JEJAK
Vol 16, No 1 (2023): March 2023

Modelling Biodiesel Production of Banking Scheme With Spline Regression




Article Info

Publish Date
18 Mar 2023

Abstract

The portion of renewable energy, one of which is biodiesel production in Indonesia, still relatively low due several obstacles, such as the banking financing scheme. Therefore, this research was carried out by involving banking variables, including the banks, third parties fund and Gross Domestic Regional Product of each province to find the best model that affected the rate of biodiesel production in Indonesia. The Spline Regression method was employed here. Modelling the rate of biodiesel production was done by using the knots point method with the smallest GCV Value. Based on the findings, all variables had an influence with a coefficient of determination of 50%, meaning that the model formed was feasible to use in the modelling data patterns. Among these 3 variables, the variable banks had the best influence in determinang tha rate of biodoesel production in each province in Indonesia. In conclusion, the financing scheme from the banking side is an important thing to do considering that the more the number banks in a province, the greater the development potenstial of biodiesel production from each of these provinces.

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Journal Info

Abbrev

jejak

Publisher

Subject

Economics, Econometrics & Finance

Description

JEJAK: Jurnal Ekonomi dan Kebijakan p-ISSN 1979-715X | e-ISSN 2460-5123 is a scientific journal that contains the results of research and theoretical studies in the field of economic development, especially on matters of economic policy in Indonesia was published by the Department of Economic ...