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Cointegration and Causality Test Among Export, Import, and Foreign Exchange Subiyakto, Haryono; Algifari, Algifari
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Semarang State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.6656

Abstract

The rupiah exchange rate, import, and export are the important indicators in economy, including the Indonesia economy. The debate regarding the relationship among the exchange rate, import, and export has been persisting for several decades. Some researchers found that there is a relationship among those three and others explained that there is no correlation among them. The aim of this research is to obtain the empirical evidence of the causal relationship among the export, import, and foreign exchange rate by using the monthly data from January 2010 to April 2014. The export and import data are the export and import values in US dollar. The exchange rate data is the median exchange rates of the Indonesian Bank. The Johansen Cointegration Test and the Granger Causality Test are used to analyze the data. The research result shows that export and import have no causal relationship at five percent. Next, the foreign exchange rate influences the export and import at 10 percent level. The result indicates that the foreign exchange rate has small effects on the export and import. Based on the results, the government should control the balance of trade and should not make any policy that is based on the exchange rate values. Finally, it can be said that the exchange rate policy is not effective in increasing the exports and reducing the imports.
Cointegration and Causality Test Among Export, Import, and Foreign Exchange Subiyakto, Haryono; Algifari, Algifari
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Semarang State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.7188

Abstract

The rupiah exchange rate, import, and export are the important indicators in economy, including the Indonesia economy. The debate regarding the relationship among the exchange rate, import, and export has been persisting for several decades. Some researchers found that there is a relationship among those three and others explained that there is no correlation among them. The aim of this research is to obtain the empirical evidence of the causal relationship among the export, import, and foreign exchange rate by using the monthly data from January 2010 to April 2014. The export and import data are the export and import values in US dollar. The exchange rate data is the median exchange rates of the Indonesian Bank. The Johansen Cointegration Test and the Granger Causality Test are used to analyze the data. The research result shows that export and import have no causal relationship at five percent. Next, the foreign exchange rate influences the export and import at 10 percent level. The result indicates that the foreign exchange rate has small effects on the export and import. Based on the results, the government should control the balance of trade and should not make any policy that is based on the exchange rate values. Finally, it can be said that the exchange rate policy is not effective in increasing the exports and reducing the imports.
Cointegration and Causality Test Among Export, Import, and Foreign Exchange Subiyakto, Haryono; Algifari, Algifari
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 9, No 1 (2016): March 2016
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i1.7188

Abstract

The rupiah exchange rate, import, and export are the important indicators in economy, including the Indonesia economy. The debate regarding the relationship among the exchange rate, import, and export has been persisting for several decades. Some researchers found that there is a relationship among those three and others explained that there is no correlation among them. The aim of this research is to obtain the empirical evidence of the causal relationship among the export, import, and foreign exchange rate by using the monthly data from January 2010 to April 2014. The export and import data are the export and import values in US dollar. The exchange rate data is the median exchange rates of the Indonesian Bank. The Johansen Cointegration Test and the Granger Causality Test are used to analyze the data. The research result shows that export and import have no causal relationship at five percent. Next, the foreign exchange rate influences the export and import at 10 percent level. The result indicates that the foreign exchange rate has small effects on the export and import. Based on the results, the government should control the balance of trade and should not make any policy that is based on the exchange rate values. Finally, it can be said that the exchange rate policy is not effective in increasing the exports and reducing the imports.
Analisis Pemanfaatan Dana Transfer untuk Kemandirian Pembiayaan Daerah di Indonesia Menggunakan Model Struktural Partial Least Square Algifari, Algifari; Nurkhin, Ahmad; Saputro, Iwan Hardi
Business and Accounting Education Journal Vol 2 No 1 (2021): Business and Accounting Education Journal
Publisher : Jurusan Pendidikan Ekonomi, Fakultas Ekonomi, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (269.572 KB) | DOI: 10.15294/baej.v2i1.46031

Abstract

The aims of this study is to examine the effect of General Allocation Funds (DAU) and Special Allocation Funds (DAK) on Original Local Government Revenues (PAD) in Indonesia using APBD data for 33 provinces in Indonesia for 2016-2018. The research hypothesis was tested using the Partial Leas Square structural equation model. The results showed that DAU had a negative effect on PAD, while DAK had a positive effect on PAD. Capital Expenditures (BM) were able to mediate DAU's effects on PAD. Based on the results of this study, the researchers recommend that the DAU received by the local government from the central government should be used to increase Capital Expenditures (BM) in order to increase PAD.
Analisis Pemanfaatan Dana Transfer untuk Kemandirian Pembiayaan Daerah di Indonesia Menggunakan Model Struktural Partial Least Square Algifari, Algifari; Nurkhin, Ahmad; Saputro, Iwan Hardi
Business and Accounting Education Journal Vol 2 No 1 (2021): Business and Accounting Education Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/baej.v2i1.46031

Abstract

The aims of this study is to examine the effect of General Allocation Funds (DAU) and Special Allocation Funds (DAK) on Original Local Government Revenues (PAD) in Indonesia using APBD data for 33 provinces in Indonesia for 2016-2018. The research hypothesis was tested using the Partial Leas Square structural equation model. The results showed that DAU had a negative effect on PAD, while DAK had a positive effect on PAD. Capital Expenditures (BM) were able to mediate DAU's effects on PAD. Based on the results of this study, the researchers recommend that the DAU received by the local government from the central government should be used to increase Capital Expenditures (BM) in order to increase PAD.
PENGARUH HARI PERDAGANGAN TERHADAP RETURN SAHAM DI BURSA EFEK JAKARTA Eduardus Tandelilin; Algifari Algifari
Journal of Indonesian Economy and Business (JIEB) Vol 14, No 4 (1999): October
Publisher : Faculty of Economics and Business, Universitas Gadjah Mada

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (104.055 KB)

Abstract

The objectives of this study are: (1) to test the effect of trading days on stock return,(2) to determine whether there is any differences of daily stock returns, and (3) to testdaily abnormal return of some Indonesians common stocks. The results indicate thatthere is an effect of trading days on stock return. The study also shows that there isthe difference in daily stock returns. Finally, the result of the study indicates thatTuesday and Wednesday have an abnormal return.
EFEK FISHER DI INDONESIA: PENDEKATAN CO-INTEGRATION DAN ERROR CORRECTION MODEL (ECM) Sri Fatmawati; Algifari Algifari
Jurnal Riset Manajemen dan Bisnis Vol 9, No 1 (2014): Jurnal Riset Manajemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrmb.2014.91.225

Abstract

The aim of this research is to examine the existence of Fisher Effect for Indonesian Economy, by regressing interest rate on rate of inflation in period 1980-2011. With co-integration and error correction technique, the results indicate that an increases of one percent in inflation rate lead to increase in interest rate at 0,13 percent in short-run and at 0,95 percent in longrun. This research can’t confirm the existence of Fisher Effect in Indonesian Economy in short-run, but this effect exists in long-run. Keywords: Fisher Effect, Interest Rate, Inflation Rate, Co-integration, Error Correction Model
MODEL KESEIMBANGAN HUBUNGAN PENGARUH ANTARATINGKAT BUNGA, LAJU INFLASI, DAN KURS VALUTA ASING Endang Setyowati; Algifari Algifari
Jurnal Riset Manajemen dan Bisnis Vol 11, No 2 (2016): Jurnal Riset Manajemen dan Bisnis
Publisher : Fakultas Bisnis UKDW

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21460/jrmb.2016.112.241

Abstract

The aims of this research is to develop unequilibrium model relationship among interest rate,inflation, and foreign exchange rate in Indonesia using monthly data from January 2011 to April2015. The results of Augmented Dickey-Fuller test shows that the data of interest rate, inflation, andforeign exchange rate in this period is not stationary at level, but stationary in first difference.Johansen Cointegration test results indicate that the interest rate, inflation, and foreign exchange rateare cointegrated. Equilibrium model that used to determine the relationship among interest rate,inflation, and foreign exchange rate is Vector Error Correction models. The results of this studyindicate that interest rate affect on inflation and foreign exchange rate in Indonesia.Keyword: Interest Rate, Inflation, Exchange Rate,Vector Error Correction Model
PEMBUKUAN AKUNTANSI SEDERHANA PADA USAHA KECIL MENENGAH PAYUNG LUKIS NGUDI RAHAYU Atika Jauharia Hatta; Toyibah Kusumawati; Muhammad Sabandi; Algifari Algifari; Wisnu Pajogo Algifari; Bhakti Nur Istiqomah Algifari
Aptekmas Jurnal Pengabdian pada Masyarakat Vol 5 No 4 (2022): APTEKMAS Volume 5 Nomor 4 2022
Publisher : Politeknik Negeri Sriwijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36257/apts.v5i4.6219

Abstract

Simple accounting bookkeeping training for small and medium enterprises (SMEs) through the community partnership program aimed at improving the ability of SME partners in managing their business financial bookkeeping. So far, SMEs have never used bookkeeping to record all transactions related to their business income or expenses, so it is difficult for them to know exactly how much profit they will get from their business. Through this community partnership program, devotees try to provide the simplest bookkeeping training in an effort to equip partners to be able to manage their finances better. The results obtained from this training are increased knowledge and skills of SMEs in making simple bookkeeping so that they can increase the motivation in running their business.
DAMPAK TINGKAT BUNGA DAN LAJU INFLASI TERHADAP KURS: BUKTI DARI INDONESIA Algifari Algifari; Isnanda Zainur Rohman
CAPITAL: Jurnal Ekonomi dan Manajemen Vol 6, No 1 (2022)
Publisher : UNIVERSITAS PGRI MADIUN

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (325.547 KB) | DOI: 10.25273/capital.v6i1.13693

Abstract

Penelitian ini bertujuan membuktikan pengaruh tingkat bunga dan laju inflasi terhadap kurs menggunakan model dinamis Fully Modified Ordinary Least Square (FMOLS), Dynamic Ordinary Least Square (DOLS), and Canonical Cointegrating Regression (CCR). Data yang digunakan dalam penelitian ini meliputi tingkat bunga SBI, laju inflasi, dan kurs rupiah terhadap dolar Amerika dari Januari 2014 hingga Juni 2021. Hasil penelitian menggunakan tiga model dinamis tersebut menunjukkan dalam jangka panjang tingkat bunga berpengaruh negatif terhadap kurs. Artinya, semakin tinggi tingkat bunga di Indonesia, semakin rendah kurs (rupiah terapresiasi) dan sebaliknya. Sedangkan laju inflasi dalam jangka panjang tidak berpengaruh positif terhadap kurs. Hasil penelitian ini merekomendasikan kepada Bank Indonesia agar menggunakan kebijakan tingkat bunga SBI untuk menstabilkan nilai rupiah terhadap dolar Amerika.