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All Journal ETIKONOMI Economic Journal of Emerging Markets JURNAL DINAMIKA EKONOMI PEMBANGUNAN JURNAL BISNIS STRATEGI Diponegoro Journal of Economics JEJAK Journal of Economics, Business, & Accountancy Ventura Global Review of Islamic Economics and Business Jurnal Ilmu Sosial dan Ilmu Politik Jurnal Ekonomi dan Bisnis Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi Indicators : Journal of Economic and Business Beujroh : Jurnal Pemberdayaan dan Pengabdian pada Masyarakat Economic Development Analysis Journal Efficient: Indonesian Journal of Development Economics Economic and Business Horizon
Akhmad Syakir Kurnia
Department Of Economics, Faculty Of Economics And Business, Diponegoro University, Semarang, Indonesia
Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Dinamika PMA dan PMDN di Indonesia Sebagai Dampak Dari Upah Minimum, Inflasi dan PDRB Tahun 2004-2012: Pendekatan Dynamic Panel Data Model Lea Widowati Sugiharto; Akhmad Syakir Kurnia
Jurnal Ekonomi dan Bisnis Vol 17 No 3 (2014)
Publisher : Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (921.917 KB) | DOI: 10.24914/jeb.v17i3.305

Abstract

This paper aims at investigating the behavior of foreign direct investment (FDI) and domestic direct investment (DDI) in Indonesia, which is expected to be explained by several explanatory variables including the setting of regional minimum wage, inflation, as well as regional domestic product. More specifically, the investigation is focused on the effect of annual increase in the minimum regional wage, provided that it is a sensitive issue for investors. Using 33 provincial level data in a period from 2004 to 2012, this paper uses a dynamic panel data which allows us to see the behavior of direct investment in the short run as well as in the long run. The result shows that an increase in the regional minimum wage setting reduces both DDI and FDI in the short run. However, in the long run, an increase in the regional minimum wage is likely to increase both DDI and FDI. This is likely indicating that in the long run an increase in wage is expected to be accompanied by higher productivity, eventhough in the short run higher wage increases cost of production which will undermine investment.
Diverse Outreach of Macroprudential Policy Effect on Household and Non-Financial Corporate Loan: An Indication of Macroprudential Policy Leak? Khoirul Sukma; Akhmad Syakir Kurnia
ETIKONOMI Vol 21, No 2 (2022)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v21i2.24304

Abstract

Despite increasing awareness of the importance of countercyclical policies to overcome financial system instability, the potential leak of such policies comes to attention due to economic agents' risk-taking behavior. This paper aims to investigate the potential leaks of the policy. Using the Estimator General Method of Moments-difference (GMM-diff), we found evidence that macroprudential policies are less functional in controlling non-financial firms' credit growth than household credit growth. The result amplifies hesitation about the effectiveness of macroprudential policy caused by potential leaks coming from non-financial firms' risk-taking behavior. We also found that macroprudential policy in developing countries is less effective than in developed countries. Hence, the financial stability goal cannot rely solely on macroprudential policy. Instead, it needs support from other mutual policies, such as the capital control policy and transparent regulatory boundaries, to prevent partial risk shift from regulated financial institutions to unregulated, prevalent in the less developed financial system.JEL Classification: E42, E44, E52, E58 
Exchange Rate Pass-Through and Economic Openness Under Inflation Targeting Framework in Asian ITF Economies Akhmad Syakir Kurnia; FX Sugiyanto
ETIKONOMI Vol 22, No 2 (2023)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v22i2.30967

Abstract

This study investigates overall ERPT in four ITF-adopting Asian Economies, emphasizing the trilemma between ERPT, economic openness, and the inflation target. Based on quarterly data observations from 1999 to the fourth quarter of 2022 with an application of combined distributed lag and adaptive expectation models that allows a fair assessment concerning ERPT throughout the time dimension, we reveal evidence that exchange rate changes will be transmitted immediately to increasing domestic prices in the short run. Similarly, increased interest policy, GDP, and trade openness will push consumer prices up in the short term through adaptive expectation mechanisms. However, the pass-through effect tends to decrease in the long run due to a credible ITF implementation. Meanwhile, the pass-through effect concerning trade openness varies across countries in the short run, while openness tends to increase pressures on consumer prices in the long run. This condition allows further investigation to examine the pass-through effect and its transmission to various prices, including prices, imports, export prices, economic structure, and the effect of fear of floating in the ITF.JEL Classification: E31, E52, E58, F31, F41How to Cite:Kurnia, A. S., & Sugiyanto, FX. (2023). Exchange Rate Pass-Through and Economic Openness Under Inflation Targeting Framework in Asian ITF Economies. Etikonomi, 22(2), 357 – 368. https://doi.org/10.15408/etk.v22i2.30967.
Unleashing the Central Bank Digital Currency Revolution and its Impact on Exchange Rate: A Monetary Approach Synthesis Akhmad Syakir Kurnia; Muhammad Adnan Assidiq
ETIKONOMI Vol 23, No 2 (2024)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v23i2.37788

Abstract

Research Originality: The introduction of CBDC by the Central Bank of Indonesia has increased the intensity of news about CBDC. Besides aiming to introduce the future direction of the payment system, the news potentially causes uncertainty and speculation in the market, which may impact the rupiah exchange rate.Research Objectives: This research analyzes the impact of CBDC news on the rupiah exchange rate, synthesizing a sticky price version of the monetary approach to the exchange rate. Research Methods: A CBDC News Index is constructed based on a compilation of news data from major online media between 2018 and 2023. The structural VAR (SVAR) method is thenemployed to investigate the impact of CBDC news on the exchange rate dynamic.Empirical Results: The results suggest a trend consistent with the hypothesis, indicating that news about CBDC may lead to pressure on the domestic currency, resulting in depreciation. However, the impact is not statistically convincing as the coefficient is not statistically different from zero. The monetary approach synthesis findings suggest that raising the policy rate is likely efficacious in counteracting the pressure of domestic currency depreciation. Meanwhile, other monetary approach variables exhibit anomalies related to exchange rate dynamics.Implications: As the central bank plans to implement a Central Bank Digital Currency (CBDC), it must carefully control the dissemination of information about what the CBDC will entail and how it will be rolled out. CBDC blueprint and official disclosure help reduce uncertainty and speculation about implementing CBDC.JEL Classification: D80, E58, F31How to Cite:Kurnia, A. S. & Assidiq, M. A. (2024). Unleashing the Central Bank Digital Currency Revolution and Its Impact on Exchange Rate: A Monetary Approach Synthesis. Etikonomi, 23(2), 271-286. https://doi.org/10.15408/etk.v23i2.37788
ANALISIS PREFERENSI MASYARAKAT TERHADAP BUS RAPID TRANSIT (BRT) TRANS SEMARANG Tutus Kenanthus Avica Putra; Akhmad Syakir Kurnia
Diponegoro Journal of Economics Vol 3, No 1 (2014)
Publisher : Universitas Diponegoro

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (757.804 KB) | DOI: 10.14710/djoe.5321

Abstract

ABSTRACTLike other major cities, Semarang as the capitol city of the Central Java Province has problems in transportation. The problems emerge as a consequence of an increase in people mobility. At the same time, the quality of public transportation in Semarang has been a crucial issue as its development does not progress equally with the increase in people mobility.Using ordinary least square and binary logistic regression, this paper aims to analyse the preferences of public transportation users to use the Trans Semarang Bus Rapid Transit (BRT). Several variables namely the level of income, the private motorbike or car owning, and the BRT performance indicators are expected to explain the preferences of BRT. The probability of the BRT users to switch from BRT to other means of transportation when price is increased is expected to be explained using binary logistic regression.             The result shows that the major users of the BRT are low level income households. Within this circumstance, the OLS estimation shows that price is sensitive to the BRT user preferences. An increase in the BRT price will result in higher probability of the BRT users to switch from BRT to other means of transportation. The level of income and the BRT performance have positive impact on the BRT user preferences. Private motorbike ownership has a negative effect against the BRT user preferences which means that motorbike is a close substitution to the BRT. However as the major users of BRT are low income households, we can not show any evidences that car ownership does matter for the BRT users.
Exchange Rate Pass-Through in ITF Adopting Countries: Indonesia, Thailand, Philippines Comparative Study Fauziah, Syifa; Akhmad Syakir Kurnia
Efficient: Indonesian Journal of Development Economics Vol. 7 No. 3 (2024)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v7i3.13304

Abstract

This paper investigates how the adoption of inflation targeting influenced Exchange Rate Pass-Through (ERPT) in the three developing countries of Southeast Asia – Indonesia, Thailand, and the Philippines. Moreover, this paper aims to analyze the macroeconomic determinants of the degree of pass-through to a consumer price index. For this purpose, we employ an Error Correction Model (ECM) regression analysis. The results found evidence that adopting an inflation-targeting framework does not necessarily reduce the degree of ERPT. However, economic openness emerges as a key limiting factor as higher trade share and lower trade tariffs lessen the degree of ERPT in those countries. It implies that trade liberalization, economic diversification, and enhancing competitiveness to reduce reliance on imports can further mitigate ERPT’s impact on inflation.
Does Local Government Expenditure Lead to Human Development in Indonesia? Imantria, Benny; Kurnia, Akhmad Syakir
Economics Development Analysis Journal Vol 13 No 2 (2024): Economics Development Analysis Journal
Publisher : Economics Development Department, Universitas Negeri Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i2.78979

Abstract

Human development has become a national development priority in the vision of Indonesia Emas 2045, but the HDI score shows district-level inequality in increasing local government expenditure. This study aims to identify the effect of local government expenditure realization on HDI. The data used is 508 districts of Indonesia in 2017-2022, and it was analyzed using a panel data regression fixed-effect model. The novelty of this study lies in the local government at the district level and local government expenditure according to function and type classification. The study shows that education expenditure, health expenditure, economic expenditure, employee expenditure, and goods and services expenditure have a significant positive effect on HDI, but capital expenditure has a significant negative effect on HDI. Local governments are expected to understand the dominant role of health expenditure in increasing HDI, increase the budget allocation for economic and capital expenditure, reduce the budget allocation for employee and goods and services, and measure the performance of local government expenditure.
Pelatihan Santripreneur Melalui Pengenalan Digital Marketing Untuk Santri Pondok Pesantren Darul Ulum Tragung Batang Fuadi, Ariza; Kurnia, Akhmad Syakir; Firmansyah; Sugiyanto, FX; Zusak, M Bastomi Fahri
Beujroh : Jurnal Pemberdayaan dan Pengabdian pada Masyarakat Vol. 2 No. 3 (2024): Beujroh : Jurnal Pemberdayaan dan Pengabdian pada Masyarakat
Publisher : Yayasan Sagita Akademia Maju

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61579/beujroh.v2i3.224

Abstract

This Community Service Program aims to empower students of the Darul Ulum Tragung Islamic Boarding School, Batang, through digital marketing training to develop their ultra-micro businesses. This training was conducted in three stages: introduction to digital marketing, case studies from other Islamic boarding schools, and creation and management of a marketplace. The results of the training showed an increase in students' understanding of digital marketing strategies and their ability to manage a marketplace. Several obstacles such as limited internet access and devices, as well as limited time in the Islamic boarding school environment, were successfully overcome with an adaptive approach. This program succeeded in providing strong digital-based entrepreneurial provisions for students while strengthening partnerships between Islamic boarding schools and universities.
The Role of Financial Inclusion in Poverty Reduction: A Production Theory Approach Astuti, Ismadiyanti Purwaning; Sugiyanto, Franciscus Xaverius; Kurnia, Akhmad Syakir
Economic and Business Horizon Vol. 1 No. 1 (2022): January
Publisher : LifeSciFi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54518/ebh.1.1.2022.78

Abstract

This study attempts to analyze the role of financial inclusion in reducing poverty by using a production theory approach. This study used the production function as a function or equation that shows the relationship between the use of input combinations to produce the desired level of output in order to analyze the role of financial inclusion in reducing poverty. The results show that access to financial service products, especially loans, is used as capital input in community production activities. The community uses loans obtained from formal and informal financial institutions to increase their productivity through increased capital. Increased capital will increase output, so income will also increase.
Local indicators of spatial association (LISA) of Indonesian workers Caroline, Caroline; Sugiyanto, FX; Kurnia, Akhmad Syakir; Irwandi, Soni Agus
Journal of Economics, Business, and Accountancy Ventura Vol. 22 No. 2 (2019): August - November 2019
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav.v22i2.1685

Abstract

The migration of Indonesian workers abroad and that of foreign workers into Indonesia made problems for the economic growth of Indonesia and ASEAN. This study attempts to analyze the patterns of spatial interaction of labor that occur in Indonesia. It used the Euclidean distance, spatial weight matrix approach to calculate the Local Indicators of Spatial Association (LISA). This study took a sample of workers in ASEAN member countries with a focus on analysis on Indonesian workers during 2004-2018. Analysis was performed using spatial panel data. The results showed that there was a change in the pattern of spatial interaction of Indonesian workers, which in 2004 had a lot of spatial interactions with workers from countries with a large workforce. However, in 2018, they interacted spatially with workers from countries with few workers. Besides, the majority of Indonesian migrants work as low-ranking workers in ASEAN countries, while the majority of foreign workers from ASEAN countries work in managerial and professional levels. This implies that the Indonesian government needs to provide technical and managerial skills, soft skills, and English for migrant workers before working abroad so that they are better able to compete with foreign workers and subsequently receive better salaries.
Co-Authors AA Sudharmawan, AA Achmad Noerkhaerin Putra Almira Shabrina Ariza Fuadi Astuti, Ismadiyanti Purwaning Aulia, Sarah Caroline Caroline Caroline Caroline Etty Puji Lestari Evi Yulia Purwanti Firmansyah Firmansyah Firmansyah FX Sugiyanto hapsari, anggraeni tri Imantria, Benny Khoirul Sukma Lea Widowati Sugiharto Muh. Rudi Nugroho, Muh. Rudi Muhammad Adnan Assidiq Muhammad Taufik Radhianshah Nurul Qolbi Radhianshah, Muhammad Taufik Sandy J. Maulana Shanty Oktavilia Soni Agus Irwandi Sugiyanto, Franciscus Xaverius Syahid Izzulhaq Syifa Fauziah Tutus Kenanthus Avica Putra Zusak, M Bastomi Fahri