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The Effect of Fiscal Decentralization on Economic Convergence amongst Regions in Java Island (Spatial Econometric Approach) Anggraeni, Rima Melati; Khusaini, Mohamad; Prasetyia, Ferry
Sanskara Akuntansi dan Keuangan Vol. 2 No. 02 (2024): Sanskara Akuntansi dan Keuangan (SAK)
Publisher : Eastasouth Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58812/sak.v2i02.291

Abstract

Convergence mechanism is needed in order to reduce regional inequality. This study aimed to examine the existence of economic convergence and analyze the effect of fiscal decentralization on economic convergence with spatial econometric approach. Local own-source revenue, balance funds, personnel expenditure and capital expenditure as proxies for fiscal decentralization indicator. Using dynamic convergence analysis, the existence of beta absolute and conditional convergence are confirmed in this study. From the estimation result, local own-source revenue, balance funds, personnel expenditure have significant role on per capita income growth, while capital expenditure has not been effective in supporting growth. If fiscal decentralization indicators are added and spatial aspects are considered in the model, it will cause an increase in the convergence rate. Improving the quality of spending is the main key to accelerating convergence.
Determinan Inflasi Indonesia: Analisis Jangka Panjang dan Pendek Pratiwi, Ardianing; Prasetyia, Ferry
Jurnal Ilmiah Mahasiswa FEB Vol. 1 No. 1
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Pergarakan inflasi di Indonesia dikenal memiliki fluktuasi yang cukup tinggi dan bersifat persisten. Pemahaman mengenai karakteristik dan sumber guncangan yang dapat memicu inflasi dapat digunakan sebagai landasan dalam merumuskan suatu kebijakan moneter yang efektif dan konsisten pengendalian stabilitas inflasi, sebagai tujuan akhirnya. Penelitian ini bertujuan untuk menganalisis determinan inflasi di Indonesia baik dalam jangka panjang maupun jangka pendek, dengan menggunakan metode Vector Error Correction Model (VECM). Data dalam bentuk  time series selama periode 2002-2011 dan diperoleh dari publikasi Bank Indonesia dan Bank Dunia. Hasil penelitian ini menunjukkan bahwa menurut estimasi VECM, dalam jangka panjang inflasi di Indonesia dipengaruhi secara signifikan oleh keempat variabel independen, yaitu suku bunga BI  rate, jumlah uang beredar, nilai tukar dan konsumsi rumah tangga. Semua variabel memiliki pengaruh negatif, kecuali hubungan positif yang ditunjukkan oleh variabel nilai tukar.  Dalam jangka pendek, kenaikan BI  rate dan depresiasi nilai tukar memiliki pengaruh signifikan dan positif terhadap laju inflasi. Berdasarkan hasil IRF, inflasi merespon secara cepat perubahan keempat variabel, satu periode setelah  shock muncul.  Variance decomposition menunjukkan bahwa, secara berurutan inflasi dipengaruhi oleh besarnya kontribusi perubahan suku bunga, nilai  tukar, jumlah uang beredar dan konsumsi rumah tangga. Kata kunci: Tingkat inflasi, suku bunga, jumlah uang beredar, nilai tukar, konsumsi rumah tangga.
Analisis X-Efisiensi Pada Bank Komersial Rahman, Fariz; Prasetyia, Ferry
Jurnal Ilmiah Mahasiswa FEB Vol. 1 No. 2
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

Penelitian ini menggunakan pendekatan non-paramterik menggunakan Data Envelopment Analysis (DEA.)  Analisis DEA dilakukan  dengan software Banxia Frontier Analysis untuk menganalisis x-efisiensi pada Bank Komersial di Indonesia dalam periode 2008-2012. Sampel bank yang digunakan adalah Bank Internasional Indonesia, Bank BCA, Bank Danamon, Bank PAN, Bank Permata, Bank CIMB. Test didapat kesimpulan bahwa hanya terdapat satu bank yang berhasil x-efisien selama rentang tahun penelitian. Keywords: Efisiensi Bank, DEA, Banxia Frontier Analysis, Indonesia
The Effect of Village Fund on Inequality and Inclusive Growth in Indonesia: A District Level Case Study Putra, Wahyu Pratama; Prasetyia, Ferry
Journal of Accounting Research, Organization and Economics Vol 7, No 1 (2024): JAROE Vol. 7 No. 1 April 2024
Publisher : Universitas Syiah Kuala

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24815/jaroe.v7i1.35481

Abstract

Objective This study tries to find the relationship between Village Fund expenditures and the inequality and growth inclusiveness using data from 434 districts for the time span of seven years from 2015 to 2021.Design/Methodology This study uses quantitative research. The research data comprised the data of Village Fund, Gini Ratio, and Inclusive Growth Index from the Ministry of Finance, Central Bureau of Statistics, and the Ministry of National Development Planning. To investigate the relationship between variables, a dynamic panel data with Generalized Method of Moment (GMM) approach is applied.Results This study revealed the relationship between Village Fund and Inequality and Inclusive Growth. We found that there is no strong relationship between the Village Fund, the first lag of the Village Fund, the second lag of Village Fund and Inequality among specifications. Similar relationships are also shown by the Village Fund, the first lag of Village Fund, the second lag of the Village Fund, and the Inclusive Growth among specifications. In other words, the implementation of Village Fund could not eradicate the inequality problem and could not support inclusion of economic growth in the village level.Research Limitations/Implications The result of this study potentially has a major implication in terms of program delivery effectiveness and the factors that influence the program effectiveness. Furthermore, in this particular research, the major problems with village fund allocation are the equity issue of the allocation scheme and the clarity of the village service responsibilities.Novelty/Originality This study uses a different approach to the panel data, which is a dynamic panel data with GMM approach. This study also uses a more specific scope of the data which is a district (kabupaten/kota) level in Indonesia.
Analysis of the Relationship Between Economic Growth, Inflation and Unemployment in Indonesia KURNIAWAN, Muhammad Lukman; PUDJIHARDJO, M.; PRASETYIA, Ferry
International Journal of Environmental, Sustainability, and Social Science Vol. 4 No. 6 (2023): International Journal of Environmental, Sustainability, and Social Science (Nov
Publisher : PT Keberlanjutan Strategis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38142/ijesss.v4i6.935

Abstract

The aim of developing a country is for the welfare of society. the policy makers are currently focused on the level of economic growth, inflation and unemployment. According to theory, these variables are closely related. The porpuse of the study was to analyze the relationship between economic growth, inflation and unemployment in Indonesia. Method used Vector Error Correction Model (VECM) analysis and Granger Causality Test. The results of this research show that in the long term, inflation has a significant positive relationship with economic growth, and unemployment has a negative and insignificant relationship. In the short term, inflation has no relationship to economic growth, and unemployment has a significant relationship. The results of the causality test, economic growth, inflation and unemployment do not have interrelationship.
Pengeluaran Sektor Publik, Pertumbuhan Ekonomi dan Kemiskinan di Indonesia Prasetyia, Ferry; Wulandari, Farah; Hutama, Ri Setia
Jurnal Ekonomi dan Pembangunan Indonesia
Publisher : UI Scholars Hub

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Abstract

The aim of this paper was to determine the effect of public sector expenditure to economic growth and poverty in all provinces in Indonesia during period 2006 to 2008. Using Full Information Maximum Likelihood (FIML) approach, the result showed that public sector expenditure on education and health sector had significant effect in boosting economic growth. Inaddition, the output produced by the education and health sector, both of the output had significant effect on economic growth. While, public sector expenditure on infrastructure had insignificant effect. Furthermore, this study showed that public sector expenditure on education and health also had significant effect in reducing the number of poor through the outcome such as form of school enrollment, literacy, infant mortality and life expectancy. On the other hand, the effect of economic growth to reduce the number of poor was not significant.
Inclusiveness of economic development in the multidimensional perspective in provinces in Indonesia Susilowati, Dwi; Suman, Agus; Susilo, Susilo; Prasetyia, Ferry
Jurnal Ekonomi & Studi Pembangunan Vol. 26 No. 2: October 2025
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v26i2.27485

Abstract

Achieving genuinely equitable and sustainable national progress depends on understanding and effectively measuring inclusive economic development, a complex and often elusive goal. Despite Indonesia's sustained economic growth over the past decade, questions persist about the extent to which this progress has translated into inclusive outcomes across regions and dimensions of well-being. This study addresses the empirical gap in comprehensive measurement by developing and applying a rigorous quantitative framework to estimate the Inclusive Economic Development Index across 34 Indonesian provinces from 2011 to 2023. Using national data from Statistics Indonesia (BPS) and supplementary records from other government bodies, we construct province-level inclusive development scores that encompass multiple dimensions of inclusive economic development, including economy, social factors, political aspects, ICT, governance, and the environment. The findings reveal significant variation in inclusive development across provinces, with West Sumatra, West Java, and Bali leading in the 4-dimensional model; West Sumatra, Maluku, and Aceh in the 5-dimensional model; and Maluku, East Nusa Tenggara, and East Kalimantan in the 6-dimensional model. Despite these provincial disparities, overall inclusivity levels demonstrate relative consistency. Nationally, the index fluctuated during the period, peaking at 4.65 in 2011 and hitting a low of 3.75 in 2022, resulting in an average of 4.18. These results underscore that inclusive development remains a persistent systemic and structural challenge for Indonesia.
The Influence of Macroeconomics Variables, Global Crisis, and Geopolitical Situations on IDX Composite DYAH WAHYUTRI; Prasetyia, Ferry
Journal of Development Economic and Social Studies Vol. 5 No. 1 (2026)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Brawijaya

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Abstract

The Jakarta Composite Index (JCI) is a key indicator of Indonesia’s capital market performance and reflects investor responses to macroeconomic conditions and global uncertainty. Rising market volatility in recent years underscores the urgency of identifying the determinants of IHSG movements. This study aims to examine the effects of macroeconomic variables and geopolitical shocks on the JCI using a quantitative approach with monthly time-series data from January 2015 to May 2025. The analysis employs multiple linear regression based on the Ordinary Least Squares (OLS) method with robust standard errors. The variables include inflation, interest rates, exchange rates, money supply (M2), gold prices, and geopolitical crisis proxies represented by dummy variables. The results show that macroeconomic factors and geopolitical crises jointly exert a significant influence on JCI fluctuations, with varying impacts across variables. These findings imply that maintaining macroeconomic stability and incorporating global risk considerations are crucial for policymakers and investors in supporting capital market resilience.
Intergovernmental Transfers Reduction Policy and Flypaper Effect: Case of Covid-19 Pandemic in Indonesia Sherlita Nurosidah; Mohamad Khusaini; Ferry Prasetyia
Jurnal Ekonomi dan Studi Pembangunan Vol 15, No 1 (2023)
Publisher : Universitas Negeri Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17977/um002v15i12023p001

Abstract

This study empirically examines the influence of intergovernmental transfers and the fall of it to local government’s expenditure in Indonesia as well as the possibility of flypaper effect occurrence over pandemic. Over the years, in general, intergovernmental transfers in Indonesia was increasing since decentralization was applied in 2000 till the pandemic hit the country which made the regulator for the first time in 20 years decided to cut overall transfers for municipalities in order to recover economically. A set of cross-section data used in this study is the year 2020 from 34 provinces, 417 regencies, dan 91 cities. The result of pooled OLS regression model shows that flypaper effect does appear for all types of expenditures, such as total expenditure, capital expenditure, and operational expenditure of the local government. Asymmetric response of those three are quite varied. Total expenditure shows asymmetry whereas capital and operational expenditures find the opposite. 
Mandalika Specifics: A Conceptual Analysis of Opportunities and Challenges in Tourism-Based Development Strategy in Indonesia Suryadi S, Lalu; Suman, Agus; Ekawaty, Marlina; Prasetyia, Ferry
Journal of Business, Social and Technology Vol. 7 No. 1 (2026): Journal of Business, Social and Technology
Publisher : Politeknik Siber Cerdika Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59261/jbt.v7i1.591

Abstract

Background: The development of tourism-based Special Economic Zones is one of the Indonesian government's strategies to drive regional economic growth, attract investment, and reduce development disparities between regions. The Mandalika Special Economic Zone in Lombok, West Nusa Tenggara Province, is a national priority project designed as a new growth center through the integration of investment, infrastructure, and the development of world-class tourism sectors. Objective: This study aims to analyze the strategic rationality of area development, identify opportunities for economic, social, and environmental benefits, and evaluate the challenges of implementing inclusive and sustainable development. Methods: The research uses a qualitative approach with a conceptual design through literature studies and analysis of policy documents relevant to the development of special economic zones and tourism development. The analytical framework integrates the theory of special economic zones, the tourism-led growth hypothesis, and the perspectives of sustainable and inclusive development. Results: The analysis results indicate that the Mandalika SEZ has significant potential to drive regional economic growth through increased investment, job creation, strengthening the service sector, and enhancing national tourism competitiveness. Strategic infrastructure and the hosting of international events have also increased the region's visibility on a global level and created economic multiplier effects for supporting sectors, including micro, small, and medium enterprises. However, this study also identifies various key challenges including land acquisition issues, the inclusiveness of development for local communities, pressure on the carrying capacity of the coastal environment, and the complexity of governance and institutional coordination. The long-term success of the region greatly depends on the ability to integrate economic growth with the principles of environmental sustainability and social justice. Conclusion: Therefore, strengthening governance, participatory planning, developing local community capacity, and implementing sustainable development principles are key factors in ensuring that the Mandalika SEZ not only functions as an international tourist destination but also as an instrument for inclusive and sustainable regional economic transformation.