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Understanding rice price formation in Central Java: Interactions between market forces, food security, and climate anomalies Rachman, M Aulia
Journal of Economics Research and Policy Studies Vol. 5 No. 1 (2025): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v5i1.1826

Abstract

This study analyzes the complex factors influencing rice prices in Central Java, Indonesia, during 2018-2024 using panel data analysis. The findings reveal that while cooking oil and sugar prices generally exhibit a positive influence on rice prices via consumption spillovers, the effect of cooking oil became negative in 2021-2024. Domestic rice production significantly depresses prices, whereas food consumption expenditure shows a positive correlation. The Regional Food Security Index (FSI) negatively correlates with rice prices, and the disparity related to the government's Maximum/Highest Retail Price (HET) ratio is positively correlated. Notably, El NiƱo 3.4 index anomalies consistently drive rice prices upward, highlighting climate vulnerability. Policy implications emphasize integrated interventions encompassing inflation control, production stabilization, food security enhancement, HET evaluation, and climate change mitigation. Additionally, it recommends stronger institutional coordination in rice price and supply chain management.
Islamic banking and capital market performance in Indonesia, the lesson from pandemic Covid-19 Rachman, M Aulia; Budiantoro, Risanda A
Indonesian Journal of Islamic Economics Research Vol. 6 No. 1 (2024)
Publisher : Faculty of Islamic Economics and Business UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/ijier.v5i1.1037

Abstract

The Covid-19 pandemic caused panic on global financial markets and had an impact on a global recession. This research will examine the impact of Pandemic Covid-19 on the Performance of the Islamic Banking and Stock Market in Indonesia. The purpose of this study is to determine the different impacts of Islamic banking and the Islamic stock market in the long and short-term using the Autoregressive Distributed Lag (ARDL) method and using monthly data from January 2017 to December 2022. The results show that new cases of the Covid-19 pandemic actually have a positive impact on Islamic banking performance but not for stock market. Our findings have counter-estimations from several previous studies, therefore it may provide a new hypothesis of the performance of Islamic banking in Indonesia.