Covid-19 Pandemic: The Study for Reserve Requirement of Indonesia
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Published:
2021-04-01
Keywords:
Covid-19; Pandemic; Reserve requirement
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Abstract
The Covid-19 pandemic has had an impact on the Indonesian economy. The purpose of this study was to analyze the causality and balanced relationship in the long term between RR, IR and INF variables during the Covid-19 pandemic. With the Granger Causality and Johansen Cointegration test methods, the results showed that there is a long-term balance between RR, IR and INF. RR and IR are one-way causality relationships, IR and INF are one-way causality relationships. There is no causality relationship between IR and RR and vice versa during the Covid-19 pandemic. The RR policy affects the determination of IR and IR affecting Indonesia's INF during the Covid-19 pandemic. To reduce the inflation rate during the pandemic, Bank Indonesia needs to implement RR policy through the determination of interest rates.
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Bank Indonesia. (2020). Perubahan atas Peraturan Bank Indonesia Nomor 20/3/PBI/2018 tentang Giro Wajib Minimum Dalam Rupiah dan Valuta Asing Bagi Bank Umum Konvensional, Bank Umum Syariah, dan Unit Usaha Syariah. Bank Indonesia, 1, 1–6. www.bi.go.id
Basuki, A. T. (2019). Aplikasi VECM Dalam Ekonomi. Raja Grafindo Persada. https://ekonometrikblog.files.wordpress.com/2019/11/aplikasi-vecm-dalam-ekonomi.pdf
CEIC Data. (2020a). Indonesia Inflation Target: Bank of Indonesia. Ceic Data. https://www.ceicdata.com/en/indonesia/consumer-price-index-inflation-target/inflation-target-bank-of-indonesia
CEIC Data. (2020b). Indonesia Rasio Cadangan Wajib. Ceic Data. https://www.ceicdata.com/id/indicator/indonesia/reserve-requirement-ratio
Dela, M. W. . (2018). PENERAPAN GIRO WAJIB MINIMUM YANG DITETAPKAN BANK INDONESIA PADA PERBANKAN SYARIAH DI INDONESIA [UIN Sumatera Utara]. http://repository.uinsu.ac.id/5103/1/GIRO WAJIB MINIMUM FIX.pdf
Fajarwati, R. Y., & Setiawina, N. D. (2018). Analisis Dampak Kebijakan Moneter Terhadap Jumlah Uang Beredar, Cadangan Devisa Dan Laju Inflasi Di Indonesia Tahun 2010-2016. E-Jurnal EP Unud, 7(6), 1168–1198. https://ojs.unud.ac.id/index.php/eep/article/view/38933
Feranika, A., & Haryati, D. (2020). Strategi Kebijakan Fiskal Terhadap Output dan Inflasi pada Perekonomian Indonesia dalam Menghadapi Dampak Virus Covid 19. Business Innovation and Entrepreneurship Journal, 2(3), 146–152. https://doi.org/10.35899/biej.v2i3.154
Hanoatubun, S. (2020). Dampak COVID-19 Terhadap Perekonomian Indonesia. Journal of Education, Psychology and Counseling, 2(1), 146–153. https://ummaspul.e-journal.id/Edupsycouns/article/view/423/240
Iriani, N. (2013). PENGARUH KELEBIHAN GIRO WAJIB MINIMUM (GWM) TERHADAP PROFITABILITAS PADA P.T. BANK DANAMON (PERSERO) TBK KANTOR WILAYAH X MAKASSAR DI KOTA MAKASSAR. Economix, 1(2), 12–23.
Kurniawan, A. (2014). Metode Riset untuk Ekonomi & Bisnis.
Mankiw, N. ., Quah, E., & Wilson, P. (2013). Pengantar Ekonomi Makro: Principle of Economics An Asian Edition. In Volume 2. Salemba Empat.
Nasution, D. A. D., Erlina, E., & Muda, I. (2020). Dampak Pandemi COVID-19 terhadap Perekonomian Indonesia. Jurnal Benefita, 5(2), 212. https://doi.org/10.22216/jbe.v5i2.5313
Pradhana, A. W. (2016). PENGARUH GIRO WAJIB MINIMUM TERHADAP TINGKAT PENYALURAN KREDIT DI INDONESIA TAHUN 202-2016. Jurnal Ilmu Ekonomi FEB UNBRAW, 1–17.
Putri, I. G. A. P. ., & Suryantini, N. P. . (2017). DETERMINASI LOAN TO DEPOSIT RATIOPADA BANK CAMPURAN DI INDONESIA. E-Jurnal Manajemen Unud, 6(1), 204–234. https://ojs.unud.ac.id/index.php/Manajemen/article/view/26456/17358
Rusiadi. (2014). Metode Penelitian Untuk Menajemen, Akuntansi dan Ekonomi Pembangunan. Konsep, Kasus dan Aplikasi SPSS, EViews, Amos dan Lisrel. Cetakan Kedua. USU Press.
Rusmadi, R. (2017). Pengaruh Harga Cabai terhadap Tingkat Inflasi di Indonesia Tahun 2016. Syntax Literate; Jurnal Ilmiah Indonesia, 2(2), 124–132.
Salam, W. R. (2020). Inflasi Ditengah Pandemi Dalam Perspektif Islam. Jurnal Syntax Transformation, 1(5), 187–192. http://jurnal.syntaxtransformation.co.id/index.php/jst/article/view/72/106
Siburian, S. (2011). Analisis Kointegrasi Dan Pengaruh Tingkat Suku Bunga, Giro Wajib Minimum Dan Inflasi Terhadap Pertumbuhan Kredit Yang Disalurkan Oleh Bank Umum Di Sumut [USU]. http://repository.usu.ac.id/handle/123456789/24552
Sir, Y. A. (2012). PENGARUH CADANGAN WAJIB MINIMUM DAN TINGKAT SUKU BUNGA TERHADAP INFLASI DI INDONESIA. JEJAK, 5(1), 82–89. https://journal.unnes.ac.id/nju/index.php/jejak/article/view/4632
Wahyudi, R. (2020). Analisis Pengaruh CAR, NPF, FDR, BOPO dan Inflasi terhadap Profitabilitas Perbankan Syariah di Indonesia: Studi Masa Pandemi Covid-19. At-Taqaddum, 12(1), 13–24. https://www.mendeley.com/catalogue/b07c6a0f-a4f9-39d7-9fea-b36a51dfcdfe/
Widarjono, A. (2014). Ekonometrika Pengantar dan Aplikasinya Disertai Panduan EViews (1st ed.). UPP STIM YKPN Yogyakarta.
Wuryandani, D. (2020). DAMPAK PANDEMI COVID-19 TERHADAP PERTUMBUHAN EKONOMI INDONESIA 2020 DAN SOLUSINYA. INFO Singkat Bidang Ekonomi Dan Kebijakan Publik, XII(15), 19–24. https://berkas.dpr.go.id/puslit/files/info_singkat/Info Singkat-XII-15-I-P3DI-Agustus-2020-206.pdf