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Journal of Business and Political Economy: Biannual Review of The Indonesian Economy Review

BisnisEkonomiPolitik
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Published by INDEF

ISSN : 26852004 EISSN : 27235734 DOI : https://doi.org/10.46851

Core Subject : Economy, Social,

Economics, Econometrics & Finance Social Sciences

Journal of Business and Political Economy: Biannual Review of The Indonesian Economy Review [P-ISSN 2685-2004] is devoted to the study of political economy, economy, and business issues, focussing on encouraging transparency on the economic decision-making process in Indonesia. The review is published biannually in July and December by Institute for Development of Economics and Finance (INDEF), Jakarta, Indonesia. The coverage topics of the journal are Finance and Banking, Institutional Economics, Agricultural Economics, Political Economy, Economics Science, Development Economics, International Trade, Monetary Economy, Industrial Economics and Macroeconomics. This journal also receives all of the articles from developing and developed countries.

Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)

Articles 17 Documents

1 2

Economic Growth Determinants Model Semarang City Year 2005 – 2017 Aprih Santoso
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 1 (2020): Journal of Business and Political Economy: Biannual Review of The Indonesian Ec
Publisher : INDEF - Institute for Development of Economics and Finance

The purpose of this research was to analyze the effect of the Contribution of Regional Revenue (PAD) and General Allocation Grant (DAU) to Economic Growth (PDRB) of Semarang City through Capital Expenditure (BM). The data used in this research secondary data. The variables of this research consisted of Contribution of Regional Revenue (PAD), General Allocation Grant (DAU) as independent variables. Economic Growth (PDRB) as the dependent variable and the Capital Expenditure (BM) as an intervening variable. The test results and analysis of the data it can be concluded that the Contribution of Regional Revenue (PAD) and General Allocation Grant (DAU) directly effect on Economic Growth (PDRB) and Capital Expenditure (BM). and Capital Expenditure (BM) directly effect on Economic Growth (PDRB). Keywords: Revenue, Capital, Economic

Analisis Keunggulan Komparatif Ekspor Lada Indonesia Tahun 2010 - 2016 Repi Jusuf; Ni Putu Wiwin Setyari
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 1 (2020): Journal of Business and Political Economy: Biannual Review of The Indonesian Ec
Publisher : INDEF - Institute for Development of Economics and Finance

This study aims to determine the comparative advantage of Indonesian pepper commodity exports to its trading partner countries, Vietnam and Malaysia by using the Revealed Symmetric Comparative Advantage (RSCA) analysis method. In addition, this study aims to look at intra-industry trade between the three countries using the Intra-Industry Trade Index (IIT Index) analysis technique using data in period 2010 - 2016. Based on the results of testing using the RSCA method, Indonesian, Vietnam and Malaysia pepper commodity exports has comparative advantages in the ASEAN market in the period 2010-2016. Based on the results of testing using IIT analysis techniques, intra-industry trade between Indonesia and Vietnam and Malaysia is not dominant in similar commodities. Key words : Comparative Competitiveness, Pepper Commodity Export, Revealed Symmetric Comparative Advantage, Intra-Industry Trade

The Impact Of Financial Liberalization On Economic Risk In The Asia Pacific Countries Aulia Keiko Hubbansyah; Feriansyah Feriansyah
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 1 (2020): Journal of Business and Political Economy: Biannual Review of The Indonesian Ec
Publisher : INDEF - Institute for Development of Economics and Finance

In this study, we analyze the non-linear effect of financial liberalization policy toward the economic risk of the Asia Pacific countries with trade openness as a threshold variable. To do that, we apply the panel regression threshold proposed by Hansen (1999) as our method of analysis. Based on yearly data from 1975 – 2015, we find that there is a non-linear effect of financial liberalization on economic risk depending on the certain level of trade openness. Regarding this finding, we find that when the trade openness is below the threshold value, financial liberalization policy can reduce the economic risk of Asia Pacific countries. However, when the trade openness exceeds the threshold value, financial liberalization will increase the economic risk. So that, we conclude that an open domestic financial market that is followed by high degree of trade openness will tend to create an economic instability. Keywords: Financial Liberalization, Trade Openness, Economic Risk, Volatility

An Assessment of Economic and Financial Impacts of Jakarta-Bandung High-Speed Railway Project Siddhartha Nath; Gusti Raganata
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 1 (2020): Journal of Business and Political Economy: Biannual Review of The Indonesian Ec
Publisher : INDEF - Institute for Development of Economics and Finance

In this paper, we assess the economic and financial impacts of the proposed Jakarta-Bandung high-speed railway project. Our assessment following Zou et. al. (2018) suggests that, over the long run, the project may increase the combined income of Jakarta, the neighbouring province Karawang and the country’s major industrial centre Bandung, by an estimated 12-18%, by increasing ‘market access’, by the firms in the region, under several assumptions. We estimated that the project will increase Indonesian real GDP by almost 0.4%, mostly during its construction phase, with certain assumptions on the returns to capital. On the other hand, although the project is expected to generate over 40,000 jobs in Indonesia, according to several sources, the project may entail an immediate loss of over 2,000 traditional jobs around the track. In addition, Transit Oriented Development plans, such as tourist spot in Walini, residential complex around the project site etc. are likely to affect community farming and water supply in the region. Therefore, we assessed that the success of the project is subjected to several legal and institutional barriers including ongoing issues related to the land acquisition. The sluggish progress of the project exerts financial risk to the stakeholders, especially since the project has no ‘guarantee’ from the Indonesian government. We estimated that the China Development Bank, as a majority fundraiser, bears a significantly large portion of the risk than the other stakeholders in the project. The financial risks faced by the Indonesian counterpart, on the other hand, is significantly lower. Keywords : High-speed rail, market access, economic growth, risks,

Pengaruh Pendidikan, Kesehatan dan Standar Hidup terhadap Kemiskinan Masyarakat Perkotaan (Survey pada Masyarakat Miskin Kecamatan Bojongloakaler Kota Bandung) Fryanto Anugrah R
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 1 (2020): Journal of Business and Political Economy: Biannual Review of The Indonesian Ec
Publisher : INDEF - Institute for Development of Economics and Finance

Penelitian ini dilatarbelakangi tingginya angka kemiskinan di wilayah Perkotaan. Kota Bandung selaku Ibu Kota Provinsi Jawa Barat, ditengah kemajuan ekonomi yang pesat tidak lepas dari persoalan Kemiskinan. Kota Bandung tergolong ke dalam Kota ketiga dengan angka Kemiskinan tertinggi di Povinsi Jawa Barat. Selama ini faktor penentu kemiskinan belum mencerminkan kondisi yang bersifat multidimensi. Padahal kondisi kemiskinan dapat dimaknai secara multidimensi, terutama kemiksinan di wilayah Perkotaan. Penelitian ini bertujuan untuk menganalisis faktor-faktor penentu kemiskinan masyarakat perkotaan berdasarkan aspek multidimensi di wilayah Kota Bandung, khususnya di wilayah Kecamatan Bojongloakaler. Pendekatan yang digunakan dalam penelitian ini adalah survey eksplanatori dengan teknik analisis data model regresi probit-logit. Sampel penelitian berjumlah 380 unit keluarga miskin dari total keluarga miskin sebesar 11.405 melalui teknik Proposionate Stratified Random Sampling. Pengumpulan data dilakukan dengan menggunakan kuisioner. Hasil penelitian menunjukkan (1) Angka kemiskinan Indeks kemiskinan multidimensi di Kecamatan Bojongloakaler sebesar tergolong rendah. (2) Hampir seluruh indikator dalamdimensi pendidikan berpengaruh terhadap kemiskinan multidimensi. (3) Tidak ada satupun indikator dalam dimensi kesehatan berpengaruh terhadap kemiskinan multidimensi. (4) Beberapa indikator dalam dimensi standar hidup berpengaruh terhadap kemiskinan multidimensi. Kata Kunci : Kemiskinan Multidimensi, Dimensi Pendidikan, Dimensi Kesehatan, Dimensi StandarHidup

Macroeconomic Strest Testing terhadap Risiko Kegagalan Perbankan di Indonesia Fitrotul Fardila; Muhammad Rudi Nugroho
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 1 (2020): Journal of Business and Political Economy: Biannual Review of The Indonesian Ec
Publisher : INDEF - Institute for Development of Economics and Finance

The economic crisis that hit Indonesia in 1998 had a negative impact on the stability of the Indonesian economy, including the banking sector. The banking sector as the coffers that drain funds to all sectors of the economy cost the restructuring is not small. The stress test is a method used to measure the stability of the financial system through the calculation of credit risk. In addition, stress tests can provide information about the nature of the financial system in crisis conditions and assist policymakers in calculating the level of financial system vulnerabilities. So that if the vulnerability of the financial system can be detected early, the government can take preventive measures to minimize the consequences. Thus, this study aims to examine the effect of macroeconomic variable shock on the probability of default of conventional banking and sharia banking in Indonesia through a logistic regression method. The probability of default occurrence as the dependent variable in this study is determined by using the credit failure ratio. While the independent variables used in this study are macroeconomic variables consisting of growth variables Gross Domestic Product (GDP), Exchange rate, inflation, and IHSG. The result of this research using the data of period 1st quarter of 2006 to 3rd quarter of 2017 concludes that IHSG is chosen as the main variable in forming stress test scenario. Based on the results of macroeconomic stress tests, great shock on IHSG holds the most significant change to the possibility of a banking default. By using the curve-fitting method, it is known that Syariah Rural Bank (BPRS) has the greatest possibility of default when shock occurs on IHSG variables compared to 8 other banks. Keywords: Probability of Default, Stress Test, Macroeconomic Stress Testing, Financial Stability

The Threshold of External Debt Ratio in Indonesia Siti Karimah; Nasrudin Nasrudin
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 1 (2020): Journal of Business and Political Economy: Biannual Review of The Indonesian Ec
Publisher : INDEF - Institute for Development of Economics and Finance

Since New Order1 regime, external debt has become one of the reliable capital sources in Indonesia. In 2017, the World Bank was incorporating Indonesia to the top ten middle-income country borrowers so it is necessary to analyze the effect of external debt ratio on economic growth. Using the debt Laffer curve theory, the authors determine the threshold of the external debt ratio. The method of analysis is quadratic regression. The research results indicate that there exists a non-linear relationship between the external debt ratio and economic growth in Indonesia. On the other hand, research results have found the threshold of external debt ratio in Indonesia is 48 per cent to Gross Domestic Product (GDP). The external debt ratio less than 48 per cent of GDP does not affect economic growth, but it will have a negative effect on economic growth when the ratio is more than 48 per cent of GDP. Keywords: external debt ratio, threshold, quadratic regression

Empirical Study of Ricardian Equivalence Hypothesis in Indonesia: The Effect of Budget Deficit on Public Consumption in 1990-2018 Anisa Kurniarahman; Muhammad Anas
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 2 (2020): Journal of Business and Political Economy
Publisher : INDEF - Institute for Development of Economics and Finance

Fiscal policy remains a central tool to boost the economy. Indonesia has implemented a deficit fiscal policy for the budget deficit, but Indonesia has not achieved the economic growth target. This reality shows that there is a gap between policy and policy outcomes. This research aims to prove the existence of the Ricardian Equivalence Hypothesis (REH), namely whether the fiscal policy, in this case, the budget deficit, affects public consumption. In addition to analyzing gross domestic product (PDB) as a measure of revenue, government debt, and budget deficits, researchers added variable deposit rates as one of the monetary policy instruments. The research employs Adaptive Expectation Model analysis that shows that in the short and long term, only variable deposit rates had a significant effect on public consumption, meaning that other variables such as GDP, government debt, and budget deficits had no impact on public consumption in Indonesia for 1990-2018 period. Thus, this study validates the existence of Short Ricaermc both in the short and long term. With this result, the government must change the deficit policy strategy so that the results of productive spending can be enjoyed directly by the people. Some policies that should to maintain interest rates, not do too much debt, develop the country's industry, and country's deficit budgets to things that directly support the economy Keywords: fiscal policy, budget deficit, Ricardian Equivalence Hypothesis, public consumption, Adaptive Expectation ModelJEL Clasification : E2, E62, H62

Managerial Performance Improvement Strategy Based on Budget Participation Aprih Santoso; Andre S Nugroho
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 2 (2020): Journal of Business and Political Economy
Publisher : INDEF - Institute for Development of Economics and Finance

Regional autonomy has led to the decentralization of health services. The impact of the decentralization of health services is the emergence of differences between provinces and districts/cities in terms of the status of funding sources and changes in the structure of the health system in the regions. The main purpose of this study is to examine the relationship between budgetary participation and managerial performance in a public sector organization. It also attempts to examine whether organizational commitment and perception of innovation mediate the budgetary participation and performance relationship. As one of the government-owned public sector organizations in charge of health issues, Semarang City Health Office became the public spotlight regarding budget and performance. The study was conducted at Semarang City's Health Office, and all of the Public Health Centers, the sample size used is 60 echelon officers, using path analysis. The analysis results indicate that Budgetary participation affects managerial performance via the mediating variable of organizational commitment but not perception of innovation. There is a direct relationship between budgetary participation, managerial performance, organizational commitment, and perception of innovation Keywords: Budgetary, managerial performance, commitment, innovation, public sector. JEL Classification: H51, H61, R10

The Impact of Covid-19 on Gold Price in Indonesia Using ARIMA Intervention Dyah Makutaning Dewi; Alvian Ferrandy; Muhammad Zaky Nafi'; Nasrudin
Journal of Business and Political Economy : Biannual Review of The Indonesian Economy Vol. 2 No. 2 (2020): Journal of Business and Political Economy
Publisher : INDEF - Institute for Development of Economics and Finance

On March 2, 2020, Indonesia experienced first case of Covid 19. As a result, investors should be careful in investing so that investors choose gold in investing. Purpose of this study is analyze impact of Covid-19 on gold price in Indonesia. Research method uses ARIMA intervention. The results showed that the impact of Covid-19 on gold price in Indonesia is gradual temporary, meaning the intervention to influence the movement of gold price gradually and temporarily. Intervention of Covid-19 cases against gold price in Indonesia began to be felt after two weeks of the first case of Covid-19 in Indonesia which demonstrated by the increase in the gold price out of ordinary since the 16th day. On the 19th day after intervention, the gold price in Indonesia decreased. Furthermore, the gold price in Indonesia is again rising and expected to increase. The forecast results of the next 31 days show gold price in Indonesia has always increased. When Covid-19 has not been able to be resolved so that the confirmed positive case of Covid-19 continues to increase, gold investment is one of the safe investments. However, investors should pay attention to gold price movements if they want to invest in gold. Keywords: ARIMA Intervention, Covid-19, Gold Price JEL Classification: E22, H54, O16

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Esther Sri Astuti

Contact Email journal@indef.or.id

Phone +6221-7901001

Journal Mail Official journal@indef.or.id

Editorial Address Jalan Batu Merah Nomor 45 Pejaten Timur, Pasar Minggu Jakarta Selatan - Indonesia 12510

Location Kota adm. jakarta selatan, Dki jakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

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Abstract

Abstract

Abstract

Abstract

Contact Name
Esther Sri Astuti

Contact Email
journal@indef.or.id

Phone
+6221-7901001

Journal Mail Official
journal@indef.or.id

Editorial Address
Jalan Batu Merah Nomor 45 Pejaten Timur, Pasar Minggu Jakarta Selatan - Indonesia 12510

Location
Kota adm. jakarta selatan,

Dki jakarta

INDONESIA