文章基本信息

标题：Short Term Portfolio Investment and BI Rate: Do They Determine the Stabilization of Rupiah Exchange Rate in Indonesia?
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作者：Chenny Seftarita ; Fitriyani Fitriyani ; Cut Zakia Rizki 等
期刊名称：Journal of Economic Development, Environment and People
印刷版ISSN：2285-3642
出版年度：2019
卷号：8
期号：1
页码：18-28
DOI：10.26458/jedep.v8i1.608
出版社：Alliance of Central-Eastern European Universities
摘要：This study aims to investigate the influence of short-term portfolio investments and BI interest rate on fluctuation of rupiah exchange rate in Indonesia. The data used is quarterly data from 2010 to 2016 collected from Indonesia Central Bank. Using the Autoregressive Distributed Lag (ARDL) method, the result showed that rupiah exchange rate was strongly influenced by shocks in the private debt securities, joint stock price index, and BI Rate, both in the long run and short run. Moreover, it is found that there was a short-run and long-run balance relationship between Short Term Portfolio Investments and BI rate against the rupiah exchange rate. Thus, it is recommended that in order to stabilize the exchange rate, it is necessary to maintain the stability of short-term portfolio investments.
关键词：Short Term Portfolio Investments; Nominal Exchange Rate; BI Rate; ARDL