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All Journal Jurnal Pendidikan Ekonomi (JURKAMI) Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi
Siti Masitoh
Universitas Muhammadiyah Surakarta
Economics, Econometrics & Finance Education Social Sciences

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PENGUKURAN INDEPENDENSI BANK INDONESIA SELAMA COVID-19 Inda Fresti Puspitasari; Dhany Efita Sari; Siti Masitoh
Jurnal Pendidikan Ekonomi (JURKAMI) Vol 8, No 1 (2023): JURKAMI
Publisher : STKIP Persada Khatulistiwa Sintang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31932/jpe.v8i1.2247

Abstract

Central bank independence in Indonesia has been regulated in UU No. 33 Year 2004 concerning amendements to UU No. 23 Year 2009 concerning Bank Indonesia. However, the central bank often got intervention in formulating its policies. During the pandemic covid-19 crisis, there were several attempts to intervene Bank Indonesia, such as the idea to form a Monetary Council, suggestions to allow BI Governors from politicians, and Perppu No. 1 Year 2020 which is allow BI to bought SUN in the primary market. Therefore, this study aims to measure the independence index of the central bank in Indonesia during 2007-2020 using the measurement method developed by Cukierman et al. (1994) to analyze the independence of Bank Indonesia during the covid-19 pandemic. The result of this study proves that BI independence index during the pandemic has decreased when compared to the pre-pandemic period. This study also proves that Bank Indonesia still needs to maintain its independence from all political attention, so its accountability and credibility of the monetary policy still can assured
The Effects of Various Internal and External Factors on the Movement of the Indonesian Sharia Stock Index on the Indonesia Stock Exchange Eni Setyowati; Maulidah IH; Daryono Soebagiyo; Rafiq Azzam Al Afif; Annisa Nur Hidayah; Siti Masitoh; Ibrahim Sorie Kamara
EKUILIBRIUM : JURNAL ILMIAH BIDANG ILMU EKONOMI Vol 19, No 2 (2024): September
Publisher : Universitas Muhammadiyah Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24269/ekuilibrium.v19i2.2024.pp202-212

Abstract

This study analyzed several factors that affect the Indonesian Sharia Stock Index. The use of the inflation-currency rate, the availability of money, and the BI rate were all internal factors considered in this study. Meanwhile, the external factors used in this study were international gold and oil prices. The Engle-Granger Error Correction Model was used to analyze time series data in this study. The research used the monthly period started from May 2013 until January 2022. The long-term results of the research variables that could influence the exchange rate, total money supply, world oil prices, and world gold prices were all dependent on the Indonesian Sharia Stock Index. Meanwhile, the factors that influence the short-term movement of the ISSI exchange rates were inflation, and the BI rate variables.
Co-Authors Annisa Nur Hidayah Daryono Soebagiyo Dhany Efita Sari Eni Setyowati Ibrahim Sorie Kamara Inda Fresti Puspitasari Maulidah IH Rafiq Azzam Al Afif