FREE FLOATING EXCHANGE RATE SYSTEM DAN PENERAPANNYA PADA KEBIJAKSANAAN EKONOMI DI NEGARA YANG BERPEREKONOMIAN KECIL DAN TERBUKA
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https://doi.org/10.9744/jak.3.1.pp.%2018-29Keywords:
exchange rate, fiscal policy, monetary policy.Abstract
Since the Bretton Wood sistem collapsed in early 1970s, the free floating exchange rate system has been being applied in many countries around the world. The exchange rate system choice is based on some economic advantages that will be obtained from it, considering some economic disadvantages that might be occurred. The valuation toward the advantages and disadvantages of the exchange rate system implementation exactly depends on the national economy it self, because such economy will give some responses in different ways. In a small-opened economy, the effect that occurred in its national economy by the implementation of the floating exchange rate system will be different with the one which is received by a developed country. The exposition about the phenomenon that is happened in the small-opened economy country will become more clearly explainable by Mundell - Fleming - model which is specially developed for those purposes-, and also by some basic theories related with the topic. By using the perfectly capital mobility asumption, Mundell - Fleming model is able to explain the effect of the economic policies implementation, specially fiscal policy and monetary policy, in a small economy country that has already applied the free floating exchange rate system will be different with other countries. Fiscal policy that has been implemented in the country will not significantly alter its national income, but it will cause an alteration in its exchange rate. However, monetary policy implemented in the same countries, will cause changes in its national income as a result of its exchange rate alteration. Abstract in Bahasa Indonesia : Sejak runtuhnya sistem Bretton Wood pada awal tahun 1970-an, sistem nilai tukar mengambang bebas telah diterapkan di banyak negara di dunia. Pemilihan terhadap sistem nilai tukar ini didasarkan kepada keuntungan ekonomis yang akan diperoleh dari padanya, tanpa mengabaikan kerugian yang ditimbulkan. Penilaian terhadap keuntungan dan kerugian dari penerapan sistem nilai tukar ini akan sangat bergantung pada perekonomian negara yang bersangkutan, karena setiap perekonomian negara akan memberikan respon yang khas. Pada negara yang berperekonomian kecil dan terbuka dampak yang ditimbulkan dalam perekonomian nasionalnya oleh penerapan sistem nilai tukar mengambang ini akan berbeda dengan yang diterima oleh negara maju. Penjabaran mengenai fenomena yang terjadi pada negara yang berperekonomian kecil dan terbuka ini akan menjadi lebih jelas melalui penggunaan model Mundell - Fleming, yang memang secara khusus dikembangkan untuk keperluan tersebut, serta dukungan dari berbagai landasan teori yang terkait dengan topik kajian. Dengan menggunakan asumsi mobilitas modal yang sempurna, model Mundell-Fleming mampu menjelaskan, bahwa dampak dari pelaksanaan kebijakan ekonomi, khususnya kebijakan fiskal dan kebijakan moneter, di negara yang berperekonomian kecil dan terbuka yang telah menerapkan sistem nilai tukar mengambang bebas akan berbeda dengan negara-negara lainnya. Kebijakan fiskal pada negara tersebut tidak akan mengubah tingkat pendapatan nasionalnya secara signifikan, tetapi hanya akan menghasilkan perubahan pada nilai tukar mata uangnya terhadap mata uang asing. Sedangkan kebijakan moneter pada negara yang sama, akan menyebabkan berubahnya tingkat pendapatan nasionalnya, sebagai akibat dari berubahnya kurs mata uang domestik. Kata kunci: nilai tukar, kebijakan fiskal, kebijakan moneter.Downloads
Published
2004-06-14
How to Cite
Atmadja, A. S. (2004). FREE FLOATING EXCHANGE RATE SYSTEM DAN PENERAPANNYA PADA KEBIJAKSANAAN EKONOMI DI NEGARA YANG BERPEREKONOMIAN KECIL DAN TERBUKA. Jurnal Akuntansi Dan Keuangan, 3(1), pp. 18-29. https://doi.org/10.9744/jak.3.1.pp. 18-29
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