Peran saluran kredit terhadap krisis keuangan di Indonesia

Hariadi, Sugeng (2002) Peran saluran kredit terhadap krisis keuangan di Indonesia. In: Proceeding Simposium Nasional Riset Ekonomi Dan Manajemen I. Ikatan Sarjana Ekonomi Indonesia, Surabaya, pp. 210-225.

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Abstract

This paper tries investigates whether the credit channel has a significant role of monetary transmission mechanism in Indonesia, especially after its recent financial crisis. As the crisis unfolded in the early July 1997, Bank Indonesia evidently maintained the stance of monetary tightening according to the IMF rescue package by allowing a substantial rise in interest rates. This study applies two empirical tests to identify the existence of a distinctive credit channel. First, to answer the question of whether the strength of the money/output and lending/output relationships are different in response to the crisis. Second, as a more definitive analysis of the role of the credit channel, this studies estimate a disequilibrium model of the bank loan market, specifying separate loan demand and supply equation to characterize the credit crunch and identify its density in the wake o the crisis. Credit channel plays a significant independent role in amplifying the real effects of the tightened banking regulatory implemented in response to the crisis. Finally, there was strong evidence to suggest a substantial excess demand for bank loans following the crisis. The excess demand was caused by sharp decline in loan supply largely.

Item Type: Book Section
Uncontrolled Keywords: Krisis Ekonomi,Kredit Macet, Indonesia,
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Business and Economic > Department of Management
Depositing User: Eko Setiawan 194014
Date Deposited: 04 Jul 2012 05:10
Last Modified: 04 Jul 2012 05:10
URI: http://repository.ubaya.ac.id/id/eprint/658

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