{"title":"货币政策和国际贸易对东盟四国经济增长和通货膨胀的影响","authors":"R. Astuti, Didit Welly Udjianto","doi":"10.15408/sjie.v11i1.22142","DOIUrl":null,"url":null,"abstract":"Economic growth and price stability are the main goals ofmacroeconomics, among other goals. The central bank can influencethe economy to achieve the desired condition through its monetarypolicy. This study aims to analyze the effect of monetary policy andinternational trade on economic growth and inflation in four ASEANcountries (Indonesia, Malaysia, the Philippines, and Thailand),using panel data analysis and vector autoregression. The impulseresponse results show that monetary policy with an interest rate policyinstrument hurts economic growth in the short run and is positive inthe long run. In the short run, an expansionary monetary policy haseffectively accelerated economic growth, vice versa. International tradepositively affects economic growth in ASEAN-4 countries in the shortrun and vice versa in the long run. Panel data analysis shows a pricepuzzle regarding the effect of interest rates on inflation. Likewise, theeffect of international trade on inflation shows a positive influence.An increase in exports encourages an increase in aggregate demandand prices. The implications of the results of this study are the needfor policy coordination monetary policy, trade policy, and policy inthe real sector so that the effectiveness of monetary policy increases.How to Cite:Astuti, R. D., & Udjianto, D. W. (2022). The Impact of Monetary Policy and International Trade on Economic Growth and Inflation in ASEAN-4 Countries. Signifikan: Jurnal Ilmu Ekonomi, 11(1), 175-190. https://doi.org/10.15408/sjie.v11i1.22142.","PeriodicalId":266329,"journal":{"name":"Signifikan: Jurnal Ilmu Ekonomi","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2022-02-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"The Impact of Monetary Policy and International Trade on Economic Growth and Inflation in ASEAN-4 Countries\",\"authors\":\"R. Astuti, Didit Welly Udjianto\",\"doi\":\"10.15408/sjie.v11i1.22142\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Economic growth and price stability are the main goals ofmacroeconomics, among other goals. The central bank can influencethe economy to achieve the desired condition through its monetarypolicy. This study aims to analyze the effect of monetary policy andinternational trade on economic growth and inflation in four ASEANcountries (Indonesia, Malaysia, the Philippines, and Thailand),using panel data analysis and vector autoregression. The impulseresponse results show that monetary policy with an interest rate policyinstrument hurts economic growth in the short run and is positive inthe long run. In the short run, an expansionary monetary policy haseffectively accelerated economic growth, vice versa. International tradepositively affects economic growth in ASEAN-4 countries in the shortrun and vice versa in the long run. Panel data analysis shows a pricepuzzle regarding the effect of interest rates on inflation. Likewise, theeffect of international trade on inflation shows a positive influence.An increase in exports encourages an increase in aggregate demandand prices. The implications of the results of this study are the needfor policy coordination monetary policy, trade policy, and policy inthe real sector so that the effectiveness of monetary policy increases.How to Cite:Astuti, R. D., & Udjianto, D. W. (2022). The Impact of Monetary Policy and International Trade on Economic Growth and Inflation in ASEAN-4 Countries. Signifikan: Jurnal Ilmu Ekonomi, 11(1), 175-190. https://doi.org/10.15408/sjie.v11i1.22142.\",\"PeriodicalId\":266329,\"journal\":{\"name\":\"Signifikan: Jurnal Ilmu Ekonomi\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2022-02-14\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Signifikan: Jurnal Ilmu Ekonomi\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.15408/sjie.v11i1.22142\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Signifikan: Jurnal Ilmu Ekonomi","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.15408/sjie.v11i1.22142","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1
摘要
经济增长和物价稳定是宏观经济学的主要目标之一。中央银行可以通过其货币政策影响经济以达到预期的状态。本研究旨在运用面板数据分析和向量自回归分析,分析货币政策和国际贸易对四个东盟国家(印度尼西亚、马来西亚、菲律宾和泰国)经济增长和通货膨胀的影响。冲动反应结果表明,利率政策工具下的货币政策在短期内不利于经济增长,在长期内是积极的。从短期来看,扩张性货币政策有效地加速了经济增长,反之亦然。国际贸易对东盟四国经济增长的短期正向影响,对东盟四国经济增长的长期正向影响。面板数据分析显示利率对通货膨胀的影响是一个价格难题。同样,国际贸易对通货膨胀的影响也显示出积极的影响。出口的增加鼓励总需求价格的增加。本文的研究结果表明,货币政策、贸易政策和实体部门政策需要协调,以提高货币政策的有效性。引用方式:Astuti, R. D., & Udjianto, D. W.(2022)。货币政策和国际贸易对东盟四国经济增长和通货膨胀的影响。[j] .经济研究,2011(1),175-190。https://doi.org/10.15408/sjie.v11i1.22142。
The Impact of Monetary Policy and International Trade on Economic Growth and Inflation in ASEAN-4 Countries
Economic growth and price stability are the main goals ofmacroeconomics, among other goals. The central bank can influencethe economy to achieve the desired condition through its monetarypolicy. This study aims to analyze the effect of monetary policy andinternational trade on economic growth and inflation in four ASEANcountries (Indonesia, Malaysia, the Philippines, and Thailand),using panel data analysis and vector autoregression. The impulseresponse results show that monetary policy with an interest rate policyinstrument hurts economic growth in the short run and is positive inthe long run. In the short run, an expansionary monetary policy haseffectively accelerated economic growth, vice versa. International tradepositively affects economic growth in ASEAN-4 countries in the shortrun and vice versa in the long run. Panel data analysis shows a pricepuzzle regarding the effect of interest rates on inflation. Likewise, theeffect of international trade on inflation shows a positive influence.An increase in exports encourages an increase in aggregate demandand prices. The implications of the results of this study are the needfor policy coordination monetary policy, trade policy, and policy inthe real sector so that the effectiveness of monetary policy increases.How to Cite:Astuti, R. D., & Udjianto, D. W. (2022). The Impact of Monetary Policy and International Trade on Economic Growth and Inflation in ASEAN-4 Countries. Signifikan: Jurnal Ilmu Ekonomi, 11(1), 175-190. https://doi.org/10.15408/sjie.v11i1.22142.