Analysis of the Effect of E-Money on Economic Growth in Indonesia
Analysis of the Effect of E-Money on Economic Growth in Indonesia

Summary/Abstract: This study aims to determine and analyze the effect of e-money, money supply, inflation, and exchange rate on economicgrowth in Indonesia. This study uses monthly time series data from January 2009 to December 2018 with a sample sizeof 120 months. The model used is the vector error correction model (VECM) using the EViews 10 software. The resultsshow that in the long run there is a relationship between e-money, money supply, and exchange rate on economic growthin Indonesia. E-Money and money supply have a positive and significant effect on economic growth in Indonesia. Then,inflation has a positive and insignificant effect on economic growth in Indonesia, while exchange rate has a negative andsignificant effect on economic growth in Indonesia. Based on the granger causality test, there is no two-way relationshipbetween each research variable.

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