12/24/2022 0 Comments Regresi linear berganda di eviews 10![]() Why Do Emerging Economies Borrow Short Term? Journal of the European Economic Association, 11(suppl_1), 67–100. ![]() Retrieved December 5, 2017, from īroner, F. Retrieved December 5, 2017, from īloomberg. Retrieved September 5, 2017, from īloomberg. A No-Arbitrage Vector Autoregression of Term Structure Dynamics with Macroeconomic and Latent Variables. University of the Witwatersrand, (April).Īng, A., & Piazzesi, M. Performance Determinants of Local Currency Bond Markets in African Emerging Economies. Consumption, Wealth, Stock and Government Bond Returns: International Evidence. Thus, the Indonesian government should monitor macroeconomic indicators closely and change policy related to its bonds accordingly.Īfonso, A., & Sousa, R. These results indicate that liquidity is influenced by macroeconomic variables. ![]() The results show that the liquidity of 10-years benchmark government bonds in Indonesia is significantly influenced by the coupon rate and lending rate positively but influenced by the exchange rate and stock price index negatively. The method used is multiple linear regression. This research uses the level of liquidity of bonds based on turnover ratio as a dependent variable and variable of maturity rate, coupon rate, exchange rate, stock price index, and lending rate as independent variables. Various studies have been conducted to determine the factors affecting liquidity and also the method to calculate them but mostly focus on private bonds. In the case of Indonesia, research on government liquidity is still limited. Therefore, this article aims to analyze the determinants of liquidity in the secondary market of Indonesian bonds, especially government bonds. This raises the question of what makes the rate of development in Indonesia's bond market not as fast as other countries in Asia. Neighboring countries like the Philippines and Singapore started registering trading volume records in the same year as Indonesia has exceeded the liquidity level of the Indonesian market. ![]() Despite having registered the trade volume since 2005, Indonesia's bond market trading and liquidity level in the secondary market are still the lowest in Asia. ![]()
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