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All Journal Optimum : Jurnal Ekonomi dan Pembangunan Journal of Economics, Business, & Accountancy Ventura Jurnal Ekonomi & Studi Pembangunan Jurnal Ekonomi & Keuangan Islam Journal of Socioeconomics and Development Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi Jurnal REP (Riset Ekonomi Pembangunan) JURNAL ILMIAH MAKSITEK Journal of Economics Research and Social Sciences Asian Journal of Community Services (AJCS) Asian Journal of Healthcare Analytics Journal of Business Economics and Agribusiness Journal of Regional Economics and Development
Mahrus Lutfi Adi Kurniawan
Ahmad Dahlan University
Agriculture, Biological Sciences & Forestry Arts Humanities Chemistry Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Health Professions Immunology & microbiology Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Nursing Public Health Social Sciences Veterinary

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MONEY DEMAND ANALYSIS IN INDONESIA: THE SVAR APPROACH Reza Ananda Putra; Mahrus Lutfi Adi Kurniawan
Riset Ekonomi Pembangunan Vol 6, No 1 (2021): April 2021
Publisher : Universitas Tidar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31002/rep.v6i1.3677

Abstract

This study aims to analyze the response of demand for money to shocks in macroeconomic variables such as income, inflation and interest rates in Indonesia. The study used time-series data from 2008: Q1 - 2019; Q4 with SVAR approach. Based on the result there was a positive response from money demand to income shocks but a negative response to inflation and interest rate shocks. Income variable is volatile and contributes the most to money demand compared to inflation and interest rates.
THE STABILTY OF MONEY DEMAND IN INDONESIA: AN ARDL APPROACH Mahrus Lutfi Adi Kurniawan
Optimum: Jurnal Ekonomi dan Pembangunan Vol 10, No 2 (2020)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/optimum.v10i2.18002

Abstract

This study examines the demand for money for both M2 and M1 in Indonesia using the autoregressive distributed lag (ARDL) approach. Based on the results of the bound test, the demand for money in Indonesia is co-integrated, and there is a long-term relationship with factors its determinant namely, income, inflation, domestic interest rates, foreign interest rates and exchange rates. Income, inflation and exchange rate variables have a positive effect on M2 and M1 in the short and long term, while the interest rate variable only affects M2. The stability test using the CUSUM and CUSUMQ approaches found that the demand for money in Indonesia is unstable. The instability in demand for money implies that the money targeting policy in Indonesia cannot be implemented
DYNAMICS ANALYSIS OF ECONOMIC GROWTH, EXPORT, AND FOREIGN DIRECT INVESTMENT IN ASEAN : EMPIRICAL EVIDENCE FROM PANEL DATA ANALYSIS MAHRUS LUTFI ADI KURNIAWAN; INDANAZULFA QURROTA A’YUN; LESTARI SUKARNIATI
JURNAL ILMIAH MAKSITEK Vol 6 No 4 (2021): JURNAL ILMIAH MAKSITEK
Publisher : LP2MTBM MAKARIOZ

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Abstract

This study investigates the relationship between real GDP, real exports, and FDI inflows in 6 ASEAN countries from 2000 to2019. The purpose of this study is to construct strategies about export-led growth, growth-led export, FDI-led growth, andvice versa. Furthermore, the strategies can be applied by policymakers. The Granger causality panel approach revealed thatonly Vietnam has a two-way causality relationship between real GDP and real exports. Malaysia does not find a causalrelationship between real GDP and real exports, and for the rest, there is only a one-way relationship between real GDP andreal exports. This study employs the dynamic panel approach to examine the trivariate model: real GDP, real exports, andFDI inflows. The results show that the study found growth-led exports and growth-led FDI. This study implies that aneconomy fully supported by economic growth is sensitive to global dynamics and trade changes. Thus, it can affect exportactivities and the investment climate.
Analysis of Macroeconomic Indicators Against the Composite Stock Price Index (CSPI) in Indonesia: Vector Error Correction Model (VECM) Approach Afla Afifa Aminarta; Mahrus Lutfi Adi Kurniawan
Journal of Economics Research and Social Sciences Vol 5, No 2: August 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.v5i2.12267

Abstract

The Composite Stock Price Index (CSPI) is one indicator to determine economic growth. The Composite Stock Price Index (CSPI) is formed by counting the stocks listed on the Indonesia Stock Exchange (IDX). Macroeconomic conditions can influence the movement of the CSPI in a country. Macroeconomic indicators that affect the CSPI include inflation, exchange rates, and interest rates represented by the BI rate. This study aimed to determine how much influence the selected macroeconomic indicators had on the CSPI and determine the CSPI movement forecast. This study uses the Vector Error Correction Model (VECM) as an estimation method. The research shows that the inflation, exchange rate, and BI rate variables do not affect the CSPI in the short term, and only the exchange rate variable affects the long term. Forecasting performed on variables shows an over-optimistic forecast for the exchange rate and BI rate variables.
Analisis determinan kinerja Bank Pembiayaan Rakyat Syariah di Indonesia (pendekatan Direct Error Correction Model) Jihad Lukis Panjawa; Mahrus Lutfi Adi Kurniawan; Lak lak Nazhat El Hasanah
Jurnal Ekonomi & Keuangan Islam Volume 3 No. 2, Juli 2017
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jeki.vol3.iss2.art2

Abstract

AbstractIslamic banking is emerging as a breakthrough and an alternative to conventional banking. The shariah-compliant financial services industry is currently at a growing stage compared to the advanced conventional financial services industry. The presence of the Shariah People Financing Bank also contributed to the economy as a credit channeling institution and it is expected that the wheels of the economy will spin faster and give a positive effect to the national economy. This study aims to analyze the influence of internal and external factors on the performance of Sharia Bank Financing in Indonesia Year 2011-2016. The analytical tool used in this research is the Error Corretion Model (ECM) which assumes the existence of a long-run equilibrium relationship between two or more economic variables, however in the short term that occurs is disequilibrium. With the error correction mechanism, a proportion of disequilibrium in a period is corrected in the next period. The results of this study indicate in the short term, internal factors represented by CAR and BOPO, and external factors are represented Exchange Rate and Inflation does not affect the Return On Asset Bank Syariah Rakyat Rakyat. In the long run CAR, BOPO and Kurs have a significant effect, while inflation does not significantly affect Return On Asset of Rural Bank of Sharia Liabilities.
Dynamic Analysis On Export, FDI and Growth in Indonesia: An Autoregressive Distributed Lag (ARDL) Model Mahrus Lutfi Adi Kurniawan; Indanazulfa Qurrota A'yun
Journal of Economics, Business, & Accountancy Ventura Vol 24, No 3 (2021): December 2021 - March 2022
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v24i3.2717

Abstract

This study aims to test the export-led-growth (ELG) hypothesis in Indonesia after the implementation of trade liberalization and analyze the relevance of policies that can be taken by the government. The data used in this study is time series data from 1970- 2020. The analysis method of this research uses the Autoregressive Distributed Lag (ARDL) model by applying three models. Model 1 shows that in the short term the ELG hypothesis is proven valid but in the long term the ELG hypothesis is invalid in Indonesia. This is reinforced in model 2 in both of short and long term that real GDP is insignificant to real exports. In the long term, model 2 shows that real exports have a positive effect on FDI and vice versa in model 3 that real GDP has no effect on FDI. The implementation of the results illustrates to policy makers that strong economic growth can attract export capabilities in Indonesia, but policies that are based on economic growth have vulnerabilities to global dynamics that can affect export activities and the investment climate in Indonesia, so export market diversification policies need to be implemented to be able to reach a wider market. From the investment side, it is necessary to carry out structural reforms (such as policies, financial systems, and infrastructure development) so that there is certainty for foreign investors to invest in Indonesia.
Implementation of the Green Economy in the Context of the 2025 Clean Waste Bantul Movement (Bantul Bersama) Mahrus Lutfi Adi Kurniawan; Suripto
Asian Journal of Community Services Vol. 1 No. 2 (2022): August 2022
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (154.312 KB) | DOI: 10.55927/ajcs.v1i2.1014

Abstract

Green Economy or green economy is an economic idea that aims to improve the welfare and social equality of the community, while reducing the risk of environmental damage significantly. So far, the economic aspect is more dominant than the environmental aspect so that environmental sustainability is not maintained and produces negative effects/externalities that can harm residents in the surrounding environment. Environmental damage is a full concern for economists, giving rise to the concept of a green economy or better known as a green economy.
The Application of Green Economy in the Framework of the 2025 Garbage Clean Bantul Movement (Bantul Bersama) Mahrus Lutfi Adi Kurniawan; Suripto
Asian Journal of Healthcare Analytics Vol. 1 No. 2 (2022): November 2022
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (320.026 KB) | DOI: 10.55927/ajha.v1i2.1782

Abstract

Green Economy is an economic idea that aims to improve the welfare and social equality of the community, while reducing the risk of environmental damage significantly. So far, the economic aspect is more dominant than the environmental aspect so that environmental sustainability is not maintained and produces negative effects/externalities that can harm residents in the surrounding environment. Environmental damage is a full concern for economists, giving rise to the concept of a green economy or better known as a green economy.
Analisis Kesejahteraan Petani Jagung (Studi Kasus Kecamatan Dompu, Kabupaten Dompu, NTB) NILMAWANI .; MAHRUS LUTFI ADI KURNIAWAN
JURNAL ILMIAH MAKSITEK Vol 7 No 2 (2022): JURNAL ILMIAH MAKSITEK
Publisher : LP2MTBM MAKARIOZ

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Abstract

Penelitian ini bertujuan untuk menganalisis kesejahteraan petani jagung di Kecamatan Dompu, untuk mengetahui apakah variabel modal, luas lahan, tenaga kerja dan harga jual memiliki pengaruh terhadap kesejahteraan petani Jagung di Kecamatan Dompu, Kab Dompu NTB. Penelitian menggunakan 83 sampel responden yang berprofesi sebagai petani Jagung di Kecamatan Dompu. Metode analisis data yang digunakan adalah analisis regresi linear berganda. Hasil penelitian berdasarkan pada hasil analisis regresi linear berganda terdapat pengaruh yang signifikan pada variabel modal dan luas lahan terhadap kesejateraan petani Jagung di Kecamatan Dompu dan untuk variabel tenaga kerja dan harga jual tidak berpengaruh terhadap kesejateraan petani Jagung.
A time-varying of property residential price in Indonesia: a VAR approach Rifki Khoirudin; Mahrus Lutfi Adi Kurniawan
Jurnal Ekonomi & Studi Pembangunan Vol 24, No 1: April 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v24i1.17750

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.
Co-Authors Afla Afifa Aminarta Farida Novitasari Fitri Agustina Indanazulfa Qurrota A'yun INDANAZULFA QURROTA A’YUN Isna Melati Jihad Lukis Panjawa Khesita Lail Lintang Lak lak Nazhat El Hasanah Lestari Sukarniati NILMAWANI . Reza Ananda Putra Rifki Khoirudin Riska Putri Meilinda Suripto Suripto Widodo, Arif