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PENGELUARAN PEMERINTAH DAN PERKEMBANGAN PEREKONOMIAN (HUKUM WAGNER) DI NEGARA SEDANG BERKEMBANG: TINJAUAN SISTEMATIS Solikin, Akhmad
JURNAL INFO ARTHA Vol 2, No 1 (2018): JULY EDITION
Publisher : Polytechnic of State Finance STAN

Hubungan kausal antara pengeluaran pemerintah dengan perkembangan perekonomian dapat dikaji lewat dua pandangan, yaitu Hukum Wagner atau Hipotesis Keynes. Hukum Wagner memandang bahwa pengeluaran pemerintah merupakan dampak dari perkembangan ekonomi, sedangkan Hipotesis Keynes berpendapat bahwa pengeluaran pemerintah merupakan alat kebijakan fiskal untuk meningkatkan perekonomian. Dua pandangan tersebut secara akademis masih diperdebatkan, terbukti dengan banyak artikel ilmiah yang membahasnya. Sayangnya, simpulan dari penelitian tersebut berbeda bahkan bertentangan. Penelitian ini meninjau secara sistematis artikel-artikel yang mengkaji Hukum Wagner pada negara-negara sedang berkembang yang menggunakan data runtun waktu. Artikel ditinjau berdasarkan landasan teori, metode empiris, metode pengujian hubungan kausal, variabel yang ditambahkan selain PDB dan pengeluaran pemerintah, hasil pengujian, serta argumentasi signifikansi. Hasil tinjauan atas empat puluh artikel yang mencakup tujuh puluh dua negara menunjukkan bahwa temuan penelitian beragam, baik yang mendukung Hukum Wagner, Hipotesis Keynes, keduanya, atau tidak mendukung keduanya. Perbedaan hasil tersebut disebabkan karena perbedaan data, metode uji, serta variabel lain yang ditambahkan dalam model. Dengan hasil yang tidak konklusif tersebut, topik penelitian ini masih terbuka untuk diteliti lebih lanjut.

The Determinants of Sovereign Credit Ratings: Indonesia and Its Neighborhood Countries 1998-2016 Solikin, Akhmad; Michel, Gerry
Agregat: Jurnal Ekonomi dan Bisnis Vol 3 No 1 (2019): Maret
Publisher : Universitas Muhammadiyah Prof. DR HAMKA.

The aim of this research is to study the determinants of sovereign credit ratings of Indonesia andits neighborhood countries in the period of 1998-2016. Using secondary data and analyzed usingordered probit, it is found that every credit rating agency has its own variables influencing to itspublished credit ratings.In general, for Indonesia and its neighborhood countries, the variables withsignificant and positive relationship are fiscal balance and current account deficit to GDP, freedomindex, and GDP per capita; while the variables with significant and negative relationship are externaldebt to GNI and real exchange rate. Gross domestic savings to GDP influences credit ratings inboth ways. Interestingly, inflation does not affect the credit ratings. Indonesia and neighborhoodgovernments could use this information to manage their macroeconomic indicators in order to getfavorable ratings from credit rating agencies.

Micro and Macroeconomic Determinants of Indonesian Government"™s Bonds Liquidities in the Secondary Market (2012-2016) Soebagio, Yogie Kristianto; Solikin, Akhmad
Jurnal Ekonomi Bisnis dan Kewirausahaan Vol 8, No 2 (2019): Jurnal Ekonomi Bisnis dan Kewirausahaan (JEBIK)
Publisher : Fakultas Ekonomi dan Bisnis, UNTAN

Despite having registered the trade volume since 2005, Indonesia's bond market trading and liquidity level in the secondary market are still the lowest in Asia. Neighboring countries like the Philippines and Singapore started registering trading volume records in the same year as Indonesia has exceeded the liquidity level of the Indonesian market. This raises the question of what makes the rate of development in Indonesia's bond market not as fast as other countries in Asia. Therefore, this article aims to analyze the determinants of liquidity in the secondary market of Indonesian bonds, especially government bonds. In the case of Indonesia, research on government liquidity is still limited. Various studies have been conducted to determine the factors affecting liquidity and also the method to calculate them but mostly focus on private bonds. This research uses the level of liquidity of bonds based on turnover ratio as a dependent variable and variable of maturity rate, coupon rate, exchange rate, stock price index, and lending rate as independent variables. The method used is multiple linear regression. The results show that the liquidity of 10-years benchmark government bonds in Indonesia is significantly influenced by the coupon rate and lending rate positively but influenced by the exchange rate and stock price index negatively. These results indicate that liquidity is influenced by macroeconomic variables. Thus, the Indonesian government should monitor macroeconomic indicators closely and change policy related to its bonds accordingly.

MEKANISME PELAKSANAAN ANGGARAN KEGIATAN REHABILITASI DAN REKONSTRUKSI PASCABENCANA DI KABUPATEN PURWOREJO Afiifah Eka Prastiyani; Akhmad Solikin
JURNAL BISNIS & AKUNTANSI UNSURYA Vol 7, No 1 (2022): JURNAL BISNIS & AKUNTANSI UNSURYA
Publisher : JURNAL BISNIS & AKUNTANSI UNSURYA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35968/.v7i1.858

Indonesia merupakan negara yang rawan terkena bencana alam. Di Provinsi Jawa Tengah, Kabupaten Purworejo merupakan daerah dengan risiko tinggi terkena bencana, khususnya bencana banjir dan tanah longsor. Penelitian ini bertujuan untuk menelaah mekanisme pelaksanaan anggaran kegiatan rehabilitasi dan rekonstruksi yang dilakukan oleh Badan Penanggulangan Bencana Daerah Kabupaten Purworejo pada tahun 2017. Kegiatan tersebut penting didokumentasikan agar praktik pelaksanaan anggaran yang baik dapat dilaksanakan juga di daerah-daerah lain, khususnya rehabilitasi dan rekonstruksi yang didanai dari bantuan sosial berpola hibah dari pemerintah pusat. Penelitian ini menggunakan data sekunder, hasil pengamatan dan wawancara. Hasil penelitian menunjukkan bahwa pelaksanaan dan pertanggungjawaban anggaran pada kegiatan rehabilitasi dan rekonstruksi tersebut telah sesuai dengan ketentuan yang berlaku serta menggunakan dokumen-dokumen yang lengkap, kecuali terdapat kekurangan pada penyerahan aset setelah kegiatan selesai dilakukan. Kata Kunci: Bantuan Sosial, Pelaksanaan Anggaran, Penanggulangan Bencana, Pascabencana, Rehabilitasi, Rekonstruksi

PERAN SEKTOR INDUSTRI PENGOLAHAN DALAM PEREKONOMIAN EMPAT PROVINSI DI PULAU JAWA Akhmad Solikin
Eqien - Jurnal Ekonomi dan Bisnis Vol 9 No 2 (2022): EQIEN - JURNAL EKONOMI DAN BISNIS
Publisher : Sekolah Tinggi Ilmu Ekonomi Dr Kh Ez Mutaqien

Manufacturing sector is substantial for economic development in terms of economic growth, value added, export, and employment. This article investigates and compares manufacturing sectors’ roles on economies in four provinces in Java Island, Indonesia, i.e. the Province of Banten, Jawa Barat, Jawa Tengah and Jawa Timur. This article used secondary data in terms of Input Output Table in general and backward linkage effect ratio and forward linkage effect ratio in particular. By doing so, the article discusses leading sectors in manufacturing subsectors. The Input Output Tables were published by BPS in 2021 which represents 2016 data. The results show that five manufacturing industries play significant roles as leading sectors, i.e. food and beverages, textile and garments, paper and printing, chemical and pharmacy, and rubber and plastic. In contrast, tobacco processing, coal and oil refinery, and base metal are three manufacturing subsector which are not included in key sectors in majority of provinces. In general, more manufacturing sectors have stronger backward linkage effects ratio rather than forward linkage effects ratio. The provincial governments could use information about leading sectors in development planning, such as Medium-Term Development Planning (RPJMD) in quest to achieve more sustainable developments.

The Determinants of Sovereign Credit Ratings: Indonesia and Its Neighborhood Countries 1998-2016 Akhmad Solikin; Gerry Michel
Agregat: Jurnal Ekonomi dan Bisnis Vol. 3 No. 1 (2019): Maret
Publisher : Universitas Muhammadiyah Prof. DR HAMKA.

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (337.931 KB)

The aim of this research is to study the determinants of sovereign credit ratings of Indonesia andits neighborhood countries in the period of 1998-2016. Using secondary data and analyzed usingordered probit, it is found that every credit rating agency has its own variables influencing to itspublished credit ratings.In general, for Indonesia and its neighborhood countries, the variables withsignificant and positive relationship are fiscal balance and current account deficit to GDP, freedomindex, and GDP per capita; while the variables with significant and negative relationship are externaldebt to GNI and real exchange rate. Gross domestic savings to GDP influences credit ratings inboth ways. Interestingly, inflation does not affect the credit ratings. Indonesia and neighborhoodgovernments could use this information to manage their macroeconomic indicators in order to getfavorable ratings from credit rating agencies.

WHO GAINS FROM SOCIAL ASSISTANCES? RASTRA, PIP, AND PKH PROGRAMS IN INDONESIA Abrian Duta Firmansyah; Akhmad Solikin
Jurnal BPPK : Badan Pendidikan dan Pelatihan Keuangan Vol 12 No 1 (2019): Jurnal BPPK
Publisher : Badan Pendidikan dan Pelatihan Keuangan - Kementerian Keuangan Republik Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.48108/jurnalbppk.v12i1.372

Social assistance is one of government’s strategies in alleviating poverty and reducing inequality. This article analyses impact of social assistances in terms of Prosperous Rice (Beras Sejahtera, Rastra), Indonesia Intelligent Program (Program Indonesia Pintar, PIP), and Family Hope Program (Program Keluarga Harapan, PKH) on poverty and inequality, and problems related to implementation of these programs. Impact analysis was carried out using the benefit incidence analysis by using household surveys (Susenas) data March 2017, while problems in the fields were collected from literature and mass media analyses. The results indicate that social assistances in Indonesia impacted on alleviating poverty and reducing inequality, as well as absolute progressive in nature. Rastra is the most able to reduce poverty and equality compared to PKH and PIP. However, further improvements are needed to overcome the leakage in the distribution of social assistances. Literature and mass media reviews showed that data on recipients of social assistances were not up to date and disbursement of assistances violated existing regulations.

VILLAGE FUNDS, BUSINESS MODEL PREFERENCE, PARTICIPATORY APPROACH AND ELITE CAPTURE IN TWO VILLAGE-OWNED ENTERPRISES IN BOGOR REGENCY Andykha David Novri Sitanggang; Akhmad Solikin
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 6, No 1 (2022): IJEBAR
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v5i4.4476

One manifestation of village community empowerment is the establishment of village-owned enterprises (Badan Usaha Milik Desa, BUMDesa). This study seeks to illustrate whether village funds dominate capital structure, how village head and villagers select business preferences, and whether elite capture phenomena probably occur in two BUMDesa in Bogor Regency. The results of the study show that village funds and government funding still remain the main source of BUMDesa's capital. In the selection of business sectors, one BUMDesa has adhered to a participatory principle while other BUMDesa still depends on the initiative of the village bureaucrats. The elite capture phenomenon possibly occurred at the implementation stage in one BUMDesa, as well as the planning stage at the other BUMDesa There has been no indication of elite capture in reporting and accountability aspect of these two BUMDesa.

THE INFLUENCE OF CAPITAL EFFICIENCY AND EDUCATION SPENDING ON INDONESIA’S ECONOMIC GROWTH Innes Clara Shinta; Akhmad Solikin
International Journal of Economics, Business and Accounting Research (IJEBAR) Vol 6, No 2 (2022): IJEBAR, VOL. 06 ISSUE 02, JUNE 2022
Publisher : LPPM ITB AAS INDONESIA (d.h STIE AAS Surakarta)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/ijebar.v6i2.4922

The efficiency of translating capital toward economic growth has been contested in Indonesia, especially when the economic policies could not achieve economic growth targets. In addition, budget allocation for education sector as a human capital investment is substantial and needs to be assessed its the impact on the economic growth. This research examines relationship between capital efficiency measured by the incremental capital output ratio (ICOR) and education spending on economic growth using 2015 to 2019 data for 34 provinces in Indonesia. Analyses were performed using Pearson correlation and panel data regression. The results show that ICOR has a negative correlation with economic growth for majority of provinces. Regression results show that ICOR negatively affects economic growth, while education spending positively affects economic growth, as expected by theory. The results suggest that the government policy to induce economic growth can be achieved by reducing the value of ICOR as well as to allocate the education spending.

Kesinambungan fiskal dan estimasi fiscal reaction function Indonesia tahun 1977-2017 Akhmad Solikin; Hilda Choirunnisah
Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara dan Kebijakan Publik Vol 4 No 3 (2019): Indonesian Treasury Review: Jurnal Perbendaharaan, Keuangan Negara, dan Kebijakan
Publisher : Direktorat Jenderal Perbendaharaan, Kementerian Keuangan

This study aims to identify whether Indonesian fiscal condition in 1977–2017 is sustainable as measured by the government responses to debt burden. Studi on fiscal sustainability is very important since failing to identify its occurrence and determinants will detrimental to fiscal and macroeconomic policy. This study uses Auto-Regressive Distributed Lag – Error Correction Mechanism (ARDL-ECM) to estimate short-term and long-term fiscal reaction functions. The result shows that in the long-term the government responds an increase in debt burden by increasing its primary balance and thus it confirms the existence of fiscal sustainability. Furthermore, by estimating fiscal reaction function this study finds that in the long run exchange rate and Asian Financial Crisis in 1998 have significant effects on primary balance; while in the short run real exchange rates, 1998 economic crisis, and commodity prices affect the primary balance.

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