The Effect of Inflation on Gross Domestic Product with Interest Rates as a Moderating Variable


International Research Journal of Economics and Management Studies
© 2023 by IRJEMS
Volume 2  Issue 1
Year of Publication : 2023
Authors : Rosyadi, Sukma Indra, Muz'an Sulaiman, Sari Rusmita
irjems doi : 10.56472/25835238/IRJEMS-V2I1P106

Citation:

Rosyadi, Sukma Indra, Muz'an Sulaiman, Sari Rusmita. "The Effect of Inflation on Gross Domestic Product with Interest Rates as a Moderating Variable" International Research Journal of Economics and Management Studies, Vol. 2, No. 1, pp. 40-49, 2023.

Abstract:

Economic development in a nation primarily attempts to bring about the wealth of its citizens through rapid economic growth, and there is a strong relationship between national and regional development in order to create a robust, robust, and equitable economy. With interest rates acting as a moderate variable, this study seeks to examine how Indonesia's GDP is affected by inflation. The research sample is GDP, inflation and interest rates in Indonesia from 1968 to 2018 (32 years). Regression with moderation served as the study's analytical strategy. Inflation affects the Gross Domestic Product (GDP), however it has no impact on the GDP when interest rates are used as a moderating factor for inflation, according to the research's findings (GDP).

References:

[1] Barro, R. 1996. Inflation and Growth. Federal Reserve Bank of St. Louis Review. vol. 78, pp. 153-169.
[2] Bruno, M. and W. Easterly, 1998. Inflation crises and long-run growth, Journal of Monetary Economics, vol. 41, pp. 3-26.
[3] Budiono. 2008. Ekonomi Makro. Yogyakarta: BPFE-Yogyakarta.
[4] Fischer, S., 1993. The role of macroeconomic factors in economic growth, Journal of Monetary Economics, vol. 32, pp. 485 -512.
[5] Mallik, G. and A. Chowdhury. 2001. Inflastion and Economic Growth: Evidence in Four South Asian Countries. Asia-Pacific Development Journal, Vol 8, No. 1, June 2001.
[6] McEachern, W. A. 2000. Ekonomi Makro Pendekatan Kontemporer. Jakarta: Salemba Empat.
[7] Mishkin, S.Frederic. 2008, Ekonomi Uang, Perbankan dan Pasar Keuangan, Salemba Empat.Jakarta.
[8] Murni, Asfia. 2006. Ekonomika Makro. Yogyakarta: Refika Aditama.
[9] Murni, Asfia. 2013. Ekonomika Makro. Edisi Revisi. Bandung : PT. Refika
[10] Murwani, Sri. 2007. Analisis Kebijakan Moneter Kaitannya Dengan Penanaman Modal Asing: Pendekatan Taylor Rule. Tesis. Program Pascasarjana Universitas Diponegoro Semarang. Semarang.
[11] Natsir, Muhammad. 2014, Ekonomi Moneter dan Ke Bank Sentralan, Jakarta: Mitra Wacana Media.
[12] Pratiwi, Nabilla Mardiana. 2015. Pengaruh Inflasi, Tingkat Suku Bunga SBI, dan Nilai Tukar terhadap Penanaman Modal Asing dan Pertumbuhan Ekonomi di Indonesia (Tahun 2004 sampai dengan Tahun 2013). Malang.
[13] Prasetyo, P. E. 2009. Fundamental Makro Ekonomi. Yogyakarta: Beta Offset.
[14] Rahardja, Prathama & Manurung, Mandala. 2008. Teori Ekonomi Makro; Suatu Pengantar, Edisi Keempat. Jakarta:Lembaga Penerbit Fakultas Ekonomi Universitas Indonesia
[15] Ratnasari, Ratih. 2016. Analisis Pengaruh Penerimaan Pajak, Belanja Pembangunan/Modal, dan Tingkat Inflasi Terhadap Pertumbuhan Ekonomi Indonesia Tahun 1979 – 2014. Semarang.
[16] Samuelson dan Nordhaus. 2004. Ilmu Makro Ekonomi. Jakarta: Media Global Edukasi.
[17] Sukirno, Sadono. 2006. Makro Ekonomi. Jakarta: PT Raja Grafindo Persada
[18] Sukirno, Sadono. 2008. Pengantar Teori Makro Ekonomi. Jakarta: PT Raja Grafindo Persada.
[19] Sukirno, Sadono. 2013. Makro Ekonomi, Teori Pengantar. Jakarta : PT Raja Grafindo
[20] Sugiyono, 2012. Statistik Untuk Penelitian. Bandung: Alfabeta.
[21] Suseno dan Astiyah. 2009. Inflasi. Jakarta: Pusat Pendidikan dan Studi Kebanksentralan (PPSK) Bank Indonesia.
[22] Suparmoko, 2000. Pengantar Makro Ekonomi .Yogyakarta : BPFE – UGM
[23] Trading Economic. 2020. Inflasi Negara Asia. www.tradingeconomics.com
[24] GDP Negara Asia. www.tradingeconomics.com
[25] Utami, Ayu Mita. 2012. Pengaruh Investasi dan Pertumbuhan Ekonomi terhadap Pendapatan Asli Daerah (Studi Kasus di Pemerintahan Kota Tasikmalaya). EJournal: Fakultas Ekonomi Universitas Siliwangi.
[26] Widarjono, A. 2018. Ekonometrika Pengantar dan Aplikasinya. Yogyakarta: UPP STIM YKPN.

Keywords:

GDP, Inflation, Interest Rates.