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THE DYNAMICS OF CAPITAL FLOW AND PROCYCLICALITY OF FINANCIAL STABILITY SYSTEM IN ASEAN+3 Yulia Indrawati; Adhitya Wardhono; Ciplis Gema Qo’riah; M. Abd. Nasir
UNEJ e-Proceeding the 3rd International Conference on Economics, Business, and Accounting Studies
Publisher : UPT Penerbitan Universitas Jember

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Abstract

The purpose of this study is to analyze the dynamics of the influence of capital flows and credit growth on macroeconomic stability in ASEAN + 3 countries. The analysis method used is panel vector error correction model during 2003-2014 and number of ASEAN member countries that are Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, and added three countries namely China, Korea, and Japan. The variable used is Gross Domestic Product (GDP) annual percentage growth rate at market prices based on constant 2010 U.S. dollar, inflation annual consumer price in percentage, real effective exchange rate, net foreign direct investment (BOP in current US $), net portfolio investment (BOP in current US $), domestic credit provided by financial sector (% of GDP), central bank policy rate and discount rate. Sources of data were obtained from the World Bank and the International Monetary Fund. The analysis shows that capital inflows in the form of portfolio investments have an impact on economic growth in ASEAN + 3 countries compared to net foreign direct investment (FDI). This is because some ASEAN + 3 countries have a negative net FDI compared to net portfolio investment. The occurrence of friction in the credit market creates a pattern of procyclicality that is at the time of economic growth in the state of expansion or boom occurs high credit cycle without taking into account systemic risks and vice versa when the contraction or bust occurs credit crunch resulting in fluctuations in economic output.
TWO STEPS OF RICARDIAN EQUIVALENCE: AN EVIDENCE IN INDONESIA ADHITYA WARDHONO; AGUS FERDIANTO; M. ABD. NASIR; CIPLIS GEMA QORI'AH
Jurnal Akuntansi, Manajemen dan Ekonomi Vol 21 No 1 (2019)
Publisher : Faculty of Economics and Business, Jenderal Soedirman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jame.2019.21.1.1232

Abstract

Ricardian Equivalence was analyzed through the influence of deficit fiscal policy on consumption, the fiscal deficit policy of Soeharto regime and reform had a difference, the difference lied in the policy as outline in the government budgets preparation. Soeharto regime applied budget concept of the T-account model, while the reform applied budget concept of I-account. The differences of concept budgetting affected the deficit fiscal policy, while the component of deficit fiscal policy consisted of budget deficits, government expenditure, government debt, and tax revenue. The purpose of this paper is to determine the effect of the differences in Soeharto regime and reform toward deficit fiscal policy component, as well as to determine the effect of deficit fiscal policy to domestic consumption, and determine the Ricardian Equivalence phenomenon and formation. Based on these objectives, an analysis tool used was Ordinary Least Squared (OLS) and Two Stage Least Squared (TSLS), with time series data from the years 1969-2013. The analysis showed that the difference reign did not significantly affect the components of deficits fiscal, and Ricardian Equivalence happened in Indonesia by the year 1969-1981 as Ricardian first period, and 1982-2013 as the second period of Ricardian.
Interaction between Monetary and Macroprudential Policy to Enhance Financial Stability: Evidence from Indonesia Yulia Indrawati; Adhitya Wardhono; Hadi Paramu; M. Abd. Nasir; Nyoman Gede Krishnabudi; Ciplis Gema Qoriah
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 2 (2022): Budapest International Research and Critics Institute May
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i2.4794

Abstract

This study aimed to evaluate the interaction between monetary and macroprudential policy through the function of the central bank's objectives, namely the plain vanilla taylor rule, lean against the wind taylor rule, independent macroprudential policy rule and lean against the wind taylor rule with macroprudential policy. The parameter value used was based on the previous empirical study. The numerical optimizer csminwel of Chris Sims was used to solve the quadratic linear problems. The optimum coefficient calculation applied dynare optimal simple rule routine using the application of dynare 4.5.7 and matlab software. The result shows the macroprudential instruments, known as a buffer in monetary policy, we’re able to optimally minimize the loss function of the central bank. The central bank carried out both monetary and macroprudential policy in a comprehensive way to achieve two purposes as stated in the tinbergen principle. The interest rate policy is intended for reaching inflation and output stability, while the macroprudential policy is for credit growth. Macroeconomic stability with the addition of macroprudential policy is significant. This advantage is intended to cover greater volatility both in the policy rate and the inflation rate.
TWO STEPS OF RICARDIAN EQUIVALENCE: AN EVIDENCE IN INDONESIA ADHITYA WARDHONO; AGUS FERDIANTO; M. ABD. NASIR; CIPLIS GEMA QORI'AH
Jurnal Akuntansi, Manajemen dan Ekonomi Vol 21 No 1 (2019): Januari - Maret 2019
Publisher : Faculty of Economics and Business, Jenderal Soedirman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jame.2019.21.1.1232

Abstract

Ricardian Equivalence was analyzed through the influence of deficit fiscal policy on consumption, the fiscal deficit policy of Soeharto regime and reform had a difference, the difference lied in the policy as outline in the government budgets preparation. Soeharto regime applied budget concept of the T-account model, while the reform applied budget concept of I-account. The differences of concept budgetting affected the deficit fiscal policy, while the component of deficit fiscal policy consisted of budget deficits, government expenditure, government debt, and tax revenue. The purpose of this paper is to determine the effect of the differences in Soeharto regime and reform toward deficit fiscal policy component, as well as to determine the effect of deficit fiscal policy to domestic consumption, and determine the Ricardian Equivalence phenomenon and formation. Based on these objectives, an analysis tool used was Ordinary Least Squared (OLS) and Two Stage Least Squared (TSLS), with time series data from the years 1969-2013. The analysis showed that the difference reign did not significantly affect the components of deficits fiscal, and Ricardian Equivalence happened in Indonesia by the year 1969-1981 as Ricardian first period, and 1982-2013 as the second period of Ricardian.
PENGEMBANGAN EKONOMI MASYARAKAT SUCOPANGEPOK MELALUI PRODUKSI SEDOTAN BAMBU SEBAGAI UPAYA MENGURANGI SAMPAH PLASTIK DI KABUPATEN JEMBER Nita Kuswardhani; Idah Andriyani; M. Abd. Nasir; Fariz Kustiawan Alfarisy
SELAPARANG: Jurnal Pengabdian Masyarakat Berkemajuan Vol 7, No 2 (2023): June
Publisher : Universitas Muhammadiyah Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31764/jpmb.v7i2.15034

Abstract

ABSTRAKPencemaran sampah plastik di Kabupaten Jember menjadi salah satu masalah yang harus diselesaikan mengingat permasalahan sampah akan mencemari dan menimbulkan kerusakan lingkungan. Desa Sucopangepok yang letaknya di bagian hulu Daerah Aliran Sungai (DAS) Bedadung Jember merupakan salah satu desa yang mayoritas penduduknya bekerja sebagai petani atau petani buruh dengan tingkat ketrampilan dan perekonomian yang masih tergolong rendah. Kondisi wilayah yang berada disekitar aliran sungai menyebabkan banyaknya tanaman bambu yang belum banyak dimanfaatkan. Tujuan dari pengabdian dengan program kemitraan masyarakat adalah untuk memproduksi sedotan ramah lingkungan (Eco Puff Friendly) sebagai alternatif pengganti sedotan dari bahan plastik. Metode pelaksanaan meliputi pelatihan dan bimbingan teknis, yang dilakukan dalam beberapa tahapan: (1) mengumpulkan bahan sedotan, (2) memberikan pelatihan dan arahan pembuatan produk, (3) bimbingan teknis cara produksi, mengemas, dan memasarkan produk sedotan (Eco Puff Friendly), (4) workshop karakterisasi produk. Berdasarkan hasil kegiatan disimpulkan bahwa program ini telah meningkatkan pengetahuan dan pengalaman khalayak sasaran, dan mereka dapat membuat sedotan yang ramah lingkungan. Di samping itu, telah terjadi peningkatan pemahaman dan antusiasme khalayak sasaran untuk menghargai potensi wilayah mereka dalam rangka meningkatkan daya saing bangsa serta upaya pengurangan sampah plastik di Kabutapen Jember. Kata kunci: bambu; kabupaten jember; sampah; sedot ramah lingkungan. ABSTRACTPlastic waste pollution in Jember Regency is one of the problems that must be resolved, considering that waste will pollute and cause environmental damage. Sucopangepok Village, in the upstream part of the Bedadung Jember Watershed (DAS), is one of the villages where the majority of the population work as farmers or labor farmers with relatively low skill levels and economies. The condition of the area around the river causes many bamboo plants that have not been widely used. The community partnership program aims to produce eco-friendly straws (Eco-puff friendly) as an alternative to plastic straws. The method of implementation includes training and workshop, which is carried out in several stages: (1) collecting straw materials, (2) providing training of product, (3) technical guidance on how to produce, packaging, and marketing, (4) product characterization workshop. The target community's results increased their knowledge and experience, and they could make environmentally-friendly straws. Besides, there has been an increase in the target audience's understanding and enthusiasm to appreciate the potential of their region to increase the nation's competitiveness and efforts to reduce plastic waste in Jember Regency. Keywords: bamboo; jember regency; waste; eco puff-frendly straw.