ANALISIS PENGARUH KEBIJAKAN QUANTITATIVE EASING AMERIKA SERIKAT TERHADAP INVESTASI INDONESIA TAHUN 2006:1 – 2016: IV

Abstract

This study aims to analyze the influence of US quantitative easing policy on investment indicators in Indonesia. Indonesia's investment indicators use foreign direct investment (FDI), composite stock price index (IHSG), and exchange rate from quarter I in 2006 to fourth quarter of 2016. This research uses vector error correction model (VECM). The VECM estimates show that US quantitative easing has short-term and long-term effects on foreign direct investment (FDI), composite share price index, and real exchange rate. Based on the Impulse Response function (IRF) the composite stock price index (IHSG) has a negative influence in the period 1 to 5, while the foreign direct invesment (FDI) and real exchange rate have a positive influence in the period 1 to 5. Through this research, using monetary policy to minimize the impact of quantitative easing policies.

Keyword: quantitative easing, foreign direct investment, stock price,real exchange ratel