EFFECT ANALYSIS OF INFLATION, INTEREST RATE, RESERVE REQUIREMENTS AND NON PERFORMING LOANS ON CREDIT GROWTH
Abstract
Abstrak: Bauran kebijakan moneter merupakan salah satu instrumen yang paling diandalkan pada era perekonomian modern. Memaksimalkan perputaran uang dan kredit merupakan kunci akan pertumbuhan dan kemajuan ekonomi negara. Pertumbuhan kredit indonesia selama 10 tahun terakhir cenderung terus menurun dan tidak memenuhi target menandakan adanya bauran kebijakan moneter yang kurang maksimal. Penelitian ini bertujuan untuk mengetahui pengaruh beberapa bauran kebijakan moneter yang paling umum pada era moneter modern, yaitu, Inflasi, BI Rate, Giro Wajib Minimum dan Non Performing Loans. Data dalam bentuk time series dan merupakan data sekunder yang diperoleh dari Bank Indonesia, Badan Pusat Statistik dan Otoritas Jasa Keuangan dari tahun 2009 hingga 2019 sehingga total sampel sebanyak 40. Penelitian ini menggunakan teknik regresi linear berganda dan alat yang digunakan untuk menganalisis penelitian ini menggunakan Eviews 10 dengan tingkat signifikansi 5% (0,05). Hasil penelitian secara parsial menunjukkan bahwa (1) inflasi berpengaruh signifikan terhadap pertumbuhan kredit (2) BI Rate tidak berpengaruh terhadap pertumbuhan kredit (3) Giro Wajib Minimum berpengaruh signifikan terhadap pertumbuhan kredit (4) Non Performing Loans berpengaruh signifikan terhadap pertumbuhan kredit.
Abstract: Monetary policy mix is one of the most frequently used policy in current modern economy. Dictating the flow of credit and money are keys to an proper economic stability. Indonesia's credit growth over the last 10 years tends to continue to decline and does not meet the target, indicating a ineffective monetary policy mix. This study aims to determine the effect of Inflation, BI Rate, Reserves Requirements and Non-Performing Loans. The data is in the form of time series and is secondary data obtained from Bank Indonesia, the Central Statistics Agency and the Financial Services Authority from 2009 to 2019 with total sample of 40. This study uses multiple linear regression techniques and the tools used to analyze this research are Eviews 10 with a significance level of 5% (0.05). The results of the study partially show that (1) inflation has a significant effect on credit growth (2) the BI Rate has no effect on credit growth (3) Reserves requirements has a significant effect on credit growth (4) Non-Performing Loans has a significant effect on credit growth.
Keywords
Full Text:
PDFReferences
ABDI, M. N., RISNAYANTI, R., & ASRIATI, A. (2020). Pengaruh Dana Pihak Ketiga, Car, Dan Npl Terhadap Penyaluran Kredit Pt Btn Tbk. Cabang Makassar. Jurnal Ilmiah Manajemen “E M O R,” 4(1), 62. https://doi.org/10.32529/jim.v4i1.515
Alihodžić, A., & Ekşi, I. H. (2018). Credit growth and non-performing loans: Evidence from Turkey and some Balkan countries. Eastern Journal of European Studies, 9(2), 229–249.
Alkhazaleh, A. M. K. (2017). Factors may drive the commercial banks lending: Evidence from Jordan. Banks and Bank Systems, 12(2), 31–38. https://doi.org/10.21511/bbs.12(2).2017.03
Banu, I. M. (2013). The Impact of Credit on Economic Growth in the Global Crisis Context. Procedia Economics and Finance, 6(February 2007), 25–30. https://doi.org/10.1016/s2212-5671(13)00109-3
Cantú, C., Gondo, R., & Martínez, B. (2019). Reserve requirements as a financial stability instrument. 014(2019), 1–51.
Carrera, C. (2013). The Evolving Role of Reserve Requirements in Monetary Policy. Journal of CENTRUM Cathedra: The Business and Economics Research Journal, 6(1), 10–25. https://doi.org/10.7835/jcc-berj-2013-0079
Collins, J., & Broten, N. (2017). The role of monetary policy. The Role of Monetary Policy, March, 1–93. https://doi.org/10.4324/9781912281091
CUCINELLI, D. (2015). The Impact of Non-performing Loans on Bank Lending Behavior: Evidence from the Italian Banking Sector. Eurasian Journal of Business and Economics, 8(16), 59–71. https://doi.org/10.17015/ejbe.2015.016.04
Demak, U. D. . K., Kumaat, R. J., & Mandeij, D. (2018). Pengaruh Suku Bunga Deposito, Jumlah Uang Beredar, Dan Inflasi Terhadap Nilai Tukar Rupiah Terhadap Dollar. Jurnal Berkala Ilmiah Efisiensi, 18(2), 181–192.
Djati, S. R. R., & Kamal, M. (2017). Analisis Pengaruh ROA, NPL, Suku Bunga Bank Indonesia (BI Rate), dan Pertumbuhan Ekonomi (GDP) terhadap penyaluran Kredit KPR (Studi pada Bank Persero Periode 2011-2015). Diponegoro Journal of Accounting, 6(3), 2337–3792. https://ejournal3.undip.ac.id/index.php/djom/article/viewFile/17462/16715
Fitri, L. (2017). jurnal PENGARUH SUKU BUNGA KREDIT, DANA PIHAK KETIGA (DPK), DAN GIRO WAJIB MINIMUM TERHADAP PENYALURAN KREDIT PADA PT. BANK CENTRAL ASIA, TBK. DI INDONESIA TAHUN 2001-2015. Journal of Chemical Information and Modeling, 110(9), 1689–1699.
Ghosh, A. (2017). Impact of non-performing loans on US product and labor markets. Journal of Financial Economic Policy, 9(3), 302–323. https://doi.org/10.1108/JFEP-01-2017-0003
Gray, S. (2011). Central Bank Balances and Reserve Requirements. IMF Working Papers, 11(36), 1. https://doi.org/10.5089/9781455217908.001
Hall, R. E., & Sargent, T. J. (2018). Short-run and long-run effects of milton friedman’s presidential address. Journal of Economic Perspectives, 32(1), 121–134. https://doi.org/10.1257/jep.32.1.121
Haryanto, S. B., & Widyarti, E. T. (2017). Analisis Pengaruh NIM, NPL, BOPO, BI Rate dan CAR Terhadap Penyaluran Kredit Bank Umum Go Public Periode 2012-2016. Journal of Management, 6(4), 1–11.
Hasnir. (2013). Pengaruh Tingkat Suku Bunga Kredit Terhadap Ermintaan Kredit Modal Kerja (Kmk) Pada Pt. Bank Rakyat Indonesia (Persero) Tbk. Kantor Cabang Jeneponto Di Kabupaten Jeneponto. In Journal of Chemical Information and Modeling (Vol. 01, Issue 01).
Havranek, T., & Rusnak, M. (2013). Transmission Lags of Monetary Policy : International Journal of Central Banking, 9(4), 39–76.
International Monetary Fund. (2011). Policy Instruments to Lean Against the Wind in Latin America. IMF Working Papers, 11(159), 1. https://doi.org/10.5089/9781455297726.001
Jadirman. (2017). PENGARUH CAPITAL ADEQUACY RATIO , RISIKO KREDIT , GIRO WAJIB MINIMUM , PENDAPATAN BUNGA BERSIH TERHADAP ROA PADA PERUSAHAAN PERBANKAN YANG Diajukan Guna Melengkapi Sebagian Syarat Dalam mencapai Gelar Sarjana Strata Satu ( S1 ) PROGRAM STUDI FAKULTAS EKON.
Jahan, S., & Papageorgiou, C. (2014). What is Monetarism? Finance & Development, March, 38–39.
John, T. (2018). Effect of Non-Performing Loans on Bank Performance of Some Selected Commercial Bank in the Nigerian Banking Sector. International Journal of New Technology and Research, 4(4), 263089.
Kileym, M. T. (2014). The aggregate demand effects of short- and long-term interest rates. International Journal of Central Banking, 10(4), 69–104. https://doi.org/10.17016/feds.2012.54
Liang, C. J., Yao, M. L., Hwang, D. Y., & Wu, W. H. (2008). The impact of non-performing loans on bank’s operating efficiency for Taiwan banking industry. Review of Pacific Basin Financial Markets and Policies, 11(2), 287–304. https://doi.org/10.1142/S0219091508001350
Lothian, J. R. (2016). Milton Friedman’s monetary economics : Theory and empirics. October 2015. https://doi.org/10.13140/RG.2.1.3782.3202
Maiti, M., Esson, I. A., & Vuković, D. (2020). The impact of interest rate on the demand for credit in Ghana. Journal of Public Affairs, 20(3). https://doi.org/10.1002/pa.2098
Megawati, I., & Kesuma, I. (2014). Pengaruh Pdrb, Inflasi Dan Dana Pihak Ketiga Terhadap Pertumbuhan Kredit Pt. Bpd Bali. E-Jurnal Manajemen Universitas Udayana, 3(2), 255331.
Otoritas Jasa Keuangan. (2015). Potensi Pertumbuhan Ekonomi ditinjau dari Penyaluran Kredit Perbankan Kepada Sektor Prioritas. Otoritas Jasa Keuangan, 58. https://www.ojk.go.id/id/berita-dan-kegiatan/publikasi/Documents/Pages/Potensi-Pertumbuhan-Ekonomi-ditinjau-dari-Penyaluran-Kredit-Perbankan-Kepada-Sektor-Prioritas/Kajian Kredit - Pertumbuhan Eko (final).pdf
Pengaruh Inflasi, S. B. B. dan K. M. T. T. K. yang D. pada P. T. di B. P. 2012-2014. (2017). Pengaruh Inflasi , Suku Bunga Bank dan Kecukupan Modal Terhadap Total Kredit yang Disalurkan pada Perbankan Terdaftar di BEI Periode 2012-2014.
Putra, A. M. (2018). Pengaruh Inflasi, PDB, dan Suku Bunga Kredit terhadap Penyaluran Kredit Bank Umum di Indonesia ( 2007-2016 ). Jurnal Ilmiah, 9–10.
Putri, Y. M. W. &, & Akmalia, A. (2016). Pengaruh CAR, NPL, ROA dan LDR Terhadap Penyaluran Kredit Pada Perbankan. Journal Balance, XIII(2), 82–93, ISSN Print: 1693-9352, e-ISSN: 2614-820X.
Rompas, W. F. I. (2018). Analisis Pengaruh Tingkat Suku Bunga Dan Nilai Tukar Terhadap Permintaan Kredit Pada Perbankan Di Kota Manado. Jurnal Berkala Ilmiah Efisiensi, 18(2), 204–215.
Rustia, H. N. (2012). Mengukur kesejahteraan. Jurnal Ekonomi Dan Kebijakan Publik, 225–232.
Sipahutar, M. A. (2016). Effects of Credit on Economic Growth, Unemployment and Poverty. Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi Dan Pembangunan, 17(1), 37. https://doi.org/10.23917/jep.v17i1.1651
Tandris, R., Tommy, P., & Murni, S. (2014). Suku Bunga, Inflasi dan Nilai Tukar Pengaruhnya Terhadap Permintaan Kredit Perbankan di Kota Manado. Jurnal Riset Ekonomi, Manajemen, Bisnis Dan Akuntansi, 2(1), 243–253.
Tinoco Zermeno, M. A., Venegas Martinez, F., & Torres Preciado, V. H. (2018). Effects of inflation on financial performance sector: New evidence from panel quantile regressions. Investigacion Economica, 77(303), 94–129.
DOI: https://doi.org/10.21831/jep.v18i2.44100
Refbacks
- There are currently no refbacks.
Citation & Indexing:
This site is licensed under a Creative Commons Attribution-ShareAlike 4.0 International