Pengaruh Net Ekspor dan Penanaman Modal Asing terhadap Cadangan Devisa Indonesia

Effect of Net Exports and Foreign Direct Investment on Indonesia's Foreign Exchange Reserves

Penelitian ini bertujuan untuk mengetahui pengaruh net ekspor dan penanaman modal asing terhadap cadangan devisa Indonesia. Penelitian ini menggunakan pendekatan kuantitatif dengan data berbentuk time series semesteran tahun 2005 sampai 2021 berupa data net ekspor (total ekspor – total impor), realisasi penanaman modal asing dan cadangan devisa Indonesia. Teknik analisis menggunakan regresi linear berganda dengan model Ordinary Least Square. Hasil penelitian menunjukkan bahwa variabel net ekspor dan penanaman modal asing secara parsial berpengaruh positif dan signifikan terhadap cadangan devisa Indonesia. Sementara itu, melalui pengujian simultan didapatkan hasil bahwa variabel net ekspor dan penanaman modal asing secara bersama-sama berpengaruh terhadap cadangan devisa Indonesia dengan pengaruh sebesar 0.860246 atau 86%. Hasil tersebut menunjukkan bahwa adanya peningkatan net ekspor dan penanaman modal asing akan membawa dampak positif bagi adanya peningkatan posisi cadangan devisa indonesia.

Kata Kunci : Net Ekspor, Penanaman Modal Asing, Cadangan Devisa Indonesia.

This study aims to determine the effect of net exports and foreign investment on Indonesia's foreign exchange reserves. This study uses a quantitative approach with data in the form of semi-annual time series from 2005 to 2021 in the form of net export data (total exports - total imports), realization of foreign investment and Indonesia's foreign exchange reserves. The analysis technique uses multiple linear regression with the Ordinary Least Square model. The results of the study show that the variables of net exports and foreign investment partially have a positive and significant effect on Indonesia's foreign exchange reserves. Meanwhile, through simultaneous testing, it was found that the variable net exports and foreign investment together had an effect on Indonesia's foreign exchange reserves with an effect of 0.860246 or 86%. These results indicate that an increase in net exports and foreign investment will have a positive impact on increasing the position of Indonesia's foreign exchange reserves.

Keywords: Net Exports, Foreign Investment, Indonesia's Foreign Exchange Reserves.