Dampak Kebijakan Moneter Terhadap Hukum Perbankan: Analisis dan Implikasi Studi Pada Dampak Pandemi COVID-19 Terhadap Pasar Keuangan Indonesia
DOI:
https://doi.org/10.61722/jmia.v1i6.2983Keywords:
COVID-19, monetary policy, Financial markets, Indonesia Economic stabilityAbstract
The COVID-19 pandemic has had a significant impact on the global economy, including Indonesia, by facing major challenges in financial markets and monetary policy. This study explores how this crisis has affected five major financial markets in Indonesia: the Rupiah (IDR) interbank money market, the US Dollar (USD) interbank money market, the government bond (SUN) market, the stock market, and the USD/IDR spot market. The method used is desk research that collects data from various relevant literature sources. The results of the study show that interest rate policy has a significant impact on the IDR and USD interbank money markets, while the IDR minimum GWM ratio affects medium-term SUN yields and the stock market sector index. However, the impact of BI's market operations is mostly insignificant. In addition, certain policy measures show an increased impact during the pandemic, especially in the IDR and SUN interbank money markets. This study recommends that the central bank implement a more expansionary monetary policy and consider market behavior that is responsive to pandemic news. A combination of alternative monetary strategies and fiscal actions can improve post-pandemic economic stability
References
CIQnR, S. A., S. E. ,. M. Si ,. CH ,. CHt ,. CIQaR. (2022). PENGANTAR KEBANKSENTRALAN. CV. Green Publisher Indonesia.
Fakhri, N. S., Idris, A. Z., Septiyanti, R., & Widiyanti, A. (2024). Dampak Financial Performance dan Makroekonomi Pada Fenomena Fluktuasi Harga Saham Sektor Perbankan Berbasis Digital Di Indonesia Periode 2020-2023. Economics and Digital Business Review, 5(2), Article 2. https://ojs.stieamkop.ac.id/index.php/ecotal/article/view/1852
Handayani, F. A., & Kacaribu, F. N. (2021). ASYMMETRIC TRANSMISSION OF MONETARY POLICY TO INTEREST RATES: EMPIRICAL EVIDENCE FROM INDONESIA. Bulletin of Monetary Economics and Banking, 24(1), 119–150. https://doi.org/10.21098/bemp.v24i1.1201
Hariyanto, E. (2020). Mewaspadai Terulangnya Krisis Ekonomi 1998 & Upaya Pencegahannya. @jualinbukumu.
Ibrahim, M. B., Sari, F. P., Kharisma, L. P. I., Kertati, I., Artawan, P., Sudipa, I. G. I., Simanihuruk, P., Rusmayadi, G., Muhammadiah, M., Nursanty, E., & Lolang, E. (2023). METODE PENELITIAN BERBAGAI BIDANG KEILMUAN (Panduan & Referensi). PT. Sonpedia Publishing Indonesia.
Ivanka, R. Z., Safitri, A., & Rahma, F. (2024). PERAN BANK SENTRAL MENDORONG PEREKONOMIAN DAN JUMLAH UANG BEREDAR MELALUI KEBIJAKAN MONETER DI INDONESIA TAHUN 2019-2023 MENURUT PERSPEKTIF SYARIAH. Jurnal Ekonomi Manajemen, 28(5), Article 5. https://jurnalhost.com/index.php/jekma/article/view/1092
Jannah, E. F. (2023). Analisis Kebijakan Moneter Bank Indonesia Pada Masa Pandemi Covid-19. Journal of Economics and Social Sciences (JESS), 2(1), Article 1. https://doi.org/10.59525/jess.v2i1.134
Laras, L. S. (2024, January 17). EFEKTIVITAS DAN KONTRIBUSI SURAT BERHARGA NEGARA TERHADAP PEMBIAYAAN DEFISIT ANGGARAN PENDAPATAN DAN BELANJA NEGARA DI INDONESIA TAHUN 2012 – 2021 [Skripsi]. FAKULTAS EKONOMI DAN BISNIS. http://digilib.unila.ac.id/78965/
Matondang, C. (2024). Kebijakan Moneter Terkini: Implikasi bagi Investasi dan Konsumsi Domestik. Circle Archive, 1(5), Article 5. http://www.circle-archive.com/index.php/carc/article/view/188
Maulidda, M. (2021). ANALISIS KINERJA BANK SENTRAL DALAM MENJAGA KESTABILAN NILAI TUKAR RUPIAH DI BIDANG MONETER [Diploma, Politeknik Harapan Bersama Tegal]. http://eprints.poltektegal.ac.id/657/
Meissner, C. M., & Molnar-Tanaka, K. (2024). Capital Flow Stability and Policy Challenges in Southeast Asia: Historical Perspectives from the 19th to the 21st Century (Working Paper 33145). National Bureau of Economic Research. https://doi.org/10.3386/w33145
M.E.Sy, M. K., S. E. (2021). Bank dan Lembaga Keuangan Syariah (Teori dan Aplikasi). Penerbit Adab.
M.M, D. E. I., S. E., M.E, D. I., S. E., M.M, N. P. L., S. E., M.Si, D. S. R., M.Si, Y. M., S. E., M.M, D. S., S. S., M.Si, D. N. I., S. E., M.M, K., S. S., M.M, L. W., & MBA, D. E. N., S. E. (2024). KEUANGAN INTERNASIONAL DAN PERDAGANGAN GLOBAL. Cendikia Mulia Mandiri.
M.Si, D. H. L. S. S., S. E., M.M, L. H. K., S. E., M.Si, H. S., S. E., M.Si, D. H. S., S. E., M.M, E. M., S. IP, S.E, E. Z. S., M.M, H. F., S. ST, M.Si, H. B. H., S. E., M.E.K, M. I., S. E., & M.E, D. I., S. E. (2024). EKONOMI MAKRO LANJUTAN. Cendikia Mulia Mandiri.
Neely, M. T., & Carmichael, D. (2021). Profiting on Crisis: How Predatory Financial Investors Have Worsened Inequality in the Coronavirus Crisis. American Behavioral Scientist, 65(12), 1649–1670. https://doi.org/10.1177/00027642211003162
Ningsih, S. (2021). DAMPAK DANA PIHAK KETIGA BANK KONVENSIONAL DAN BANK SYARIAH SERTA PERTUMBUHAN EKONOMI DI INDONESIA. Penerbit Widina.
Pratiwik, E., & Prajanti, S. D. W. (2023). Rupiah exchange rate: The determinants and impact of shocks on the economy. Jurnal Ekonomi & Studi Pembangunan, 24(1), Article 1. https://doi.org/10.18196/jesp.v24i1.18016
Rahmawati, F. N., Asmarani, H., Asriningtyas, I., & Sujianto, A. E. (2023). Penguatan Pertumbuhan Ekonomi Melalui Asuransi Syariah Di Indonesia. Jurnal Bintang Manajemen, 1(2), Article 2. https://doi.org/10.55606/jubima.v1i2.1459
Rauf, F. S., & Arifin, M. Z. (2024). Hubungan Sistem Perbankan Syariah dan Pertumbuhan Ekonomi di Dubai, Uni Emirat Arab. Co-Value Jurnal Ekonomi Koperasi Dan Kewirausahaan, 15(4), Article 4. https://doi.org/10.59188/covalue.v15i4.4320
Santoso, T., Sapulette, M. S., Dyana, D., Akbar Dwiputra, M. F., & Muftiadi, A. (2023, December 1). TRANSMISI DAMPAK PANDEMI COVID-19 PADA STABILITAS BANK: STUDI KASUS PERBANKAN DI INDONESIA DI AWAL PANDEMI. | EBSCOhost. https://doi.org/10.24198/adbispreneur.v8i3.47673
Sartono, S., Winarni, E., Barika, B., Septriani, S., Purnamaningrum, T. K., Pracoyo, A., Kusumastuti, S. Y., Raysharie, P. I., & Hariyono, H. (2024). Buku Ajar Teori Ekonomi Makro. PT. Sonpedia Publishing Indonesia.
Simbolon, J. P. (2022). ANALISIS PENGARUH PRODUK DOMESTIK BRUTO, SUKU BUNGA DAN INFLASI TERHADAP JUMLAH UANG BEREDAR DI INDONESIA TAHUN 2005-2021. https://repository.uhn.ac.id/handle/123456789/7490
Sugianto, D. (n.d.). Perjalanan IHSG Sejak RI Positif Virus Corona. detikfinance. Retrieved November 20, 2024, from https://finance.detik.com/bursa-dan-valas/d-4972595/perjalanan-ihsg-sejak-ri-positif-virus-corona
Sztanó, G. (2024). Monetary Policy Spillovers – The Impact of Advanced Central Banks’ Decisions on Emerging Financial Markets [Phd, Budapesti Corvinus Egyetem]. https://doi.org/10.14267/phd.2024033
Teapon, A. F. (2024). PENGARUH INFLASI TERHADAP PROFITABILITAS BANK BUMN DENGAN SUKU BUNGA BANK INDONESIA 7-DAY REPO RATE SEBAGAI VARIABEL INTERVENING [Diploma, IAIN MANADO]. https://repository.iain-manado.ac.id/1886/
Downloads
Published
Issue
Section
License
Copyright (c) 2024 JURNAL MULTIDISIPLIN ILMU AKADEMIK
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
