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All Journal E-Journal Perdagangan Industri dan Moneter JEJAK Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Economics Development Analysis Journal Buletin Ekonomi Moneter dan Perbankan Jurnal Ekonomi Indonesia
Muhammad Edhie Purnawan
Fakultas Ekonomika Dan Bisnis, Universitas Gadjah Mada, Indonesia
Economics, Econometrics & Finance Industrial & Manufacturing Engineering

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Industrial Capital Intensity and Comparative Advantages Dynamism of Indonesian Export Products Setyari, Ni Putu Wiwin; Widodo, Tri; Purnawan, Muhammad Edhie
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 16, No 2 (2015): JEP Desember 2015
Publisher : Universitas Muhammdaiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The development of new trade theory which incorporates the interaction between trade and international capital flows indicates if the possibility of changes in a countrys comparative advantage due to the opening of international capital flows. International capi tal flows allow for changes in the industrial structure of a country depends on the composition of the products produced in that coun try. More capital-intensive types of products produced by a country, the greater the need for capital and the higher marginal rate of capital that can be given to attract greater international capital flows. Therefore, a comparative advantage should be seen as dynamic rather than static. As a country with large population, Indonesia tends to specialize in labor -intensive products. The other hand, efforts to attract foreign direct investment are very intensively conducted. The estimation results indicate if there was a shift in the pattern of industrial specialization Indonesia, from labor –intensive tends toward capital intensive.
Industrial Capital Intensity and Comparative Advantages Dynamism of Indonesian Export Products Setyari, Ni Putu Wiwin; Widodo, Tri; Purnawan, Muhammad Edhie
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 16, No 2 (2015): JEP Desember 2015
Publisher : Universitas Muhammdaiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v16i2.1455

Abstract

The development of new trade theory which incorporates the interaction between trade and international capital flows indicates if the possibility of changes in a countrys comparative advantage due to the opening of international capital flows. International capi tal flows allow for changes in the industrial structure of a country depends on the composition of the products produced in that coun try. More capital-intensive types of products produced by a country, the greater the need for capital and the higher marginal rate of capital that can be given to attract greater international capital flows. Therefore, a comparative advantage should be seen as dynamic rather than static. As a country with large population, Indonesia tends to specialize in labor -intensive products. The other hand, efforts to attract foreign direct investment are very intensively conducted. The estimation results indicate if there was a shift in the pattern of industrial specialization Indonesia, from labor –intensive tends toward capital intensive.
Gold, Uncertainty, Macroeconomy, Inflation Hedging and Safe Haven in Indonesia Purnawan, Muhammad Edhie; Puspitasari, Inda Fresti
Economics Development Analysis Journal Vol 10 No 2 (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.v10i2.44653

Abstract

This study examines the impacts of monetary policy uncertainty and macroeconomic variables on gold price dynamics in Indonesia. Monthly time series data was used for the period of January 2009 till December 2018. Indonesia has the second place after Thailand as a country with the highest gold demand in Southeast Asia. but, there are less studies about role of gold as safe haven in Indonesia and this study is the first one that specifically included the uncertainty variable of US monetary policy in the model using ARDL-ECM approach. The ARDL-ECM approach is applied to find out are the gold price dynamics in Indonesia influenced by macroeconomic shocks or by the movements of gold price itself in the previous period. The empirical results of this study indicate that gold plays an important role as inflation hedging and safe haven in Indonesia. This study proved that in the short-term and long-term, gold price in the previous period, exchange rate, and IHSG have a negative and significant relationship on gold prices dynamics in Indonesia, while the London gold price and inflation have a positive and significant relationship on gold price movement in Indonesia. The high level of US monetary policy uncertainty and uncertainty in global economic conditions has led to an increase in gold prices in Indonesia.
Characteristics Affecting Creative Business Income of Leading Subsector Economies in Java Purnawan, Muhammad Edhie; Taufan, Muhammad
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v14i1.28717

Abstract

This study aimed to fill the literature gap on companies’ characteristics, focusing on the effects of entrepreneurs and business characteristics on the companies’ income. The companies chosen are the ones in the leading subsector, particularly the case in Java. This study also analyzed which characteristics of entrepreneurs and businesses affected income in the creative industry. The method used in this study was multiple linear regression and standardized beta test, with cross-sectional data taken from the specific survey in creative economy issued by BPS and BEKRAF in 2016. The unit of analysis comprises 822 companies in the leading subsector of the creative industry in Java. The results showed that all of the characteristics of entrepreneurs and businesses had significant and positive effects on the company’s income. The factors that affected company income are Intellectual Property Rights (IPR) ownerships and the business’s legal status. The primary factor affecting the income was the number of workers. Meanwhile, for each provincial level in Java, it showed that the number of workers, internet use, and the ownerships of IPR had significant and positive effects, while the IPR ownerships had a substantial magnitude in four provincial levels in Java.
Gold, Uncertainty, Macroeconomy, Inflation Hedging and Safe Haven in Indonesia Purnawan, Muhammad Edhie; Puspitasari, Inda Fresti
Economics Development Analysis Journal Vol 10 No 2 (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.v10i2.44653

Abstract

This study examines the impacts of monetary policy uncertainty and macroeconomic variables on gold price dynamics in Indonesia. Monthly time series data was used for the period of January 2009 till December 2018. Indonesia has the second place after Thailand as a country with the highest gold demand in Southeast Asia. but, there are less studies about role of gold as safe haven in Indonesia and this study is the first one that specifically included the uncertainty variable of US monetary policy in the model using ARDL-ECM approach. The ARDL-ECM approach is applied to find out are the gold price dynamics in Indonesia influenced by macroeconomic shocks or by the movements of gold price itself in the previous period. The empirical results of this study indicate that gold plays an important role as inflation hedging and safe haven in Indonesia. This study proved that in the short-term and long-term, gold price in the previous period, exchange rate, and IHSG have a negative and significant relationship on gold prices dynamics in Indonesia, while the London gold price and inflation have a positive and significant relationship on gold price movement in Indonesia. The high level of US monetary policy uncertainty and uncertainty in global economic conditions has led to an increase in gold prices in Indonesia.
Significant Effect of the Central Bank Digital Currency on the Design of Monetary Policy Muhammad Edhie Purnawan; Retno Riyanti
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 8 No 1 (2019): August
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v8i1.15

Abstract

Entering the millennial era, technology has taken a big role in most sectors of life, including the currency as a product that can only be issued by the central bank. This paper examines the significant effect of central bank digital currency (CBDC) on the design of central bank monetary policy. The paper then sets out some benchmark central bank digital currency (CBDC) in several countries. Many central banks are actively exploring the initiation of sovereign digital currencies. Primary results this study is CBDC providing new monetary instruments, CBDC can improve financial inclusion, and CBDC is potential improvements in monetary policy transmission.
Pengaruh variabel-variabel di sektor riil dan perbankan terhadap Shock Credit Default Swap (CDS) di Indonesia Dwi Hastuti; Muhammad Edhie Purnawan; Sunargo Sunargo
e-Journal Perdagangan Industri dan Moneter Vol. 7 No. 3 (2019): E-Journal Perdagangan Industri dan Moneter
Publisher : Prodi Ekonomi Pembangunan Fakultas Ekonomi dan Bisnis Universitas Jambi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22437/pim.v7i3.13071

Abstract

The rapid development of the global financial market today is getting faster and integrated with the existence of advanced technology. Along with economic issues in various worlds, directly related to the global economic crisis that occurred in 2008-2009 greatly influenced the development of credit default swaps (CDS) in developing countries such as Indonesia. The increase in the value of the credit default swap, which carries a high risk of default, will further impact investor confidence and weaken the exchange rate. This is reflected in the shocks of the global crisis and the subprime mortgage prime in the United States. However, the onset of a global crisis can be early with early indicators of crisis from credit default swaps so that crisis management can be carried out faster. The results of this study indicate that the credit default swap is responded to faster by the banking sector than the real sector. Keywords: Financial crises, Credit Default Swap (CDS), Riil and banking sector
Industrial Capital Intensity and Comparative Advantages Dynamism of Indonesian Export Products Ni Putu Wiwin Setyari; Tri Widodo; Muhammad Edhie Purnawan
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 16, No 2 (2015): JEP Desember 2015
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v16i2.1455

Abstract

The development of new trade theory which incorporates the interaction between trade and international capital flows indicates if the possibility of changes in a country's comparative advantage due to the opening of international capital flows. International capi tal flows allow for changes in the industrial structure of a country depends on the composition of the products produced in that coun try. More capital-intensive types of products produced by a country, the greater the need for capital and the higher marginal rate of capital that can be given to attract greater international capital flows. Therefore, a comparative advantage should be seen as dynamic rather than static. As a country with large population, Indonesia tends to specialize in labor -intensive products. The other hand, efforts to attract foreign direct investment are very intensively conducted. The estimation results indicate if there was a shift in the pattern of industrial specialization Indonesia, from labor –intensive tends toward capital intensive.
THE ROLE OF MACROPRUDENTIAL POLICY TO MANAGE EXCHANGE RATE VOLATILITY, EXCESS BANKING LIQUIDITY, AND CREDITS Muhammad Edhie Purnawan; M. Abd. Nasir
Buletin Ekonomi Moneter dan Perbankan Vol 18 No 1 (2015)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (537.862 KB) | DOI: 10.21098/bemp.v18i1.511

Abstract

This paper analyzes the macroprudential policy by the central bank to maintain the financial system stability. Using panel data of the government banks, foreign, private, joint venture, and regional development banks during 2004- 2012, we employ Vector Autoregressive Exogenous (VARX) and event analysis method and find that the level of exchange rate volatility decrease after the implementation of the one month holding period, six-month holding period and net open position policies. However, for the nominal exchange rate, these policies are not effective. In aggregate the reserve requirement plus loan to deposit ratio policy is effective to raise the bank credit allocation. Furthermore, the impact of the primary reserve policy is very limited to lower the liquidity of the economy; while at the same time the flow of foreign capital comes into very heavy
Co-Authors Dwi Hastuti Inda Fresti Puspitasari M. Abd. Nasir Muhammad Taufan Ni Putu Wiwin Setyari Retno Riyanti Sunargo Sunargo Tri Widodo Tri Widodo