The Asymmetric Effect of the Rupiah Exchange Rate on Indonesia's Non-Oil and Gas Exports

Authors

• Muhammad Sugiantoro, Universitas Trunodjoyo MaduraFollow
• Diah Wahyuningsih, Universitas Trunodjoyo MaduraFollow
• Ris Yuwono Yudo Nugroho, Universitas Trunodjoyo MaduraFollow
• Widita Kurniasari, Universitas Trunodjoyo MaduraFollow
• Ahmad Kamil, Institut Islam Hadhari, Universiti Kebangsaan Malaysia, MalaysiaFollow

Abstract

This study aims to analyze the asymmetric effect of the rupiah exchange rate on Indonesia's non-oil and gas sector exports, by considering the control variables. As well as identifying whether Indonesia's non-oil and gas sector exports are more responsively influenced by rupiah exchange rate depreciation or rupiah exchange rate appreciation. The analysis technique used is Nonlinear Autoregressive Distributed Lag (NARDL) with quarterly data from 2016 to 2023. The results showed that the rupiah exchange rate has an asymmetric effect on Indonesia's non-oil and gas sector exports, both in the short and long term. Depreciation and appreciation of the rupiah exchange rate affect Indonesia's non-oil and gas sector exports, both in the short and long term. Changes in Indonesia's non-oil and gas sector exports are more responsive to the appreciation of the rupiah exchange rate, both in the short and long term.

First Page

71

Last Page

92

Recommended Citation

Sugiantoro, M., Wahyuningsih, D., Nugroho, R. Y., Kurniasari, W., & Kamil, A. (2026). The Asymmetric Effect of the Rupiah Exchange Rate on Indonesia's Non-Oil and Gas Exports. Jurnal Ekonomi dan Studi Pembangunan, 18(1), 71-92.
DOI: 10.17977/um002v18i12026p071
Available at: https://citeus.um.ac.id/jesp/vol18/iss1/13