ANALISIS FAKTOR – FAKTOR YANG MEMPENGARUHI JUMLAH UANG BEREDAR DI INDONESIA

Abstract

The study aims to employ model of the amount of money circulation in Indonesia and to estimate the influence of the foreign exchange supply, SBI rates, and primary finance towards the amount of circulating money. The time series data is employed, that is quarterly data from 1990.1 – 2007.3 that is from Indonesia Bank and BPS. The analysis instrument used is multiple regressions.

Primary finance variable and SBI rates, based on the study output, shows positive influence towards the amount of money that is circulating.  Foreign exchange supply does not affect significantly towards the amount of money that is circulating in Indonesia. This condition is caused by the system of exchange value employed by Indonesia nowadays is free exchange rate, in which Rupiah’s exchange value is determined by the market mechanism so that there is none or very little Indonesian Bank’s intervention in it.

Key Words: amount  of money circulation, SBI rates, foreign exchange supply.