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Journal : Economic Journal of Emerging Markets

DETERMINAN INVESTASI DI DAERAH: STUDI KASUS PROPINSI DI INDONESIA Jamzani Sodik; Didi Nuryadin
Economic Journal of Emerging Markets Volume 13 Issue 1, 2008: Indonesian Version
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v13i1.48

Abstract

The main purpose of this research is to test the determinant of investment locations in 26 provinces in Indonesia between 1993-2003 using dynamics method of panel. Factors affecting to investment locations in Indonesia are indicator of market size which is growth rate PDRB (X1), infrastructure indicator i.e. number of electricity capacity (X2), indicator spatial which is deensity (X3), indicator manpower that is labour force (X4) and wages/UMP (X5), and last of economic indicators that is export/ level of chartered investment counsel openness (X6). The result concludes that all variables applied in stationary research has at data level (I0), equally all variables have owned degree of the same integration. Result of testing of panel co integration with approach of parametric indicates that Group rho-Statistic to have coefficient 8432 while Group PP-Statistic has coefficient co integration of 9193. The coefficient co integration by using Group ADF-Statistic is 2540. Probability each testing method indicates that variable applied by co integrating at level of significance at 5%. From total 7 testing panel, got result that all research variable of co integrating or on a long term research variable has direction of the same movementKeywords: investments, panel dynamic, unit root panel, and cointegration panel
Determinants of Local Investment: Case Study in Provinces in Indonesia Jamzani Sodik; Didi Nuryadin
Economic Journal of Emerging Markets Volume 13 Issue 1, 2008: English Version
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v13i1.487

Abstract

The main purpose of this research is to test the determinants of local investment in 26 provinces in Indonesia since 1993-2003 using dynamic panel method. Factors affecting local investment in Indonesia are market size indicator which is growth rate PDRB (X1), infrastructure indicator i.e. number of electricity capacity (X2), indicator spatial which is deensity (X3), indicator manpower that is labour force (X4) and wages/UMP (X5), and last of economic indicators that is export/ level of chartered investment counsel openness (X6). The result concludes that all variables applied in stationary research has at data level (I0), equally all variables have owned degree of the same integration. Result of panel test cointegration using parametric approach indicates that Group rho-Statistic coefficient is 8432 while Group PP-Statistic coefficient co integration is 9193. The coefficient co integration by using Group ADF-Statistic is 2540. Probability of each testing method indicates that variable applied by cointegrating at level of significance at 5%. From total 7 testing panel, got result that all research variable of co integrating or on a long term research variable has direction of the same movementKeywords: investments, panel dynamic, unit root panel, and cointegration panel
Real Effective Exchange Rate Determination in Indonesia: A Behavioral Equilibrium Exchange Rate Approach Didi Nuryadin
Economic Journal of Emerging Markets Volume 11 Issue 2, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v11i2.531

Abstract

The aim of this paper is to analyze the determination of real effective exchange rate in Indonesia for the period 1994.1-2004.6 using behavioral approach. The sets of funda¬mental variables consisting of net foreign asset, term of trade, ratio total trade to GDP, pri¬vate and government consumption were used to estimate for resulting estimation of behav¬ioral real effective exchange rate.The data was used in this study using time series monthly data from 1994.1 – 2004.6. The source of data were taken from International Financial Statistic and Central Bank of Indonesia. The method of analysis is multivariate cointegration methods of Johansen to determine the long run relationship real effective exchange rate. Exchange rate misalign¬ment was also used in this study by plotting the series between actual real effective exchange rate and the behavioral equilibrium exchange rate. The results of this study showed that from the estimation result of behavioral equi¬librium exchange rate, some variables of the sets fundamental variables such as net foreign asset, term of trade and ratio total trade to GDP were correctly signed, plausible magnitude and statistically significant. But, government and private consumption were not statistically significant and incorrectly signed. From the plotted result between actual and equilibrium estimation, it represents that for the period post-1997, the currency has been undervalued. The close alignment between actual and equilibrium was occurred in 1998 and 1999. But at the end of the sample, the currency looked overvalued.Keywords: Real effective exchange rate, Behavioral equilibrium approach, Cointegration
Investasi dan Pertumbuhan Ekonomi Regional (Studi Kasus pada 26 Propinsi di Indonesia, Pra dan Pasca Otonomi Jamzani Sodik; Didi Nuryadin
Economic Journal of Emerging Markets Vol. 10 No. 2 (2005)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v10i2.599

Abstract

The aim of this study is to examine the affect of investment on regional economic growth 26 province pre and pasca authonomy for periods of 1998-2003 using GLS method (General Least Square) for process polling data. Factor that affect the regional economic growth are foreign direct investments (X1), direct domestic investmens (X2), we also identify other factors (as controlled variables) that can influence the regional economic growth. These variables are labor force (X3), inflation rate (X4), and rate openness economic pro¬vince (X5).The results found regional economic growth for periods 1998-2003 are influenced by foreign direct investments (X1), labor force (X3), and rate openness economic pro¬vince (X5). However direct domestic investments (X2), and inflation rate (X4) do not affect to regional economic growth. But for periods 1998-2000 (pre authonomy) foreign direct in¬vestments (X1), and rate openness economic province (X5) affect to regional economic growth. Periods 2000-2003 (pasca authonomy) inflation rate (X4) and rate openness eco¬nomic province (X5) affect to regional economic growth.Keywords:    investment, foreign direct investments, direct domestic investments, regional eco¬nomic growth, pre authonomy, pasca authonomy, and panel data.
EDUCATION AND REGIONAL ECONOMIC GROWTH IN CENTRAL JAVA Jamzani Sodik; Didi Nuryadin
Economic Journal of Emerging Markets Volume 3 Issue 2, 2011
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/vol3iss2aa2327

Abstract

There has been a long debate on the relationship betwen investment on human resources and economic growth. This paper examines the affect of investment and three level of education, namely elementary school, junior high school, and senior high school, on regional economic growth in Central Java. It estimates a General Least Square on a pool data of 35 districts from 2004 to 2008. The results suggest that regional economic growth is influenced by investments and the growth of junior high school attainment. However the growth of senior high school attainment and growth of elementary school attainment do not affect regional economic growth.Keywords: Investment, education, regional economic growth, panel dataJEL classification numbers: O15, O43
REAL EXCHANGE RATE AND ECONOMIC FUNDAMENTAL: EMPIRICAL STUDY OF ASEAN-5 Didi Nuryadin
Economic Journal of Emerging Markets Volume 1 Issue 3, 2009
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v1i3.6423

Abstract

This paper studies the effect of fundamental economic variables on real exchange rates in Asean-5. The fundamental economic variables are capital mobility, technological progress, terms of trade, opennes index and fiscal policy. The paper applies panel unit root test, panel cointegration test, and Engle-Yoo three-step for short run and long run equilibrium. The result indicates that purchasing power parity holds in the short run. The estimation of equilibrium real exchange rate equation suggests that the direction of the coefficients is in accordance with the theory. It also finds that capital inflow negatively influences equilibrium real exchange rates, and that technological progress affects real exchange rate.