the monetary crisis and in 2019, namely the Covid pandemic. Central banks play an important role in making efficient policies which have an impact on low exchange rate volatility. This research aims to identify the influence of Monetary Policy Efficiency (MPE) and control variables, namely Central Bank Interest Rates, Inflation, Money Supply (M2), and International Trade in the period 2011 to 2023. The analysis method used a Dynamic Panel approach with GMM (Generalized Method of Moment) model. The results of this research prove that MPE has a significant negative effect on exchange rate volatility. While on Inflation, M2, and International Trade have a positive effect on exchange rate volatility. However, the Central Bank Interest Rate does not show any significant influence on exchange rate volatility. Thus, there is evidence of the negative influence of monetary policy efficiency which shows that any increase in monetary policy efficiency can reduce exchange rate volatility in developing countries.
| Item Type: | Thesis (S1) | |||||||||
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| Additional Information: | Penelitian ini dilakukan berlandaskan bahwa kebijakan moneter dan volatilitas nilai tukar berperan penting dalam perekonomian, seperti yang terjadi pada tahun 1997/1998 yaitu krisis moneter dan pada tahun 2019 yaitu pandemi covid. Bank sentral berperan penting dalam pembuatan kebijakan yang efisien yang berdampak pada rendahnya exchange rate volatility. Penelitian ini bertujuan untuk mengidentifikan pengaruh dari Monetary Policy Efficiency (MPE) dan variabel kontrol yaitu Suku Bunga Bank Sentral, Inflasi, Jumlah Uang Beredar (M2), dan Perdagangan Internasional pada periode 2011 sampai dengan 2023. Metode analisis yang digunakan ialah pendekatan Panel Dinamis dengan model GMM (Generalized Method of Moment). Hasil penelitian ini membuktikan bahwa MPE berpengaruh negative signifikan terhadap volatilitas nilai tukar. Sedangkan pada variabel Inflasi, M2, dan Perdagangan Internasional berpengaruh positif terhadap volatilitas nilai tukar. Namun, pada Suku Bunga Bank Sentral tidak menunjukan adanya pengaruh signifikan terhadap volatilitas nilai tukar. Dengan demikian adanya bukti pengaruh negative dari efisiensi kebijakan moneter yang menunjukan bahwa setiap peningkatan efisiensi kebijakan moneter dapat menurunakan voaltilitas nilai tukar pada negara berkembang | |||||||||
| Subjects: | H Social Sciences > HA Statistics H Social Sciences > HB Economic Theory H Social Sciences > HC Economic History and Conditions |
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| Divisions: | 05-Fakultas Ekonomi dan Bisnis 05-Fakultas Ekonomi dan Bisnis > 60201-Program Sarjana Ilmu Ekonomi Pembangunan |
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| Depositing User: | Shindy Oktavia | |||||||||
| Date Deposited: | 14 Aug 2024 09:18 | |||||||||
| Last Modified: | 14 Aug 2024 09:18 | |||||||||
| URI: | http://eprints.untirta.ac.id/id/eprint/40703 |
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