Tinjauan Makro Dampak Krisis Moneter Terhadap Kinerja Sektor Riil

Penulis: Abdurohman, SE

Monetary crisis in Indonesia has different impact on each economic sector. Sectors which one more dependent om importes components suffer more than other sectors with local content base during the crisis period. The main goal of this aticle is to analyze the correlation between the depreciation of Rupiah and the increase of interest rate over each economic sector performance. Those two variables are chosen to represent the Indonesian monetary crisis indicators according to monetary tranmission mechanism theory. As we have known, the onset of monetary crisis in Indonesia was dominantly indicated by the plunge of Rupiah exchange rate and the increase of interest rate. The estimation result shows that only agricultural sector has a positive correlation, other sectors have negative correlations. Moreover, the higher the correlation coefficient is the deeper those sectors fall.

---