PENGARUH INTERMEDIASI PERBANKAN TERHADAP PERTUMBUHAN EKONOMI INDONESIA

Indra Suhendra, Edwin Ronaldo

Abstract


This study aims to discuss banking as a financial intermediary institution in increasing economic growth. The banking intermediation variable in this study is measured by two variables, namely the ratio of credits per Real GDP and the ratio of third party funds to Real GDP. In addition to financial variables, also used control variables to economic growth is BI-rates. The data used are 1stquarter 2007to 4thquarter 2014. This study uses a cointegration test of the Autoregressive Distributed Lag (ARDL) approach to prove the long-term effects between variables and error correction models (ECM) to see how quickly the economy returns to a balanced state when there is a short-term shock. The result shows that there is a long-term relationship between variables, where the ratio of credits per Real GDP, third party funds to Real GDP, and BI-rates have a positive and significant impact on Indonesia's economic growth, both in the long term and short term

Keywords


banking intermediary; economic growth; Autoregressive Distributed Lag; and error correction model

Full Text:

PDF

References


Beck, dan Loayza dan Levine. 1999. A new database on financial development and structure. World Bank Working paper No. 2146 (June 1999).

Beck, T. Levine, R. dan Loayza, N. (2000). Financial Intermediation and Growth: Causality and Causes. Journal of Monetary Economics 46 (1), pp. 31-77.

Benhabib and Spiegel (2000). The role of Financial Development in Growth and Investment. Journal of Economic Growth, Vol 5, pp. 341-360.

Bencivenga, V. R., dan B. D. Smith. 1991. Financial Intermediation and Endogeneous Growth. Review of Economics Studies. Maret 1991, Vol. 58: hal. 195-209

Berglof E., Bolton P. 2002. The Great Divide and Beyond: Financial Architecture in Transition, The Journal of Economic Perspectives, 16 (1), 77-100.

Boyd, H. John., dan Prescott, C. Edward. 1986. Financial Intermediary-Coalitions. Journal of Economic Theory”, April 1986, Vol. 38 (2), hal. 211-232.

Caporale, Guglielmo Maria, Christophe Rault, Robert Sova, dan

Anamaria Sova. 2009. Financial Development and Economic Growth: Evidence from Ten New EU Members. Economics and Finance Working Paper No. 09-37.

Carter, Selina Howe. 2013. Financial Intermediation, Growth, and Microfinance in Turkey: A Quantitative Study. Economics – Theses. Syracuse University.

Christopoulos dan Tsionas (2004). Financial development and economic growth: evidence from panel unit root and cointegration tests. Journal of Development Economics 73 (2004) pp. 55-74

Genevieve Boyreau-Debray, Financial Intermediation and Growth; Chinese Style; Policy Research Working Paper, Vol. 3027, pp. 1-25

Goldsmith, R. W. 1969. Financial Structure and Development. New Haven, CT: Yale University Press.

Greenwood, Jeremy dan Jovanovic, Boyan. 1989. Financial Development, Growth, and the Distribution of Income. Journal of Political Economy, National Bureu of Economic Research (Cambridge, MA) Working Paper No. 3189, 1989.

Gujarati, Damodar. 1995. Dasar-dasar Ekonometrika. Jakarta: Salemba Empat.

Jalil, Abdul. Ma, Ying. 2008. Financial Development, Economic Growth and Adaptive Efficiency: A Comparison between China and Pakistan” China & World Economy, Nov 2008, Vol. 16(6), 97-111.

Kashyap, K. Anil, dan Rajan, Raghuram G., dan Stein, C. Jeremy, 2002. Banks as Liquidity Providers: An Explanation for the Co-Existence of Lending and Deposit-Taking. The Journal of Finance, Feb 2002, Vol 57 (1), hal 33 – 73.

Kenourgios D., Samitas A. 2007. Financial Development and Economic Growth in a Transition Economy: Evidence for Poland. Journal of Financial Decision Making, 3, (1), 35-48.

King, G. Robert dan Levine, Ross. 1993. Financial Intermediation and Economic Development”, Capital Markets and Financial Intermediation: Edited Colin Mayer and Xavier Vives. Cambridge University Press, hal. 156-189.

Kunt, Asli Demirgüç dan Huizinga, Harry, 1999. Determinants of Commercial Bank Interest Margins and Profitability: Some International Evidence, Policy Research Working Papers.

Levine, Ross, 2002. Bank-Based or Market-Based Financial System: Which Is Better?. Journal of Financial Intermediation, Oktober 2002, Vol. 11 (4), hal. 398-428.

Levine, Ross, dan Sara Zervos, 1998. Stock Markets, Banks, and Economic Growth. American Economic Review; V.88, pp. 537-558.

Miller, H. Merton, 1998. Financial Markets and Economic Growth, Journal of Applied Corporate Finance September 1998, Vol. 11 No. 3 (Fall 1998), pages 8 - 14

Miranda S. Goeltom, 2008. The Transmission Mechanism of Monetary Policy in Indonesia. BIS Paper No. 35, 2008.

Mishkin, S. Frederic. 2008. The Economics of Money, Banking, and Financial Markets. Boston: Pearson Addison Wesley.

Nor Hakimah Haji Mohd Nor. 2015. Financial Development and Economic Growth: A Survey of Literature. Proceeding of the 2nd International Conference on Management and Muamalah 2015 (2nd ICoMM) 16th – 17th November 2015, e-ISBN: 978-967-0850-25-2.

Patrick, T. Hugh. 1966. Financial Development and Economic Growth in Underdeveloped Countries. Economic Development and Cultural Change, January 1966, Volume 14 (2), pages 174-189.

Pesaran, M. Hashem, dan Pesaran, Bahram. 1997. Working with Microfit 4.0: Interactive Econometric Analysis. Oxford, Oxford University Press.

Pesaran, M. Hashem, dan Shin, Yongcheol., dan Smith, J. Richad. 2001. Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics. Mei 2001, Vol. 16 (3), hal. 289 – 326.

Renniwaty Siringoringo, 2012. Karakteristik dan Fungsi Intermediasi Perbankan di Indonesia. Buletin Ekonomi Moneter dan Perbankan, Vol. 15 (1), Juli 2012, hal. 61.

Rousseau, P.L dan P. Wachtel. 1998. Financial Intermediation and Economic Performance: Historical Evidence from Five Industrialized Countries. Journal of Money, Credit and Banking, Vol. 30, pp. 657-678.

Siamat Dahlan. 2001. Manajemen Lembaga Keuangan. Edisi ketiga. Lembaga Penerbit FE-UI. Jakarta.

Thiel, Michael. 2001. Finance and Economic Growth - a Review of Theory and the Available Evidence. Economic Paper, Number 158, July 2001.




DOI: http://dx.doi.org/10.35448/jte.v12i1.4443

Refbacks

  • There are currently no refbacks.


Copyright (c) 2017 Tirtayasa Ekonomika

View My Stats