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All Journal Jurnal Ekonomi & Studi Pembangunan IJBE (Integrated Journal of Business and Economics) Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi BALANCE: Economic, Business, Management and Accounting Journal Jurnal EK dan BI Cendekia Niaga Journal of Islamic Economics and Philanthropy Journal of Economics Research and Social Sciences Income: Innovation Of Economics And Management Madani: Multidisciplinary Scientific Journal Ahsana: Jurnal Penelitian dan Pengabdian kepada Masyarakat Socius: Social Sciences Research Journal Journal of Advances in Accounting, Economics, and Management Journal of Business Economics and Agribusiness Journal of Regional Economics and Development Eko-Regional: Jurnal Pembangunan Ekonomi Wilayah Eko-Regional: Jurnal Pembangunan Ekonomi Wilayah
Mahrus Lutfi Adi Kurniawan, Mahrus Lutfi Adi
Institute of Public Policy and Economic Studies
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Physics Public Health Social Sciences Other

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Analysis of Macroeconomic Indicators Against the Composite Stock Price Index (CSPI) in Indonesia: Vector Error Correction Model (VECM) Approach Aminarta, Afla Afifa; Kurniawan, Mahrus Lutfi Adi
Journal of Economics Research and Social Sciences Vol 5, No 2 (2021): August
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jerss.v5i2.12267

Abstract

The Composite Stock Price Index (CSPI) is one indicator to determine economic growth. The Composite Stock Price Index (CSPI) is formed by counting the stocks listed on the Indonesia Stock Exchange (IDX). Macroeconomic conditions can influence the movement of the CSPI in a country. Macroeconomic indicators that affect the CSPI include inflation, exchange rates, and interest rates represented by the BI rate. This study aimed to determine how much influence the selected macroeconomic indicators had on the CSPI and determine the CSPI movement forecast. This study uses the Vector Error Correction Model (VECM) as an estimation method. The research shows that the inflation, exchange rate, and BI rate variables do not affect the CSPI in the short term, and only the exchange rate variable affects the long term. Forecasting performed on variables shows an over-optimistic forecast for the exchange rate and BI rate variables.
PERTUMBUHAN EKONOMI DAN PENENTUAN TITIK AMBANG BATAS INFLASI DI INDONESIA Kurniawan, Mahrus Lutfi Adi; Prawoto, Nano
Jurnal Ekonomi & Studi Pembangunan JESP Volume 15 Nomor 1, April 2014
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Abstract: The study aims to see the relation between two macro indicators which are economic growth and inflation. The data are obtained from Badan Pusat Statistik (BPS) and Badan Koordinasi Penanaman Modal (BKPM) from the year 1971-2012. The analysis use causality granger test and non-linier regression. The result of this analysis shows that there is correlation between inflation and economic growth. There is no evidence of inflation dot (1 to 20%) that has negative influence toward the economic growth; population does not have significant influence to the economic growth while investment has positive impact on economic growth. Abstrak: Studi ini bertujuan untuk melihat sejauh mana hubungan antara dua indikator makro ekonomi yaitu pertumbuhan ekonomi dan inflasi. Data yang digunakan diperoleh dari Badan Pusat Statistik (BPS) dan Badan Koordinasi Penanaman Modal (BKPM) pada tahun 1971-2012. Teknik analisis yang digunakan adalah uji kausalitas granger dan regresi non-linier. Hasil analisis menunjukkan bahwa terdapat hubungan dua arah yang saling berkaitan antara pertumbuhan ekonomi dan inflasi. Tidak ditemukan titik inflasi (1 sampai 20 persen) yang berpengaruh negatif terhadap pertumbuhan ekonomi, dan populasi tidak berpengaruh signifikan terhadap pertumbuhan ekonomi sedangkan investasi berpengaruh positif terhadap pertumbuhan ekonomi.  
Analisis Struktural Perdagangan di Indonesia: Pendekatan Bayesian VAR Fadlilah, Annastia Abqiatul; Kurniawan, Mahrus Lutfi Adi
Cendekia Niaga Vol 8 No 1 (2024): Cendekia Niaga Volume 8 Nomor 1 Tahun 2024
Publisher : Pusat Pendidikan dan Pelatihan Aparatur Perdagangan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52391/jcn.v8i1.875

Abstract

This research aims to determine the response of central government expenditure, government debt, government capital expenditure, population growth to international trade. The dependent variable in this research is the international trade variable and the independent variables include government debt, central government spending, government capital spending and population growth. The data in this research includes time series data in the form of percentages from 1971-2020 which were analyzed using the VAR (Vector Autoregressive) method. The results of this research are that all variables have a significant and positive response to international trade shocks. Based on the variance decomposition test, all variables contribute to international trade and have an increasing contribution until the final period. This is shown by the S.E value in period one of 12,242 and increasing in period ten of 27,282. Then the state debt variable has a high contribution to international trade and is continued with the government spending, capital learning and population growth variables.
A time-varying of property residential price in Indonesia: a VAR approach Khoirudin, Rifki; Kurniawan, Mahrus Lutfi Adi
Jurnal Ekonomi & Studi Pembangunan Vol 24, No 1: April 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v24i1.17750

Abstract

The crisis of 2008 started with asset price bubbles which spread to other sectors, thus driving a recession. Turmoil in the housing sector can directly harm the domestic economy and financial stability. The research aims to analyze macroeconomic variables that can affect asset prices in Indonesia and how the inflation-targeting framework directly affects asset prices. This study contributes to the current research, such as the early warning system for the asset sector that the crisis of 2008 started with asset price bubbles. The Inflation Targeting Framework (ITF) policy used by the Central Bank has shown its effectiveness in the property sector. It can be seen that a negative response is shown from property prices when there are inflationary shocks. The response of interest rates to fluctuations in housing prices is stronger than the response of housing prices to fluctuations in interest rates. It indicates that the interest rate stimulus is more reactive to changes in housing prices as an accommodation of housing price volatility. GDP and money supply will respond negatively to property price fluctuations, which can lead to a crisis because GDP responds negatively. The strengthening of fiscal and monetary policy can soften the volatility of asset prices.
Money Demand in Indonesia: Does Economic Uncertainty Matter? Kurniawan, Mahrus Lutfi Adi; A'yun, Indanazulfa Qurrota; Perwithosuci, Winny
Jurnal Ekonomi & Studi Pembangunan Vol 23, No 2: October 2022
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v23i2.15876

Abstract

Since the global financial crisis of 2008, there has been a rise in economic uncertainty and money demand research. The money demand is vital in monetary policy, which has implications for the regional economy. This study aims to analyse the money demand in Indonesia in the middle of global economic uncertainty, as well as the contribution of the study, which includes the economic and monetary policy uncertainty in a separate model for an enhanced money demand function. The study used a structural vector autoregressive (SVAR) approach. The results indicate that monetary demand is negatively affected by economic uncertainty. With the development of the financial sector, the impact of economic uncertainty and the unpredictability of US monetary policy drives people to be more cautious, resulting in a movement of "wealth" to other instruments. The current study implies that the monetary policy in the form of interest rates as the response to the global condition should consider monetary aggregates in terms of money demand as a precautionary measure to maintain money demand. The study revealed that stable money demand suggests inflation targeting as a monetary policy that can enhance monetary policy in the face of rising economic uncertainty.
The role of investment for poverty alleviation in Yogyakarta: Evidence from logit regression Suripto, Suripto; Sukarniati, Lestari; Khasanah, Uswatun; Kurniawan, Mahrus Lutfi Adi; Istanti, Istanti
Jurnal Ekonomi & Studi Pembangunan Vol 25, No 1: April 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v25i1.21060

Abstract

This article discusses the Solow-Romet theory of economic growth, aiming to explain the relationship between household poverty in the Province of Daerah Istimewa Yogyakarta (DIY) through investments in education, quality of life improvement, and health. The study examines various influence variables, including Non-Formal Education (XNF), Educational Scholarships (XBS), Protein Consumption (PK), Disease Prevention Costs (XL), Calorie Consumption (IK)), Health Insurance Variables (XAS ), and Food Security (XT) in assessing the poverty status of households in the Special Region of Yogyakarta in 2021. The estimation model employs a logit mode approach, using data from Susenas (National Socioeconomic) data for the Special Province of Yogyakarta, with a sample size of 4044 households. The findings of this study indicate that investments in non-formal education, school fees, and educational scholarships do not significantly affect family poverty status. However, increased investment in quality of life (such as calorie consumption) and health (including disease prevention and health insurance spending) will affect the poverty status of households in the Special Province of Yogyakarta in 2021.
Analisis Indeks Pembangunan Manusia Pulau Jawa Tahun 2010-2020 Dengan Pendekatan Panel Seemingly Unrelated Regression Ariani, Khairina Putri; Kurniawan, Mahrus Lutfi Adi; Apriliana, Dwi
Socius: Jurnal Penelitian Ilmu-Ilmu Sosial Vol 1, No 11 (2024): June
Publisher : Penerbit Yayasan Daarul Huda Kruengmane

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.11392630

Abstract

The quality of Human Resources is the main factor in driving development. To measure the welfare of society as seen from several components, including health, education and living standards, it can be determined from the value of the Human Development Index (HDI). This research aims to analyze the influence of the number of poor people, economic growth, TPT, UMP, government spending in the education and health sectors on the Human Development Index (HDI) in provinces on the island of Java in 2010-2020. Through panel data regression using the Seemingly Unrelated Regression (SUR) analysis method model with Stata.14 processing, the results of this study show that (1) the number of poor people has a negative effect on HDI, (2) economic growth has a negative effect on HDI, (3) TPT negative effect on HDI (4) UMP has no effect on HDI, (5) government spending in the education sector has a positive effect on HDI (6) government spending in the health sector has no effect on HDI (7) number of poor people, economic growth, TPT, UMP, government spending the education and health sectors together have an influence on the provincial Human Development Index (HDI) on the island of Java for 2010-2020.
Determinan Faktor Eksternal Terhadap Indeks Harga Saham Gabungan di Indonesia Santoso, Alfin; Kurniawan, Mahrus Lutfi Adi
Socius: Jurnal Penelitian Ilmu-Ilmu Sosial Vol 1, No 12 (2024): July
Publisher : Penerbit Yayasan Daarul Huda Kruengmane

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.12206712

Abstract

This research aims to find out how the dependent variable (IHSG) responds to fluctuations or shocks from the independent variables (Domestic Interest Rates, Foreign Interest Rates, World Oil, and the Dow Jones Index). The data used in this research is secondary data where this data was obtained from BI, The Fed, Nasdaq and Investing. The data used in this research is quarterly, namely IHSG data, Domestic Interest Rates, Foreign Interest Rates, World Oil and the Dow Jones Index for the period 2001-2022. The data analysis tool uses Vector Autoregression (VAR). The results of this research show that the JCI responded positively to shocks to the domestic interest rate variable and the Dow Jones index, while the foreign interest rate variable and world oil responded negatively.
Pengaruh Investasi Nilai Impor Remitansi dan Suku Bunga Terhadap Gross Domestic Product Nurachmat, Rahadian; Kurniawan, Mahrus Lutfi Adi; Cholida, Maya Nur
Madani: Jurnal Ilmiah Multidisiplin Vol 2, No 5 (2024): Madani, Vol. 2, No. 5 2024
Publisher : Penerbit Yayasan Daarul Huda Kruengmane

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.5281/zenodo.11392779

Abstract

This research aims to find out how the dependent variable (GDP) responds to the independent variable (investment import value, remittances, interest rates). The data used is secondary data, which can be obtained. from the central statistics agency (BPS), Bank Indonesia (BI). The data used in this research is quarterly, namely GDP data, direct investment, value of imports, remittances, interest rates for the period 2009-20022. The data analysis tool uses Autoegressive Distributed Lag (ARDL). The results of this research show that negative GDP -1 is not significant in the short term. Negative GDP -2 is not significantly significant, while in the short term GDP -3 is negative but significant. In the short term, investment is influential and not significant. on economic growth in the short term while in the long term investment Short The value of imports has no effect and is not significant in the short term while in the long term the value of imports has no effect and is not significant remittances are influential and significant remittances -1 has no effect but is significant but in the long term it is positive and significant interest rates have no significant effect. Interest rates -1 have an effect but are not significant, but in the long term interest rates have no effect but are significant. And the cumulative results show that the stability of the parameters on the blue line is still within the red line area, which can be said to be stable data stability.
Corporate Social Responsibility of Coal Comodity Industry in Indonesia Solihudin, Ahmad Rizal; Danica; Kurniawan, Mahrus Lutfi Adi
BALANCE: Economic, Business, Management and Accounting Journal Vol 21 No 1 (2024): Januari
Publisher : UMSurabaya Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30651/blc.v21i1.2281

Abstract

The concept of Corporate Social Responsibility (CSR) continues to develop following the rapid development of business models and awareness of various groups regarding CSR issues. The implementation of CSR has been carried out by companies at various levels, from multinational, national to local companies, especially in Indonesia. This research aims to analyze the CSR performance of coal companies in Indonesia by measuring leverage, profitability and company size. The data collection method uses content analysis techniques in annual reports of coal companies listed on the IDX. The testing method uses panel data regression. Hypothesis test results show that company size and probability influence corporate social responsibility (CSR). Meanwhile, leverage shows a positive and significant influence on corporate social responsibility (CSR).
Co-Authors A'yun, Indanazulfa Qurrota A.A. Ketut Agung Cahyawan W Agus Salim Agus Salim Ahmad Rizal Solihudin Aminarta, Afla Afifa Andani, Gina Apriliana, Dwi Ariani, Khairina Putri Athfal , Azkal Azkiya Az zakiyyah, Nurul Azizah Basia, Lusmino Cholida, Maya Nur Danica Darokah, Husna Enggar Dani Fadlilah, Annastia Abqiatul Fitri Agustina Gatari, Altis Puspa Hery Widijanto Ilyasa, Wahyu Nur Istanti Istanti, Istanti Khasanah, Dindha Uswatun Khoirudin, Rifki Laela, Khusnul Lestari Sukarniati, Lestari Lubis, Firsty Ramadhona Amalia Lubis, Ramadhona Amalia Nano Prawoto Novitasari, Farida Nurachmat, Rahadian Perwithosuci, Winny Puspita, Velda Putra, Budi Jaya Rahma Sari, Rahma Ridani, Fara Santoso, Alfin Sari, Danik Kurnia Sari, Diah Puspita Sari, Rosita Purnama Sembiring, Rinawati Subagya, Denysa Cristiana Suripto Suripto Trian Gigih Kuncoro Trianto, Cahyo Zuhairoh, Saffaanah