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INDONESIA
JEJAK
ISSN : 1979715X     EISSN : 24605123     DOI : -
Core Subject : Economy,
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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Articles 860 Documents
The Affirmation Special Allocation Fund and Regional Economic in Indonesia
JEJAK Vol 13, No 2 (2020): September 2020
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v13i2.25990

Abstract

Starting 2015, Government of Indonesia introduced Affirmation Special Allocation Fund (DAK). Affirmation DAK is expected to fund infrastructure, accessibility and improvement of basic services, as well as aiming to accelerate development in disadvantaged areas, border areas, outer islands, and transmigration areas. These targeted regions on average have low GRDP per capita. The purpose of this study is to determine the effect of Affirmation DAK on the regional economy in Indonesia. The existence of Affirmation DAK is expected to support equal distribution of basic infrastructure and services and accelerate development in Affirmation DAK receiving area which is a region with characteristics of disadvantaged areas, border areas, outermost islands and transmigration areas. This study uses panel data of 491 regencies/municipalities in 2011-2018  and using the fixed effect estimation method. Empirical results show that Affirmation DAK has not had a positive effect on GRDP per capita. Limiting estimation only to Affirmation DAK recipient regions, there is also no positive association between Affirmation DAK and GRDP per capita. The results of this study also show that the impact of Affirmation DAK is very small on the recipient area, implying that Affirmation DAK in its current form and existing pool fund size, has not yet an effective policy for regions exiting from “the lagging regions trap”. It is instead, still, revenue sharing and general allocation fund (DAU), that have consistent positive effect on regional economic growth, both are block grants that to an extent related to more discretionary to local governments in terms of use of fund.
Impacts of Government and Household Expenditure on Human Development Index
JEJAK Vol 10, No 2 (2017): September 2017
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v10i2.11305

Abstract

The objective of this reseach are to: (1) analyze the factors affecting human development index and household expenditures for health, education and others, (2) predict the impacts of government expenditure policy in the field of education, health, and infrastructure on human development index in Central Java.  The model was built using econometric approach in the form of a system of simultaneous equations, including five blocks i.e. government's revenue, expenditures, input, output, and performance. The system of simultaneous equations consisted of 26 equations (19 structural equations and 7 identity equations). The estimation method used Two Stage Least Squares with SYSLIN procedure. Prediction simulation used the stepwise Autoregressive method. The model simulation used Newton's method and SIMNLIN procedure. The results of policy simulation concludes that the combination of the increase in government expenditure for education and infrastructure lead to better performance in increasing income per capita, disposable income and HDI compared to the combination of the policy of the increase in government expenditure for education and in both municipalities and district, but municipalities receive greatest impact compared to the district.
The Role of Networking in the Internationalization of Indonesian SMEs
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 12, No 2 (2019): September 2019
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v12i2.21821

Abstract

Indonesian SMEs are less able to take advantage of foreign market opportunities than their large counterparts. This study analyses the internationalization of Indonesian SMEs, particularly the differences between exporting and non-exporting SMEs in terms of their network relationships. Primary data was obtained from survey questionnaires in Jawa, Madura and Bali regions, yielding usable responses from 271 exporting SMEs and 226 non-exporting SMEs. Our results suggest that exporters on average have twice as many frequencies of interaction with various external actors than those of their non-exporting counterparts. Exporting and non-exporting SMEs also differ in the way they interact and maintain relationships with external actors. The exporting SMEs utilize various types of interactions including regular and irregular, as well as formal and informal ones, with various external actors in the network. In contrast, non-exporting SMEs are more dependent on personal relations with key persons in various governmental and private institutions. The policy and managerial implications of the findings are discussed.
PENGARUH INDIKATOR UTAMA PERBANKAN TERHADAP PANGSA PASAR PERBANKAN SYARIAH
JEJAK Vol 8, No 1 (2015): March 2015
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v8i1.3850

Abstract

This study is about syariah banking. The secondary data, obtained from the published reports of Bank Indonesia (BI) was used. It consists of Islamic Banking Statistics (SPS) and the Progress Report on Islamic Banking (LPPS). The analytical methods used were multiple linear regression, F test and t test. Based on the calculation of F test, deposit indicators - ROA, NPF, FDR, and the ratio jointly influence the market share of Islamic banking in Indonesia.  Further, based on t test that had been done,  the variable deposits, ROA, NPF and the ratio have a significant effect, while the FDR variables have no significant effect to the market share of Islamic banking in Indonesia. Then, DPK variables, ROA, and FDR have a positive effect while the NPF and the ratio have  a negative effect on the market share of Islamic banking in Indonesia. From the analysis, it can be implied that the bank should increase deposits and ROA because they will have an effect on increasing the market share of Islamic banking in Indonesia; and the NPF and the bank should lower the ratio because they will reduce the market share of Islamic banking in Indonesia.  Penelitian ini mengenai perbankan syariah. Data pada penelitian ini adalah data sekunder dan diperoleh dari laporan bank Indonesia yang dipublikasikan. Data-data tersebut terdiri dari  Statistik Perbankan Syariah (SPS) and Laporan Perkembangan Perbankan Syariah (LPPS). Metode analitik yang digunakan adalah multiple linear regression, F test dan t test. Berdasarkan perhitungan F tes, bisa dikatakan bahwa indikator-indikator seperti  ROA, NPF, FDR, dan nisbah secara bersama-sama mempengaruhi pangsa pasar perbankan Islam di Indonesia. Sedangkan berdasarkan t tes yang sudah dilakukan, deposit variabel termasuk di dalamnya adalah ROA, NPF dan nisbah mempunyai efek yang signifikan sedangkan variabel FDR tidak berpengaruh signifikan terhadap pangsa pasar perbankan Islam di indonesia. Kemudian, variabel DPK, ROA, dan FDR mempunyai pengaruh positif  sedangkan NPF dan nisbah berpengaruh negatif terhadap pangsa pasar perbankan Islam di Indonesia. Berdasarkan analisis yang dilakukan, bisa disimpulkan bahwa bank seharusnya meningkatkan deposits dan ROA karena berefek pada peningkatan pada pangsa pasar perbankan Islam di Indonesia kemudian NPF dan bank seharusnya menurunkan nisbah karena akan menurunkan pangsa pasar perbankan Islam di Indonesia. 
Liquidity Effects on the Simultaneity of Trading Volume and Order Imbalance
JEJAK Vol 9, No 2 (2016): September 2016
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v9i2.7624

Abstract

The purpose of this research is to analyze the simultaneity between trading volume and order imbalance, the influence of past performance, market risk, market capitalization, tick size to the trading volume and the influence of tick size, depth and bid-ask spread to the order imbalance of companies that were listed on LQ 45 index. The samples in this research were selected by using the purposive sampling method with some selected criteria. Fifty-five companies listed on 2014’s LQ 45 index were chosen as the sample. The results showed that the trading volume is simultaneously related to the order imbalance; past performance, market risk, and market capitalization have the positive and significant effect to the trading volume; tick size has the negative and significant effect to the trading volume; the order imbalance has the negative and insignificant effect to the trading volume; tick size, depth, bid-ask spread, and trading volume have no significant effect to the order imbalance.
Monetary Policy, Foreign Interest Rate impact on Indonesian Bank Credit
JEJAK Vol 11, No 2 (2018): September 2018
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v11i2.16056

Abstract

This study adds to the economic knowledge by presenting proof based on data for Indonesia, on the consequence to credit provided by domestic banks, due to changes of monetary policy and foreign rates of interest. The subject matter is important for Indonesia because about 88 percent of its overall financing to the private sector in Indonesia are provided by domestic banks through credit channels. Consequently fluctuations of bank credit have significant impact on Indonesia’s financial system’s stability. Applying the Structural VAR method, the current study found that credit channeled by domestic banks in Indonesia are influenced by both rates of interest from abroad and the policy stance of Bank Indonesia. In addition it is found that foreign rates of interest effects bank credit negatively, but turns positive after 12 months. While a monetary contractionary monetary stance by Bank Indonesia decreases the quantity of credit provided by banks. These results underscores the limitation of monetary policy in managing bank credit growth. This results also underlines the need of Bank Indonesia to take into account the impact of foreign interest rates in conducting macro-prudential policies in overseeing credit growth to promote financial stability in Indonesia.
Assessing Sharia Monetary Instruments Against Country Economic Growth
JEJAK Vol 13, No 2 (2020): September 2020
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v13i2.23754

Abstract

This study aims to examine the effect of Islamic monetary instruments on Indonesia's economic growth. Statutory Reserves, Bank Indonesia Syariah Certificate (SBIS) and Outstanding Deposit Facility Syariah (FASBIS) are used as sharia monetr instrument variables in observations. this study is a quantitative study using monthly time series data obtained from the publication of Bank Indonesia and the Indonesian statistical agency in 2015-2019 using ARDL analysis. The results of this study indicate that both short-term and long-term modeling, instrument variables Islamic monetary does not have a significant relationship on economic growth. Although it has a very small effect, the Demand Deposits variable has an effect on the Indonesian economy, while the other variables observed have an inverse relationship with the variable of Indonesia's economic growth. the achievement of monetary stability through sharia monetary instruments can be optimized using policies on the minimum statutory reserves in banks that are useful for controlling the circulation of the amount of money in society so that it is more stable and the Indonesian economy can grow through the middle income trap.
Strategy of Export Competitiveness Enhancement on Cashew Nut Commodity
JEJAK Vol 10, No 2 (2017): September 2017
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v10i2.11295

Abstract

Plantation is one of sub sector in agriculture with strategic role and contribution in the Indonesian economic. One of those commodities is cashew nuts. This research aimed to analyze competitiveness of cashew nuts in the international market, to identify factors affecting cashew nuts competitiveness, and to formulate strategy in enhancing cashew nuts competitiveness. The research method used was RCA, ISP, ECI and SWOT. Research result showed that RCA value showed that Indonesian cashew nuts is comparative disadvantage, but Indonesia is as exporter by seeing ISP value, and market share of Indonesian cashew nuts based on ECI value. However Indonesia tends to be exporter country and have good market share. Strategy of export competitiveness on cashew nuts can be applied by extending trade cooperation by joining and taking active role in the world trade organization, increasing cashew nuts productivity and socialization of information about international market of cashew nuts about international market of cashew nuts, exporting procedures, cashew nuts export, import policies, and other rules related to transaction of cashew nuts export-import to all stakeholders.
EFISIENSI PERBANKAN SYARIAH DI INDONESIA
JEJAK Vol 7, No 2 (2014): September 2014
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v7i2.3895

Abstract

This research aims to find out the factors that can cause the efficiency value difference of Islamic Banking in In-donesia. The data at this research is monetary data of Islamic Banking. It was obtained from Bank of Indonesia. Then, it was divided into input and output variables. The determination of input output variables at this research uses Value Added Approach. Its input output variables consist of Demand Deposits, Saving Deposits, Time Depo-sits, Paid -In Capital, Placement at Bank ofIndonesia, Inter Bank Assets, Mudharabah, Musyara kah, Murabahah, Istishna, Ijarahand Qardh. This research used Data Envelopment Analysis method. This method has a strength that is having the capability to measure inefficiency input output variables, so that, the variable can have the efficiency. This research has resulted Islamic Banking efficiency in Indonesia, but it does not include BPRS. The mean efficiency of Islamic banking in Indonesia is 99,94%. Penelitian ini bertujuan mencari faktor –faktor penyebab perbedaan nilai efisiensiperbankan syariah di Indo-nesia yang dibandingkan secara relatif untuk setiap periode. Data yang digunakan pada penelitian ini menggu-nakan data keuangan perbankan syariah yang diperoleh dari Bank Indonesia kemudian dibagi menjadi variabel input dan output. Penentuan variabel input dan output pada penelitian ini menggunakan pendekatan Value Added Approach. Variabel input outputnyaterdiri dari : Giro iB, Tabungan iB, Deposito iB, Modal disetor, Pen-empatan padaBank Indonesia, Penempatan pada bank lain, Mudharabah, Musyarakah, Murabahah,Istishna, Ijarah dan Qardh. Pada penelitian ini menggunakan metode Data Envelopment Analysis yang mempunyai kel-ebihan dalam menghitung efisiensi untuk setiap variabel input outputyang mengalami inefisiensi. Penelitian ini menghasilkan nilai efisiensi perbankan syariah di Indoenesia (tidak termasuk BPRS). Efisiensi perbankan syariah di Indonesia mengalami efisiensi rata-rata sebesar 99,94%.
MODAL MANUSIA DAN PRODUKTIVITAS
JEJAK Vol 7, No 1 (2014): March 2014
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v7i1.3840

Abstract

Modal manusia dianggap sebagai salah satu faktor penentu produktivitas. Modal manusia merupakan dimensi kualitatif dari sumberdaya manusia, seperti keahlian dan keterampilan, yang akan memengaruhi kemampuan produktif manusia tersebut. Dimensi kualitatif tersebut diperoleh melalui pendidikan, pelatihan dan kesehatan. Penelitian ini bertujuan untuk menganaliss efek dari modal manusia terhadap tingkat produktivitas di provinsi-provinsi di Indonesia. Dalam penelitian ini, tingkat pendidikan diukur dengan beberapa indikator, yaitu; angka melek huruf dan angka partisipasi murni tingkat SD, SMP maupun SMA. Tingkat kesehatan diukur dengan angka kematian bayi. Data yang digunakan adalah data panel dari 25 provinsi di Indonesia selama perioede 1996-2010 yang dianalisis dengan menggunakan Model Panel Data Fixed Effect. Hasil analisis menunjukkan bahwa modal manusia yang diukur dari tingkat pendidikan (APM) dan tingkat kesehatan (AKB) merupakan faktor yang berpengaruh dan signifikan untuk menjelaskan variasi produktivitas meskipun magnitude-nya lebih kecil dibandingkan dengan modal fisik. Hasil analisis juga menunjukkan bahwa variabel pendidikan memiliki magnitude yang lebih besar dibandingkan dengan variabel kesehatan. Human capital is regarded as one of the determining factors of productivity. Human capital is qualitative dimension of human resource which includes skills and knowledge. These qualitative dimensions are internalized through education, training and health. This study aimed to analyze the effect of human capital on productivity level across provinces in Indonesia. In this study, the level of education was measured by literacy and school enrollment rate (in primary, secondary and high school). The level of health was measured by infant mortality rate. The study employed a panel data of 25 provinces in Indonesia during the period of 1996-2010. Using fixed effect method, the result showed that secondary school enrollment rate and infant mortality rate are significant to explain the variation of productivity, albeit in smaller magnitude comparing to physical capital. The result also showed that the magnitude of education variable is higher than that of health variable. 

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