Pengaruh Utang Luar Negeri, Suku Bunga, dan Kurs terhadap Produk Domestik Bruto (Studi Kasus: Turki, Indonesia, dan Malaysia)

Abstract

This study aims to estimate the effect of external debt, interest rates, and exchange rates on gross domestic product in Turkey, Indonesia and Malaysia. The selection of the three countries is because these countries are among the three largest debtor countries in the Organization of Islamic Cooperation (OIC) members. Secondary data were obtained from sesric in the period 2000-2015. The analysis technique used is the dynamic panel data regression method with the Generalized Method of Moment (GMM) model. The results of this study indicate that the external debt variable is positively related but not significant to the GDP variable. While the interest rate and exchange rate variables are each negatively related and not significant to the GDP variable. But found a long-term relationship between the variables GDP, external debt, interest rates, and exchange rates.

Keywords: External Debt, Interest Rates, Exchange Rates, Gross Domestic Product, Organization of  Islamic Cooperation, Generalized Method of Moment.

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