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Analisis Dampak Indikator Makroekonomi terhadap Investasi Portofolio di ASEAN 4 Adhitya Wardhono; Ciplis Gema Qori'ah; M. Abd. Nasir; Ariz Aprilia
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 9 No 1 (2020): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v9i1.43

Investasi portofolio merupakan jenis investasi yang rentan terhadap guncangan baik yang bersumber dari dalam maupun luar negeri. Tujuan dari studi ini adalah untuk mengetahui pengaruh guncangan variabel inflasi, suku bunga dan nilai tukar riil efektif terhadap aliran investasi portofolio di empat negara ASEAN pada periode 2001Q1–2018Q4. Hasil analisis dengan menggunakan metode Structural Vector Autoregressive (SVAR) menunjukkan bahwa suku bunga merupakan determinasi utama investasi portofolio di Singapura dan Filipina. Sedangkan inflasi dan nilai tukar menjadi determinasi utama investasi portofolio di Indonesia dan Malaysia. Studi ini merekomendasikan bahwa kebijakan pengelolaan arus modal dalam bentuk investasi portofolio sebaiknya mempertimbangkan variabel makroekonomi tersebut, mengingat besarnya potensi risiko yang dapat ditimbulkan terhadap stabilitas perekonomian terutama dalam jangka pendek.

Studi Kesinambungan Fiskal Pada Variabel Makro Ekonomi Indonesia: Analisis VAR Adhitya Wardhono; Ciplis Gema Qori’ah; Christina Dwi Ayu Wulandari
Jurnal Ekonomi Kuantitatif Terapan 2015: Vol. 8, No. 2, Agustus 2015 (pp. 113-216)
Publisher : Universitas Udayana

This research was identify determine the fiscal structure formation and the impact of foreign debt on fiscal sustainabilityin Indonesia. The model is described by a variable fiscal sustainability of foreign debt and fiscal macro variables as independent variables. Empirically, this model using time series data in the form of quarterly data began in 2004.I - 2012.IV, the focus of this study using two methods of analysis: descriptive narrative qualitative analysis and causal analysis using VAR (Vector Auto Regressive). The results of this study demonstrated through two tests of hypotheses, which test the IR (Impulse Response) and VD (Variance Decomposition). IR estimation results indicate that there are reciprocal relationship among SBI, foreign debt and oil price. The VD test indicate that SBI, inflation and oil price are more dominant in influencing fiscal sustainability in Indonesia.

The border region of Nunukan Regency with the City of Tawau, Sabah state, Malaysia has great potential to be developed as a center of agricultural production and raw material supplier. The research aims to: (a) Investigating the structure, the actors and M Abd Nasir; Ciplis Gemah Qori'ah; Yulia Indrawati; Adhitya Wardhono; Satrio Wicaksono
UNEJ e-Proceeding International Conference on Agribusiness Marketing (ICAM) 2012, Faculty of Agriculture, University o
Publisher : UPT Penerbitan Universitas Jember

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Government policy on the application of export tax for crude palm oil and its derivatives is preferred to increase government revenue and protection for domestic industry. Potentially, the beneficiary of the application of export taxes is domestic consumer (downstream industry), government and Indonesia's export competitors. Benefit on crude palm oil downstream industries because of the application of the export tax would push the price of crude palm oil and its derivatives in the domestic market. State revenues will increase according with to the tariff, price and export volume. The application of export tax tends to reduce the volume of exports, so that foreign exporters benefit from a reduction in exports of crude palm oil and its derivatives by Indonesia. Meanwhile, the injured parties from the application of export taxes are crude palm oil producers, importers, service providers in the port, input suppliers oil palm estates and state revenue. Export tax would depress prices in domestic market so it results in a disincentive for producer crude palm oil and its derivatives. Based on the above problem, this paper aims to criticize the policy of export tax on crude palm oil industry that has a different impact for consumers, industry, importers, and governments. The second objective to describe by steps to achievement of the implementation of the export tax and the amount of export tax rates to consider benefits for all stakeholders of national oil palm, burden to be borne by stakeholders and the rule of law and its impact on Gross Domestic Product (GDP), the performance of oil palm agribusiness and farmers' income. Problems of implementation of the export tax, the important thing to note is the norm that can be used as a reference in determining the amount of crude palm oil export tax rate and its derivatives. For the determination of the amount of crude palm oil export tax rate should be considering (i) its only charges, not taxes, (ii) a high rate has the potential to destabilize crude palm oil international markets that could pose a negative impact on the crude palm oil domestic market (iii) adjusted by the need for program and activities of development of crude palm oil national industry.

LOGICAL CONSISTENCY AND TOBACCO ECONOMIC DEVELOPMENT IN GRESIK REGENCY Ciplis Gemah Qori'ah; Yulia Indrawati; Gigih Pratomo
UNEJ e-Proceeding International Conference on Agribusiness Marketing (ICAM) 2012, Faculty of Agriculture, University o
Publisher : UPT Penerbitan Universitas Jember

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Tobacco has a different potential in economic development efforts in an area. This justification is based on the tobacco plant is one that has economic value added [4]. Therefore we need a logical strategy in creating a positive impact on regional economic development. This study aims to formulate a strategy in economic development efforts of tobacco in Gresik Regency. This study uses primary and secondary data. The analyticalmethod used is descriptive analysis and Analytic Hierarchy Process (AHP). The results suggest that institutional and regulatory factors is a key strategy in the economic development of tobacco in Gresik Regency. The contribution of tobacco to the economy will provide a logical consistency in the development and cultivation of tobacco in the future.

Determination of Competition Conventional Bank in Banking Industry in Indonesia Ciplis Gema Qori’ah; Mochammad Ridwan G.; Adhitya Wardhono; Ika Nurjannah
Economics and Finance in Indonesia Volume 62, Number 1, April 2016
Publisher : Institute for Economic and Social Research

The aim of this study is to determine the level of concentration and competition behavior of conventional commercial banks in the national banking industry. This study focuses on descriptive analysis and quantitative analysis using panel data regression for 9 conventional commercial banks during 2003–2014. Results of eclectic analysis are supposed that behavior of banks is less competitive due to high levels of concentration in the banking industry. While the results of panel data regression show that the variables of bank interest expense, operating expense, other operating incomes and variable of loanable funds significantly affect the income of conventional banks.AbstrakTujuan dari penelitian ini adalah untuk mengetahui tingkat konsentrasi dan perilaku persaingan bank umum konvensional yang terdapat di industri perbankan nasional. Penelitian ini memfokuskan pada analisis deskriptif dan analisis kuantitatif dengan menggunakan regresi data panel dengan sampel 9 bank umum konvensional selama 2003–2014. Hasil analisis menunjukkan bahwa perilaku bank kurang kompetitif karena tingkat konsentrasi yang tinggi di industri perbankan. Sedangkan hasil menunjukkan regresi data panel bahwa variabel beban bunga bank, beban operasional, pendapatan operasional lainnya, dan dana pinjaman signifikan berpengaruh pada pendapatan bank konvensional. Kata kunci: Kompetisi Bank; Regresi Data Panel; Industri PerbankanJEL classifications: B21; C23; L80

TWO STEPS OF RICARDIAN EQUIVALENCE: AN EVIDENCE IN INDONESIA ADHITYA WARDHONO; AGUS FERDIANTO; M. ABD. NASIR; CIPLIS GEMA QORI'AH
Jurnal Akuntansi, Manajemen dan Ekonomi Vol 21 No 1 (2019)
Publisher : Faculty of Economics and Business, Jenderal Soedirman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jame.2019.21.1.1232

Ricardian Equivalence was analyzed through the influence of deficit fiscal policy on consumption, the fiscal deficit policy of Soeharto regime and reform had a difference, the difference lied in the policy as outline in the government budgets preparation. Soeharto regime applied budget concept of the T-account model, while the reform applied budget concept of I-account. The differences of concept budgetting affected the deficit fiscal policy, while the component of deficit fiscal policy consisted of budget deficits, government expenditure, government debt, and tax revenue. The purpose of this paper is to determine the effect of the differences in Soeharto regime and reform toward deficit fiscal policy component, as well as to determine the effect of deficit fiscal policy to domestic consumption, and determine the Ricardian Equivalence phenomenon and formation. Based on these objectives, an analysis tool used was Ordinary Least Squared (OLS) and Two Stage Least Squared (TSLS), with time series data from the years 1969-2013. The analysis showed that the difference reign did not significantly affect the components of deficits fiscal, and Ricardian Equivalence happened in Indonesia by the year 1969-1981 as Ricardian first period, and 1982-2013 as the second period of Ricardian.

Improving Tobacco Besuki Na-Oogst Competitiveness: Does Tobacco Still at a Crossroads? Adhitya Wardhono; Josi Ali Arifandi; Yulia Indrawati; M Abd. Nasir; Ciplis Gema Qori'ah
Journal of Management and Business Environment (JMBE) Vol 2, No 2: January 2021
Publisher : Soegijapranata Catholic University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24167/jmbe.v2i2.2909

Tobacco Besuki Na-Oogst (BesNO) is a fancy product and becomes a leading export-oriented commodity, especially as a raw material for making cigar. The embarrassment of Besuki Na-Oogst is a plant which has location specifics. Every tobacco-producing region has distinctive qualities. Tobacco Besuki Na-Oogst (BesNO) quality is measured using standards that are easily implemented by all tobacco Besuki Na-Oogst business actors. The research objective is to determine the competitiveness of tobacco Besuki Na-Oogst as an export quality product. The analytical method used is descriptive analysis and SWOT. The research took place in Jember Regency Indonesia. The results show that tobacco Besuki Na-Oogst's strategic potential is supported by supporting infrastructure capacity in testing tobacco quality, geographical potential and human resources in the face of competition and international policy. The strategy applied is to support aggressive growth policies through improving the quality of cultivation and capacity of standard infrastructure and the quality and quality of human resources in the face of international competitiveness.

Interaction between Monetary and Macroprudential Policy to Enhance Financial Stability: Evidence from Indonesia Yulia Indrawati; Adhitya Wardhono; Hadi Paramu; M. Abd. Nasir; Nyoman Gede Krishnabudi; Ciplis Gema Qoriah
Budapest International Research and Critics Institute-Journal (BIRCI-Journal) Vol 5, No 2 (2022): Budapest International Research and Critics Institute May
Publisher : Budapest International Research and Critics University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/birci.v5i2.4794

This study aimed to evaluate the interaction between monetary and macroprudential policy through the function of the central bank's objectives, namely the plain vanilla taylor rule, lean against the wind taylor rule, independent macroprudential policy rule and lean against the wind taylor rule with macroprudential policy. The parameter value used was based on the previous empirical study. The numerical optimizer csminwel of Chris Sims was used to solve the quadratic linear problems. The optimum coefficient calculation applied dynare optimal simple rule routine using the application of dynare 4.5.7 and matlab software. The result shows the macroprudential instruments, known as a buffer in monetary policy, we’re able to optimally minimize the loss function of the central bank. The central bank carried out both monetary and macroprudential policy in a comprehensive way to achieve two purposes as stated in the tinbergen principle. The interest rate policy is intended for reaching inflation and output stability, while the macroprudential policy is for credit growth. Macroeconomic stability with the addition of macroprudential policy is significant. This advantage is intended to cover greater volatility both in the policy rate and the inflation rate.

TWO STEPS OF RICARDIAN EQUIVALENCE: AN EVIDENCE IN INDONESIA ADHITYA WARDHONO; AGUS FERDIANTO; M. ABD. NASIR; CIPLIS GEMA QORI'AH
Jurnal Akuntansi, Manajemen dan Ekonomi Vol 21 No 1 (2019): Januari - Maret 2019
Publisher : Faculty of Economics and Business, Jenderal Soedirman University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32424/1.jame.2019.21.1.1232

Ricardian Equivalence was analyzed through the influence of deficit fiscal policy on consumption, the fiscal deficit policy of Soeharto regime and reform had a difference, the difference lied in the policy as outline in the government budgets preparation. Soeharto regime applied budget concept of the T-account model, while the reform applied budget concept of I-account. The differences of concept budgetting affected the deficit fiscal policy, while the component of deficit fiscal policy consisted of budget deficits, government expenditure, government debt, and tax revenue. The purpose of this paper is to determine the effect of the differences in Soeharto regime and reform toward deficit fiscal policy component, as well as to determine the effect of deficit fiscal policy to domestic consumption, and determine the Ricardian Equivalence phenomenon and formation. Based on these objectives, an analysis tool used was Ordinary Least Squared (OLS) and Two Stage Least Squared (TSLS), with time series data from the years 1969-2013. The analysis showed that the difference reign did not significantly affect the components of deficits fiscal, and Ricardian Equivalence happened in Indonesia by the year 1969-1981 as Ricardian first period, and 1982-2013 as the second period of Ricardian.

Determination of Competition Conventional Bank in Banking Industry in Indonesia Qori'ah, Ciplis Gema
Economics and Finance in Indonesia Vol. 62, No. 1
Publisher : UI Scholars Hub

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

The aim of this study is to determine the level of concentration and competition behavior of conventional commercial banks in the national banking industry. This study focuses on descriptive analysis and quantitative analysis using panel data regression for 9 conventional commercial banks during 2003-2014. Results of eclectic analysis are supposed that behavior of banks is less competitive due to high levels of concentration in the banking industry. While the results of panel data regression show that the variables of bank interest expense, operating expense, other operating incomes and variable of loanable funds significantly affect the income of conventional banks.

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