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DETERMINAN CADANGAN DEVISA DI 5 NEGARA ASEAN PASCA GEJOLAK EKONOMI COVID-19 Ambarwati, Dwi; Oktavilia, Shanty
SIBATIK JOURNAL: Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, Dan Pendidikan Vol. 4 No. 7 (2025)
Publisher : Penerbit Lafadz Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54443/sibatik.v4i7.2915

Abstract

This study examines the macroeconomic factors influencing foreign exchange reserves in five ASEAN countries (Indonesia, Malaysia, Thailand, Vietnam, and the Philippines) during the 2022–2024 period, in the aftermath of the COVID-19 pandemic and rising global interest rates. A panel data regression using the Fixed Effect Model (FEM) was employed. Independent variables include exports, imports, exchange rates, inflation, benchmark interest rates, and foreign direct investment (FDI), with foreign exchange reserves as the dependent variable. Results show that all variables have significant effects. Imports, exchange rates, interest rates, inflation, and FDI contribute to the increase in reserves, while exports have a negative impact. This suggests that heavy reliance on imported raw materials reduces the positive contribution of exports. Policy implications include strengthening export structures, managing productive imports, stabilizing exchange rates, controlling inflation, and enhancing the quality of FDI. The findings offer empirical insights for external resilience strategies in the ASEAN region.
Paradigma Tiga Tipe Hukum Menurut Philippe Nonet dan Philippe Selznick dalam Kaitannya dengan Pengelolaan Negara Sibawaih, Yusran; Ambarwati, Dwi
Jurnal Hukum Jurisdictie Vol 7 No 2 (2025): Dinamika Penerapan Hukum Ekonomi Syariah
Publisher : Fakultas Hukum, Universitas Islam As-Syafi'iyah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34005/jhj.v7i2.190

Abstract

Indonesia has is the law, that puts the law as the basis of our nation and state.In practice, law not only function as an organ of officers, but also as a means of creating social justice.But, political influence, power, and interest groups often cause an imbalance in application of the law.This study adopting the literature study to assess typologies law according to philippe nonet selznick and philip, that divides into three type: repressive law, autonomous, and responsive. The result showed that type of repressive tend to put law as an instrument of rule; type autonomous stressed the independence of the law from political power; while demanding responsive type of adaptive and accommodating the dynamics of social.The law responsive is considered to be the most relevant in the context of the modern state of substantive justice because it can accommodate, but the law has three type interconnected correlation and see properly applied for a reasonable limit in the management of the state.