Analysis of the Effect of E-Money on Economic Growth in Indonesia

Pretty Naomi Sitompul () and Vera Sylvia Saragi Sitio

Academic Journal of Economic Studies, 2020, vol. 6, issue 3, 113-121

Abstract: This study aims to determine and analyze the effect of e-money, money supply, inflation, and exchange rate on economic growth in Indonesia. This study uses monthly time series data from January 2009 to December 2018 with a sample size of 120 months. The model used is the vector error correction model (VECM) using the EViews 10 software. The results show that in the long run there is a relationship between e-money, money supply, and exchange rate on economic growth in Indonesia. E-Money and money supply have a positive and significant effect on economic growth in Indonesia. Then, inflation has a positive and insignificant effect on economic growth in Indonesia, while exchange rate has a negative and significant effect on economic growth in Indonesia. Based on the granger causality test, there is no two-way relationship between each research variable.

Keywords: E-Money; money supply; inflation; exchange rate; economic growth (search for similar items in EconPapers)
JEL-codes: O47 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:khe:scajes:v:6:y:2020:i:3:p:113-121

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