Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal JDE (Journal of Developing Economies) Muslim Business and Economic Review SENMEA
Afin, Rifai
Unknown Affiliation
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

Published : 3 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 3 Documents
Search

 1 
Two Different Approaches of Estimating Production Factor Demand: Evidence from Indonesian Large and Medium Enterprises Afin, Rifai
Muslim Business and Economics Review Vol. 4 No. 1 (2025)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v4i1.415

Abstract

This study measures the elasticity of production factors of manufacturing companies in Indonesia by applying demand model for production inputs. Using survey data of large and medium-sized companies in Indonesia from 1995-2015, this study calculates the elasticity of demand for factors of production through two approaches: first, the transcendental logarithm equations applying unrestricted, homotheticity, and adjustment cost model, and second, a system of equations. We use the variation in the group of industries as a proxy for the market price of inputs. The results show that there is heterogeneity in terms of the magnitude and nature of the cross-price elasticity between production inputs for both complementary and substitute inputs. Meanwhile, the own price elasticity is negative for all production inputs and there are positive effect adjustment costs that must be borne by firms in expanding production inputs.
East Java Manufacturing Sector Growth Dynamics: Need More Physical Capital or Quality of Labor? Afin, Rifai
Journal of Developing Economies Vol. 2 No. 2 (2017)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (164.052 KB) | DOI: 10.20473/jde.v2i2.6551

Abstract

This paper identifies the dynamic pattern of East Java growth of manufacturing sector and addresses the basic questions of individual economic firms whether they would be better off if increasing physical capital or investment in human capital. To know which one of the two main inputs in industrial sector that is more needed than the other, the marginal productivity of each production factors must be identified. I estimate the models which accommodate the optimum input level by applying general method of moment (GMM) and panel instrumental variable (IV) techniques on some reduced form models. I find that on the demand function of labor and capital as the first step of IV or Two Stage Least Square (2SLS) show that the elasticity of both of them are inelastic and elasticity of labor demand is more sensitive than capital. In the production function as the second step, yields that the most productive production factors is labor so that investment in this factor production is beneficial for industrial growth in East Java. On the other side, the physical capital has not been reached the optimum level but the elasticity of capital in production is low. Hypothetically, the inelasticity of physical capital is because macroeconomic aspects which is monetary policy and expected economic situation. Considering these two arguments, quality of labor should be more concerned in the context of regional economy of East Java because capital aspect cannot be interfered at regional level at least for large capital scale.Keywords: Capital, Labor, Growth, General Method of Moment (GMM), Instrumental Variable (IV)JEL: C50, C33, C36, M51, L29, L60, O25, D22
Kebijakan Fiskal dan Ekspansi Kredit Perbankan di Indonesia dengan Pendekatan Error Correction Model (ECM) Wicaksono, Sony; Afin, Rifai
Prosiding Seminar Nasional Manajemen, Ekonomi dan Akuntansi Vol. 1 No. 1 (2016): PROSIDING SEMINAR NASIONAL MANAJEMEN, EKONOMI DAN AKUNTANSI 2016
Publisher : Universitas Nusantara PGRI Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study is aimed to determine how the effect of the fiscal policy on the changes in credit in Indonesia in the period of 1974 until 2013 with the applying of dynamic method of error correction model that show the relationship between the fiscal policy instrument with bank credit in the long term and short term. The approach of this study is quantitative with secondary data that collected from the library visit to Indonesian banks and online search on the World Bank website. Variables used in this study are credit as dependent variable and the ratio of taxes and government spending as independent variables as well as fiscal policy instrument, besides that, this study uses control variables that are money supply and the exchange rate. The results show , the fiscal policy in Indonesia in two instruments namely the ratio of taxes and government spending has a different result in the long term and short term. In the long term, the ratio of taxes has significant negative effect as much as 5.096 percent, while the government spending has significant positive effect as much as 0.638 percent. In the short term, the ratio of taxes does not have significant effect, while the government spending has significant positive effect as much as 0.270 percent. This conclusion is based on the calculation of the estimated results of long term and short term
Co-Authors Wicaksono, Sony