Pengaruh Adopsi Inflation Targeting Framework (ITF) Terhadap Perbaikan Trade Balance
Ruth Meilianna, Sekar Utami Setiastuti, S.E., M.Sc., Ph.D.
2023 | Tesis | S2 Ilmu Ekonomi dan Studi Pembangunan
Studi ini meneliti
pengaruh adopsi Inflation Targeting Framework (ITF) terhadap trade balance di
beberapa negara di dunia. Studi ini menggunakan negara pengadopsi ITF juga
negara yang tidak mengadopsi ITF. Periode waktu yang digunakan adalah
2000-2021. Penelitian ini menggunakan beberapa model estimasi data panel
dinamis. Penelitian ini menggunakan beberapa model data panel dinamis
seperti Fixed Effect Model (FEM), Random Effect Model (REM), Common Effect
Model (CEM), First Difference (FD) GMM dan System GMM. Pada sebagian model,
hasil penelitian menunjukkan ITF tidak mempengaruhi trade balance, sedangkan
pada model One Step FD GMM, Two Step FD GMM, dan One Step System GMM
menunjukkan ITF mempengaruhi trade balance. Hasil estimasi dari penelitian ini
menunjukkan bahwa ITF dapat mempengaruhi trade balance di periode yang sama
maupun dalam lag satu tahun.
This study examines the effect of the adoption of the Inflation Targeting Framework (ITF) on trade balance in several countries around the world. This study uses ITF adopting countries as well as countries that do not adopt ITF. The time period used is 2000-2021. This study uses several dynamic panel data estimation models. This research uses several dynamic panel data models such as Fixed Effect Model (FEM), Random Effect Model (REM), Common Effect Model (CEM), First Difference (FD) GMM and System GMM. In some models, the research results show that ITF does not affect the trade balance, while in the One Step FD GMM, Two Step FD GMM, and One Step System GMM models, it shows that ITF affects the trade balance. The estimation results from this study indicate that ITF can affect the trade balance in the same period or in a one-year lag.
Kata Kunci : Inflasi, Trade Balance, Tingkat Bunga