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Journal of Indonesian Economy and Business

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Published by Universitas Gadjah Mada

ISSN : 20858272 EISSN : 23385847 DOI : -

Core Subject : Economy,

Economics, Econometrics & Finance

Journal of Indonesian Economy and Business (JIEB) is open access, peer-reviewed journal whose objectives is to publish original research papers related to the Indonesian economy and business issues. This journal is also dedicated to disseminating the published articles freely for international academicians, researchers, practitioners, regulators, and public societies. The journal welcomes author from any institutional backgrounds and accepts rigorous empirical or theoretical research paper with any methods or approach that is relevant to the Indonesian economy and business content, as long as the research fits one of three salient disciplines: economics, business, or accounting.

Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)

Articles 12 Documents

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Search results for , issue "Vol 20, No 2 (2005): April" : 12 Documents clear

INSTITUTIONS DO REALLY MATTER: IMPORTANT LESSONS FROM VILLAGE CREDIT INSTITUTIONS OF BALI Arsyad, Lincolin
Journal of Indonesian Economy and Business Vol 20, No 2 (2005): April
Publisher : Journal of Indonesian Economy and Business

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Institusi dapat didefinisikan sebagai aturan atau prosedur yang mengatur interaksiantar manusia (agents) dan organisasi yang mengimplementasikan aturan-aturan tersebut untuk mencapai tujuan yang diinginkan. Institusi membentuk struktur kehidupan keseharian melalui penentuan dan pembatasan pilihan-pilihan dari individu danorganisasi. Secara khusus, keberhasilan dan sustanabilitas suatu perusahaan, termasuklembaga keuangan mikro, sangat dipengaruhi oleh lingkungan institusional di manaperusahaan tersebut beroperasi, baik institusi formal maupun informal.Dengan menggunakan pendekatan analisis institusional, tulisan ini mendiskusikanbagaimana institusi formal telah secara tepat dibangun berdasarkan institusi informal.Berdasarkan studi kasus Lembaga Perkreditan Desa (LPD) di Bali, tulisan inimenunjukkan pengaruh institusi informal dan formal serta keterkaitan antara keduamacam institusi tersebut di dalam praktik operasional LPD di Bali dan pelajaran apa yangdapat dipetik dari pengalaman LPD tersebut.Keywords : Microfinance institution, Village Credit Institutions, Informal Institutions.

PERKEMBANGAN EKONOMI DAN PERBANKAN PROPINSI JAWA TENGAH TAHUN 2004 Arief, Amril
Journal of Indonesian Economy and Business Vol 20, No 2 (2005): April
Publisher : Journal of Indonesian Economy and Business

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Central Javaâs economy in 2004 has a higher economic growth and inflation than 2003.Economic growth on supply side was influenced by three economic sectors (trade, hotel &restaurant, manufacturing industry, and services). On demand side, economic growth wasinfluenced by private consumption, government consumption, and export. The priordeterminance of inflation in 2004 is come from supply side: volatile foods and clothes (cost push inflation). On demand side, inflation was influenced by communication and financial services. Banking sector (commercial bank and rural bank) has a good performance in 2004. All of banking performance indicators were increased, i.e. total asset, total deposit, credit, and loan to deposits ratio. Meanwhile, ratio of non performing loans was declined.Central Javaâs export in 2002-2004 has increased significantly that be dominated byfour prime industries (textile, furniture, wearing apparel, and products of wood). Thecontribution of four industries is 76,04% of total export. Businessmen and exporters havebeen understood that high level competitiveness of the export commodities is majorprecondition to compete in international market. This awareness makes optimism spirit ofbusinessmen to increase Central Javaâs export performance.Outlook of Central Javaâs economy in 2005 is predicted will have a higher economicgrowth with higher inflation than 2004. Two dominant economic sectors (manufacturingindustry sector and trade, hotel & restaurant sector) will lead its growth on supply side.Private consumption, investment, and export will be a prime mover of growth on demandside. The administered price, especially increasing of oil (BBM) price, will be a priordeterminance of inflation in 2005. Outlook of banking sector, especially on credit, also hasa good prospect. This is based on increasing trends of real sector and household needs,stability of social and political condition, and infrastructure projects of central governmentthat will be supported by banking sector. Outlook of Central Javaâs export in 2005 isdepend on performance of export commodities of four industries above. To realize it,regional government of Central Java must create an export development program focusing on product quality improvement. Meanwhile, the linked institutions (public and private institutions) on export development must cooperate on implementing and sustainable program to realize an effective synergism.

PERTUMBUHAN EKONOMI VS EKSPOR SEKTORAL INDONESIA PASKA OIL BOOM: UJI KAUSALITAS DAN STUDI KOMPARATIF DENGAN THAILAND DAN MALAYSIA Musaiyadi, Musaiyadi
Journal of Indonesian Economy and Business Vol 20, No 2 (2005): April
Publisher : Journal of Indonesian Economy and Business

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The changing of Indonesiaâs industrialization policy from inward oriented (importsubstitution) to outward oriented (export oriented) strategy has delivered Indonesia success in increasing its export within two last decade. Moreover, this strategy also has changed the composition of Indonesiaâs export from primary based products (oil and agriculture) to secondary based products (manufacture).This study examines how so far the causality relationship between national income ofIndonesia and export by sector (agriculture, oil, and manufacture), and than comparingthis with Thai and Malaysia as LDCs in Asian. By using Grangerâs causality test modifiedby Hsioâs criteria on quarterly data from 1982.1 â 2002.4, this paper concludes: (1)Indonesiaâs national income influences its industrial export positively, (2) Thaiâs nationalincome influences its agricultural export positively, and (3) Malayâs industrial exportinfluences its national income positively, and Malayâs national income influences itsindustrial export negatively.The result of this study shows that the change of structural transformation from primarybased export (agriculture and oil) to secondary based export (manufacture) in stimulatingeconomic growth has been achieved by Malaysia. In contrast, this strategy is not occurredin Indonesia and Thailand. In the other word, export for Indonesia and Thailand is just aprogressive process in stimulating economic growth, not to be an essential factor inconstructing economic growth.Keywords: Economic Growth, Export, Structural Transformation

ANALISIS PENGARUH HARI PERDAGANGAN TERHADAP RETURN SAHAM: PENGUJIAN WEEK-FOUR EFFECT DAN ROGALSKI EFFECT DI BURSA EFEK JAKARTA Cahyaningdyah, Dwi
Journal of Indonesian Economy and Business Vol 20, No 2 (2005): April
Publisher : Journal of Indonesian Economy and Business

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The paper investigates the day of the week effect in Jakarta Stock Exchange by using 73active stocks during 2001-2003 period. The findings indicate that there is a day of the week effect in JSX. The highest and the lowest return are observed on Friday and Monday,respectively. Analysis of week-four effect in JSX find this phenomenon does not exist inJakarta Stock Exchange. This study shows that Monday effect occurs not only in the lasttwo weeks (fourth and fifth weeks) but also in the first three weeks.Investigation about relationship between Monday effect and Fridayâs return indicatesthat the negative mean return observed on Monday is not only the consequence of negative return occurring in earlier trading session. Futhermore, non-negative return on Friday also contributes to Monday effect. Further investigation shows that Rogalski effect presents in April. Finally, the study shows the Mondayâs return is only positive in April.Key words : Monday effect, week-four effect, Rogalski effect.

UJI HIPOTESIS âJALAN-ACAKâ DALAM FUNGSI KONSUMSI DI INDONESIA Ismail, Munawar; Kalirge, David; Wahyurina, Martanti
Journal of Indonesian Economy and Business Vol 20, No 2 (2005): April
Publisher : Journal of Indonesian Economy and Business

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This study is aimed at testing the random-walk hypothesis in the Indonesian economyconsumption function. If the random-walk exists then the consumption can not be predictedsistematicaly. The study found that there was no random-walk in the Indonesianconsumption function either under the assumption of constant interest rate or that ofvariable interest rate. Other finding is that both nominal interest rate and the rate ofinflation had significant effect on the consumption.Keywords: consumption, random-walk, rational expectation, life cycle-permanent income

DYSFUNCTIONAL INSTITUTIONS IN THE CASE OF LOCAL ELITE BEHAVIOUR IN DECISION-MAKING ABOUT LOCAL GOVERNMENT BUDGETS IN INDONESIA Jaya, Wihana Kirana
Journal of Indonesian Economy and Business Vol 20, No 2 (2005): April
Publisher : Journal of Indonesian Economy and Business

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Membangun kelembagaan yangâterpercaya dan terprediksi âadalah langkah yang baikdi dalam mendukung sebuah sistem otonomi daerah di Indonesia. Makalah ini mencobamelihat kondisi aturan main yang belum sempurna di dalam proses perencanaan danimplementasi Anggaran Pendapatan Belanja daerah (APBN) di tingkat Kabupaten. Buktiempiris menunjukan bahwa pendelegasian kewenangan dari pemerintah pusat kepemerintah daerah kabupaten telah mendorong elit lokal untuk menyalahgunakankekuasaan di dalam proses APBD. Hal ini terjadi karena proses pendelegasiankewenangan itu tidak juga disertai pendelegasian pengawasan, penegakan, akuntabilitasserta lemahnya kontrol masyarakat.Keywords: Dysfunctional institutions, asymmetric information and lack of enforcement

ANALISIS PENGARUH HARI PERDAGANGAN TERHADAP RETURN SAHAM: PENGUJIAN WEEK-FOUR EFFECT DAN ROGALSKI EFFECT DI BURSA EFEK JAKARTA Dwi Cahyaningdyah
Journal of Indonesian Economy and Business (JIEB) Vol 20, No 2 (2005): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6567

The paper investigates the day of the week effect in Jakarta Stock Exchange by using 73active stocks during 2001-2003 period. The findings indicate that there is a day of the week effect in JSX. The highest and the lowest return are observed on Friday and Monday,respectively. Analysis of week-four effect in JSX find this phenomenon does not exist inJakarta Stock Exchange. This study shows that Monday effect occurs not only in the lasttwo weeks (fourth and fifth weeks) but also in the first three weeks.Investigation about relationship between Monday effect and Friday’s return indicatesthat the negative mean return observed on Monday is not only the consequence of negative return occurring in earlier trading session. Futhermore, non-negative return on Friday also contributes to Monday effect. Further investigation shows that Rogalski effect presents in April. Finally, the study shows the Monday’s return is only positive in April.Key words : Monday effect, week-four effect, Rogalski effect.

DYSFUNCTIONAL INSTITUTIONS IN THE CASE OF LOCAL ELITE BEHAVIOUR IN DECISION-MAKING ABOUT LOCAL GOVERNMENT BUDGETS IN INDONESIA Wihana Kirana Jaya
Journal of Indonesian Economy and Business (JIEB) Vol 20, No 2 (2005): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Membangun kelembagaan yang”terpercaya dan terprediksi “adalah langkah yang baik di dalam mendukung sebuah sistem otonomi daerah di Indonesia. Makalah ini mencoba melihat kondisi aturan main yang belum sempurna di dalam proses perencanaan dan implementasi Anggaran Pendapatan Belanja daerah (APBN) di tingkat Kabupaten. Bukti empiris menunjukan bahwa pendelegasian kewenangan dari pemerintah pusat ke pemerintah daerah kabupaten telah mendorong elit lokal untuk menyalahgunakan kekuasaan di dalam proses APBD. Hal ini terjadi karena proses pendelegasian kewenangan itu tidak juga disertai pendelegasian pengawasan, penegakan, akuntabilitas serta lemahnya kontrol masyarakat.

INSTITUTIONS DO REALLY MATTER: IMPORTANT LESSONS FROM VILLAGE CREDIT INSTITUTIONS OF BALI Lincolin Arsyad
Journal of Indonesian Economy and Business (JIEB) Vol 20, No 2 (2005): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6569

PERKEMBANGAN EKONOMI DAN PERBANKAN PROPINSI JAWA TENGAH TAHUN 2004 Amril Arief
Journal of Indonesian Economy and Business (JIEB) Vol 20, No 2 (2005): April
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22146/jieb.6570

Central Java’s economy in 2004 has a higher economic growth and inflation than 2003.Economic growth on supply side was influenced by three economic sectors (trade, hotel &restaurant, manufacturing industry, and services). On demand side, economic growth wasinfluenced by private consumption, government consumption, and export. The priordeterminance of inflation in 2004 is come from supply side: volatile foods and clothes (cost push inflation). On demand side, inflation was influenced by communication and financial services. Banking sector (commercial bank and rural bank) has a good performance in 2004. All of banking performance indicators were increased, i.e. total asset, total deposit, credit, and loan to deposits ratio. Meanwhile, ratio of non performing loans was declined.Central Java’s export in 2002-2004 has increased significantly that be dominated byfour prime industries (textile, furniture, wearing apparel, and products of wood). Thecontribution of four industries is 76,04% of total export. Businessmen and exporters havebeen understood that high level competitiveness of the export commodities is majorprecondition to compete in international market. This awareness makes optimism spirit ofbusinessmen to increase Central Java’s export performance.Outlook of Central Java’s economy in 2005 is predicted will have a higher economicgrowth with higher inflation than 2004. Two dominant economic sectors (manufacturingindustry sector and trade, hotel & restaurant sector) will lead its growth on supply side.Private consumption, investment, and export will be a prime mover of growth on demandside. The administered price, especially increasing of oil (BBM) price, will be a priordeterminance of inflation in 2005. Outlook of banking sector, especially on credit, also hasa good prospect. This is based on increasing trends of real sector and household needs,stability of social and political condition, and infrastructure projects of central governmentthat will be supported by banking sector. Outlook of Central Java’s export in 2005 isdepend on performance of export commodities of four industries above. To realize it,regional government of Central Java must create an export development program focusing on product quality improvement. Meanwhile, the linked institutions (public and private institutions) on export development must cooperate on implementing and sustainable program to realize an effective synergism.

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INDONESIA

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

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Contact Name Wuri Handayani, Ph.D.

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Editorial Address Faculty of Economics and Business, Universitas Gadjah Mada Jalan Sosio Humaniora No. 1, Yogyakarta 55281

Location Kab. sleman, Daerah istimewa yogyakarta INDONESIA

Abstract

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Contact Name
Wuri Handayani, Ph.D.

Contact Email
-

Phone
-

Journal Mail Official
-

Editorial Address
Faculty of Economics and Business, Universitas Gadjah Mada Jalan Sosio Humaniora No. 1, Yogyakarta 55281

Location
Kab. sleman,

Daerah istimewa yogyakarta

INDONESIA