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All Journal Daengku: Journal of Humanities and Social Sciences Innovation
Akhmad Kusuma Wardhana
Departemen Ekonomi Syariah, Universitas Airlangga (60286), Surabaya, Indonesia
Humanities Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Other

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The Effect of Education, Income, Unemployment, and Poverty toward the Gini Ratio in Member of OIC Countries Hasna Fauziana; Akhmad Kusuma Wardhana; Sulistya Rusgianto
Daengku: Journal of Humanities and Social Sciences Innovation Vol. 2 No. 2 (2022)
Publisher : Lembaga Penelitian dan Pengembangan Teknologi dan Rekayasa, Yayasan Ahmar Cendekia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (500.552 KB) | DOI: 10.35877/454RI.daengku874

Abstract

This study aims to observe the effect of the Gini Ratio with factors of education, income, unemployment, and poverty in OIC member countries. This study uses purposive sampling in collecting data in the form of 24 OIC countries between 2010-2019. The data were observed using a random effect model after the Chow and Iju Hausman tests were carried out. The results show that only poverty has a significant effect on the Gini ratio. Poverty which is certainly caused by inequality in income received against expenditure causes a serious increase in poverty which in turn affects the Gini index number. Factors such as income, primary school education, and unemployment have no significant effect on the Gini ratio.
Application of Vector Error Correction Model on Macroeconomic Variables toward Changes in the Composite Stock Price Index Andini Cahyaning Pratiwi; Akhmad Kusuma Wardhana; Sulistya Rusgianto
Daengku: Journal of Humanities and Social Sciences Innovation Vol. 2 No. 2 (2022)
Publisher : Lembaga Penelitian dan Pengembangan Teknologi dan Rekayasa, Yayasan Ahmar Cendekia Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (422.692 KB) | DOI: 10.35877/454RI.daengku883

Abstract

Macroeconomic variables are still interesting to study because some studies still find inconsistent results and dependence on the dynamics of the capital market and international financial markets, especially when there is turmoil in the domestic and international stock markets. This study aims to analyze the causality and cointegration relationship of macroeconomic variables, namely: interest rates (BI Rate), inflation and exchange rates to changes in the composite stock price index (CSPI) using the Vector Error Correction Model (VECM) method with the analysis tool Eviews 10 using secondary time series data based on the period 1990 to 2021. Exogenous variables tested include the BI rate, Inflation and the Logarithm of the Natural Exchange Rate (LnKurs) while the endogenous variables are the Natural Logarithm of the Composite Stock Price Index (LnIHSG). The results showed that the cointegration test results with Johansen's Cointegration Test found that the movement of the LnIHSG, BI Rate, Inflation and Exchange Rates had a relationship of stability/balance and the similarity of movements in the long term. In the causality test with Granger's Causality Test, there is a unidirectional causality relationship between the BI Rate variable and the LnIHSG variable, while there is a two-way causality between the Foreign Exchange variable and the BI Rate variable and vice versa, as well as a two-way causality relationship between the Exchange Rate variable and the Inflation variable, and vice versa.
Co-Authors Andini Cahyaning Pratiwi Hasna Fauziana Sulistya Rusgianto