Dampak E-Money, Inflasi dan Suku Bunga Terhadap Kecepatan Perputaran Uang di Indonesia
Keywords:
Electronic money, inflasi, suku bunga, kecepatan perputaran uang, autoregressive distributed lag
Abstract
Penelitian ini bertujuan untuk membuktikan dampak uang elektronik, inflasi, dan suku bunga terhadap kecepatan perputaran uang di Indonesia. Metode penelitian ini menggunakan metode kuantitatif dengan model estimasi Autoregressive Distributed Lag (ARDL) dengan data triwulanan dari 2010Q1 hingga 2024Q1. Hasil penelitian membuktikan bahwa dalam jangka panjang, uang elektronik dan suku bunga memiliki dampak positif yang signifikan terhadap kecepatan perputaran uang, sedangkan inflasi tidak memengaruhi kecepatan perputaran uang secara signifikan. Dalam jangka pendek, inflasi dan suku bunga memiliki dampak positif yang signifikan terhadap kecepatan perputaran uang, sedangkan suku bunga dari periode sebelumnya memengaruhi kecepatan perputaran uang secara positif tidak siginifikan. Sedangkan, uang elektronik tidak menunjukkan dampak yang signifikan dalam jangka pendek. Berdasarkan temuan ini, disarankan bagi pembuat kebijakan fokus pada promosi uang elektronik dan pengelolaan suku bunga untuk meningkatkan kecepatan peredaran uang dan meningkatkan efisiensi ekonomi.
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B, P. D. L., & Hien, B. Q. (2018). Determinants and Stability of Demand for Money in Vietnam. Studies in Computational Intelligence, 1. https://doi.org/10.1007/978-3-319-73150-6
Bank Indonesia. (2014). Peraturan Bank Indonesia Nomor 16/8/PBI/2014 tentang Perubahan atas Peraturan Bank Indonesia Nomor 11/12/PBI/2009 tentang Uang Elektronik (Electronic Money). Peraturan BI No 16/8/PBI /2014, 1–21.
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DR.Boediono. (2018). Ekonomi Moneter (3rd ed.). BPFE-YOGYAKARTA.
Ejaz, R., & Khan, A. (2018). Velocity of money in Pakistan?: Time series analysis. January 2013.
Fisher, I. (2012). The Debt-Deflation Theory of Great Depressions Author ( s ): Irving Fisher Reviewed work ( s ): Published by?: The Econometric Society Stable URL?: http://www.jstor.org/stable/1907327 . 1(4), 337–357.
Friedman, M., & Forder, J. (2019). Milton friedman (1st ed.). Palgrave Macmillan London. https://doi.org/10.1057/978-1-137-38784-4
Helin G Yudawisastra, Kasful Anwar, H. U. et al. (2022). Ekonomi Moneter. Widina Bhakti Persada Bandung.
Hutapea, G. T., & Malau, M. (n.d.). Pengaruh Suku Bunga, Inflasi, Nilai Tukar, Produk Domestik Bruto, Indeks Dow Jones Dan Covid-19 Terhadap Indeks Harga Saham Gabungan (Ihsg) Di Bursa Efek Indonesia Periode 2015-2020 The Effect Of Interest Rate, Inflation, Exchange Rate, Gross Domestic Product, Dow Jones Index And Covid-19 On Composite Stock Price Index In Indonesia Stock Exchange Period Of 2015-2020. https://www.bi.go.id/
International Monetary Fund. (2021). Indonesia Selected Issues.
Jalil, A., & Ma, Y. (2008). Financial development and economic growth: Time series evidence from Pakistan and China. Journal of Economic Cooperation Among Islamic Countries, 29(2), 29–68.
Jhingan, M. L.?;D. G. (2014). Ekonomi Pembangunan dan Perencanaan (Rajawali (ed.)). PT RajaFrafindo Persada.
Kartika, V. T., & Nugroho, A. B. (2015). Analysis On Electronic Money Transactions On Velocity Of Money In Asean-5 Countries. Journal Of Business And Management, 4(9), 1008–1020.
Khanom, M. S. (2019). Economic Transformation in Bangladesh and the Income Velocity of Broad Money?: An Econometric Analysis 3 . Behavior and Trend of the Money Velocity in Bangladesh. 5(I), 408–417. https://doi.org/https://doi.org/10.32861/jssr.52.408.417
Lahiri, A. (2020). The great Indian demonetization. Journal of Economic Perspectives, 34(1), 55–74. https://doi.org/10.1257/JEP.34.1.55
Mankiw, N. G. (1867). Macroeconomics.
Mishkin, F. S. (2016). The Economics Of Money, Banking and Financial Markets (11th ed.). Pearson.
Moosa, I., & Al, B. (2020). An augmented P ? Star model of US inflation. Eurasian Economic Review, 0123456789. https://doi.org/10.1007/s40822-020-00152-3
Nabid Hassan Kafi. (2020). The Effects of Domestic Electronic Payment System on the Velocity of Money: An Empirical Study on Bangladesh (Vol. 21, Issue 1).
Nampewo, D., & Ã, J. O. (2016). Financial Innovations and Money Velocity in Uganda. African Development Review, 28(4), 371–382. https://doi.org/https://doi.org/10.1111/1467-8268.12218
Okafor, P. N. (2013). Determinants of Income Velocity of Money in Nigeria. 51(1), 29–59.
Pesaran, M. H., Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(3), 289–326. https://doi.org/10.1002/jae.616
Pinno, K., & Serletis, A. (2016). Money , Velocity , and the Stock Market. Open Economies Review. https://doi.org/10.1007/s11079-016-9400-5
Ponsree, K. (2024). QR code payment in Thailand 4.0 era: expand the understanding of perceived susceptibility to COVID-19 in the TAM theory. Current Psychology, 43(26), 22637–22655. https://doi.org/10.1007/s12144-023-05605-x
Popovska-Kamnar, N. (2014). Popovska-Kamnar, Neda The use of electronic money and its impact on monetary policy Standard-Nutzungsbedingungen: The Use Of Electronic Money And Its Impact On Monetary Policy. In Faculty of Economics (Vol. 1, Issue 2). https://hdl.handle.net/10419/147460
Priyatama, A. (2010). Correlation Between Electronic Money And The Velocity Of Money. 11, 1–6.
Riyandi, G. (2012). Meta-Analysis Of Money Demand In Indonesia. https://doi.org/https://doi.org/10.21098/bemp.v15i1.415
Rizkiawan, R. (2021). Digital And Electronic Transactions Against Velocity Of Money. 5(2), 145–155. https://doi.org/10.22495/cgobrv5i2sip3
Saeed, E., & Mohamed, E. (2020). Velocity of Money Income and Economic Growth in Sudan?: Cointegration and Error Correction Analysis. International Journal of Economics and Financial Issues, 10(2), 87–98. https://doi.org/https://doi.org/10.32479/ijefi.8944
Siti Hidayati, Ida Nuryanti, Agus Firmansyah, Aulia Fadly, I. Y. D. (2006). Operasional E-Money.
Sufi Azhari Pambudi*1 M. Khoerul Mubin2. (2020). Analysis The Effect Of Electronic Money Use On Velocity Of Money?: Evidence From Indonesia. JIET (Jurnal Ilmu Ekonomi Terapan), 5(1), 37–52. https://doi.org/10.20473/jiet.v5i1.19626
World Bank Group. (2020). Thailand Economic Monitor, Thailand In The Time Of Covid-19.
Yang, J., & Id, G. Z. (2022). A study on the influence mechanism of CBDC on monetary policy?: An analysis based on e-. PLoS ONE, 1–27. https://doi.org/10.1371/journal.pone.0268471
Zayer, A. H., Talib, T., & Tweel, M. A.-. (2019). The impact of electronic payment systems on the velocity of money circulation. Opcion.
Published
2025-03-11
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