RELATIONSHIP BETWEEN ELECTRONIC MONEY AND GROWTH IN INDONESIA
Main Article Content
Fitriyani
Rezky Hermawan
Nadia Safitri
Money including electronic money has a very important role for growth, especially in revolution industry 4.0. era. The success of the digital payment system has supported the development of the financial and banking system. This study aims to analyze the relationship between e-money, M2, and economic growth in Indonesia from 2012 January to 2021 December. Granger causality test and Error Correction Model are used in this model to analyze the relationship between variables in this study. The results of the granger causality test shows that e-money and money have one-way relationship with growth. Furthermore, money shows a positive and significant effect on growth, while e-money does not have a significant effect. Coefficient of error term shows a negative and significant effect implies that the model in this study is converging to equilibrium and stable. Therefore, it is recommended for the government to increase the use of money including e-money to enhance the economy.
Agustin, D. P. (2021). Analisis Pengaruh Tingkat Kurs dan Suku Bunga Bank Indonesia Dengan Jumlah Uang Beredar, Terhadap Tingkat Inflasi di Indonesia. Jurnal Ekonomi Pembangunan Institut Bisnis Muhammadiyah Bekasi, 2(1), 33–46.
Ambarwati, A. D., Sara, I. M., & Aziz, I. S. A. (2021). Pengaruh Jumlah Uang Beredar (JUB), BI Rate dan Inflasi Terhadap Pertumbuhan Ekonomi di Indonesia Periode 2009-2018. Warmadewa Economic Development Journal (WEDJ), 4(1), 21–27.
Asnawi, A., & Fitria, H. (2018). Pengaruh Jumlah Uang Beredar,Tingkat Suku Bunga dan Inflasi Terhadap Pertumbuhan Ekonomi di Indonesia. Jurnal Ekonomika Indonesia, 7(1), 24.
Basmar, E., Sartika, S. H., Suleman, A. R., Faried, A. I., Damanik, D., Amruddin, A., Purba, B., Wisnujati, N. S., & Nugraha, N. A. (2021). Ekonomi Pembangunan: Strategi dan Kebijakan. Yayasan Kita Menulis.
Budiyanto, V., & Wibowo, W. (2021). Pengaruh Kebijakan Moneter Terhadap Pertumbuhan Ekonomi (Studi Kasus Negara Indonesia). Jurnal Ilmiah MEA (Manajemen, Ekonomi, Dan Akuntansi), 5(1), 988–999.
Hussain, M. I., & Zafar, T. (2018). The Interrelationship between Money Supply, Inflation, Public Expenditure and Economic Growth. European Online Journal of Natural and Social Sciences, 7(1), 1–24.
Muhammad, M. (2014). Cointegration and ECM Estimation on Time Series Data. Jurnal Konvergensi, 4(1), 41–51.
Mutia, K. A., Indrawati, L. R., & Sarfiah, S. N. (2020). Pengaruh Pengeluaran Pemerintah dan Jumlah Uang beredar Terhadap Produk Domestik Bruto Indonesia Tahun 2004-2018. DINAMIC : Directory Journal of Economic, 1(1), 114–126.
Nazamuddin. (2020). Memahami Makroekonomi Melalui data dan Fakta. Syiah Kuala University Press. Banda Aceh.
Noer Diana, F., Kurniasari, W., Studi, P. S., & Pembangunan, E. (2021). Analisis Pengaruh Instrumen Pembayaran Non-Tunai Terhadap Pertumbuhan Ekonomi Indonesia. Buletin Ekonomika Pembangunan, 2(2), 116–133.
Ogunmuyiwa, M. S., & Ekone, A. F. (2010). Money Supply - Economic Growth Nexus in Nigeria. Journal of Social Sciences, 22(3), 199–204.
Omodero, C. O. (2019). Effect of Money Supply on Economic Growth: A Comparative Study of Nigeria and Ghana. International Journal of Social Science Studies, 7(3), 16–23.
Pambudi, E. W. (2013). Analisis Pertumbuhan Ekonomi dan Faktor-Faktor Yang Mempengaruhi (Kabupaten/Kota di Provinsi Jawa Tengah. Diponegoro Journal of Economics, 2(2), 1–76.
Putro, N. S. (2011). Pengaruh Pertumbuhan Ekonomi, Pendapatan Asli Daerah Dan Dana Alokasi Umum Terhadap Pengalokasian Anggaran Belanja Modal (Study Kasus Pada Kabupaten/Kota Di Provinsi Jawa Tengah). In Universitas Diponegoro Semarang.
Qori’ah, C. G., Indrawati, Y., Wardhono, A., & Nasir, M. A. (2020). Dampak Perkembangan Uang Elektronik terhadap Efektivitas Kebijakan Moneter di Indonesia. Jurnal Ekonomi Indonesia, 9(3), 265–277.
Savitri, C., Faddila, S. P., Irmawartini, Iswari, H. R., Anam, C., Syah, S., Mulyani, S. R., Sihombing, P. R., Kismawadi, E. R., Pujianto, A., Mulyati, A., Astuti, Y., Adinugroho, W. C., Imanuddin, R., Kristia, A. N., & Siregar, M. T. (2021). Statistik Multivariat dalam Riset. Widina Bhakti Persada. Bandung.
Sitompul, P. N. (2022). Analisis Pertumbuhan E-money Terhadap Pertumbuhan Ekonomi Indonesia. 4(1), 1–15.
Susilawati, & Putri, D. Z. (2019). Analisis Pengaruh Transaksi Non-Tunai dan Suku Bunga BI Terhadap Pertumbuhan Ekonomi di Indonesia. Jurnal Kajian Ekonomi Dan Pembangunan, 1(2), 667–678.
Usman, R. (2017). Karakteristik Uang Elektronik. Yuridika, 32(1), 134–166.
Wijaya, A. Y., Mukhlis, I., & Seprillina, L. (2021). Analisis pengaruh E-money, volume transaksi elektronik dan suku bunga terhadap jumlah uang beredar di Indonesia pada masa sebelum dan sesudah pandemi COVID-19. Jurnal Ekonomi, Bisnis Dan Pendidikan, 1(2), 135–145.
Wilantari, R. N., & Priyanto, E. (2021). Macroeconomic Variables and The Growth of E-money on Inflation in Indonesia. Tamansiswa Accounting Journal International, 1(1), 55–60.
Nur Ilham, R. ., Arliansyah, A., Juanda, R., Multazam, M. ., & Saifanur, A. . (2021). RELATHIONSIP BETWEEN MONEY VELOCITY AND INFLATION TO INCREASING STOCK INVESTMENT RETURN: EFFECTIVE STRATEGIC BY JAKARTA AUTOMATED TRADING SYSTEM NEXT GENERATION (JATS-NG) PLATFORM. International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS), 1(1), 87–92. https://doi.org/10.54443/ijebas.v1i1.27
Yusuf Iis, E., Wahyuddin, W., Thoyib, A., Nur Ilham, R., & Sinta, I. (2022). THE EFFECT OF CAREER DEVELOPMENT AND WORK ENVIRONMENT ON EMPLOYEE PERFORMANCE WITH WORK MOTIVATION AS INTERVENING VARIABLE AT THE OFFICE OF AGRICULTURE AND LIVESTOCK IN ACEH. International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS), 2(2), 227–236. https://doi.org/10.54443/ijebas.v2i2.191
Geovani, I. ., Nurkhotijah, S. ., Kurniawan, H. ., Milanie, F., & Nur Ilham, R. . (2021). JURIDICAL ANALYSIS OF VICTIMS OF THE ECONOMIC EXPLOITATION OF CHILDREN UNDER THE AGE TO REALIZE LEGAL PROTECTION FROM HUMAN RIGHTS ASPECTS: RESEARCH STUDY AT THE OFFICE OF SOCIAL AND COMMUNITY EMPOWERMENT IN BATAM CITY. International Journal of Educational Review, Law And Social Sciences (IJERLAS), 1(1), 45–52. https://doi.org/10.54443/ijerlas.v1i1.10
Bustani, B., Khaddafi, M. ., & Nur Ilham, R. (2022). REGIONAL FINANCIAL MANAGEMENT SYSTEM OF REGENCY/CITY REGIONAL ORIGINAL INCOME IN ACEH PROVINCE PERIOD YEAR 2016-2020. International Journal of Educational Review, Law And Social Sciences (IJERLAS), 2(3), 459–468. https://doi.org/10.54443/ijerlas.v2i3.277
Nur Ilham, R., Heikal, M. ., Khaddafi, M. ., F, F., Ichsan, I., F, F., Abbas, D. ., Fauzul Hakim Hasibuan, A. ., Munandar, M., & Chalirafi, C. (2021). Survey of Leading Commodities Of Aceh Province As Academic Effort To Join And Build The Country. IRPITAGE JOURNAL, 1(1), 13–18. https://doi.org/10.54443/irpitage.v1i1.19
Sinta, I. ., Nur Ilham, R., Kumala Sari, D. ., M, M., Khaidir, K., & Ekamaida, E. (2021). Training The Processing Of Tomato Sauce For A Home-Based Business The Scale Of SMES. IRPITAGE JOURNAL, 1(1), 26–28. https://doi.org/10.54443/irpitage.v1i1.24
Nur ilham, R., Likdanawati, L., Hamdiah, H., Adnan, A., & Sinta, I. . (2022). COMMUNITY SERVICE ACTIVITIES “SOCIALIZATION AVOID STUDY INVESTMENT” TO THE STUDENT BOND OF SERDANG BEDAGAI. IRPITAGE JOURNAL, 2(2), 61–64. https://doi.org/10.54443/irpitage.v2i2.312
Falahuddin, F., Fuadi, . F., Munandar, M., Juanda, R. ., & Nur Ilham, R. . (2022). INCREASING BUSINESS SUPPORTING CAPACITY IN MSMES BUSINESS GROUP TEMPE BUNGONG NANGGROE KERUPUK IN SYAMTALIRA ARON DISTRICT, UTARA ACEH REGENCY. IRPITAGE JOURNAL, 2(2), 65–68. https://doi.org/10.54443/irpitage.v2i2.313
Majied Sumatrani Saragih, M. ., Hikmah Saragih, U. ., & Nur Ilham, R. . (2021). RELATIONSHIP BETWEEN MOTIVATION AND EXTRINSIC MOTIVATION TO ICREASING ENTREPRENEURSHIP IMPLEMENTATION FROM SPP AL-FALAH GROUP AT BLOK 10 VILLAGE DOLOK MASIHUL. MORFAI JOURNAL, 1(1), 1–12. https://doi.org/10.54443/morfai.v1i1.11
Sandi, H. ., Afni Yunita, N. ., Heikal, M. ., Nur Ilham, R. ., & Sinta, I. . (2021). RELATIONSHIP BETWEEN BUDGET PARTICIPATION, JOB CHARACTERISTICS, EMOTIONAL INTELLIGENCE AND WORK MOTIVATION AS MEDIATOR VARIABLES TO STRENGTHENING USER POWER PERFORMANCE: AN EMPERICAL EVIDENCE FROM INDONESIA GOVERNMENT. MORFAI JOURNAL, 1(1), 36–48. https://doi.org/10.54443/morfai.v1i1.14
Sinurat, M. ., Heikal, M. ., Simanjuntak, A. ., Siahaan, R. ., & Nur Ilham, R. . (2021). PRODUCT QUALITY ON CONSUMER PURCHASE INTEREST WITH CUSTOMER SATISFACTION AS A VARIABLE INTERVENING IN BLACK ONLINE STORE HIGH CLICK MARKET: Case Study on Customers of the Tebing Tinggi Black Market Online Store. MORFAI JOURNAL, 1(1), 13–21. https://doi.org/10.54443/morfai.v1i1.12
Ilham, Rico Nur. et all (2019). Investigation of the Bitcoin Effects on the Country Revenues via Virtual Tax Transactions for Purchasing Management. International Journal of Suplly Management.Volume 8 No.6 December 2019.
Ilham, Rico Nur. et all (2019).. Comparative of the Supply Chain and Block Chains to Increase the Country Revenues via Virtual Tax Transactions and Replacing Future of Money. International Journal of Suplly Management.Volume 8 No.5 August 2019.
Lasta Irawan, A. ., Briggs, D. ., Muhammad Azami, T. ., & Nurfaliza, N. (2021). THE EFFECT OF POSITION PROMOTION ON EMPLOYEE SATISFACTION WITH COMPENSATION AS INTERVENING VARIABLES: (Case Study on Harvesting Employees of PT. Karya Hevea Indonesia). International Journal of Social Science, Educational, Economics, Agriculture Research, and Technology (IJSET), 1(1), 11–20. https://doi.org/10.54443/ijset.v1i1.2
Rahmaniar, R., Subhan, S., Saharuddin, S., Nur Ilham, R. ., & Anwar, K. . (2022). THE INFLUENCE OF ENTREPRENEURSHIP ASPECTS ON THE SUCCESS OF THE CHIPS INDUSTRY IN MATANG GLUMPANG DUA AND PANTON PUMP. International Journal of Social Science, Educational, Economics, Agriculture Research, and Technology (IJSET), 1(7), 337–348. https://doi.org/10.54443/ijset.v1i7.36
likdanawati, likdanawati, Yanita, Y., Hamdiah, H., Nur Ilham, R., & Sinta, I. (2022). EFFECT OF ORGANIZATIONAL COMMITMENT, WORK MOTIVATION AND LEADERSHIP STYLE ON EMPLOYEE PERFORMANCE OF PT. ACEH DISTRIBUS INDO RAYA. International Journal of Social Science, Educational, Economics, Agriculture Research, and Technology (IJSET), 1(8), 377–382. https://doi.org/10.54443/ijset.v1i8.41
Nur Ilham, R., Arliansyah, A., Juanda, R. ., Sinta, I. ., Multazam, M. ., & Syahputri, L. . (2022). APPLICATION OF GOOD CORPORATE GOVERNANCE PRINCIPLES IN IMPROVING BENEFITS OF STATE-OWNED ENTERPRISES (An Emperical Evidence from Indonesian Stock Exchange at Moment of Covid-19). International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS), 2(5), 761–772. https://doi.org/10.54443/ijebas.v2i5.410
Rico Nur Ilham, Irada Sinta, & Mangasi Sinurat. (2022). THE EFFECT OF TECHNICAL ANALYSIS ON CRYPTOCURRENCY INVESTMENT RETURNS WITH THE 5 (FIVE) HIGHEST MARKET CAPITALIZATIONS IN INDONESIA. Jurnal Ekonomi, 11(02), 1022–1035. Retrieved from http://ejournal.seaninstitute.or.id/index.php/Ekonomi/article/view/481
Nur ilham, R., Likdanawati, L., Hamdiah, H., Adnan, A., & Sinta, I. . (2022). COMMUNITY SERVICE ACTIVITIES “SOCIALIZATION AVOID STUDY INVESTMENT” TO THE STUDENT BOND OF SERDANG BEDAGAI. IRPITAGE JOURNAL, 2(2), 61–64. https://doi.org/10.54443/irpitage.v2i2.312
Fitriyani, Universitas Syiah Kuala
Rezky Hermawan, Universitas Syiah Kuala
Nadia Safitri, Universitas Syiah Kuala
