Research Article
The Effect of The Russia-Ukraine War And Economic Determinants on Indonesian Oil Imports
@INPROCEEDINGS{10.4108/eai.6-5-2023.2333566, author={Hartanto Gautama Utama and Pudji Astuty}, title={The Effect of The Russia-Ukraine War And Economic Determinants on Indonesian Oil Imports}, proceedings={Proceedings of the 3rd International Conference on Law, Social Science, Economics, and Education, ICLSSEE 2023, 6 May 2023, Salatiga, Central Java, Indonesia}, publisher={EAI}, proceedings_a={ICLSSEE}, year={2023}, month={7}, keywords={oil import inflation money supply exchange rate}, doi={10.4108/eai.6-5-2023.2333566} }- Hartanto Gautama Utama
Pudji Astuty
Year: 2023
The Effect of The Russia-Ukraine War And Economic Determinants on Indonesian Oil Imports
ICLSSEE
EAI
DOI: 10.4108/eai.6-5-2023.2333566
Abstract
The war in Ukraine has caused Europe's natural gas prices to almost double and made world oil prices soar and supply was unstable. Indonesia has been an oil-importing country since 2004, so fluctuations in oil supply and prices will greatly impact conditions in Indonesia. This research is to determine the effect of the Ukraine-Russia war on Indonesian oil imports by using a linear regression analysis of the ECM (Error Correction Model) to see long-term and short-term relationships with data from 2010 Q1 to 2022 Q4. This study found that the influence of economic determinants on Indonesia's oil imports was not the same in the long and short term
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