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"Penelitian ini bertujuan untuk menganalisis kebijakan moneter dan makroprudensial melalui risk taking bank di Indonesia. Pentingnya analisis jalur pengambilan risiko (risk-taking channel) dalam mekanisme transmisi kebijakan moneter karena termasuk jalur terbaru dan berbeda dengan jalur bank lending yang telah lama dikemukakan sebelumnya dalam teori kebijakan moneter. Risk-taking channel ini mempengaruhi penawaran kredit oleh perbankan melalui keputusan bank untuk menyalurkan kredit berdasarkan perubahan perilaku bank dalam menghadapi risiko bank. Penelitian ini juga menyadari dampak dari kebijakan moneter dan makroprudensial dan peran akan karakteristik dari bank, serta kondisi makroekonomi seperti pertumbuhan ekonomi dan tingkat inflasi. Metode analisis yang digunakan adalah fixed effect melalui data panel pada periode tahun 2012-2019. Penelitian ini menggunakan 3 jenis proksi untuk mengukur risiko bank. Hasil dari penelitian ini menemukan bahwa dampak dari kebijakan moneter dan kebijakan makroprudensial secara signifikan memengaruhi risiko bank. Sehingga disimpulkan bahwa risk taking channel eksis di perbankan Indonesia.

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This study aims to analyze monetary and macroprudential policies through risk taking banks in Indonesia. The importance of risk-taking channel analysis in the transmission mechanism of monetary policy is that it is a newer route and is different from the bank lending channel that has been previously proposed in monetary policy theory. This risk-taking channel affects the supply of credit by banks through the bank's decision to channel credit based on changes in bank behavior in dealing with bank risk. The study also recognizes the impact of monetary and macroprudential policies and the role of the characteristics of banks, as well as macroeconomic conditions such as economic growth and inflation rates. The analytical method used is fixed effects through panel data in the period 2012-2019. This study uses 3 types of proxies to measure bank risk. The results of this study found that the impact of monetary policy and macroprudential policy significantly affects bank risk. So it can be concluded that the risk-taking channel exists in Indonesian banking."

"Over the last decade, developing countries have experienced a significant increase in capital flows. These capital flows became highly insurgent in the early 1990s. The development of these capital flows can significantly influence the domestic monetary base, and lead to domestic financial instability in these countries. Thus, this analysis focuses on assessing the ability of the monetary authorities to neutralize monetary disturbances of the capital flows in developing countries. It also attempts to analyze the impact of capital flows on the conduct of monetary policy in these countries. The study, however, is only applied to two ASEAN developing countries; Indonesia and Malaysia. The study is undertaken by running regression on three estimating equations developed in one chapter of the thesis. Regressions are run by using Ordinary Least sequares (OLS) method. The study shows that both monetary authorities in Indonesia and Malaysia have no loss of monetary control in faced of capital flows. The study also shows that the authorities in Indonesia and Malaysia direct their monetary policy to intervene in the exchange market; aims to preserve exchange rate stability as well as to maintain competitiveness of their exports. A policy implication also emerges from this study. That is, if the monetary authorities desired to have a higher degree of monetary authonomy, they must be ready to pursue a more flexible exchange rate policy."

"Secara umum bank-bank di Asia mengalami pergeseran struktur pendanaan bank dari core liabilities ke non core liabilities karena aliran dana ke negara-negara di Asia pasca krisis keuangan global. Studi ini bertujuan untuk menguji pengaruh dari non core liabilities tersebut terhadap kekuatan transmisi kebijakan moneter melalui jalur kredit di Indonesia. Menggunakan data level 95 bank secara bulanan selama periode 2010 hingga Desember 2019, hasil penelitian menunjukkan bahwa penurunan suku bunga kebijakan moneter secara signifikan mendorong kenaikan pertumbuhan kredit bank, dan sebaliknya kenaikan suku bunga kebijakan moneter secara signifikan berdampak penurunan pertumbuhan kredit untuk semua bank, bank besar, bank kecil, bank asing dan bank domestik. Penelitian ini menemukan bahwa posisi non core liabilities bank yang lebih tinggi mengurangi kekuatan transmisi kebijakan moneter jalur kredit untuk semua bank, bank kecil, bank besar, dan bank asing, namun tidak signfikan pada kelompok bank domestik. Implikasi dari temuan ini bank sentral dapat menggunakan instrumen makroprudensial yang mengarahkan posisi non core liabilities individu bank yang paling optimal dalam mengelola kekuatan pengaruh perubahan kebijakan suku bunga moneter terhadap pertumbuhan kredit bank. Terutama dengan berbagai inovasi keuangan dan perkembangan aktivitas usaha bank ke depan yang berpotensi meningkatkan akses bank terhadap sumber dana selain dana pihak ketiga.

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After the financial global crisis, banks in Asia experienced a shift in their funding structure from core liabilities to non-core liabilities due to the flow of funds to countries in Asia. This study examines the impact of non-core liabilities on the strength of bank lending channels in Indonesia. Using monthly data at the level of 95 banks during the period 2010 to December 2019, the results show that a loosening of monetary policy significantly encourages an increase in bank loan growth, and a tightening of monetary policy significantly reduces loan growth for all banks, large banks, small banks, foreign banks, and domestic banks. This study found that a higher non-core bank liabilities position significantly reduced the strength of bank lending channel for all banks, small banks, large banks, and foreign banks, but not significant for the domestic bank group. This finding implies that the central bank can use macroprudential instruments that affect the optimal level of non-core liabilities of individual banks in managing the strength of monetary policy rates impact on bank loan growth. Especially with various future financial innovations and the development of bank business activities that have the potential to increase bank access to sources of funds other than third-party funds."