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International Tourism Demand in Indonesia: Gravity Model Approach Nahar, Faiza Husnayeni; Adha, Mufti Alam; Azizurrohman, Muhammad; Ulfi, Izzani; Karimah, Husna
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 12, No 2 (2019): September 2019
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v12i2.19440

Tourism is considered as big industry which growing up faster compare to other industry in this recent year. It is reported that Indonesia received approximately 11.5 million of international tourists in 2016. Because the tourism shows significant trend in Indonesia and getting strong position in the third rank as the foreign revenue for this country, the government willing to boost up the factors that might contribute more on attracting international tourist. This study tried to analyse the determinant factors of international tourist in Indonesia by using Random Effect Model. The variables are GDPs origin and destination country, exchange rate of origin country, free visa impact and length of distance in Indonesia during the period of 2006 to 2016. The study found that all variables are statistically significant. GDPs origin and destination country and country with visa-free entry have positive effect to the number of international tourist arrival while the rest which is exchange rate of origin country and length of distance have negative effect to the international tourists. Hence, the government needs to promote aggressively to the international tourist by conducting important events, increasing the number of countries that receive Indonesia free visa and maintain the GDP in both origin and destination country.

MACROECONOMIC ANALYSIS AND FINANCIAL RATIOS ON SHARIA COMMERCIAL BANK PROFITABILITY: A CASE STUDY OF INDONESIA Nahar, Faiza Husnayeni; Faza, Calvin; Azizurrohman, Muhammad
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol 3, No 1 (2020)
Publisher : Universitas Ahmad Dahlan

Having experienced significant growth, sharia commercial bank in Indonesia has become one of the drivers of economic growth in Indonesia. This study aims to analyze the effect of macroeconomic and financial ratios on the profitability of Islamic commercial banks in Indonesia. This study used qualitative data using secondary data during the period 2011-2018. The methodology used is panel data which combines time series data and cross section data. Variables used include Non Performing Finance (NPF), Capital Adequacy Ratio (CAR), Financing to Deposit Ratio (FDR), Operational Efficiency Ratio (OER), Inflation, Domestic Product Growth (GDP), and Exchange Rates. The results of this study indicate that Non-Performing Finance (NPF), Capital Adequacy Ratio (CAR), Financing to Deposit Ratio (FDR), Operational Efficiency Ratio (OER) have a significant influence on Islamic Bank Return On Assets (ROA) in Indonesia. Meanwhile, Growth Domestic Product (GDP), and Exchange Rate appear with no significant effect on the Return on Assets (ROA) of Sharia Commercial Banks in Indonesia.

Measuring Inflow of Remittances in Six ASEAN Countries Using Macroeconomic Variables: Panel Data Analysis Jintan, Andam Rani; Nahar, Faiza Husnayeni; Azizurrohman, Muhammad
Journal of Economics Research and Social Sciences Vol 4, No 2 (2020)
Publisher : Program Studi Ekonomi FEB UMY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.v4i2.10102

Tempted by the economic potential offered by other countries makes people flocked to get the opportunity to improve their economy. Evidenced by the large number of international migrants throughout the world, this figure is in line with the high total remittance flow that leads to their country of origin. Countries in ASEAN become remittance recipients with quite high growth each year, so it is interesting to study further. Using panel data from six countries in ASEAN in 2000-2016, per capita Gross Domestic Product (GDP), domestic inflation, exchange rates, age dependency ratios and financial development are included as variables that affect remittances. The analytical method used is panel data with Fixed Effect Model (FEM). The results of the panel data found that the independent variables, including GDP per capita, domestic inflation, exchange rates, age dependency ratios and financial developments had a positive and significant effect on remittance flows in ASEAN in the period of 2000-2016

Impact of Manufactured Exports on Economic Growth in ASEAN Agustin, Lustari; Nahar, Faiza Husnayeni
Journal of Economics Research and Social Sciences Vol 4, No 1 (2020)
Publisher : Program Studi Ekonomi FEB UMY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.040121

Economic growth is an essential factor to measure how prosperous the economy of a country is. Therefore, each country will always try to increase their economic growth and put it as its economic target. This research aimed to find out the factors that influence the economic growth in ASEAN member countries during 2007â€“2016. The analysis method used was Generalized Least Square (GLS) method and Fixed Effect Estimation model. The data used were the panel data of seven ASEAN countries. The result showed that Manufacturing Export, Foreign Direct Investment (FDI), Government Expenditure, and Population had a positive and significant effect on economic growth although the contribution of manufacturing export is just at a small magnitude.

THE IMPACT OF TRADE LIBERALIZATION ON POVERTY REDUCTION IN INDONESIA Adha, Mufti Alam; Nahar, Faiza Husnayeni; Azizurrohman, Muhammad
Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.19.2.5009

Nowadays, trade liberalization is considered as development strategy policy to increase economic growth and reduce poverty in many countries, particularly in developing countries. It is reported that Indonesia has been actively joining many trade agreements in order to ease the distribution of goods and services to other countries. Hence, this study analyses the impact of trade liberalization on poverty reduction by using an Ordinary Least Square (OLS) method from 1984 to 2017. The Trade Openness Ratio (TOR) is used as a dependent variable in order to measure trade liberalization. Other variables such as GDP, exchange rate and labor force are considered as control variables. The empirical result shows that TOR and labor force have a positive impact on poverty, whereas GDP and exchange rate have a negative impact. This finding is different with previous researches, particularly where trade liberalization has been negatively affecting poverty. Such a result is justifiable because Indonesian firms are not ready to compete with foreign firms where high competitiveness exist.Â

The Role of Foreign Tourists in Economic Growth: Evidence from Indonesia Azizurrohman, Muhammad; Hartarto, Romi Bhakti; Lin, Yih-Ming; Nahar, Faiza Husnayeni
Jurnal Ekonomi & Studi Pembangunan Vol 22, No 2: October 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v22i2.11591

Foreign tourism is indicated as one of the important instruments to encourage economic growth in several countries, including Indonesia. However, some studies only focus on the influence of tourist arrivals. Thus, the main objective of this study is to take a deeper look at the contribution of foreign tourism indicators to economic growth in Indonesia. Using panel data analysis from 33 countries between 2006 and 2016, this study applies three models: Pooled Least Square (PLS), Fixed Effect Model (FEM), and Random Effect Model (FEM). Based on the fixed-effect model, this study reveals that foreign tourist arrivals have a significant and positive effect on economic growth. However, other tourism indicators such as length of stay and expenditure of foreign tourists appear to have no contribution to economic growth. From these findings, it can be implied that the Indonesian government should not only attract more tourists to come but also design strategies to encourage tourists to spend more money and stay longer. This study also finds that depreciation of Indonesian currency and visa-free policies have a significant contribution to higher economic growth.

Measuring Inflow of Remittances in Six ASEAN Countries Using Macroeconomic Variables: Panel Data Analysis Jintan, Andam Rani; Nahar, Faiza Husnayeni; Azizurrohman, Muhammad
Journal of Economics Research and Social Sciences Vol 4, No 2: August 2020
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.v4i2.10102

Tempted by the economic potential offered by other countries makes people flocked to get the opportunity to improve their economy. Evidenced by the large number of international migrants throughout the world, this figure is in line with the high total remittance flow that leads to their country of origin. Countries in ASEAN become remittance recipients with quite high growth each year, so it is interesting to study further. Using panel data from six countries in ASEAN in 2000-2016, per capita Gross Domestic Product (GDP), domestic inflation, exchange rates, age dependency ratios and financial development are included as variables that affect remittances. The analytical method used is panel data with Fixed Effect Model (FEM). The results of the panel data found that the independent variables, including GDP per capita, domestic inflation, exchange rates, age dependency ratios and financial developments had a positive and significant effect on remittance flows in ASEAN in the period of 2000-2016

Determinants of Profitability in Indonesian Islamic Banking: Case Study in the COVID-19 Period Rofiul Wahyudi; Lu’liyatul Mutmainah; Faiza Husnayeni Nahar; Mufti Alam Adha; Akhmad Arif Rifan
Integrated Journal of Business and Economics (IJBE) Vol 5, No 1 (2021): Vol 5, No 1 (2021)
Publisher : Fakultas Ekonomi, Universitas Bangka Belitung

With a high level of COVID-19 virus spread throughout the world, Indonesia is one of the countries in Southeast Asia affected by the largest transmission chain. This affects various layers of the industry in this country, one of which is financial institutions and the banking system. This paper tries to look at the performance of Islamic banking in the face of the COVID-19 pandemic. Using the linear regression method, the authors use ROA as the dependent variable. Whereas CAR, NPF, FDR, and BOPO as independent variables. The results show that CAR and BOPO have significant results while the rest do not show satisfactory results. It can be concluded that during the pandemic, Islamic banking experienced a pretty good and convincing performance.

The Role of Information and Communication Technology on Service Trade : Case Study of Indonesia's Export to ASEAN Countries Dyah Titis Kusuma Wardani; Faiza Husnayeni Nahar; Hairunnas Hairunnas
MediaTrend Vol 15, No 2 (2020): OKTOBER
Publisher : Trunojoyo University of Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/mediatrend.v15i2.5858

This study aims to analyze the impact of Information and Communication Technology (ICT) on bilateral trade in service between Indonesia and its ASEAN trading partners. The sample is bilateral export in service between Indonesia and 9 ASEAN countries such as Malaysia, Philippines, Singapore, Thailand, Brunei Darussalam, Vietnam, Myanmar, Laos and Cambodia. The total trade in service data is based on UN-Comtrade. It consists of service products that are coded in Standard International Trade Classification (SITC). This study uses the gravity model framework of data panel from 2005 to 2017 with random effect model is analyzed using Generalized Least Square. Based on the regression analysis, results show that sub-index of ICT Development Index (IDI) such as mobile-cellular telephone subscriptions per 100 inhabitants which represents technology development, has a positive and significant impact on Indonesia’s service export to ASEAN countries. Other variables such as GDP and distance also have significant effect on Indonesia’s export in service. GDP reporter, GDP partners and common language have positive and significant effect on Indonesia’s export in service. Furthermore, distance has a negative and significant effect on Indonesia’s export in service. These results are in line with Gravity model theory. In addition, these results are expected to be strong enough for the specifications of alternative models and estimation methods. Based on these results, some expected trade policy recommendation related to trade in service and telecommunication particularly trade between Indonesia and ASEAN countries can be formulated. For instance, to strengthen Indonesia’s networking and infrastructure of telecommunication in ASEAN countries. To build more Base Transceiver Station (BTS) located in trading partners in ASEAN. Telin Singapore established by Telkom Indonesia is officially established in 2007 and is the first Telkom footprint in international business. Since Singapore is Indonesia’s trading partner which has the highest of ICT Development Index among other ASEAN countries, the Indonesian government need to continue the implementation of Information and Communication Joint Committee Indonesia-Singapore.

EFFECTS OF REMITTANCES ON POVERTY REDUCTION: THE CASE OF INDONESIA Faiza Husnayeni Nahar; Mohd Nahar Mohd Arshad
Journal of Indonesian Economy and Business (JIEB) Vol 32, No 3 (2017): September
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Remittances have been reported as a tool for fighting poverty in some selected countries, such as Indonesia. An increase of income through remittances tends to improve the economic status of the migrant’s household. Once they get a high salary, they will remit money (a remittance) to their household in Indonesia via formal institutions, such as banks. The migrant’s household can fulfil their basic needs and can use the remittance for educational investment and productive activities. The education investment aims to educate the children or grandchildren of migrants, which will be beneficial for the future generations of the family, allowing them the chance of a more prosperous life. The poverty rate would be reduced gradually, and economic welfare can be achieved. The main objectives of this paper are first to estimate the effects of remittances on poverty in Indonesia from 1983 to 2015 and second, to propose several strategic policies related to remittances and poverty reduction. Other variables considered include inflation, exchange rates, income, income inequality and the labor force participation rate. An Ordinary Least Square (OLS) method was used to explore the econometric and estimated results. The study found that an increase in remittances led to a reduction in poverty by 2.56%. Inflation and the exchange rate have positive and negative effects on poverty, respectively. The small effect of remittances on poverty’s reduction could possibly be explained by the low educational background of the migrants, low wage jobs, expensive remittance costs, and migrants not knowing how to remit money through formal financial institutions. Hence, to reduce the poverty level, the government needs to first facilitate skills training for the workers so that they could get a better job and earn more, second, lower the transaction costs of remittances, and lastly, provide agents at Indonesian banks overseas to provide better facilities to Indonesian workers to remit money back to their home country.

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