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Tingkat mobilitas kapital : Sebuah studi empirik di Indonesia
One of central issue in earlier 1980s is about international capital mobility, especially since Feldtein and Horioka (1980) approach in the emperical framework.The Feldstain and Horioka measured international capital mobility from coefficient of gross domestic product of domestic saving values over its investment. In the further development, several international economist disagreed with Feldstein and Horioka (1980) approach. Sach's (1981; 1983). Proposed the measurement of international capital mobility from thr share of gross domestic product of domestic investment value (and domestic saving value) over total current account in gross domestic product. The objective of this paper : (1) describe capital mobility based on Feldstein and Horioka (1980) dan Jeffrey D. Sachs's aproach and (2) employe Jeffrey D. Sachs's for evidence about capital mobility in Indonesia for the period of 1970-1998. Tools of analysis in this paper are cointegration test, Engle-Granger Error Correction Model (EG-ECM) and Forward Looking Model error Correction Model with Rational Expectation (F-ECM). The emperical results with using EG-ECM and F-ECM shows that Sachs's approach proved useful to identify the degree of capital mobility in Indoensia over 1970-1998. The emperical result of EG-ECM and F-ECM for Sachs firs approach fail to identify degree of capital mobility in Indoensia. However, using second approach the emperical result of EG-ECM and F-ECM shows that in the short-run capital mobility in Indonesia is hearly perfect-from Indonesia to foreign, but in the long-run is imperfect capital mobility. Morever, using JM tes, it indicates that EG-ECM is superior than F-ECM for explaining capital mobility in Indonesia. .Baca di tempat
Ketersediaan
| Call Number | Location | Available |
|---|---|---|
| EKI-XLIX-1-2001 | PSB lt.dasar - Pascasarjana | 1 |
| Penerbit | : Lembaga Penyelidikan Ekonomi dan Masyarakat FEUI |
|---|---|
| Edisi | - |
| Subjek | Capital mobility |
| ISBN/ISSN | 01260155X |
| Klasifikasi | - |
| Deskripsi Fisik | - |
| Info Detail Spesifik | - |
| Other Version/Related | Tidak tersedia versi lain |
| Lampiran Berkas | Tidak Ada Data |