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All Journal QALAMUNA: Jurnal Pendidikan, Sosial, dan Agama Agrisocionomics: Jurnal Sosial Ekonomi Pertanian E-Mabis: Jurnal Ekonomi Manajemen dan Bisnis Jurnal Agrium Media Agribisnis Community Development Journal: Jurnal Pengabdian Masyarakat Devotion: Journal of Research and Community Service International Journal of Economic, Business, Accounting, Agriculture Management and Sharia Administration (IJEBAS) Jurnal Sains Pertanian Jurnal Mahasiswa Agribisnis Bengawan :Jurnal Pengabdian Masyarakat Jurnal AGRISEP: Kajian Masalah Sosial Ekonomi Pertanian dan Agribisnis Agrifo: Jurnal Agribisnis Universitas Malikussaleh Jurnal Solusi Masyarakat Dikara
Rita Ariani
Universitas Malikussaleh
Agriculture, Biological Sciences & Forestry Arts Humanities Biochemistry, Genetics & Molecular Biology Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Health Professions Languange, Linguistic, Communication & Media Medicine & Pharmacology Public Health Social Sciences Veterinary Other

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Journal : Agrisocionomics: Jurnal Sosial Ekonomi Pertanian

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DETERMINANT OF RICE PRICE IN INDONESIA: A FOURIER ENGLE-GRANGER COINTEGRATION TEST Ariani, Rita; Nurjannah, Nurjannah; Adhiana, Adhiana; Fachrurrozi, Kamal
Agrisocionomics: Jurnal Sosial Ekonomi Pertanian Vol 8, No 3 (2024): November 2024
Publisher : Faculty of Animal and Agricultural Science, Diponegoro University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/agrisocionomics.v8i3.20468

Abstract

The issue of food prices is a critical topic that need to be discussed. Food prices has implications on economic and society. In Indonesia, rice is the most widely comsumed staple. Unfortunately, the prices of rice are often unstable due various factors. This research investigates the relationship between exchange rate, money supply, and volatility of oil prices on rice prices in Indonesia.The research study used data from the period February 2008 to December 2022 based on data availability. All research data used are secondary data with time series type. Rice price data is sourced from the Food and Agriculture Organization (FAO), exchange rates and oil prices are sourced from the Federal Reserve Economic Data (FRED), and money supply is sourced from the Indonesia Economic and Financial Statistics (SEKI). This study uses the Fourier Engle-Granger (FEG) cointegration method as a novelty in looking at cointegration that has structural breaks and the FMOLS, DOLS, and CCR methods as analysis. The results found that the research variables were found to have cointegration in the rice price model. Furthermore, the exchange rate was found to have a significant negative effect (-0.454%, -0.420%, -0.456%) on rice prices. The money supply had a significant positive effect (0.640%, 0.627%, 0.639%), and the volatility of oil prices had a significant positive effect (0.024%, 0.031%, 0.026%) on rice prices. The results of this research have important policy implications for policymakers to control money circulation, maintain exchange rate stability, and use renewable energy alternatives.
Co-Authors Ade Firmansyah Tanjung Adhiana Adhiana, Adhiana Adhiana, Adhiana Akhmad Baihaqi Al Ihwanah, Al Ihwanah Aswin Nasution Bagio, Bagio Barmawi Barmawi, Barmawi Deli, Anwar Elfiana Elfiana Elhefni Elhefni Fadli Fadli Irwanda Irwanda Kamal Fachrurrozi Martina Martina Mawardati Mawardati Maya Eriani Muhammad Jauma Basyar Nasution, Wahyu Isnanda Naya Desparita Nur Ajijah Nurjannah Nurjannah Nursayuti Nursayuti Riani Riani Riani Riani, Riani Siti Amalia Syarifah Hudayah Syarifudin, Ahmad Tutut Handayani Zuriani, Zuriani