This study aims to analyze and determine the impact of Financial Inclusion in Indonesia and other macroeconomic variables on poverty rate in Indonesia. This study uses secondary data. Analysis method with the Random Effect Model (REM) approach. The results of this study indicate that the variable Bank Service Offices per 1,000 km2 , Ratio of DPK, Ratio CRD have a negative and significant effect on poverty rate in 33 provinces in Indonesia in 2014-2018, and Unemployment Rate (UMP) has a positive and significant effect on poverty rate in 33 provinces in Indonesia in the 2014-2018 period. However, the variable Economic Growth and Inflation (INF) did not have a significant effect on poverty in 33 provinces in Indonesia in the 2014-2018 period. Measuring this dimension is still difficult to do and currently several international institutions were concerned about the development of financial inclusion. Keywords: Financial inclusion, Poverty rate, Economic growth

Investment is one kind of country’s income. The capital market, including stocks, is a form of the convenience of modern investment. Investors, policy makers, capital market observers, and financial analysts need information in monitoring the movement of traded stock prices. Stock index is the main information in the stock market. One of the stock indexes which have potential and noticed by the people is the LQ45 stock price index. In this study, researchers tried to determine the effect of foreign stock index the Dow Jones Industrial Average (DJIA) and Straits Times Index (STI) and macroeconomic variables such as the USD/IDR exchange rate, interest rates (BI 7-days (Reverse ) Repo Rate), and inflation on the LQ45 stock price index. This study uses the Error Correction Model (ECM) method with 60 observational data from the research period January 2017 to December 2021. The results show that DJIA and STI have a positive and significant effect in the long and short term, the exchange rate has a negative and significant effect in the long and short term, interest rate has a negative and insignificant effect in the short term while in the long term it has a significant positive effect, while inflation has an insignificant negative effect in the long and short term on the LQ45 stock price index.

The JCI and the forces influencing it are examples of long-term economic phenomena, and the ECM model is the ideal model to evaluate these economic variables. The Combined Portfolio Price Index (JCI), which measures the success of the Indonesian portfolio market, performs well [1]. All portfolio price performances listed on the development board of the Indonesia Stock Exchange are measured by the Composite Stock Price Index [2]. In addition to the Composite Portfolio Price Index (JCI), there are various more types of portfolio price indices available on the Indonesia Stock Exchange (IDX). The LQ45 Index was used as an observed sample in this investigation. The market capitalization value of 45 issuers is measured by the LQ45 index, which also includes the most liquid and largest market capitalization portfolio. LQ45 is regarded as a tool for evaluating the success of investments made via capital markets [3]. The LQ45 Index movement is employed as a statistic of portfolio movements with high liquidity so that the average value is shown, which is essentially representative of the state of the major portfolios in the national capital market. In order to correct the imbalance of the movement of the LQ-45 Index in the short term towards a long-term equilibrium and to be able to explain the relationship between bonded changers and free changers in the present and past, this research will: Add to the body of knowledge; Examine and analyze whether related macroeconomic variables affect the performance of the portfolio market in the short and long terms; View investment with the movement of the market.

Pendahuluan: Nilai tukar sebagai indikator yang mencerminkan suatu kualitas ekonomi sebuah negara dimana kurs merupakan faktor penting yang berpengaruh terhadap arus permodalan internasional. Volatilitas nilai tukar yang semakin tinggi akan menyebabkan fluktuasi dari nilai tukar yang relatif tinggi. Tujuan: Untuk mengetahui pengaruh neraca transaksi berjalan terhadap nilai tukar, untuk mengetahui pengaruh jumlah uang beredar terhadap nilai tukar, untuk mengetahui pengaruh inflasi terhadap nilai tukar, untuk mengetahui pengaruh suku bunga Bank Indonesia, untuk mengetahui pengaruh utang luar negeri terhadap nilai tukar. Metode: Jenis pendekatan yang digunakan dalam penelitian ini yaitu pendekatan deskriptif kuantitatif, pendekatan deskriptif kuantitatif adalah jenis pendekatan dalam sebuah penelitian dimana data yang digunakan berupa angka dan hasil penelitian didapat atau diperoleh dengan menggunakan metode statistik atau kuantitatif (pengukuran) lainnya. Hasil: dapat disimpulkan bahwa data variabel neraca transaksi berjalan stasioner pada tingkat level. Variabel jumlah uang beredar memiliki nilai absolut PP test -0.125947 < nilai kritis 5% yaitu -2.931404 dan nilai prob sebesar 0.9399 > 0,05 maka dapat disimpulkan data variabel jumlah uang beredar tidak stasioner pada tingkat level. Variabel inflasi memiliki nilai absolut PP test -1.033267 < nilai kritis 5% yaitu -2.931404 dan nilai prob sebesar 0.3033 > 0,05 sehingga data variabel inflasi tidak stasioner pada tingkat level. Kesimpulan: Hasil tersebut sesuai dengan teori dan hipotesisnya. 2.) Persamaan dalam jangka panjang: Dinilai secara individu bahwa variabel independen neraca transaksi berjalan dalam jangka panjang memiliki pengaruh negatif (apresiasi) signifikan terhadap variabel dependen nilai tukar rupiah terhadap dolar AS. Hasil tersebut sesuai dengan teori dan hipotesisnya.