[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/a/lpe/efijnl/199116.html
   My bibliography  Save this article

Investasi Swasta dan Pemerintah; Substitusi alau Komplementer ?: Kasus Indonesia

Author

Listed:
  • M. Chatib Basri

    (Faculty of Economics, University of Indonesia, Jakarta)

  • Mohamad Ikhsan

    (Faculty of Economics, University of Indonesia, Jakarta)

Abstract
The purpose of the articel is three-fold. First, to contruct an investment function for Indonesia. Second, to test the relation between govemment and private investments. Third, to test McKinnon's proposition that investment in developing countries is constrained by credit availibility, rather than interest rate. Based on a .synthesis of neoclassical and Keynessian models, the autlwrs construct a model of private investment in Indonesia, which is assumed to be a function of expectations about output, cyclical and fiscal variables, monetary conditions and exchange rates. They find that govemment investment is a complement for private investment. This complementarity relation ship is caused by the sources of finance in the past, which was mainly from foreign sources. In addition, a bulk of govemment investment is aimed at infrastructures. They also find that monetary policy has no impact in the short run, but does affect private investment in the longer term. Exchange rate management employing nominal exchange rate target tends to push the price level by rising the price of imported input

Suggested Citation

  • M. Chatib Basri & Mohamad Ikhsan, 1991. "Investasi Swasta dan Pemerintah; Substitusi alau Komplementer ?: Kasus Indonesia," Economics and Finance in Indonesia, Faculty of Economics and Business, University of Indonesia, vol. 39, pages 359-394, Desember.
    • Handle: RePEc:lpe:efijnl:199116
    as

    Download full text from publisher

    File URL: http://www.lpem.org/repec/lpe/efijnl/199116.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Haryo Kuncoro, 2018. "The impact of government consumption on the private expenditures in developing country: the case of Indonesia," Business and Economic Horizons (BEH), Prague Development Center, vol. 14(1), pages 1-16, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:lpe:efijnl:199116. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Muhammad Halley Yudhistira (email available below). General contact details of provider: https://edirc.repec.org/data/feuinid.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.