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Journal > Jurnal Ekonomi > SKEMA FINANCIAL DEEPENING DAN IMPLIKASINYA TERHADAP TABUNGAN DAN INVESTASI DI INDONESIA: KERANGKA RIVALITAS PARADIGMA MCKINNON-SHAW DAN KEYNESIAN

 

Jurnal Ekonomi
##issue.vol## 16, ##issue.no## 2 (2011): Ekonomi No. 2 Vol. 16 2011
SKEMA FINANCIAL DEEPENING DAN IMPLIKASINYA TERHADAP TABUNGAN DAN INVESTASI DI INDONESIA: KERANGKA RIVALITAS PARADIGMA MCKINNON-SHAW DAN KEYNESIAN
Article Info   ABSTRACT
Published date:
12 Apr 2012
 
This paper in context vestigates  the validity of financial deepening paradigms in the  Indonesian context in affecting economic growth. Tthe effects of financial deepening on save and investment has also been substantialy examined. In the paper uses two.financial deepeing paradigms of McKinnon-Shaw and Keynesian. The paper argues that the McKinnon- Shaw approach produces a model which is successful in explaining the characteristics of financial deepening in Indonesia. Results show that there are several factors other than interest rate influencing financial deepening in Indonesia. The finding  confirms anomaly in interest rate and credit to private sector variables. Here, the interest rate distortion occurs due to  institutional weaknesses of financial sector, specialy the banking system.
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