Pengaruh Digitalisasi Sistem Pembayaran/Perbankan, Surat Berharga Negara Dan Suku Bunga Bi-Rate Terhadap Jumlah Uang Beredar (Broad Money) di Indonesia

Rosyidah, Nasywa Alya (2026) Pengaruh Digitalisasi Sistem Pembayaran/Perbankan, Surat Berharga Negara Dan Suku Bunga Bi-Rate Terhadap Jumlah Uang Beredar (Broad Money) di Indonesia. Undergraduate thesis, UPN Veteran Jawa Timur.

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Abstract

This study was conducted to evaluate the relationship between electronic money, digital banking, Government Securities (SBN), and the BI Rate on the dynamics of the money supply (broad money) in Indonesia. This study employs a quantitative approach using monthly time-series data from 2020 to 2024. The analysis method used is the Vector Error Correction Model (VECM), preceded by stationarity tests, determination of optimal lags, VAR stability tests, and Johansen cointegration tests. The analysis is also supplemented with the Impulse Response Function (IRF) and Variance Decomposition (VD) to strengthen the interpretation of the results. Estimation results indicate that in the long run, electronic money has a positive and statistically significant effect on the money supply. Meanwhile, digital banking, SBN, and the BI-Rate do not show statistically significant effects. In the short run, SBN has a negative and statistically significant effect on the money supply, while electronic money, digital banking, and the BI-Rate do not have significant effects. IRF results indicate that the response of the money supply to shocks from electronic money, digital banking, and SBN tends to be negative, whereas the response to the BI-Rate tends to be positive. VD results show that variations in the money supply are still dominated by internal shocks, with the largest external contribution coming from electronic money.

Item Type: Thesis (Undergraduate)
Contributors:
ContributionContributorsNIDN/NIDKEmail
Thesis advisorWijaya, Riko SetyaNIDN0005018008setyawijaya.ep@upnjatim.ac.id
Subjects: H Social Sciences > HC Economics
Divisions: Faculty of Economic and Business > Departement of Economics
Depositing User: Nasywa Alya Rosyidah
Date Deposited: 24 Jun 2026 03:54
Last Modified: 24 Jun 2026 03:54
URI: https://repository.upnjatim.ac.id/id/eprint/54170

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