Dampak Perkembangan Keuangan dan Keterbukaan Perdagangan terhadap Pertumbuhan Ekonomi di Indonesia periode 1980-2012

Abstract

This paper analyzes the impact of financial development and trade openness as well as causality and the response of economic growth in Indonesia during 1980-2012. The data used in the study are GDP per capita, money supply, domestic credit banking, export and import. Analysis of the data using Vector Error Correction Model (VECM) and Granger Causality Test. The results shows that Indonesia's economy is supporting growth driven trade hypothesis. Long-term economic growth is influenced positively by the money supply and export, as well as negatively affected by domestic bank credit and imports. The development of financial and trade openness shocks responded negatively by economic growth.