Interdependensi Instrumen Makroprudensial terhadap Stabilitas Sistem Keuangan di Indonesia

Abstract

This study aims to analyze the interdependence of macroprudential policies on financial system stability in Indonesia and find variables that are leading indicators in predicting financial system stability in Indonesia through macroprudential policies both in the short term as operational targets and in the medium term as intermediate and long-term targets as targets end. The approach of this research is quantitative research with the Vector Auto Regression (VAR) model. This study produces findings, in VAR it turns out that LTV is a short-term leading indicator as an operational target for LDR, GDP, Interest Rates, Exchange Rate, NPL and Inflation. And in VAR it turns out that LTV is a medium-term leading indicator as an intermediate target for the variable GDP, Interest Rates, and CSPI. And in VAR it turns out that LTV is a long-term leading indicator as the final target for the variable GDP, Interest Rates, and CSPI strongly supports the stability of the financial system in Indonesia.