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Dampak Peningkatan Pembayaran Non-Tunai terhadap Perekonomian dan Implikasinya terhadap Pengendalian Moneter di Indonesia

Author

Listed:
  • Ferry Syarifuddin

    (Bank Indonesia)

  • Ahmad Hidayat

    (Bank Indonesia)

  • Tarsidin

Abstract

Non-cash payments have been increasing significantly, followed by its substitution and efficiency effects. Cash payment is substituted, inducing decrease of cash holding by economic agents, while on the other hand more money enters the banking system. The increase of non-cash payments also cuts transaction costs, and the economy runs more efficiently. Using Structural Cointegrating VAR, its impacts on the economy are investigated. The result shows that cash holding decrease, while money stock M1 and M2 increase. The increase of non-cash payments also induces GDP growth and slight price decrease. Its implication to monetary policy is also analyzed, showing decrease of BI rate and monetary policy cost.

Suggested Citation

  • Ferry Syarifuddin & Ahmad Hidayat & Tarsidin, 2009. "Dampak Peningkatan Pembayaran Non-Tunai terhadap Perekonomian dan Implikasinya terhadap Pengendalian Moneter di Indonesia," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 11(4), pages 1-34, April.
    • Handle: RePEc:idn:journl:v:11:y:2009:i:4:p:1-34
    DOI: https://doi.org/10.21098/bemp.v11i4.346
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    More about this item

    Keywords

    non-cash; payment system; money demand;
    All these keywords.

    JEL classification:

    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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