The study objective is to examine the impact of foreign debt, foreign investment, exports, and
exchange reserves on Indonesia's economic growth, specifically quarterly data spanning the
years 2008 to 2018. Furthermore, a variety of tests were employed to analyze the data,
including stationarity, causality, cointegration, statistical, and ARCH-GARCH analysis.
Among these, the GARCH (2.2) model is considered the most effective for conducting ARCH-
GARCH analysis. The results demonstrate that foreign debt, foreign investment, and exports …

Indonesia's economic growth has not been able to become an accelerator of efforts to
overcome unemployment and poverty. Indonesia's economic growth is still too small even
since 2011-2015 tends to experience a significant decline. Analysis of the factors that
influence economic growth can be approached through two sides, namely from the supply
side (supply-side economics) and the demand side (demand-side economics). This
research was conducted with two approaches, namely from the supply side, by looking at …