Does It Have The Exchange Rate Fluctuate In Emerging Markets Of Muslim Countries?

Dewi  Mahrani Rangkuty; Saimara  A.M. Sebayang; Rafidhah Asysyarifah

doi:10.1234/ichss.v1i1.25

Authors

Dewi Mahrani Rangkuty Universitas Pembangunan Panca Budi
Saimara A.M. Sebayang Universitas Pembangunan Panca Budi
Rafidhah Asysyarifah Universitas Pembangunan Panca Budi

DOI:

https://doi.org/10.1234/ichss.v1i1.25

Keywords:

exchange rate, imports, income per capita, inflation, money supply

Abstract

Research aims to Analyze the relationship and detection of Exports, Inflation, Money Supply, GDP, Imports and Income per Capita to the Exchange Rate. Where monetary policy variables (Exchange Rate, GDP, Money Supply, Inflation, Income per Capita) and macro policy (Exports and Imports). Then this research uses secondary data or time series that is from 2010 to 2019. The results of the ARDL Panel showed that the country that can be the leading indicator for currency market stability is Indonesia, and Pakistan this is because all variables or indicators in the study namely (GDP, Inflation, and Money Supply) of the country have a significant effect on the Exchange Rate, then in Turkey, Malaysia, Bangladesh, Egypt and the United Arab Emirates only Income per Capita that does not affect the Exchange Rate, While the Saudi Arabian country only imports that do not affect the exchange rate. The recommendation of this study is for input for the government through Bank Indonesia, the Ministry of Finance, Central Banks of countries that are the object of research in controlling exchange rates, to maintain the stability of the currency market in the emerging market of Muslim Countries through inflation control to price stability that can increase economic growth.

References

Adek , L., Sri Ulfa Sentosa, & Hasdi Aimon. (2013). ANALISIS ER DAN MONEY SUPPLY DI INDONESIA . Jurnal Kajian Ekonomi Vol. I, No. 02, 12.

Agustin, G. (2009). Analisis Paritas Daya Beli Pada ER Rupiah terhadap Dolar Amerika SErikat Periode September 1997 –Desember 2007 dengan Menggunakan Metode Error Correction Model. Jurnal IESP Vol 1, No, 1; Fakultas Ekonomi Universitas Negeri Malang.

Akhmad , M., Suhadak, & Topowijono. (2015). PENGARUH INFLASI, TINGKAT SUKU BUNGA SBI, PENDAPATAN PERKAPITA, DAN EKSPOR TERHADAP NILAI TUKAR RUPIAH DAN PERTUMBUHAN EKONOMI. Jurnal Administrasi Bisnis (JAB). CEIC. (2020, JULI MINGGU). Retrieved from CEIC DATA: https://www.ceicdata.com/id

Djulius, & Nurdiansyah. (2014). Keseimbangan Jangka Panjang dan Jangka Pendek Nilai tukar Rupiah terhadap dolar Amerika. Journal Trikonomika Vol 13 No 1. Fakultas Ekonomi Universitas Pasundan Bandung.

Ekananda, & Mahyus. (2014). Ekonomi Internasional. Jakarta: Erlangga. Emilia, Rahma, N., & SitiAminah. (2015). Analisis Pengaruh Ekspor ke China terhadap Pendapatan Perkapita dan Penyerapan tenaga kerja di Indonesia. Jurnal Paradigma Ekonomika.

Margareni, Purnama , A., Djayastra, K., Yasa, & Murjana , W. (2016). Faktor-Faktor yang Memengaruhi Kemiskinan di Provins Bali. Piramida:. Jurnal Kependudukan dan Pengembangan Sumber Daya Manusia, Vol. XII No. 1, 101– 110.

Mishkin, & Frederic , S. (2009). Ekonomi, Uang, Perbankan dan Pasar Keuangan.Jakarta, Salemba Empat: Edisi 8. Buku 2.

RIRIN. (2019). ANALISIS MEKANISME TRANSMISI KEBIJAKAN MONETER DENGAN JALUR NILAI TUKAR DI INDONESIA. SURAKARTA: UNIVERSITAS MUHAMMADIYAH.

Rusiadi. (2018). Analisis Efektivitas Transmisi Kebijakan Moneter Jangka Panjang. Medan: 2018.

Rusiadi, S. M., Nur Subiantoro, S., & Rahmat Hidayat, S. (2015). Metode Penelitian Manajemen, Akuntansi dan Ekonomi Pembangunan, Konsep, Kasus dan Aplikasi SPSS, Eviews, Amos dan Lisrel. Medan: Cetakan Pertama. USU Press.

Sukirno , Sandono. (2011). Makroekonomi Teori Pengantar. Jakarta: PT Raja Grafindo Persada.

WOLD Bank. (2020, July Saturday). Retrieved from WORLBank data: https://data.worldbank.org/