Electronic Theses and Dissertation

Aset bank sentral merupakan salah satu pengaman mitigasi krisis dari sisi moneter. Penelitian ini akan mencoba melihat peran dari pada aset terhadap variabel surat berharga negara, BI rate, dan cadangan devisa terhadap pertumbuhan ekonomi di Idonesia. Penelitian ini menggunakan data sekunder yang bersumber dari data publikasi instansi terkait seperti Bank Indonesia. Data perekonomian indonesia, surat berharga negara, BI rate, dan cadangan devisa disusun menurut runtun waktu (time series) dengan menggunakan model Autoregressive Distributed Lag (ARDL). Hasil dari penelitian ini adalah surat berharga negara berpengaruh secara positif dan signifikan dalam jangka pendek terhadap pertumbuhan ekonomi dalam konteks mitigasi krisis di Indonesia, BI rate berpengaruh secara negatif dan signifikan dalam jangka pendek terhadap pertumbuhan ekonomi dalam konteks mitigasi krisis di Indonesia, cadangan devisa berpengaruh secara negatif dan signifikan dalam jangka pendek terhadap pertumbuhan ekonomi dalam konteks mitigasi krisis di Indonesia. Untuk jangka panjang surat berharga negara, BI rate, dan cadangan devisa terjadi kointegrasi terhadap pertumbuhan ekonomi. Implementasi dalam penelitian ini bahwa efektivitas penerapan kebijakan moneter yang begitu tinggi, sehingga pemerintah perlu menerapkan kebijakan tersebut untuk dapat meningkatkan pertumbuhan ekonomi.
Kata kunci: Pertumbuhan Ekonomi, SBN, BI Rate, Cadangan Devisa.

Central bank assets are one of the safeguards for mitigating the crisis from the monetary side. This study will try to see the role of assets on the variables of state securities, BI rate, and foreign exchange reserves on economic growth in Indonesia. This study uses secondary data sourced from data published by related agencies such as Bank Indonesia. Data on the Indonesian economy, state securities, BI rate, and foreign exchange reserves are arranged according to time series using the Autoregressive Distributed Lag (ARDL) model. The results of this study are government securities have a positive and significant effect in the short term on economic growth in the context of crisis mitigation in Indonesia, the BI rate has a negative and significant effect in the short term on economic growth in the context of crisis mitigation in Indonesia, foreign exchange reserves have a significant and negative effect on economic growth in the context of crisis mitigation in Indonesia. negative and significant in the short term to economic growth in the context of crisis mitigation in Indonesia. In the long term, government securities, BI rate, and foreign exchange reserves are cointegrated with economic growth. The implementation in this research is that the effectiveness of the implementation of monetary policy is so high, that the government needs to implement the policy in order to increase economic growth. Keywords: Economic Growth, Government Securities, BI Rate, Foreign Exchange Reserves.