Analisis Pengarch Perubahan Spread Sum: 131.:Nga Terhadap Kinerja Makroekonoim Indonesia Periode 1993:1 � 2005:11 Pendekatan Jalur !Credit Dan Svar

• Main Author: Perpustakaan UGM, i-lib
• Format: Article NonPeerReviewed
• Published: [Yogyakarta] : Universitas Gadjah Mada 2006
• Subjects: Jurnal i-lib UGM
• Online Access: https://repository.ugm.ac.id/27213/; http://i-lib.ugm.ac.id/jurnal/download.php?dataId=10265

AESTRACT This research is intended to analyze the 12fittence of the change of interest rare spread to inaeroeconoinic perfbrmance in Indonesia. The interest rate spread includes of Fed rater Germany rale, and China rate, The realization of banking restructuring, u.hich emphasized on program of credit restructuring as result from presence of currency crisis and banking crisis. 215 held with considered on condition of Indonesian's macroeconomic Finally, this research will effected on activity of red sector. In this research. macroeconomic condition is indicated by real Gross Domestic Product (GDP), real credit behavior, real exchange rare, and olso real sector condition itself The activity of real sector is showed by behavior of manufacturing sector and construction sector, The data employed in the study are secondary time series data from quarterly data for period of 1993J-2005:II They constitute observation consisting of JO series of data of picked from several publication. The method of analysis used in the study are structural vector autoregression model with emphasized on impulse re.sponse analysis_ The result of structural vector autoo-egression model, s1hich be showed by impulse response i2nalysis,_kugge,sls that Gross Domestic Product (GDP). credit behavior, and real sector give negatively response to positive shocks or Gross Domestic Product (GDP), credit behavior, and real sector decreased This estimation result offer strong empirical evidence for effectiveness and relevance of a credit channel in Indonesia. Positive shock are shocks to increases in interest rate spread In this research, interesl rate spread are spread between domestic lending rate and US interest rate, domestic fending rule and German interest rate, and domestic lending rate and China interest rate. Futhermorer the estimation result also show that shacks of an increase in interest rate spread caused real appreciation Keywords: .shocks, interest rate spread, macroeconomic condition, real sector, structural vector autoregression, impulse response, credit channel.