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Abstract
This study analyses the interaction between macroeconomic variables and indicators of small and medium enterprises (SME) in Indonesia. The analysed data include GDP, inflation, unemployment, poverty number, the number of SME business units, total SME employment, and SME investment. It uses Granger Causality Test and VECM. It suggests that macroeconomic variables and SME indicators have one causal direction. In addition, there are short term and long term relationships between macroeconomic variables and indicators of SME. The response of macroeconomic variables for indicators of SME takes 4.5-5 years to stabilize. Meanwhile, the contribution of SME to GDP indicator is likely to increase from quarter 1 to 64.
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Economic Journal of Emerging Markets by Center for Economic Studies, Universitas Islam Indonesia is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
References
- Beck, T., Kunt, A.D., & Levine, R. (2004). SMEs, growth, and poverty: Cross-country evidence. Journal of Economic Growth, 10(3), 199-229.
- BVCA (British Venture Capital Association). (2011). The role of entrepreneurs and SMEs in driving the re-covery. UK.
- El-Saady, R. (2011). The role of SMEs in Mediterranean economies: The Egyptian experience SME unit. Cairo: General Authority for Investment.
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References
Beck, T., Kunt, A.D., & Levine, R. (2004). SMEs, growth, and poverty: Cross-country evidence. Journal of Economic Growth, 10(3), 199-229.
BVCA (British Venture Capital Association). (2011). The role of entrepreneurs and SMEs in driving the re-covery. UK.
El-Saady, R. (2011). The role of SMEs in Mediterranean economies: The Egyptian experience SME unit. Cairo: General Authority for Investment.
(...etc.)