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Journal : Jurnal Ekonomi

THE DETERMINANTS OF INDONESIAN CRUDE PALM OIL EXPORT: GRAVITY MODEL APPROACH Ridwannulloh, Ridwannulloh; Sunaryati, Sunaryati
Jurnal Ekonomi & Studi Pembangunan Vol 19, No 2: October 2018
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.19.2.5004

Abstract

Crude Palm Oil (CPO) is a commodity in the agricultural sector with the largest contribution to the value of Indonesian exports. Moreover, since 2006, Indonesia has become the largest CPO producer in the world. Therefore, this research attempts to investigate determinants of In­donesia CPO export to main trading partners using Gravity model approach. This study is conducted to analyze the effect of Indonesia’s GDP, GDP of Indonesia’s four main trading partners, distance, the rupiah exchange rate against US dollar and domestic CPO consumption on Indonesian CPO exports. The analysis technique is used in this research is panel data regression using fixed-effect model. The results of this study indicate that not all variables have significant effect on Indonesian CPO exports. Variables such as Indonesia’s GDP and GDP of major trading partners have positive and significant effect, whereas rupiah exchange rate variable and domestic consumption have negative and significant effect on Indonesian CPO export. In addition, in line with Gravity model, variable of distance has negative and significant effect on Indonesian CPO exports.
EXPORT DIVERSIFICATION AND ECONOMIC GROWTH IN ASEAN Sunaryati, Sunaryati
Jurnal Ekonomi & Studi Pembangunan JESP Volume 16 Nomor 2, Oktober 2015
Publisher : Universitas Muhammadiyah Yogyakarta

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Abstract

Abstract: This paper tries to assess empirically the relationship between export diversification and economic growth on selected countries in ASEAN. Using annual data or time-series over the period 1989 to 2010 and econometric techniques (Granger causality and cointegration) are applied to test the relationship between export diversification and economic growth. The result show that, in case of Indonesia and Malaysia, there are exist uni-directional causality from GDP to export diversification. For Singapore and Thailand, the results show that there are no causal relationship between export diversification and economic growth.Abstrak: Tulisan ini mencoba mengkaji secara empiris hubungan antara diversifikasi ekspor dan pertumbuhan ekonomi di negara yang dipilih di ASEAN. Dengan menggunakan data tahunan atau time series selama periode 1989 sampai 2010 dan teknik ekonometrik (Granger kausalitas dan kointegrasi) yang diterapkan untuk menguji hubungan antara diver­sifikasi ekspor dan pertumbuhan ekonomi. Hasil penelitian menunjukkan bahwa, dalam kasus Indonesia dan Malaysia, ada ada uni-directional kausalitas dari PDB untuk diversifi­kasi ekspor. Untuk Singapura dan Thailand, hasil menunjukkan bahwa tidak ada hubungan sebab akibat antara diversifikasi ekspor dan pertumbuhan ekonomi.
The COVID-19 pandemic and the exchange rate: a lesson learned from Indonesia Sunaryati, Sunaryati; Munandar, Aris
Jurnal Ekonomi & Studi Pembangunan Vol 24, No 1: April 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v24i1.16110

Abstract

This paper aims to capture the relationship between the COVID-19 pandemic and the exchange rate. We utilized high-frequency data by utilizing daily data from January 21st, 2020, through June 29th, 2022. In contrast to the vast majority of research that disregards the incubation period of COVID-19 in the number of daily transmission cases, we use the growth of COVID-19 as a 14-day moving average of confirmed cases as the main independent variables. Findings indicate that the devaluation of the rupiah exchange rate is long-term associated with the increase in COVID-19 cases and deaths. According to the efficient market hypothesis, the rupiah depreciates due to the increase of COVID-19 transmission, which is publicized by the media. In the midst of the debate over the impact of the pandemic on the exchange rate and using Indonesia as a lesson learned for emerging market economies, our research is a recent study that examines this topic with completed data-generating processes – when the pandemic entered its last wave phase. In regard to exchange rate behavior, the disease outbreak channel exists. The government must restrict widespread media coverage of data on the spread of COVID-19 while focusing on accelerating measures to control the pandemic. A low-interest rate imposed by the monetary authorities as an effort to stimulate economic recovery can also exert pressure on the exchange rate, necessitating the optimization of other instruments, such as foreign exchange intervention.