�Pengaruh Kebijakan Moneter Terhadap Jalur Kredit di Indonesia pada Tahun 1991-2012�
| Main Authors: | , TANRI ABENG SITINJAK, , Artidiatun Adji, MEc., M.A., Ph.D. |
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| Format: | Thesis NonPeerReviewed |
| Terbitan: |
[Yogyakarta] : Universitas Gadjah Mada
, 2013
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| Subjects: | |
| Online Access: |
https://repository.ugm.ac.id/126820/ http://etd.ugm.ac.id/index.php?mod=penelitian_detail&sub=PenelitianDetail&act=view&typ=html&buku_id=67054 |
Daftar Isi:
- Nopirin (2003) saying that monetary policy is the action taken by monetary authorities to affect the money supply and credit that will affect the economic activities. Lending is intended to encourage economic growth and increase national output. Utari, et al (2012) saying that in spite of the increasing capital market financing provided, financing through the banking sector still dominates the total credit during the period of 1990-2010. While on the other hand, there is a presumption that the transmission mechanism of monetary policy is not effective to achieve the monetary targets. Hakim (2001) assumed that the transmission mechanisms that exist at the moment, including the credit channel, is not longer control the growth of monetary aggregates exactly. So, it is interesting to discuss to determine the effect of the credit sector in the transmission of monetary policy in Indonesia during the period of 1991-2012. On the one hand credit financing is still high by bank and on the other hand, there is a presumption that the credit is not effective to achieve the monetary targets. The analysis tool used in this research is Vector Autoregression (VAR). The data used are secondary data with observation period during 1991-2012. Monetary variables observed are lending, interest rate of Bank Indonesia, Consumer Price Index, rate of production and the money supply. With VAR, it is concluded that monetary policy through the credit channel is still effective to achieve the monetary targets. This is consistent with research conducted by Ludvigson (1998), Luckett (1970), Brinkman, et al (1995) and Kim (1998).