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Economic Journal of Emerging Markets
ISSN : 20863128     EISSN : 2502180x     DOI : -
Core Subject : Economy,
The Economic Journal of Emerging Markets (EJEM) is a peer-reviewed journal which provides a forum for scientific works pertaining to emerging market economies. Published every April and October, this journal welcomes original research papers on all aspects of economic development issues. The journal is fully open access for scholarly readers.
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Articles 6 Documents
Search results for , issue "Volume 11 Issue 1, 2006" : 6 Documents clear
Geographical Distribution of Technical Efficiency in Indonesian Rice Production during The Period of 1979-1994 Joko Mariyono
Economic Journal of Emerging Markets Volume 11 Issue 1, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v11i1.573

Abstract

Agriculture still plays a key role in Indonesian economic development, but rice pro-duction is still less competitive than that in other countries. One possible cause is low pro-ductivity, which is to some extent dependent on technical efficiency. This study measures the technical efficiency of rice production in five regions, and examines factors determining its variability. This study uses stochastic frontier of production functions to estimate the techni-cal efficiency. The results indicate that variation in rice production is due largely to varia-tion in technical efficiency. Rice production in Bali is the most technically efficient, whereas in Kalimantan, Sulawesi and Nusa-Tenggara are still inefficient. The efficiency is dependent on facilities available in each region, government programs and the quality of land. Thus there is still a considerable opportunity for improvement in productivity of rice farms outside Java and Bali, given the state of agricultural technology for rice production. Improving ag-ricultural facilities, such as water irrigation and training is capable of enhancing productiv-ity of rice. Keywords: technical efficiency, stochastic frontier production function, panel data analysis
Integration of World Stock Market an Emperical Investigation Nalini Prava Tripathy
Economic Journal of Emerging Markets Volume 11 Issue 1, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/vol11iss1aa575

Abstract

This paper has analyzed the integration of world stock market with emerging mar-ket by using the Granger Causality test and Johansens co integration test. This paper has found one-way significant causality between some of the emerging markets with world mar-kets and concludes that some of the emerging markets have long term equilibrium relation-ship with world stock market.Key words: world market, emerging market, causality test, Johansens co integration test
Human Capital Attainment and Performance of Small and Medium Scale Industries in Malaysia Rahmah Ismail
Economic Journal of Emerging Markets Volume 11 Issue 1, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v11i1.578

Abstract

In Malaysia, the small and medium scale industries (SMIs) comprise more than 90 percent of the total establishments in the manufacturing sector. One of the pertinent issues related to industrial development in Malaysia is less competitiveness among the SMIs as compared to the large-scale industries (LSIs). This subsequently leads to lower contribution of the SMIs to the value added of the manufacturing sector. Competitiveness is closely re-lated to human capital possession like education, training and experience among workers in an organization.  This paper attempts to examine the impact of human capital variables on SMIs’ output or value added and labor productivity. The analyses will be based on the data of 138 SMIs collected in 1997 through a field survey. The data covers six major industries in SMIs, namely, food and beverage, wood-based, rubber-based, plastic-based, metal-based and electrical electronic. In this survey workers were grouped into various levels of educa-tion to cover the non-schooling, primary, secondary and tertiary education. They were also categorized into five groups to represent professional, technical, administrative and manage-rial, supervisory and production workers. To achieve the objective of this paper, a Cobb-Douglas production function is estimated by incorporating human capital variables as inde-pendent variables in the output, value added and productivity functions. The study shows that year of schooling amongst workers, workers training and job categories have a significant positive relationship with SMIs’ output and value added growth. Capital-labor ratio and tertiary education have a positive impact on the labor productivity growth.Keywords: small and medium scale industry, human capital, labor productivity
Model Pengukuran Kinerja dan Efisiensi Sektor Publik Metode Free Disposable Hull (FDH) Akhmad Syakir Kurnia
Economic Journal of Emerging Markets Volume 11 Issue 1, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v11i1.567

Abstract

Improved efficiency is the main effect expected from fiscal decentralization. Im¬proved efficiency could be gained on the presumptions that local governments are much better in identifying and fulfilling the needs of households, since they are closer to them, and in mobilizing and using local resources to pay for goods and services having purely local impacts. Once, improved efficiency could be gained, public sector performance increases.I developed a model to measure public sector efficiency (PSE) and public sector performance (PSP). I compute public sector performance (PSP) and Public Sector Effo¬ciency (PSE) indicators comprising a composite and five sub-indicators for Regen¬cy/municipolity in Central Java Province. The first two indicators reflects socio-economic indicators that take into account education and health outcomes. Three other indicators re¬flect the standard “musgravian” task for government: allocation, distribution and stabilisa¬tion. Keywords:    Fiscal Decentralization, Public Sector Efficiency (PSE), Public Sector Perform¬ance (PSP), Free Disposable Hull (FDH).
Pertumbuhan Ekonomi Regional : Studi Kasus Analisis Konvergensi Antar Propinsi di Indonesia Jamzani Sodik
Economic Journal of Emerging Markets Volume 11 Issue 1, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v11i1.570

Abstract

This paper examines the determinants of regional economic growth in Indonesia, and test for convergence PDRB per capita 26 province the period 1993 to 2003, using GLS method (General Least Square) for process polling data. Factor that affect the regional economic growth are initial level of PDRB riil per capita(X1), health(X2), education(X3), density(X3), and economic indicator: foreign direct investments (X4), rate openness economic province (X5), and inflation rate (X6).The results found regional economic growth for periods 1993-2003 are influenced by density(X3), rate openness economic province (X5), and inflation rate (X6). However health(X2), and  education(X3) not affect to regional economic growth.We find also evidence of absolute convergence and conditional convergence, however sigma ( ) convergence fluktuatif  for periods 1993-2003.Keywords : regional economic growth, convergence, and panel data
Seasonality in Equity Market : New Evidence from Four Emerging Market Ruzita Abd Rahim; D. Agus Harjito
Economic Journal of Emerging Markets Volume 11 Issue 1, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v11i1.576

Abstract

This study investigates the existence of seasonality effect in Malaysia and its three neighboring markets− Indonesia, Singapore, and Thailand– using a sample of 24 selected sectoral and broad indexes over the period of January 1988 to December 2005. This study also examines the influence of trading activity on the market anomaly by dividing the 18-year sample period into thin and active trading sub-periods. The existence of seasonality effect is revealed using a non-parametric Mann-Whitney U test, which later is verified using time-series regression. Considerable evidence in favor of February effect is obtained in Malaysia from the Mann-Whitney U tests in the full period and particularly in the active trading sub-period but it nearly disappears in the thin trading sub-period. While slight evidence of December effect is detected in Singapore and Indonesia, January effect is nearly non-existence in Thailand. In the meantime, the influence of trading activity on seasonality effect is only confined to the equity market of Malaysia. The results from time-series regressions are consistent with these findings. Given the fact that none of these emerging markets impose tax on capital gains, the existence of seasonality effect in month other than the tax-month provides additional evidence against the tax-loss selling hypothesis. Overall, the study concludes that while all except Thailand suggest the presence seasonality effect, from an investment perspective, only in the case of Malaysia the effect seems strong enough to command an exploitable strategy but even then, such rule should be of comfort only if applied in the active-trading period.   Keyword: Seasonality Effect; February Effect; Trading Activity; Emerging Markets

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