INDIKATOR KEBIJAKAN MONETER DAN PERTUMBUHAN EKONOMI INDONESIA SELAMA PANDEMI COVID-19 TAHUN 2020-2022

Aulia Aida Fitri Hasibuan, NIM.: 19108010008 (2023) INDIKATOR KEBIJAKAN MONETER DAN PERTUMBUHAN EKONOMI INDONESIA SELAMA PANDEMI COVID-19 TAHUN 2020-2022. Skripsi thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

Monetary policy is structured as an effort to maintain monetary stability which includes controlling inflation and the money supply and setting BI rates. Without exception in unstable economic conditions. The economic conditions that shaken by the Covid-19 in early 2020 until the end of 2022 required Bank Indonesia as the monetary authority to adopt a fast and responsive strategy in responding to unstable economic conditions due to the Covid-19 pandemic. This research was conducted to analyze the influence of the monetary policy adopted by Bank Indonesia on the level of economic growth in Indonesia during the covid-19 pandemic. The author collects a series of secondary data with monthly frequency and utilizes the bounds test cointegration approach for the Autoregressive Distributed Lag (ARDL) model. The results of the study show that for the 2020-2022 period (during the covid-19 pandemic) based on short-term and long term estimates, inflation has a positive and significant effect on Indonesia's Economic Growth while the BI Rate has a negative and significant effect on Indonesia's Economic Growth. The money supply has a positive and significant effect on Indonesia's economic growth in the short term and has no effect on Indonesia's economic growth in the long term.

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