Determinan Investasi Portofolio di Indonesia: Pendekatan Vector Error Correction Model dan Error Correction Model

The imbalances between investment financing and domestic savings in terms of providing sufficient capital are an obstacle to implementing economic development Indonesia. Therefore, the flow foreign is indispensable, one which by portfolio order increase market liquidity as a source development. This study aims analyze response influence gross product variables, inflation, exchange rates, interest rates on Indonesia period 2012.Q1-2021.Q4. analytical tool this uses two approaches, are: Vector Error Correction Model (VECM) (ECM). results indicate that long run, responds positively shock rate, rate variables. In short term, inflation variables have negative significant investment.