Mifta Qoirun Nisa Arifin, 7111416070 (2020) ANALYSIS LONG-RUN AND SHORT-RUN THE USE OF ELECTRONIC MONEY IN INDONESIA 2009-2019 PERIOD. Under Graduates thesis, Universitas Negeri Semarang.

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Abstract

E-money is a payment method that makes it easy for people to make transactions more quickly and practically; besides that, Bank Indonesia can save more money procurement costs. Transactions using electronic money have advantages compared to transactions using cash. Because the advantages that exceed electronic money make electronic money transactions continue to increase. The increase in e-money transactions has not yet received. This study aims to analyze the effect of macro instruments such as Gross Domestic Product, the money supply (M1), inflation and the BI Rate on e-money transactions. This quantitative research using time series data from January 2009 to December 2019. The data used monthly data and analyzed by Error Correction Model Engle-Granger. This model can explain short-run or long-run problems. The results showed (1) the GDP variable in the short-run had an insignificant negative effect, and in the long run, a positive and significant effect on e-money transactions in Indonesia. (2) M1 variable in the short-run has no significant negative effect on e-money in Indonesia. In the long run, it has a significant negative effect on e-money in Indonesia. (3) the inflation variables in the short-run and long-run have no significant positive effect on e-money in Indonesia. (4) BI Rate variable in the short-run and long-run has a negative but not significant effect on e-money in Indonesia. (5) Error Correction Term, which is negative and significant indicates that the model used is valid and can be used to estimate e-money transaction in Indonesia. Based on the results of the study, it can conclude that the GDP variable is significant in influencing electronic money transactions in the long run. M1 has a significant negative effect on electronic money. The inflation variable does not have a significant positive effect on electronic money, and the BI Rate of interest in both the short-run and long-run has an insignificant negative effect on electronic money.

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