Jurnal Ekonomi Studi Pembangunan最新文献

{"title":"A time-varying of property residential price in Indonesia: a VAR approach","authors":"Rifki Khoirudin, Mahrus Lutfi Adi Kurniawan","doi":"10.18196/jesp.v24i1.17750","DOIUrl":"https://doi.org/10.18196/jesp.v24i1.17750","url":null,"abstract":"The crisis of 2008 started with asset price bubbles which spread to other sectors, thus driving a recession. Turmoil in the housing sector can directly harm the domestic economy and financial stability. The research aims to analyze macroeconomic variables that can affect asset prices in Indonesia and how the inflation-targeting framework directly affects asset prices. This study contributes to the current research, such as the early warning system for the asset sector that the crisis of 2008 started with asset price bubbles. The Inflation Targeting Framework (ITF) policy used by the Central Bank has shown its effectiveness in the property sector. It can be seen that a negative response is shown from property prices when there are inflationary shocks. The response of interest rates to fluctuations in housing prices is stronger than the response of housing prices to fluctuations in interest rates. It indicates that the interest rate stimulus is more reactive to changes in housing prices as an accommodation of housing price volatility. GDP and money supply will respond negatively to property price fluctuations, which can lead to a crisis because GDP responds negatively. The strengthening of fiscal and monetary policy can soften the volatility of asset prices.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82807584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The perceptions and satisfaction index of Yogyakarta’s citizens on congestion and air pollution","authors":"Putri Wulan Ristanti, S. Suryanto","doi":"10.18196/jesp.v24i1.16394","DOIUrl":"https://doi.org/10.18196/jesp.v24i1.16394","url":null,"abstract":"Yogyakarta City is one of Indonesia's most popular tourist destinations. The tourism sector is the highest tax revenue for local government. Besides, tourism gives high revenue but also negatively impacts the citizens as hosts, such as congestion and pollution. This study was conducted to determine the importance level of each attribute on the quality of congestion and air pollution management services in Yogyakarta based on the citizen's perception by utilizing the Importance Performance Analysis (IPA) method. This study also aimed to determine the Yogyakarta citizens' satisfaction level with managing congestion and air pollution using the Customer Satisfaction Index (CSI) method. This study implemented a purposive sampling technique which was then obtained from the population sample of 100 respondents with 86 saturated samples. Based on the perception of the Yogyakarta citizens, The results showed that a high level of attributes included wide and comfortable pavements, trees that block the sunlight and have a cooling effect, motorists who obeyed traffic signs, and drivers who drive well. The Yogyakarta Citizens' satisfaction index result showed 60.54%, which has the category of \"very poor\".","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"100 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85942677","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impact of logistic performance on intra-ASEAN trade","authors":"Vedy Ardine, M. D. Revindo, Jahen F. Rezki, Calista Endrina Dewi","doi":"10.18196/jesp.v24i1.16546","DOIUrl":"https://doi.org/10.18196/jesp.v24i1.16546","url":null,"abstract":"ASEAN has gone a long way in deepening its regional economic cooperation, particularly its trade liberalization. However, ASEAN has comparatively less intraregional trade than the European Union, whose economic integration model they aspire to emulate. As reducing tariffs was no longer an efficient way to increase trade, this study analyzes logistics performance as another factor that may affect trade. Using the gravity model with bilateral trade data from 10 ASEAN member states from 2007 to 2018 with gaps, the results show that the majority of improvements in logistics performance, by both the private sector and government alike, have positive and significant impacts on export value. This finding implies that the collaboration between the private sector and government agencies to improve logistics performance in each ASEAN member state is imperative to foster ASEAN intra-regional trade further.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88259346","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Determinants of short and long-term exchange market pressure in Indonesia","authors":"Heru Wahyudi, Widia Anggi Palupi, W. Suparta","doi":"10.18196/jesp.v24i1.16131","DOIUrl":"https://doi.org/10.18196/jesp.v24i1.16131","url":null,"abstract":"A decrease in a country's export prices and foreign exchange reserves is symptomatic of exchange rate market pressures, which would be described as an oversupply or disequilibrium in the money market. The method used in this study is the Vector Error Correction Model (VECM) to investigate Exchange Market Pressure (EMP) in Indonesia. This study utilizes secondary data obtained from Statistics Indonesia and Bank Indonesia (BI) website since 2008Q1-2021Q4. The findings of this study demonstrate a strong positive long-term relationship between domestic credit growth and the BI rate, a large negative long-term relationship between GDP growth and the BI rate, and no significant relationship between the current account balance and the exchange rate.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"25 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90749488","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The COVID-19 pandemic and the exchange rate: a lesson learned from Indonesia","authors":"Sunaryati Sunaryati, A. Munandar","doi":"10.18196/jesp.v24i1.16110","DOIUrl":"https://doi.org/10.18196/jesp.v24i1.16110","url":null,"abstract":"This paper aims to capture the relationship between the COVID-19 pandemic and the exchange rate. We utilized high-frequency data by utilizing daily data from January 21st, 2020, through June 29th, 2022. In contrast to the vast majority of research that disregards the incubation period of COVID-19 in the number of daily transmission cases, we use the growth of COVID-19 as a 14-day moving average of confirmed cases as the main independent variables. Findings indicate that the devaluation of the rupiah exchange rate is long-term associated with the increase in COVID-19 cases and deaths. According to the efficient market hypothesis, the rupiah depreciates due to the increase of COVID-19 transmission, which is publicized by the media. In the midst of the debate over the impact of the pandemic on the exchange rate and using Indonesia as a lesson learned for emerging market economies, our research is a recent study that examines this topic with completed data-generating processes – when the pandemic entered its last wave phase. In regard to exchange rate behavior, the disease outbreak channel exists. The government must restrict widespread media coverage of data on the spread of COVID-19 while focusing on accelerating measures to control the pandemic. A low-interest rate imposed by the monetary authorities as an effort to stimulate economic recovery can also exert pressure on the exchange rate, necessitating the optimization of other instruments, such as foreign exchange intervention.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"25 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77736244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does Technopark Play a Role in Local Economic Development? Case Study in Samosir Regency","authors":"Agisa Kuntias, T. Novianti, A. Fariyanti","doi":"10.18196/jesp.v23i2.15799","DOIUrl":"https://doi.org/10.18196/jesp.v23i2.15799","url":null,"abstract":"Local economic development is one of the development policies that is considered appropriate and strategic in the context of regional development in Indonesia by optimally utilizing local resources. In line with this concept, the Government of Samosir Regency established a technopark as a centre for innovation based on inland fishery resources to encourage local economic activities for the community. The purpose of this study is to examine the strategy of the local government of Samosir Regency in developing the local economy through technopark based on inland fishery resources. The analytical tool used by the Analytical Network Process (ANP) includes analysis of aspects of factors, problems, solutions, and alternative strategies. Based on the results of the ANP analysis, the collaboration factor is the most influencing factor in strategy development. Meanwhile, in the problem aspect, the problem of limited infrastructure, low public interest and weak commitment, are the main problems that need to be resolved, so that the solution aspect becomes a priority is building trust between stakeholders, allocation of financing for infrastructure and socialization of coaching programs to the community. The formulation of the main strategy for local economic development through the development of technoparks based on the results of the ANP analysis is to build multi-stakeholder synergy to support local economic development in Samosir Regency.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73555391","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Do Poverty and Economic Growth Matter for Income Inequality Reduction in Yogyakarta Province?","authors":"Athari Maurilla, S. Suriani, M. Nasir","doi":"10.18196/jesp.v23i2.15859","DOIUrl":"https://doi.org/10.18196/jesp.v23i2.15859","url":null,"abstract":"It has been observed that income inequality is an economic element that may impede a nation's economic development. In general, Indonesia's Gini ratio has remained low for nearly a decade, although one region, Yogyakarta Province, unexpectedly exceeds the national average. The provincial government of Yogyakarta must focus more on reducing income inequality. Therefore, this study employs the Poverty-Growth-Inequality Triangle model approach to investigate the complexity of income inequality in Yogyakarta Province. The data is collected from five cities in Yogyakarta Province from 2010 to 2021. For the quantitative study, a Simultaneous Equation Model analysis with three iterations of least squares is performed. The results indicate that there is no causal relationship between income inequality and economic growth or poverty. According to the model of income inequality, education and the district minimum wage have a significant impact on income inequality. Therefore, local governments are advocated to evaluate policies aimed at reducing income inequality through education system reform, equity in district minimum wage and economic growth, and efficiency in the utilization of income inequality-related funds.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"17 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80188027","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Determinants of International Tourism: Evidence from European Countries and China’s Provinces","authors":"Zhang Cheng, Faiza Husnayeni Nahar","doi":"10.18196/jesp.v23i2.15714","DOIUrl":"https://doi.org/10.18196/jesp.v23i2.15714","url":null,"abstract":"Tourism has been reported as one of the largest economic sectors in the world. It is shown by more than hundreds of jobs involved in this sector which directly escalate the welfare and economic growth of a country. Thus, government will support any actions that could improve competitiveness and profitability of tourism industry. The main objective of this paper is to determine the significant factors of international tourism receipts by 18 European countries and 12 provinces of Western China between 1995 and 2019. Based on data, Europe known as the world’s largest international tourist receipt in 2019 followed by Asia and the Pacific including China. It is interesting to note that China, particularly in western part, has contributed more on achieving tourism receipt. China has potential to grow its tourism sector in significant trend due to its large land size and massive human resources that might further defeat Europe’s total tourist receipt. By using panel Autoregressive Distributed lag (ARDL) model, there would be different responses related to determinant factors of tourism over long run and short run. The result revealed that population, carbon dioxide emission and trade openness have positive effect to the international tourism receipt in Europe in the long run while the rest explanatory variables such as transportation infrastructure and energy consumption have negative effect to the international tourism receipt in Europe. While in case of China, population and energy consumption are statistically significant and positive to international tourism receipt in the long-run correlation, but the rest variables are having negative effect. Unfortunately, in the short-run effect, it was found that all variables are not statistically significant at least at the ten percent significance level in both Europe and China. From the result, the Europe and Chinese policy makers can evaluate the policy based on each result. For instance, the fact that the high level of population density could reach larger tourism receipt is not always true, government need to provide some training for the party who will be involved in tourism industry to gain knowledge and encourage them to be more creative and innovative. Hence the good quality of listed tourism destination would attract more tourist to the destination country","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"30 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86495660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Money Demand in Indonesia: Does Economic Uncertainty Matter?","authors":"Mahrus Lutfi Adi Kurniawan, I. Q. A’yun, Winny Perwithosuci","doi":"10.18196/jesp.v23i2.15876","DOIUrl":"https://doi.org/10.18196/jesp.v23i2.15876","url":null,"abstract":"Since the global financial crisis of 2008, there has been a rise in economic uncertainty and money demand research. The money demand is vital in monetary policy, which has implications for the regional economy. This study aims to analyse the money demand in Indonesia in the middle of global economic uncertainty, as well as the contribution of the study, which includes the economic and monetary policy uncertainty in a separate model for an enhanced money demand function. The study used a structural vector autoregressive (SVAR) approach. The results indicate that monetary demand is negatively affected by economic uncertainty. With the development of the financial sector, the impact of economic uncertainty and the unpredictability of US monetary policy drives people to be more cautious, resulting in a movement of \"wealth\" to other instruments. The current study implies that the monetary policy in the form of interest rates as the response to the global condition should consider monetary aggregates in terms of money demand as a precautionary measure to maintain money demand. The study revealed that stable money demand suggests inflation targeting as a monetary policy that can enhance monetary policy in the face of rising economic uncertainty.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-11-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83508602","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dynamization Analysis of Capital Inflow, Credit Allocation, and Banking Performance using Panel Vector Autoregressive","authors":"Mahjus Ekananda","doi":"10.18196/jesp.v23i2.16014","DOIUrl":"https://doi.org/10.18196/jesp.v23i2.16014","url":null,"abstract":"The direction of globalization and the integration of the financial system continue to increase, in line with the increasing capital flows, which is the focus of discussion in this research. This study applies panel data analysis to analyze banking behavior in order to improve its performance. The analysis uses panel data from 1991 to 2020 in 39 countries. Return on Equity (ROE) as a measure of the success of banking operations is determined by various interrelated factors. One of the variables closely related to banking performance is the share of non-financial business loans, the share of capital inflows entering the banking sector, and the share of capital inflows entering the non-bank sector. Economic variables that support good banking performance are GDP growth, bank concentration, inflation, leverage, and bank efficiency. This article applies a Panel Vector Autoregressive to capture the dynamization, and heterogeneity. The most exciting results were obtained by dividing the sample into subgroups, which helped the researcher understand each regime's different roles and transmissions. The changes in capital inflows to the non-bank sector will significantly reduce ROE and increase leverage for the next five periods. The results of the study imply that nowadays, bank managers should be aware while the changes in capital inflows change very quickly. Bank managers in countries with high capital inflows must always be aware of changes in capital inflows to the non-bank sector—steps to bank management by diversifying sources of funds efficiently from other parties in the transmission of credit channel.","PeriodicalId":34150,"journal":{"name":"Jurnal Ekonomi Studi Pembangunan","volume":"97 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81393083","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}