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INDONESIA
Signifikan : Jurnal Ilmu Ekonomi
Published by Universitas Islam Negeri Syarif Hidayatullah Jakarta
ISSN : 20872046     EISSN : 24769223     DOI : 10.1016
Core Subject : Economy,
Economics, Econometrics & Finance
Arjuna Subject : -
Articles 12 Documents
 1   2 
Search results for , issue "Vol 10, No 1 (2021)" : 12 Documents clear
Harnessing The Potentials of Non-Oil Sectors of The Nigerian Economy to Enhance Sustainable Growth Emmanuel Ifeanyi Ajudua; Enesi Chukwuemeka Majebi; Vivian Anietem Odishika
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.18493

Abstract

In the face of global oil price instability, which seems to negatively impact the Nigerian economy, this study examined how the Nigerian government and its stakeholders have explored other sectors of her economy, such as agriculture, manufacturing, and tourism, enhancing sustainable growth. In achieving this, the study employed a time series data covering 24 years (1995-2018). The variables used in the study were real gross domestic product (RGDP), tourism share of GDP, agriculture share of GDP, and manufacturing share of GDP. The unit root test using the Augmented Dickey-Fuller test was conducted to test for stationarity among variables employed. The Autoregressive Distributive Lag Bound Test for Co-integration was also employed, while the ECM was also conducted to check for the speed of adjustment.The study findings revealed that, while the Nigerian government and industry stakeholders have made significant investments in the agriculture sector through the development of improved seedlings and farm infrastructure, there is a need for more investment in the manufacturing and tourism sectors of the nation's economy to boost her gross domestic product.JEL Classification: O13, O14, Q01, Z32How to Cite:Ajudua, E. I., Majebi, E. C., & Odishika, V. A. (2021). Harnessing The Potentials of Non-Oil Sectors of The Nigerian Economy to Enhance Sustainable Growth. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 51-62. https://doi.org/10.15408/sjie.v10i1.18493.
Monetary Policy and Nigeria's Trade Balance, 1980-2018 Musa Abdullahi Sakanko; Kanang Amos Akims
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.18132

Abstract

Several countries have integrated monetary easement into their foreign policy to faucet the gains from trade thereby, assuring that market forces determine monetary policy instruments such as interest rate and exchange rate. It is on this note and this paper empirically evaluate the effect of monetary policy on Nigeria's trade balance using the Autoregressive Distributed Lag Model on the time series data spanning from 1980 to 2018. The findings reveal that monetary policy tools of real interest and effective exchange rate have a long-run co-integration relationship and significant adverse effects on Nigeria's trade balance both in the short-run and long-run. Thus, the paper concludes that monetary policy is a veritable tool through which Nigeria can maintain a favorable trade balance. Therefore, policymakers should step on measures that will maintain low-interest rates to sustain a flexible exchange rate and remove all rigidities associated with the international payment system.JEL Classification: C22, E52, F13How to Cite:Sakanko, M. A., & Akims, K. A. (2021). Monetary Policy and Nigeria’s Trade Balance, 1980-2018. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 129-138. https://doi.org/10.15408/sjie.v10i1.18132.
Government Stimulus Policy Effects to Foster Indonesia's Economic Growth: Evidence from Seventeen Years' Experience Agus Sriyanto; Sri Murwani; Eleonora Sofilda
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.15480

Abstract

We study the budget stimulus effects and government spending to help foster the recovery of Indonesia's current economic growth that was hit by the monetary crisis 1997 and 2008. Using government spending allocation policies through capital expenditures, infrastructure expenditures, financing through government debt, private debts, and increased productivity through export and import activities. This research provides to proves the extent to which macroeconomic variables could promote Indonesia's economic growth due to the crisis—using quantitative analysis of time series in the analysis of cointegration autoregressive distribution lag and bounds testing cointegration starting from 2001 Q4 to 2018q4 data. We can prove that in the short term, the most influential factor in economic growth is the first lag of the GDP growth itself; The first lag of exports, and the first lag of government spending and imports. However, some factors still negatively affect corruption control, government effectiveness, and government debt. While in the long term, government expenditure and imports still have a positive effect, but corruption control is still hurt GDP.JEL Classification: G18, O47How to Cite:Sriyanto, A., Murwani, S., & Sofilda, E. (2021). Government Stimulus Policy Effects to Foster Indonesia's Economic Growth: Evidence from Seventeen Years' Experience. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 63-76. https://doi.org/10.15408/sjie.v10i1.15480.
E-money and Stock: Empirical Evidence from Indonesia and Thailand Hasdi Aimon; Sri Ulfa Sentosa; Moh. Ridha Mahatir
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.15380

Abstract

E-money is a type of electronic or digital payment that replaces cash payments. These technological developments will have an impact on reducing the use of cash. The use of e-money possibly affects stock, which is a form of securities. Therefore, the purpose of this study is to assess the relationship between e-money and stock. The study uses the two-stage least squares model to analyze quarterly data for 2011Q1-2019Q4. The study found no relationship between stock and e-money in Indonesia, whereas, in Thailand, there was a relationship between stock and e-money. There is no relationship between e-money and stock in Indonesia and Thailand. The study recommends the Indonesian government or central bank adopt the policies that Thailand has implemented in stock that affects e-money. Stocks can affect the use of e-money due to the profits or losses of the stock that will impact the use of e-money.JEL Classification: D53, E40How to Cite:Aimon, H., Sentosa, S. U., & Mahatir, M. R. (2021). E-money and Stock: Empirical Evidence from Indonesia and Thailand. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 139-148. https://doi.org/10.15408/sjie.v10i1.15380.
Calorie Consumption and Indonesia’s Household Expenditure: Is There a Paradox? Rustam Rustam; Mohamad Ikhsan; Djoni Hartono; Sudarno Sumarto
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.15310

Abstract

During 2011-2014, anecdotal evidence suggested a paradox in Indonesia concerning calorie intake that had fallen, despite increased per capita expenditure and household size. This study will rigorously analyze calorie intake by applying several analytical methods, mainly repeated cross-section methods using an instrumental variable. The study used national scale data from the National Socio-Economic Survey (Susenas) in March 2011-2014. This study finds a meaningful relationship between calorie intake and per capita expenditure and household size in Indonesia in the 2011-2014 period. Besides, calorie needs and the "Subsidized Rice for the Poor" or the Raskin program are positively correlated with calorie intake. The research also suggests that the government needs to maintain household food assistance programs, ensure the stability of staple food prices, and apply economies of scale in calculating the poverty line.JEL Classification: C31, C36, D12, D90Rustam., Ikhsan, M., Hartono, D., & Sumarto, S.. (2021). Calorie Consumption and Indonesia’s Household Expenditure: Is There A Paradox?. Signifikan: Jurnal Ilmu Ekonomi, 10 (1), 1-12. http://doi.org/10.15408/sjie.v9i2.15310. 
Could Palm Oil Plantation Increase Individual Expenditure? The Dutch Disease Implication in Indonesia Cavin Dennis Tito Siregar; Estro Dariatno Sihaloho
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.15831

Abstract

Indonesia is the largest palm-oil producing country, covering almost 80 percent of global production. With the extensive production capacity, this research seeks to analyze the linkages between palm oil production and its impact on the economy by the individual monthly expenditure. To reveal the connections, this research analyzes the Dutch Disease phenomenon in Indonesia, which explains how the non-tradable sector, palm-oil industry, affects the tradable sector like the manufacturing industry. The panel data variables are selected from 2011 to 2015 within 22 provinces to see the Dutch Disease's implications. As the model is suffered from the endogeneity, the correlation of explanatory variables with the error term, the research uses the Instrumental-Variable Regression method. The analysis indicates that Indonesia was not suffered from Dutch Disease. Therefore, palm oil production could increase individual expenditure. Finally, the extension of palm oil plantations could benefit Indonesia's economy without affecting other sectors.JEL Classification: E21, E24, O13, O44How to Cite:Siregar, C. D. T., & Sihaloho, E. D. (2021). Could Palm Oil Plantation Increase Individual Expenditure? The Dutch Disease Implication in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 77-92. doi: http://doi.org/10.15408/sjie.v10i1.15831.
The Determinants of Economic Growth: Empirical Study of 10 Asia-Pacific Countries Muhammad Safar Nasir; Ana Rahmawati Wibowo; Dedy Yansyah
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.18752

Abstract

The purpose of this research to examine influence several independent variables, especially corruption, foreign direct investment (FDI), population growth, and government expenditure on the economic growth of 10 Asia-Pacific countries, and prove the hypothesis of the sand wheels theory whether corruption causes a decline and a slowdown in economic growth. This study uses panel data. The results showed that the variables of corruption have a negative impact on economic growth, foreign direct investment (FDI), and government expenditure have positives that significantly affect the level of economic growth in 10 Asia-Pacific countries. However, population growth does not significantly affect economic growth. The result implies that corruption has a negative effect on economic growth in 10 Asia-Pacific countries. Such an outcome provides evidence and confirms the hypothesis that corruption can sand the wheel of an economy. Countries must eradicate all forms of corruption and maintain a conducive investment climate so that there is a level of trust, especially in the Asia-Pacific countries, to create productive economic growth.JEL Classification: O47, D73, C12How to Cite:Nasir, M. S., Wibowo, A. R., & Yansyah, D. (2021). The Determinants of Economic Growth: Empirical Study Of 10 Asia-Pacific Countries. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 149-160. https://doi.org/10.18752/sjie.v10i1.15310.
Do Remittances Matter for Poverty Reduction in ASEAN? Taufiq Fahrizal; Aliasuddin Aliasuddin; M. Shabri Abd. Majid
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.19154

Abstract

This study examined the influence of remittances and macro-economic variables on poverty in ASEAN-4 countries (i.e., Indonesia, Malaysia, Thailand, and the Philippines) over the 1991 to 2019 period using a panel Autoregressive Distributed Lag (ARDL) model. The study documented that remittance and unemployment have a significant effect on poverty reduction in the long run. Meanwhile, economic growth and the Gini coefficient were found to have an insignificant influence on poverty reduction. The speed of adjustment due to shocks in the short term is restored within eight months into the long-run equilibrium. Our results emphasize that poverty in ASEAN-4 must be addressed with pragmatic macroeconomic policies, especially policies that affect the poor's income. Besides, with the real contribution of remittances, the strengthening of international cooperation related to migrant workers is also essential to alleviate poverty.JEL Classification: F22, F24, I32, J01, O15How to Cite:Fahrizal, T., Aliasuddin., & Majid, M. S. A. (2021). Do Remittances Matter for Poverty Reduction in ASEAN?. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 13-30. https://doi.org/10.15408/sjie.v10i1.19154.
Indonesia Local Industry Structure and Firms Productivity in Industrial Area Rinayanti Rinayanti; Riatu Mariatul Qibthiyyah
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.17197

Abstract

Using three industry structure indices: specialization, diversification, and competition, we explore how local industry structure may affect firm productivity in the industrial estates. Based on unbalanced panel data of large and medium-sized industrial firms in Indonesia during 2010-2015, our study found that local industry structure influences firm productivity, measured as total factor productivity (TFP). The effect differs between firms outside the industrial estate and firms in the industrial estate. Specialization decreases the productivity of both firms in the industrial estate and outside. Diversification has a positive effect on increasing firm productivity in the industrial estate. As for firms outside the industrial estate, diversification has a negative effect, but the effect is less significant. Meanwhile, local industry competition has a positive and significant effect on firm productivity outside the industrial estate, but the effect is not significant for firms within the industrial estate. Empirically, firms in industrial estates may only benefit from a diversified local industry structure.JEL Classification: D24, L52, R10How to Cite:Rinayanti., & Qibthiyyah, R. M. (2021). Indonesia Local Industry Structure and Firms Productivity in Industrial Area. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 93-112. doi: http://doi.org/10.15408/sjie.v10i1.17197.
World Oil Price Changes and Inflation in Indonesia: A Nonparametric Regression Approach Indra Darmawan; Hermanto Siregar; Dedi Budiman Hakim; Adler Haymans Manurung
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 1 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i1.19010

Abstract

This study aims to investigate the effect of world oil price changes on inflation in Indonesia. We used a nonparametric regression approach that never been employed in previous studies, both domestically and internationally. This study shows that the second-order Epanechnikov kernel function is statistically significant in explaining the effect of world oil price changes on Indonesia's inflation. We found that the world oil price changes had a lower effect on Indonesia's inflation when its price below USD 100 per barrel, and its effect became higher when its price above USD 100 per barrel. These results have important implications for Bank Indonesia and Indonesia's government in response to the world oil price changes. The policies that aimed at reducing the effect of world oil price changes on inflation in Indonesia should consider the world oil price level.JEL Classification: A12, B26, C14, E31, F29, F62How to Cite:Darmawan, I., Siregar, H., Hakim, D.B., & Manurung, A.H.. (2021). World Oil Price Changes and Inflation in Indonesia: A Nonparametric Regression Approach. Signifikan: Jurnal Ilmu Ekonomi, 10(1), 161-176. https://doi.org/10.15408/sjie.v10i1.19010.

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