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All Journal Contemporary Studies in Economic, Finance and Banking (CSEFB)
Devia, Vietha
Unknown Affiliation
Economics, Econometrics & Finance Social Sciences

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The Effects of Interest Rate, Household Consumptions, MSME Loans, and Domestic Investment Realization on GDP From 2011 to 2021 Tri Wibowo, Mohamad Rafif; Devia, Vietha
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 3 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.3.17

Abstract

Economic growth is a crucial indicator for assessing a country's development success, with Gross Domestic Product (GDP) serving as its benchmark. Fluctuations in Indonesia's GDP over the last decade have been influenced by various factors, including interest rates, household consumption, MSME loans, and domestic investment realization. This research aims to analyses the impact of these four variables on Indonesia's GDP from 2011 to 2021. The study uses a quantitative approach with multiple linear regression, drawing on secondary data from BPS (Statistics Indonesia), Bank Indonesia, and BKPM (Indonesia Investment Coordinating Board). The findings reveal that interest rates and MSME loans have a positive but not significant impact on GDP, while household consumption and domestic investment realization positively and significantly affect GDP. These results highlight the importance of boosting public consumption and realizing domestic investment as key strategies to accelerate national economic growth.
Monetary Policy and MSME Credit in the Perspective of ECM Nabila, Shofiya; Devia, Vietha
Contemporary Studies in Economic, Finance and Banking Vol. 4 No. 3 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/csefb.2025.04.3.06

Abstract

Micro, Small, and Medium Enterprises (MSMEs) are a strategic sector in the national economy, but the stability of their financing is influenced by macroeconomic conditions and monetary policy. Studies on the relationship between monetary policy and MSME credit financing are still relatively limited. This study aims to analyze the effect of the benchmark interest rate, money supply, and inflation on MSME credit financing. Using monthly data from 2014 to 2024 and the Error Correction Model (ECM) approach, this study examines the short-term and long-term relationships between variables. The results show that the benchmark interest rate does not have a significant impact in the short term but has a significant positive impact in the long term. The money supply has a significant positive impact in both the short and long term, while inflation has a significant negative impact on both time horizons. These findings provide empirical evidence of the effectiveness of monetary policy in influencing SME financing. The implications of the study emphasize that the formulation of monetary policy needs to consider the differences in short-term and long-term dynamics to better align with the sustainable financing needs of SMEs.
The Influence of Third-Party Funds, LDR, CAR, and BI Rate on the Loan Distribution of Commercial Banks in Indonesia Fauzi, Farity Adelia Lestari; Devia, Vietha
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 2 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aims to examine the influence of internal and external factors on the development of credit distribution in commercial banks during the period 2014–2023. Economic uncertainty and banking financial performance that potentially affect credit distribution have received relatively limited attention, particularly in the context of Business Group 4 Commercial Banks (BUKU 4) in Indonesia. This study employs panel data regression using the Random Effect Model (REM) approach. The results indicate that Third-Party Funds (DPK) and the Loan to Deposit Ratio (LDR) have a positive and significant effect on credit distribution, while the Capital Adequacy Ratio (CAR) and the BI Rate do not show a significant impact. These findings suggest that effective liquidity management and the optimization of third-party fund mobilization are key factors in supporting the expansion of bank credit distribution.
Analysis of the Influence of Financial Distress Based on Altman Z-Score Model on Stock Prices of Transportation and Tourism Companies in the Indonesia Stock Exchange in the Period of 2019-2023 Sidiq, Nadia Azhani; Devia, Vietha
Contemporary Studies in Economic, Finance and Banking Vol. 5 No. 2 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

This study aims to elaborate the effect of the Altman Z”-score (1984) financial distress variable on stock prices in the transportation and tourism sector listed on the Indonesia Stock Exchange. This study uses a descriptive method with a quantitative approach. The research data is secondary data sourced from the annual financial reports of transportation and tourism sector companies for the period 2019 – 2023, with the amount of samples attainable is 21 companies. Using panel data regression as a hypothesis testing technique, the following are the research results: 1. The Working Capital / Total Asset and Earnings Before Interest and Tax / Total Asset variables do not significantly affect stock prices, 2. The Retained Earnings / Total Asset and Book Value of Equity / Book Value of Debt variables have an influence on stock prices. Together, the four variables have a significant impact on stock prices. The four variables can also explain their impact on stock prices. The implications of this study provide an understanding for management and public investors about financial difficulties and to maintain the stability of the company's debt level.
Co-Authors Fauzi, Farity Adelia Lestari Nabila, Shofiya Sidiq, Nadia Azhani Tri Wibowo, Mohamad Rafif