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DAMPAK VARIABEL MAKROEKONOMI PADA VOLATILITAS PADA PASAR MODAL SYARIAH INDONESIA: Pendekatan Model Error Correction setyo tri wahyudi; Rihana Sofie Nabella
Buletin Studi Ekonomi VOL.25.NO.2.AGUSTUS 2020
Publisher : Buletin Studi Ekonomi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/BSE.2020.v25.i02.p04

Abstract

Pasar modal syariah Indonesia terus mengalami perkembangan dan menjadi alternatif investasi. Dibandingkan dengan pasar modal konvensional, pasar modal syariah diyakini lebih kuat terhadap krisis, perubahan fundamental ekonomi dan goncangan pasar keuangan. Penelitian ini bertujuan untuk menganalisis pengaruh variabel makroekonomi terhadap Indeks Saham Syariah Indonesia. Penelitian ini menggunakan metode Error Correction Model (ECM). Hasil penelitian ini adalah naiknya kurs dan harga minyak mentah dunia akan menurunkan Indeks Saham Syariah Indonesia (ISSI), dalam jangka panjang dan jangka pendek kenaikan BI Rate akan menaikkan Indeks Saham Syariah Indonesia (ISSI) dan naiknya tingkat inflasi tidak mempengaruhi Indeks Saham Syariah Indonesia (ISSI).
THE EFFECT OF FISCAL DECENTRALIZATION ON ECONOMIC GROWTH: A STUDY OF THE PROVINCE LEVEL IN INDONESIA setyo tri wahyudi; Lutfi Kurniawati
Jurnal Ekonomi Kuantitatif Terapan 2022: Vol. 15, No. 1, Februari 2022 (pp.1-161)
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/JEKT.2022.v15.i01.p03

Abstract

Desentralisasi menjadi topik menarik dalam menganalisa keberhasilan pembangunan daerah. Hal ini karena desentralisasi muncul sebagai arahan tentang penyelenggaraan pemerintahan yang dilaksanakan secara terpusat pada masa pemerintahan orde baru. Menggunakan data tingkat propinsi periode 2011-2019 dan model regresi panel data, penelitian ini bertujuan menganalisis penerapan desentralisasi fiskal di tingkat propinsi pada pertumbuhan ekonomi. Hasil penelitian menunjukkan bahwa penerapan desentralisasi fiskal memberikan pengaruh pada pertumbuhan daerah. Hal tersebut ditunjukkan oleh derajat kemandirian daerah yang semakin meningkat setiap tahunnya. Namun demikian, kondisi tersebut tidak terjadi di sebagian besar daerah, ditunjukkan oleh rata-rata tingkat kemandirian provinsi masih menunjukkan tingkat yang rendah. Kemudian, variabel kontrol meliputi Kepadatan Penduduk, Rata-rata Lama Sekolah dan Net Ekspor memberikan pengaruh signifikan dan positif pada pertumbuhan ekonomi.
APAKAH INDEKS PEMBANGUNAN MANUSIA DAN HOTEL MEMPENGARUHI DISPARITAS PENDAPATAN? Muhammad Amrullah; Setyo Tri Wahyudi; Marlina Ekawaty
Jurnal Ekonomi Kuantitatif Terapan 2020: Vol. 13, No.2, Agustus 2020 (pp.211-356)
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24843/JEKT.2020.v13.i02.p07

Abstract

Progress in the tourism sector does not always have a good effect on the distribution of income between regions. This happened in Bali Province which had progress in the tourism sector but apparently had problems in the form of unequal distribution of income between regions that have well-known tourism objects and areas without well-known tourist attractions. This study uses the fixed effect panel data method in the form of cross section data covering 9 districts/cities and time series data covering data for the period 2008 to 2018. This study aims to determine the effect of the tourism sector and the human development index on inequality distribution income in the Province of Bali. The results of this study found that overall, the number of hotels and the human development index had a significant effect on the inequality of income distribution. The number of hotels has no significant effect on the disparity in income distribution, while the human development index has a positive and significant effect on the income distribution inequality. Meanwhile, the influence of the Interaction Variable between the Number of Hotels and the Human Development Index obtained an insignificant influence on the income disparity in the Province of Bali.
Analisis Efek Penularan Melalui Pendekatan Risiko Sistemik dan Keterkaitan Keuangan Setyo Tri Wahyudi; Rihana Sofie Nabella; Ghozali Maski
Jurnal Ekonomi Kuantitatif Terapan 2020: Vol. 13, No. 1, Februari 2020 (pp. 1-210)
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (727.353 KB) | DOI: 10.24843/JEKT.2020.v13.i01.p03

Abstract

Banking sector plays an important role in the economy. The emergence of the dual banking system era has become an alternative source of financing aside from conventional banks in supporting economic growth. Banks are also expected to be able to manage their risks well, one of them is systemic risk. This risk arises due to the contagion effect and is compounded by the financial linkages between banks. Research aims to analyze the contagion effect through a systemic risk approach and financial linkage on the dual banking system in Indonesia. This study uses the Conditional Value at Risk (CoVaR) by Adrian and Brunnermeier (2009) with a sample of 8 Islamic banks and 7 conventional commercial banks in Indonesia from January 2012 to December 2018. The results obtained are systemic risk and financial linkage able to explain the contagion effect in a banking system. High systemic risk and high financial linkage can drive negative externalities towards other institutions in the banking system, in this case transmitting risks. Keywords: contagion effect, systemic risk, financial linkage, dual banking system
The Effect of Capital Expenditure on Local Revenue: Study In East Java Indonesia Danang Triyanto; Setyo Tri Wahyudi; Candra Fajri Ananda
Jurnal Ekonomi Kuantitatif Terapan 2017: Vol. 10, No. 2, Agustus 2017 (pp. 110 - 252)
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1018.489 KB) | DOI: 10.24843/JEKT.2017.v10.i02.p04

Abstract

In the decentralization era, local independence is the logic consequence of the implementation of fiscal decentralization. Further, fiscal decentralization has potentially to increase economic efficiency of the local government if compared with the central government. This research analyzed the effect of capital expenditure through Regional Gross Domestic Product (RGDP) on Local Revenue. The sample in this study was 38 districts/ cities in East Java province in Indonesia using path analysis. The results showed some findings, first, capital expenditures which divided into productive capital expenditures and less productive capital expenditures has affect on regional gross domestic product. Second, regional gross domestic product has affects on the forming components of local revenue. Furthermore, less productive capital expenditures and productive capital expenditures have indirect effect on local revenue through regional gross domestic product.
Income Distribution and Inequality in Indonesia: Study on Middle Class Household Indra Maipita; Setyo Tri Wahyudi
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 18, No 1 (2017): JEP 2017
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v18i1.3974

Abstract

The current positive trend of Indonesia’s economic growth has demonstrated that increasing income per capita is one of the economic prosperity indicators. One pillar of the increase in the income per capita of middle class is its surge to 56.5% in 2010 compared to that of in 2000 which only reached 20%, and it has brought Indonesia to be qualified as a middle-income country. It is believed that, one of the ways to reduce inequality in society is by encouraging economic growth and development of middle-class society. This study aims to analyze the profile of middle class household and its contribution on decreasing inequality in Indonesia using the data of National Survey of Social Economy (Susenas) from 2004 to 2012. By using Keynesian Consumption model and Lorenz Curve, the results showed that middle-class grouping by using the 20th and 80th percentile of income has a higher growth than that of the USD or portion average income approach. However, due to the relatively small contribution of middle class income growth in Indonesia to the economic growth, the changes on Indonesian middle class income is inelastic to the changes on national output.
Mitigating Income Inequality in Bali Province, Indonesia Muhammad Amrullah; Setyo Tri Wahyudi; Marlina Ekawaty
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 21, No 2 (2020): JEP 2020
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v21i2.10734

Abstract

Studying the distribution of income in a region is an important topic to know about the factors that influence the distribution of income, then find out the factors that are the solution to problems related to income distribution, and later can minimize differences in income distribution disparities between regions. This paper estimates the relationship between Unemployment, Labor Participation, Employed Workers, Elementary School Graduates, Junior High School Graduates, and Senior High School Graduates to Income Inequality in 9 districts/cities in Bali Province throughout 2008-2018. This study estimates the relationship of six independent variables to income inequality as the dependent variable using multiple panel regression analysis with the Fixed Effect Model (FEM) model in 9 districts/cities in Bali Province over period 2008-2018. The results of this study found that Unemployment, Labor Participation, Employed Workers, Elementary School Graduates, Junior High School Graduates, and Senior High School Graduates are significant to Income Inequality. Unemployment and Junior High School Graduates positively affect to Income Inequality, then Labor Participation, Employed Workers, Elementary School Graduates, and Senior High School Graduates negatively affect to Income Inequality.
Comparative Analysis on The Market Share of Indonesian Export Commodities: Opportunities and Challenges Setyo Tri Wahyudi; Indra Maipita
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 19, No 2 (2018): JEP 2018
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v19i2.5708

Abstract

Indonesia is one of the largest exporting countries, mainly of food products and chemicals. However, its import-export data show that the high export value on chemical commodities and food product is followed by relatively high import value on those commodities. This study examines the comparative advantage of Indonesian export commodities. The analysis is conducted by mapping and analyzing the condition and the potential of Indonesian export market in various trading partner countries. In addition, this study identifies the potential, opportunities, and challenges that Indonesia will face to improve the market of its export commodities. The testing of comparative advantage is carried out using chemical commodities. RCA is a method that is used to analyze the competitiveness of Indonesian export commodities. The results of this study indicate that chemicals have a comparative advantage with the value of greater that 1 during 2012-2016, but the import of chemical raw materials also tends to be higher. Featured commodities are inseparable from challenges and obstacles, such as dependence on main export destination countries, economic crises, and relatively high import value of raw materials. However, the opportunity of Indonesia to increase the contribution of the export to national income is still wide open. Maximizing the potential of market diversification strategy that is implemented by Indonesian government is expected to increase the export of Indonesian commodities.
ZAKAT AND ECONOMIC DEVELOPMENT: STUDY IN THREE MUSLIM COUNTRIES IN SOUTHEAST ASIA An’im Kafabih; Setyo Tri Wahyudi
Quantitative Economics Journal Vol 9, No 1 (2020): APRIL 2020
Publisher : Universitas Negeri Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24114/qej.v9i1.23595

Abstract

The objective of this study is to analyze the effect of zakat on per capita income as one indicator of economic development. The data is analyzed by Cobb-Douglas production function and panel data analysis model. Study findings show that zakat significantly and positively affect on per capita income. This study also found that compared to Foreign Direct Investment (FDI), most popular instrument of government to increase economic development, zakat has a greater coefficient. In addition, Muslims as a majority population on average unable to contribute significantly to economic development. However, they could contribute to zakat as seen from increase in amount of zakat collection.
ANALYSIS OF FACTORS AFFECTING POVERTY IN NORTH SUMATERA PROVINCE (CASE STUDY IN 33 DISTRICT / CITY) Yudistira Avandi; Setyo Tri Wahyudi
Quantitative Economics Journal Vol 8, No 2 (2019)
Publisher : Universitas Negeri Medan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24114/qej.v8i2.23616

Abstract

The equitable poverty reduction in North Sumatera became one of the unresolved issues until now. The decreasing of poverty percentage in the last five years in North Sumatera can not represent the level of public welfare. In fact , in 2013, there were 22 out of 33 districts in North Sumatera which have the poverty percentage more than ten percent and known as hardcore poverty. The highest poverty percentage was found in North Nias and Gunung Sitoli by 30.94 %, while the lowest was found in Deli Serdang by 4.71 %. This research stated the problem “How is the influence of the economic growth, level of education, and the minimum regional wages toward the level of poverty in North Sumatera Province? The objective is to analyze the influence of economic growth, the level of education and the minimum wages toward the poor population in North Sumatera Province. This research used 165 samples that spread in 33 districts in North Sumatera from 2009 until 2013 with panel data and using Fixed Effect Model Method.  The result of the Ordinary Least Square Method (LOS) through the multiple linear regretion estimated model showed that the economic growth and the minimum regional wages had negative influence, while the level of education had positive influence toward poverty in North Sumatera. The coefficient of determination (R2) is 0.948157 which means the variable of economic growth, minimum regional wages and level of education can define the poverty in North Sumatera by 94.82 %, and 5.18 % defined by other economic variables outside the model.
Co-Authors AA Sudharmawan, AA Abu Bakar Sambah, Abu Bakar Aida Sartimbul Amalia Rahmawati Amalia Rahmawati Amrullah, Muhammad Anggraeni, Rilla Anthon Efani An’im Kafabih Arifin, Muchammad Yudha Ariyanto, Wahyu Arum Prastiwi Atikawati, Dini Axellina Muara Setyanti Azizah Azizah Bahrian Kansiro Bhirawa, Stefanus Sandi Mega Candra Fajri Ananda Christiayu Natalia Cut Nurul Iman Daeng Ahmad Fakhrian Zuhdi Danang Triyanto Devan S. Pratomo Dewani Indah Tawakalni Dita Saragih, Gabriella Johana Dwi Retno Widiyanti Erisha Nurul Uma Erlyn Yuniashri Estika, Winda Febi Fahrurrozy Fahrurrozy Feri Fachrudin Fildza Amalina Qisthina Fildza Amalina Qisthina Firman Herdiansah Fitrawaty Fitrawaty Ghozali Maski Ghozali Maski Ghozali Maskie Gita Estu Wulandari Harsuko Riniwati Hendarmin Hendarmin Hendrawan Susilo Heriyanti Tampubolon Hyldha Christanty Ida Nuraini Ida Nuraini Indra Maipita Indra Maipita Indra Maipita Indra Maipita Indra Maipita Iswan Noor Jayawarsa, A.A. Ketut Julian Felix Armando Kartika Sari Kartika Sari Kartika Sari Kartika Sari Kartika Sari Kartika Sari Kartikaningsih, Hartati Khotiawan, Ma'rufa Khusnul Ashar Liza Herdiyati Lumban Gaol, Rachel Millenia Lutfi Asnan Qodri Lutfi Kurniawati M Khusaini M. Daniel Septian M. Khusaini M. Khusaini M. Khusaini Margaretha, Viony Marlina Ekawaty Moh. Khusaini Mohd Dan Jantan Mohd Dan Jantan Mokhamad Nur Mokhamad Nur Muhammad Amrullah Muhammad Amrullah Muhammad Faisyal Abdullah Muhammad Sri Wahyudi Suliswanto Munawar Ismail Nabella, Rihana Sofie Nabella, Rihana Sofie Nabella Natalia, Deasy Chrisnia NBadriyah, Nurul Nurul Badriyah Nurul Badriyah Nurul Badriyah Pratama, Agung Yuda Putra, Pranata Candra Perdana Putri, Rizka Zuhriani Qodri, Lutfi Asnan R. Radeetha Rachmad Kresna Sakti Rachmad Kresna Sakti Radeetha Radeetha Radeetha Radeetha Radeetha, Radeetha Rahmadani, Lailia Yuslichati Ratang, Sarlota Rihana Sofie Nabella Rihana Sofie Nabella Rihana Sofie Nabella Rihana Sofie Nabella Rihana Sofie Nabella Rihana Sofie Nabella Rihana Sofie Nabella Rihana Sofie Nabella Riyandi Saras Anggita Rizka Zuhriani Putri Robith, Zaidar Rosyadi, Thalita Maulydia Salsabiela Istikmal Sasanti Widyawati Sasanti Widyawati Setyandhinavia, Amilis Sigit Harjanto Sinaga, Vita Marceline Sofie Nabella, Rihana Sonny Subroto M Laksono Sovia Rosalin Sri Muljaningsih Sri Muljaningsih Supartono, - Susilo Susilo Susilo Susilo Syahrial Shaddiq Tri Budiono Wardana, Fitri Candra Wawan Hermawan Yudistira Avandi Zakaria, Rinny Apriliany Zamrud Siswa Utama