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All Journal Economic Journal of Emerging Markets Optimum : Jurnal Ekonomi dan Pembangunan Trikonomika: Jurnal Ekonomi Journal of Economics, Business, & Accountancy Ventura EKO-REGIONAL JURNAL PENGEMBANGAN EKONOMI WILAYAH Jurnal Masyarakat Madani Indonesia Economic Development Analysis Journal
Arintoko Arintoko
Universitas Jenderal Soedirman
Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Public Health Social Sciences

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 1 
IS LONG-RUN MONETARY NEUTRAL? EVIDENCE FROM INDONESIA Arintoko Arintoko
Economic Journal of Emerging Markets Volume 1 Issue 3, 2009
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v1i3.6422

Abstract

This paper examines the long-run monetary neutrality in Indonesia, mainly using annual time-series during 1970-2007. It uses Fisher-Seater methodology to analyze the research problems. Particular attention is given to integration, exogeneity, and cointegration properties of the money stock and real output. Unit-root, causality, and cointegration tests are used to identify these properties. The empirical results provide evidence to reject the long-run neutrality of money (both M1 and M2) with respect to real GDP, showing that it is inconsistent with the classical and neoclassical economics. In particular, government injections of money have long-run positive effect on real output in macroeconomy.
FAKTOR-FAKTOR PENENTU TINGKAT TABUNGAN DI INDONESIA: PENDEKATAN MODEL LIFE CYCLE HYPOTHESIS Arintoko Arintoko
Optimum: Jurnal Ekonomi dan Pembangunan Vol 1, No 2 (2011)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (362.159 KB) | DOI: 10.12928/optimum.v1i2.7802

Abstract

This study estimates a number of variables hypothesized affect saving rate in Indonesia. These variables such as growth of real income per capita, dependency ratio, interest rate, inflation and lag of saving rate are likely to exert influence on saving rate as suggested by theory and/or prior empirical work. This research employs regression model on time-series data. Research model is based on life cycle hypothesis. It is used to show effect of income growth and population structure on saving rate. Three of five variables used in the model significanly affect saving rate i.e.: real GDP per capita, inflation and lag of saving rate. These variables have positif effect on saving rate. Increasing GDP per capita has impact on increasing national saving rate. Increasing inflation indicates increasing uncertainty motivating households to raise their saving. In addition, there is an inertia of saving rate habit implying that national saving rate in Indonesia would be to exhibit cycle. Thus, saving rate would be increase in the future if there is upward  trend in prior timeThis study estimates a number of variables hypothesized affect saving rate in Indonesia. These variables such as growth of real income per capita, dependency ratio, interest rate, inflation and lag of saving rate are likely to exert influence on saving rate as suggested by theory and/or prior empirical work. This research employs regression model on time-series data. Research model is based on life cycle hypothesis. It is used to show effect of income growth and population structure on saving rate. Three of five variables used in the model significanly affect saving rate i.e.:real GDP per capita, inflation and lag of saving rate. These variables have positif effect on saving rate. Increasing GDP per capita has impact on increasing national saving rate. Increasing inflation indicates increasing uncertainty motivating households to raise their saving. In addition, there is an inertia of saving rate habit implying that national saving rate in Indonesia would be to exhibit cycle. Thus, saving rate would be increase in the future if there is upward  trend in prior time
The Effects of Bank-Level and Macroeconomic Variables on Commercial Bank Lending Based on Type of Use Arintoko Arintoko
Journal of Economics, Business, & Accountancy Ventura Vol 24, No 1 (2021): April - July 2021
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v24i1.2596

Abstract

ABSTRACTThe purpose of this study was to analyze the effect of interest rates, bank-level and macroeconomic variables on bank lending based on the type of use. The analysis method uses an autoregressive distributed lag (ARDL) model with quarterly data for the period of 2011Q1 - 2020Q1. The results show that investment lending behavior can be explained well by all bank-level and macroeconomic variables for the long run. The bank-level variable also reflects the performance and soundness of the bank, namely the capital adequacy ratio and loan to deposit ratio. Meanwhile, macroeconomic variables include inflation and real GDP. Consumer lending behavior is better explained by macroeconomic variables than bank-level variables. Meanwhile, GDP is the only variable that has a significant effect on working capital loans, which means that the behavior of working capital loans is more influenced by the business cycle as indicated by changes in real GDP. GDP is the only variable that consistently has a significant positive effect on bank loans for the three types of loans. Banks need to continue to emphasize the principle of prudence in providing credit by taking into account the term and credit risk, as well as internal and external factors.
The Impact of Transformation of Social Assistance on Financial Inclusion and Welfare of Beneficiary Families Arief Fajar Firmansyah; Suharno Suharno; Arintoko Arintoko
EKO-REGIONAL Vol 16, No 1 (2021)
Publisher : Jurusan Ilmu Ekonomi dan Studi Pembangunan Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20884/1.erjpe.2021.16.1.1797

Abstract

This study is based on the transformation of the distribution of cash social assistance into non-cash in the City of Tegal. The non-cash distribution is by using a banking account that has a combo card facility, which is a multi-function card that can be used as an ATM card as well as disbursement of social assistance. There is a slice of the objectives of the non-cash transaction referred to as an alternative to accelerate the increase in financial inclusion of the Indonesian population as stated in the National Strategy for Financial Inclusion with the financial inclusion index indicator. This study aims to determine the impact of the transformation of the distribution of social assistance on financial inclusion in Tegal City and the welfare of beneficiary families (KPM). Primary data were collected from questionnaires that have been filled in by KPM and secondary data were obtained from the Central Bureau of Statistics and the Representative Office of Bank Indonesia Tegal. The analytical tool used is a quantitative approach to KPM's response to the distribution of non-cash social assistance. As supporting data, in the problem of financial inclusion, analysis tools are used by qualitatively comparing financial inclusion that is generated as a result of the implementation of the distribution of non-cash social assistance to existing financial inclusion. The analysis shows that the acceptance and perception of KPM supports the transformation of non-cash social assistance distribution, this is supported by KPM's interest in using combo cards as a means of saving. On the other hand, the transformation of the distribution of social assistance to non-cash contributes to financial inclusion in the city of Tegal, namely the Agent Laku Pandai (LKD) contributing 75.20% to banking financial services in Tegal City. From the 4 Welfare Indicator Classifications, it is found that the welfare of KPM has experienced changes in welfare after receiving non-cash social assistance and has improved the welfare of the beneficiary community (KPM).Keywords : Non-Cash Social Assistance, PKH, BPNT
Effect of Macroeconomic Factors on The Small-Medium Enterprises Loans Adhisty Mohammad Khariza; Arintoko Arintoko; Suprapto Suprapto
EKO-REGIONAL Vol 15, No 2 (2020)
Publisher : Jurusan Ilmu Ekonomi dan Studi Pembangunan Universitas Jenderal Soedirman

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20884/1.erjpe.2020.15.2.1582

Abstract

Small-medium enterprises (SMEs) are the main pillar of the Indonesian economy. Based on 2016’s Economic Census, most businesses in Indonesia are SMEs, while SMEs absorb the majority of the workforce. The empowerment of SMEs is one way to improve the economy. To empower the SMEs sector, the Indonesian government launched the Kredit Usaha Rakyat (KUR) since 2007. The lasts policy is the provision of the mild interest rate for KUR since 2016. The hope is that with a mild interest rate, SMEs can get affordable financing access so they can be the driving force of the economy. However, credit demand is not only influenced by interest rate but other macroeconomic factors such as Gross Domestic Product and inflation. Also, this study will look at how development disparities between the West Indonesia Region and East Indonesia Region affect credit demand. This research is intended to see the effect of macroeconomic factors on Small-medium enterprises loans. Source of data is taken from Indonesia Badan Pusat Statistik. Panel data use 2011-2018 time-series data and 33 provinces cross-section data are used to investigate the relationship of SMEs’ Loans with these macroeconomic factors. The result show that Interest Rate, GRDP, and Inflation, effect on SMEs Loans in a respectively different manner. However, the development disparities between West Indonesia Region and East Indonesia Region has no significant effect on SMEs’ loans. The study concludes that macroeconomic activities are important indicators not only the interest rate. So, the government should not only focus on interest rate policy but also other macroeconomic factors. Keyword: Macroeconomic Factors, SMEs’ Loan, Kredit Usaha Rakyat (KUR), Panel Data
Pengembangan Rumah Bibit untuk Peningkatan Kapasitas KWT Dewi Sri di Kecamatan Patikraja, Banyumas Arintoko Arintoko; Supadi Supadi; Ratri Noorhidayah
Jurnal Masyarakat Madani Indonesia Vol. 2 No. 3 (2023): Agustus
Publisher : Alesha Media Digital

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59025/js.v2i3.85

Abstract

Kelompok Wanita Tani (KWT) Dewi Sri bangkit kembali dalam melaksanakan kegiatannya walaupun secara mandiri. Semangat untuk bangkit dan maju dari KWT ini layak diapresiasi dengan bantuan penerapan IPTEKS dalam upaya peningkatan kapasitasnya di tengah keterbatasan sumberdaya yang dimiliki. Metode pemecahan masalah melalui pengabdian pada masyarakat (PKM) yaitu dengan program pengembangan rumah bibit untuk mendukung pasokan bibit dan demplot sebagai sarana edukasi bagi anggota dan masyarakat dalam pemanfaatan dan pengembangan lahan pekarangan secara organik. Program kegiatan pendukung dalam kegiatan ini berupa penyuluhan dan pendampingan bagi usaha dan program KWT, serta kegiatan evaluasi melalui focus group discussion (FGD). Tujuan dari program PKM adalah untuk meningkatkan kemampuan KWT dalam melaksanakan dan mengembangkan program-program kegiatannya untuk mendukung ketahanan pangan di desa. Terbangunnya rumah bibit dan pemanfaatannya telah mendorong pengembangan lahan bersama yang dikelola KWT menjadi demplot pengembangan bibit sayuran dan tanaman hias. Hasil dari kebun percontohan ini dapat terjual di samping memfungsikan rumah bibit sebagai sumber pasokan dalam distribusi bibit ke kebun percontohan maupun kebun-kebun yang dikelola dasawisma maupun keluarga. Pengabdian yang dilakukan penting karena memberikan dampak positif yang cukup signifikan untuk eksistensi KWT Dewi Sri terutama dalam upaya menjaga ketahanan pangan rumah tangga anggota KWT dan masyarakat sekitar.
BUSINESS EFFICIENCY AND BUSINESS PERFORMANCE OF COCONUT SUGAR SMES IN BANYUMAS REGENCY Lilis Siti Badriah; Arintoko Arintoko; Dijan Rahajuni
TRIKONOMIKA Vol 20 No 2 (2021): December Edition
Publisher : Faculty of Economics and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (299.675 KB) | DOI: 10.23969/trikonomika.v20i2.4477

Abstract

This study aims to analyze economic efficiency and the factors that influence the performance of coconut sugar SMEs in Cilongok District, Banyumas Regency. This study uses primary data obtained through interviews with 162 respondents. By using Benefit-Cost Ratio analysis and multiple regression, this study finds that the coconut sugar business in Cilongok District, Banyumas Regency is not yet efficient and the coconut sugar business performance is positively influenced by financial capital. While social capital and human capital do not affect it. This research implies the need for continuous efforts from all stakeholders to provide business assistance and certainty in product marketing so that product prices become more stable. In addition, it is also necessary to optimize the potential of social and human capital to strengthen the role of financial capital in improving business performance. This can be done through the institutionalization of social capital and optimizing the role of the village government in facilitating cooperation with various parties.
Does Monetary Transmission Effective? Evidence from Indonesia Arintoko Arintoko
Economics Development Analysis Journal Vol 10 No 3 (2021): Economics Development Analysis Journal
Publisher : Economics Development Department, Universitas Negeri Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v10i3.45456

Abstract

This study aims to examine the effects of monetary policy in Indonesia on real variables represented by output and nominal variables represented by inflation. This research is based on an autoregressive distributed model (ARDL) approach which includes lag for the dependent variable and its explanatory variables as regressors. So it is appropriate to analyze time-series data dynamically. Monetary policy variables include deposit interest rate, lending interest rate, asset/stock price, and exchange rate. The results show that the deposit interest rate has a negative effect on inflation in the short run, meanwhile, the lending interest rate has a negative effect on inflation in the long run. Also, the lending interest rate has an effective effect on output in the short run. This study also proves that stock price has a positive effect on the monetary transmission to inflation. This is an important finding considering that the value of assets and individual wealth can affect aggregate demand. These findings have implications for the importance of monetary policy as a policy of stabilizing inflation and output in the short run and stabilizing inflation in the long run by emphasizing the interest rate channel, in addition to seeing the importance of the asset price channel.
Co-Authors Adhisty Mohammad Khariza Arief Fajar Firmansyah DIJAN RAHAJUNI Lilis Siti Badriah Ratri Noorhidayah Suharno Suharno Supadi Supadi Suprapto Suprapto