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THE RISE OF CHINA AND ITS IMPLICATION ON INDONESIA-UNITED STATES TRADE Putriani, Diyah; Azzani, Meikha
Journal of Indonesian Economy and Business Vol 26, No 2 (2011): May
Publisher : Journal of Indonesian Economy and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (82.808 KB)

The purpose of this study is to analyze the impact of Chinese renminbi exchange rateÂ againts the United States (US) dollar, on the bilateral export of Indonesia to the US.Johansen cointegration test and Ordinary Least Square (OLS) regression are employed toÂ examine one impact. This research is limited only in the long-run aspect. The Johansentest shows that there are long-run relationships amongs variables involved such as GDP,Â Real Exchange Rate (RER), RER Volatility, and dummy variables. Empirical test resultshows that there are positive significant impacts of the Chinese renminbi on theÂ Indonesiaâs exports to the US, implying that the relationship between Chinese exports andIndonesia export are complementary in the US market.Keywords: Indonesia, China, the United States, renminbi, cointegration, OLSÂ

AN ESTIMATION OF CHINESE RENMINBI EXCHANGE RATE IMPACT ON THE REAL EXPORTS OF INDONESIA TO THE US: IS THERE A J-CURVE? Putriani, Diyah
Journal of Indonesian Applied Economics Vol 6, No 2 (2016)
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

This paper seeks whether a J-Curve exists on the impact of changes in the Chinese Renminbi (RMB) exchange rates on bilateral exports of Indonesia to the United States (US), particularly in the long run. The Johansen cointegration procedures and Vector Error Correction Model (VECM) regression are applied. The cointegration test shows that there are long-term relationships amongst real GDP of US, Indonesian Rupiah (IDR), real exchange rates and volatility, and Chinese RMB real exchange rates. The result shows that the RMB exchange rate has a negative significant impact (substitution relationship) on Indonesian export to the US. The result also suggests a dissatisfaction of the Marshall-Lerner condition indicating the J-curve phenomenon does not exist.

A Critical Review on Interest Rate as a Tool of Monetary Policy diyah putriani; pras towo
Tazkia Islamic Finance and Business Review Vol. 9 No. 2 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v9i2.93

Objectives: This research is aimed to critically review the relationship between interest rate and economic downturnMethods: Meta-analysis.Results: The existing monetary policy will always create higher inflation rate overtime triggering economic crisis in the long run. This is not merely about how the monetary authority strictly manages the supply and demand for money in the economy.Conclusion:This paper concludes that interest rate give negative contribution to the economic growth.

EXPLORATION OF AGENT-BASED SIMULATION: THE MULTIPLIER EFFECT OF ZAKAH ON ECONOMIC GROWTH Diyah Putriani; Gairuzazmi Mat Ghani; Mira Kartiwi
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1110

Zakat plays an undeniably significant role in social life. The enforcement of zakah in early Islamic history is evidence that it is a powerful tool for fostering economic growth. The economy under the reign of Caliphate Umar Ibn Abdul Azis even achieved a surplus, with no one having the right to receive zakah. Recent studies have attempted to link the role of zakah and economic growth qualitatively by arguing that zakah can contribute to economic development. However, the extent to which it has a multiplier effect on economic growth has not been examined. Considering this research gap, this study examines such an effect on economic growth, as represented by Gross Domestic Product (GDP). To capture the full impact of zakah on aggregate production, two scenarios are conducted, namely the economy with and without zakah. The simulation results show that zakah can promote aggregate production. On the other hand, the economy experiences lower aggregate production when there is no zakah. An agent-based computational model (ABM) simulation is employed to run the simulation. The application of ABM in this study is intended to introduce the use of computational study as an alternative method of developing research in Islamic economics.

MARK-UP VS. INTEREST-BASED FINANCING ON GDP: AN APPLICATION OF AGENT-BASED COMPUTATIONAL MODEL Diyah Putriani; Gairuzazmi Mat Ghani; Mira Kartiwi
Journal of Islamic Monetary Economics and Finance Vol 7 No 1 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i1.1345

This study aims to introduce the application of artificial intelligence in the area of Islamic finance by examining the dynamic changes of gross domestic product (GDP) under fully markup-based financing. The application of artificial intelligence using agent-based computational model (ABM) is employed to conduct the simulation. The simulation result shows that the movement of GDP under markup-based financing which represents Islamic financial system has better performance compared to interest-based lending. In this regard, profit shared to depositors has positive impact on GDP which also proofs that Islamic banking system may promote sustainable economic growth and may create wealth for the whole society. This study proofs that Islamic bank essentially more stable than conventional bank and hence may fights against crisis. This study is potentially the initial work to examine the dynamic changes of economic growth under fully Islamic financial system by applying artificial intelligence concept as its methodology. Thus, this study is expected to contribute to the development of Islamic economics and finance research.

Income Inequality and Regional Index of Financial Inclusion For Islamic Bank in Indonesia Prastowo Prastowo; Diyah Putriani
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 11, No 1 (2019)
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Abstract. This research is proposed to measure financial inclusion index in 2 dimensions (2D-FII) in Indonesia Islamic banks. This research contributes to the measurement 2D-FII at the regional level in Indonesia. The analysis of cross- section data from 33 provinces in Indonesia between 2014 and 2015 shows that the value of FII in Islamic banking in Indonesia is still low. Previous works show one of the determinants on increasing inequality in any country is limited access to the financial sector, especially for low-income household (Akimov, Wijeweera, and Dollery 2006; Kenourgios and Samitas 2007; Levine 2003; D. Park and Shin 2015). Thus, the low level of FII in Indonesia perhaps is caused by inequality of income. Therefore, this research recommends policymaker to have more concern on poverty alleviation program and open new Islamic banks branches at the regional level.Keywords: 2 Dimension – Financial Inclusion Index (2D-FII), Income Inequality, Poverty Alleviation, Islamic Banks Abstrak. Penelitian ini bertujuan untuk mengukur indeks inklusi keuangan pada 2 dimensi (2D-FII) pada bank-bank syariah di Indonesia. Secara umum, penelitian ini berkontribusi pada pengukuran 2D-FII di tingkat regional Indonesia. Analisis terhadap data dari 33 provinsi di Indonesia antara tahun 2014-2015 menunjukkan bahwa nilai FII pada perbankan syariah di Indonesia masih rendah. Kajian-kajian terdahulu menunjukkan bahwa salah satu penentu peningkatan ketimpangan di berbagai negara adalah akibat akses terhadap sector keuangan yang masih terbatas, khususnya pada rumah tangga dengan pendapatan rendah (Akimov, Wijeweera, and Dollery 2006; Kenourgios and Samitas 2007; Levine 2003; D. Park and Shin 2015). Dengan begitu, rendahnya tingkat FII di Indonesia bisa jadi disebabkan oleh ketimpangan pendapatan. Oleh karena itu, penelitian merekomendasikan pengambil kebijakan untuk lebih fokus pada program pengentasan kemiskinan dan pembukaan cabang-cabang bank syariah di tingkat regional.Kata kunci: 2 Dimension – Financial Inclusion Index (2D-FII), Ketimpangan Pendapatan, Pengentasan Kemiskinan, Bank Syariah

THE RISE OF CHINA AND ITS IMPLICATION ON INDONESIA-UNITED STATES TRADE Diyah Putriani; Meikha Azzani
Journal of Indonesian Economy and Business (JIEB) Vol 26, No 2 (2011): May
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

The purpose of this study is to analyze the impact of Chinese renminbi exchange rate againts the United States (US) dollar, on the bilateral export of Indonesia to the US.Johansen cointegration test and Ordinary Least Square (OLS) regression are employed to examine one impact. This research is limited only in the long-run aspect. The Johansentest shows that there are long-run relationships amongs variables involved such as GDP, Real Exchange Rate (RER), RER Volatility, and dummy variables. Empirical test resultshows that there are positive significant impacts of the Chinese renminbi on the Indonesia’s exports to the US, implying that the relationship between Chinese exports andIndonesia export are complementary in the US market.Keywords: Indonesia, China, the United States, renminbi, cointegration, OLS

Spatial analysis on the impact of Islamic regional financial depth on income inequality in Indonesia Prastowo Prastowo; Diyah Putriani
Jurnal Ekonomi & Keuangan Islam Volume 8 No. 2, July 2022
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol8.iss2.art1

Purpose – This paper aims to analyze the effect of financial depth in Islamic banks on income inequality in 33 provinces in Indonesia. Methodology – We use data for the period 2010-2018 from 33 provinces in Indonesia which are estimated using panel data to develop spatial panel data model. The dependent variable is income inequality, while the variable independent are Islamic regional financial depth, economic growth, human capital, and government expenditure.Findings – This research finds that Islamic Regional Financial Depth (FDS) has a positive and statistically significant direct effect on income inequality represented by Gini index. It means that an increase in the FDS will also cause an increase in the level of Gini index. In addition, the indirect effect of FDS on income inequality is also positive and significant, indicating that the ratio of financing to GRDP has a spillover effect on connected regions. Implications – This research recommends policymaker to expand the business of Islamic banking by financing the small medium enterprises and concern on the promotion of Islamic banking in the regional level. Originality – This study is potentially to contribute and be the early work which employs spatial analysis in the area of Islamic economics and finance. In addition, this study examines the impact of financial depth in Islamic bank on income inequality which is rarely discussed. Hence, this study presents relatively new information for policy makers, practitioners and researchers.

Income Inequality and Regional Index of Financial Inclusion For Islamic Bank in Indonesia Prastowo, Prastowo; Putriani, Diyah
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 11 No. 1 (2019)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v11i1.8380

This research is proposed to measure financial inclusion index in 2 dimensions (2D-FII) in Indonesia Islamic banks. This research contributes to the measurement 2D-FII at the regional level in Indonesia. The analysis of crosssection data from 33 provinces in Indonesia between 2014 and 2015 shows that the value of FII in Islamic banking in Indonesia is still low. Previous works show one of the determinants on increasing inequality in any country is limited access to the financial sector, especially for low-income household (Akimov, Wijeweera, and Dollery 2006; Kenourgios and Samitas 2007; Levine 2003; D. Park and Shin 2015). Thus, the low level of FII in Indonesia perhaps is caused by inequality of income. Therefore, this research recommends policymaker to have more concern on poverty alleviation program and open new Islamic banks branches at the regional level. Penelitian ini bertujuan untuk mengukur indeks inklusi keuangan pada 2 dimensi (2D-FII) pada bank-bank syariah di Indonesia. Secara umum, penelitian ini berkontribusi pada pengukuran 2D-FII di tingkat regional Indonesia. Analisis terhadap data dari 33 provinsi di Indonesia antara tahun 2014-2015 menunjukkan bahwa nilai FII pada perbankan syariah di Indonesia masih rendah. Kajian-kajian terdahulu menunjukkan bahwa salah satu penentu peningkatan ketimpangan di berbagai negara adalah akibat akses terhadap sector keuangan yang masih terbatas, khususnya pada rumah tangga dengan pendapatan rendah (Akimov, Wijeweera, and Dollery 2006; Kenourgios and Samitas 2007; Levine 2003; D. Park and Shin 2015). Dengan begitu, rendahnya tingkat FII di Indonesia bisa jadi disebabkan oleh ketimpangan pendapatan. Oleh karena itu, penelitian merekomendasikan pengambil kebijakan untuk lebih fokus pada program pengentasan kemiskinan dan pembukaan cabang-cabang bank syariah di tingkat regional.

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