期刊名称：International Journal of Energy Economics and Policy
电子版ISSN：2146-4553
出版年度：2019
卷号：9
期号：5
页码：14-19
DOI：10.32479/ijeep.7829
出版社：EconJournals
摘要：This study aims to examine the effect of crude oil prices on inflation, interest rates, and economic growth in Indonesia. The data used are quarterly
time series data on crude oil, interest rates, inflation, and Indonesia’s economic growth from the first quarter of year 2001 to the second quarter of
year 2017. To test the effect, an autoregressive distributed lag (ARDL) equations system or a multivariate ARDL model is used. The results of data
analysis reveal that (1) there are no long-run and short-run effects of crude oil prices on inflation, (2) there are long-run and short-run effects of crude
oil prices to the interest rate. In the long run, every 1% increase in the price of crude oil, the interest rate drops 0,26%, and (3) there is no effect of
crude oil prices on economic growth both in the short and long-run.
关键词：Granger Causality; Oil Price; Energy Security; Unconventional Resources
其他关键词：crude oil prices; interest rate; inflation; economic growth; ARDL model
