JEJAK
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 Development, Faculty of Economics, Semarang State University and Indonesian Economics Bachelor Society.
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Dynamic Forecasting of Government Foreign Debt: Case of Indonesia
Yozi Aulia Rahman;
Amin Pujiati
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.29715
This study aims to forecast the value of the Indonesian government foreign debt in 2020-2024. The secondary data of time series during the period of 2010-2019 on Indonesian government foreign debt are used as the basis of forecasting for the next five years by using ARIMA (Autogressive Integrated Moving Average). The results show that the selected ARIMA models for forecasting are ARIMA (3,1,3) after the unit root test is carried out and 16 ARIMA models are tested. The value of government foreign debt is predicted to keep increasing from 2020 to 2024 amounted to USD 253.01. Then, compared to government debt in January 2010, within 11 years, government foreign debt is predicted to rise by 169.6%.
Asymmetrical Exchange Rates Effect on Indonesia's Trade Balance in Tourism
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.27234
The main objective of this research is to analyze the effect of depreciation and real exchange rate appreciation on Indonesia's tourism trade balance bilaterally against Australia, China, Japan, Malaysia, and Singapore. Such analysis on bilateral relations have never been studied for developing markets countries, namely Indonesia. This study uses a linear ARDL approach and a nonlinear ARDL approach with the dependent variable on the tourism trade balance and the real exchange rate as independent variables. Income, foreign direct investment (FDI), and natural disasters as control variables. The empirical results show that Chinese and Japanese tourists respond positively to the depreciation in the real currency rate of exchange, thereby increasing Indonesia's tourism trade balance. Nonlinear ARDL shows that the relation concerning the real rate of exchange plus the balance of trade is non-symmetrical with respect to China and Japan, while Australia, Malaysia, and Singapore are symmetrical. These results suggest that the government should formulate policies to increase tourist visits from China and Japan. Further empirical results also found a J-curve pattern in Indonesia-China and Indonesia-Japan.
Strategy to Improve The Competitiveness of Cooperatives
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.25420
This research purposes is to analyze cooperative’s strategy to improve its competitiveness based on information technology utilization. This research employs a quantitative descriptive approach, analysis on cooperative competitiveness with Policy Analysis Matrix (PAM) in consideration of input and output. Cooperative’s business development strategy employs an analytic hierarchy process (AHP). The analysis is conducted on active cooperatives with open data system (ODS) in Central Java Province. 64.82% of all cooperatives have utilized information technology in their business operation and 35.18% of all cooperatives have not utilized information technology in their business operation; Result of the Policy Analysis Matrix (PAM) using the Domestic Resources Cost Ratio (DRC) = 0.240 This Condition shows that the cooperatives business is efficient and has comparative advatage. Private Cost Ratio (PCR) = 0.229, means the cooperative has been able to use its domestic use the actual price and has competitive advantage. Cooperative has comparative advantage and competitive advantage competitiveness. The results of AHP analysis with five development criteria show that the information technology criterion is the most prioritized criterion with weight value of 0.365; the capital criterion’s weight value is 0.218; the human resource criterion’s weight value is 0.195; the network criterion’s weight value is 0.164, and the marketing criterion’s weight value is 0.058. The cooperative competitiveness standard does not include export variable, thus further research needs to be conducted with different measuring tool from that of this research.
Analysis of the Sustainability of MSMEs in the Covid-19 Pandemic Era
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.26342
Micro, Small and Medium Enterprises (MSMEs) have an important role in the economy of a nation. The aim of research was to know the factors that can increase and effect on increasing of the competitiveness of MSMEs. To achieve this goal, a study was conducted on MSMEs in Regency and Serang City through a population of 26,909. Survey method was used to achieve this goal, while the sampling technique was simple random sampling. Based on this technique, a total sample size of 100 MSMEs was obtained, while the analysis in achieving the objectives used path analysis. The results showed that the innovation variables and the quality of human resources had an effect on the competitiveness of MSMEs. The variable which is significant and affects the competitiveness of MSMEs is the variable of human resources. Theoretically, human resources have a more important role in increasing the competitiveness of MSMEs compared to innovation
MAWAR (Melawan Rentenir): Integrated MSMEs Financial Inclusion Strategy In Sharia-Based
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.24850
Allah has provided Islam as life guidance to be used in taking and undergoing all life aspects, including of the management and business financing. In the perspective of Islamic finance, financing venture capital through moneylenders will makes the borrower in difficult situation. This research aims to analyze the integrated financial inclusion strategy in sharia-based MSMEs financing in the Semarang City with the MAWAR Program. Mawar program is a funding assistance program for potential micro small and medium entrepreneurs based on sharia with Murabahah by collaborating through memorandum of understanding with several other agencies, such as Sharia People Financing banks, Semarang City Amil Zakat Agency, Semarang Syariah Economic Community, Semarang City Cooperatives and Micro Enterprises Agency, telecommunications companies, branchless banking agents and financial technology institutions. The benefit obtained can provide scientific contributions to the empowerment management and can be developed into a study material for long-term planning programs by the Semarang City Government in empowering micro, small and medium enterprises so they can be competitive, independent, prosperous, and cultured based on religiosity values. The approach method used qualitative research with analytical tools is the business model canvas. Data collection method used observation, interviews, and literature study. The results of this research are with the MAWAR Program, the Semarang City Government does not charge any additional costs to the borrowers (MSMEs). The legal basis of this program is based on a memorandum of understanding between the stakeholders involved and Islamic sharia
Bank Branch Closure Assessment Using DEA
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.27752
The downward trend in the number of commercial bank offices is driven by the bank's efforts to shift banking transactions from physical branch to digital channels in order to improve efficiency. In prioritizing the branch closure, bank needs to define the appropriate method used in the analysis. This case study is intended to identify the parameter to determine the prioritization of bank branch office closure. This study uses a non-parametric approach of Data Envelopment Analysis (DEA) to examine the efficiency and productivity change of branch offices at one of the large bank in Indonesia. The one-stage DEA was used to generate the relative efficiency score, and the input-oriented Variable Return to Scale (VRS) assumption is adopted in data analysis based on the production approach. The Malmquist Productivity Index was also adopted to measure the total factor productivity change. The DEA result shows that a number of closed branches in 2019 and 2020 were actually considered efficient, with increasing productivity, compared to many other inefficient branches. The efficiency and productivity score can be further used by the bank’s management to evaluate the upcoming branch closure as well as the overall branches efficiency.
Impact of Military Expenditure on Economic Growth Encouraging or Constraining?
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.26062
Security is a form of guarantee that needs to be given by the state to its citizens. This fulfillment can be realized through the provision of national defense for all citizens. Nevertheless, military expenditure as a source of providing national defense needs attention. This is caused by its unproductive nature when compared to other sectors such as agriculture, banking, industry, and others. This study aims to analyze the effect of Military Expenditures on the level of Economic Growth. Furthermore, this study also analyzes the effect of interactions between Military Expenditure with other variables such as Population, Foreign Direct Investment (FDI), Political Stability, and Rule of Law, to see their indirect effects on Economic Growth. This study uses secondary data and covering 27 selected Lower-Middle Income Countries from 2002-2018. Furthermore, this study uses dynamic panel data analysis with the System Generalized Method of Moments (GMM) method. The Military Expenditure in this study does not significantly influence Economic Growth. However, it was found that Military Expenditure had a positive and significant influence on Economic Growth when interacting with other variables.
Spatial Patterns, Opportunities and Determinants of MSMEs Employment in Township
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.26406
Research is divided into three sections that contribute to analyse the optimization of employment on large productive population in Magelang, First, to identify the spatial pattern and concentration based on MSME’s sector by considering comparative benefits. Secondly, to analyse the opportunity in its association with employments in MSMEs. Thirdly, the determinants of employment in MSMEs based on the field of industry, trading and service. This research employs quantitative approach by using Location Quotient and Economic Base Model as analysis for local and regional economic, as well as multiple linier regression analysis. The research indicates that each area demonstrates distinctive spatial pattern and concentration, in terms of industrial sector, trading and service. The opportunity for employment could be notified from basic employment and basic multiplier that exist in each area. There are certain areas that have high potential in new employments once the jobs are available in the sector of industry, trading and service. The determinants of employment of above three sectors have distinctive behaviour in responding the addition of new MSMEs and the addition of revenue. Hence, the appropriate stimulus could be formulated to optimize absorption of productive labour population based on the findings.
Determinant of Macro-Economics: Does Income Inequality Influence Happiness? Evidence From Indonesia
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.28278
This research aims to see does income inequality determines the happiness of Indonesian. This is important because there is a unique condition where Indonesia to be one of the developing nations which have a complexity of the income inequality issue, but it still has a high happiness index rate. This research uses cross-sectional data consisting of multiple indicators of all the variables from 34 provinces of Indonesia such as inflation, unemployment, and government investment as the macroeconomic factors, which have a direct impact on income inequality as well as happiness index, and this research uses path analysis model.The result delineates that although macro economics variables and income inequality have negative correlation toward happiness of Indonesian, it it not fully effected on it because most happiness of Indonesians are coming from another aspect such as socio-culture and religiosity
Characteristics Affecting Creative Business Income of Leading Subsector Economies in Java
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 14, No 1 (2021): March 2021
Publisher : Universitas Negeri Semarang
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DOI: 10.15294/jejak.v14i1.28717
This study aimed to fill the literature gap on companies’ characteristics, focusing on the effects of entrepreneurs and business characteristics on the companies’ income. The companies chosen are the ones in the leading subsector, particularly the case in Java. This study also analyzed which characteristics of entrepreneurs and businesses affected income in the creative industry. The method used in this study was multiple linear regression and standardized beta test, with cross-sectional data taken from the specific survey in creative economy issued by BPS and BEKRAF in 2016. The unit of analysis comprises 822 companies in the leading subsector of the creative industry in Java. The results showed that all of the characteristics of entrepreneurs and businesses had significant and positive effects on the company’s income. The factors that affected company income are Intellectual Property Rights (IPR) ownerships and the business’s legal status. The primary factor affecting the income was the number of workers. Meanwhile, for each provincial level in Java, it showed that the number of workers, internet use, and the ownerships of IPR had significant and positive effects, while the IPR ownerships had a substantial magnitude in four provincial levels in Java.