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Economic Journal of Emerging Markets
ISSN : 20863128     EISSN : 2502180x     DOI : -
Core Subject : Economy,
The Economic Journal of Emerging Markets (EJEM) is a peer-reviewed journal which provides a forum for scientific works pertaining to emerging market economies. Published every April and October, this journal welcomes original research papers on all aspects of economic development issues. The journal is fully open access for scholarly readers.
Arjuna Subject : -
Articles 589 Documents
Analisis Permintaan Impor Indonesia: Pendekatan Komponen Pengeluaran Agus Widarjono
Economic Journal of Emerging Markets Vol. 9 No. 2 (2004)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v9i2.618

Abstract

This study analyzes Indonesian aggregate imports by using expenditure components approach since Indonesian Economy relies highly on import. The relationship between ag¬gregate imports and the component of final demand expenditure namely public and private consumption expenditure, investment expenditure and export is investigated because the dif¬ferent components of final demand expenditure have different import contents. In addition, the model also includes price of import as a determinant demand for import.Johansen Multivariate co integration is proposed to analyze the import behavior in the long run. To examine response of import to its determinants in the short run, an error correction model is applied. Quarterly data during 1990.1-2003.2 are used for the analysis. The results demonstrate both the components of final demand expenditure and price of im¬port are all important factor in determining aggregate demand for imports not only in the long run but also in the short run.Keywords: Demand for imports, Components of final demand expenditure, Cointegration, Error Correction Model.
INFRASTRUCTURE, ECONOMIC GROWTH AND INEQUALITY IN INDONESIA LAND BORDERS Bayu Agung Prasetyo; Dominicus Savio Priyarsono; Sri Mulatsih
Economic Journal of Emerging Markets Volume 5 Issue 2, 2013
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol5.iss2.art3

Abstract

AbstractThe purpose of this study is to analyze the impacts of infrastructure on economic growth and inequality in Indonesia land borders. Using static panel data regression and panel two stage least square (2SLS) estimation methods, this study shows that social infrastructure can raise per capita income. The social infrastructures being discussed are number of high schools and number of health facilities. Telecommunication facility can also raise per capita income. In addition, income inequality is found to be positively influenced by income per capita growth and industry sector laborer. It also suggests that infrastructure has indirect relation with income inequality through per capita income.Keywords: Land borders, infrastructure, economic growth, inequalityJEL classification numbers: C23, C36, O15, O40, O53, I30, R11AbstrakTujuan penelitian ini adalah untuk menganalisis dampak infrastruktur terhadap pertumbuhan ekonomi dan ketimpangan di perbatasan darat Indonesia. Menggunakan metode estimasi regresi data panel statis dan panel two stage least square (2SLS), penelitian ini menunjukkan bahwa infrastruktur sosial dapat meningkatkan pendapatan per kapita. Infrastruktur sosial yang dibahas adalah jumlah sekolah tinggi dan jumlah fasilitas kesehatan. Fasilitas telekomunikasi juga dapat meningkatkan pendapatan per kapita. Selain itu, ketimpangan pendapatan ditemukan secara positif dipengaruhi oleh pertumbuhan pendapatan perkapita dan buruh sektor industri. Paper ini juga menunjukkan bahwa infrastruktur memiliki hubungan tidak langsung dengan ketimpangan pendapatan melalui pendapatan per kapita.Keywords: Perbatasan darat, infrastruktur, pertumbuhan ekonomi, ketimpanganJEL classification numbers: C23, C36, O15, O40, O53, I30, R11
Analisis Pinjaman Sebagai Potensi Pembiayaan Pembangunan Daerah: Studi Kasus Daerah Istimewa Jogjakarta Rokhedi Priyo Santoso
Economic Journal of Emerging Markets Vol. 8 No. 2 (2003)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v8i2.634

Abstract

This research aimed to analyze the potential of regional financing from regional debt both short run and long run debt in DIY. The criterias General Revenue and Debt Service Coverage Ratio as regulated in PP 107/2000 are used to decide whether the regional government is eligible to borrow long run debt. Because all of regions are eligible according to General Revenue criteria,  so the eligibility is only determined by DSCR criteria. Over period 1995 – 2002, DCSR fluctuates especially in crisis period. However, the short run eligibility criteria can not disclose the real financing needed For that reason, it is needed advance criteria that is more representative. Key word: regional debt, financing, DSCR
Dead weight loss associated with economic efficiency use of esticides in Indonesian rice production Joko Mariyono
Economic Journal of Emerging Markets Volume 6 Issue 2, 2014
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol6.iss2.art1

Abstract

This paper analyses the efficient use of pesticides by internalizing the costs of externality, and estimates the monetary value of welfare loss. The benefit of pesticide use is estimated using a production function, and the economic value of the adverse impact on human health and the environment are represented by a health cost and consumers’ willingness to pay for a kg reduction in pesticide use. To estimate the benefit of pesticides, the paper uses farm level crosssectional and time series data set on rice production. The results indicate low efficiency of using pesticide. This means that totally banning the use of pesticides is economically inefficient.
Bioeconomics Of Culture For Common Carp In Floating Net Cages In The Maninjau Lake West Sumatra Mohammad Noor
Economic Journal of Emerging Markets Vol. 7 No. 1 (2002)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v7i1.656

Abstract

This study was conducted in Maninjau Lake, West Sumatera from April 1998 to Febru¬ary 1999. The objective of this study is: (1) to estimate the relation between aquaculture of production and its biological performance, economics as well as physical system,  (2) to know which inputs are most important determinants of total output, (3) to identify the level of input efficiency. Data were collected by RRA and Survey using Semi-Structure Interview methods, and also from record keeping form of producers. The unconstrained Cobb Douglass production function was applied to estimate its relationship, and 8 explanatory variables con¬sist of biological inputs, economical inputs and physical inputs were hypothesized to explain the production yields. This study shows that F-value and R2 or coefficient of determination were highly significant of the 8 independent variables, only 5 variables have the expected positive sign and rest of them result negative sign. T- test shows that 6 explanatory variables are significant in explain during the output. The highest contribution and the most important deter¬minants of the total output are specific growth rate of biomass, stocking density and feed. The inputs of specific growth rate of biomas, stocking density and feeding labor for the fish fed should be increased to maximize profit, while reducing other inputs.  Keywords: Bioeconomics, common carp, gloating net cage, Maninjau Lake.
Drivers of business cycles in Iran and some selected oil producing countries Abouzar Taheri; Shahriar Nessabian; Reza Moghaddasi; Farzin Arbabi; Marjan Damankeshideh
Economic Journal of Emerging Markets Volume 13 Issue 1, 2021
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol13.iss1.art4

Abstract

Purpose - This study is aimed at analyzing the main drivers of business cycle in Iran and some selected oil producing countries during the 1970:Q1-2015:Q4 period. In addition, the study evaluates causality of leading macroeconomic indicators for each different regimes of the business cycles.Methods - This study proposes a new methodological approach by combining Markov-Switching Vector Autoregressive (MSVAR) and MS-Granger causality approach.Findings - The results show that there are diverse sources of business cycle. Iran experienced higher volatility of GDP where machinery investment and export are found as main driver of its business cycle. Meanwhile, consumer price index has countercyclical effect in all countries. We also find some similarities to the US, the UK, and Canada regarding the probability of a business cycle, number of observations, and the average duration, especially in the first regime of MS-VAR models. The high level of oil price volatility relative to the GDP volatility indicates the power of oil price shock to generate cycles. In addition, the results of the traditional Granger causality test confirm the Markov-Switching Granger Causality (MS-GC) test in all countries except export from the UK.Implication - Identification the main driver of business cycles is very significant to formulate the steady growth path so that the government able to select the most adequate economic policy.Originality - The novelty of this study is the adoption of a new approach by combining stylized facts and MS-VAR and MS-Granger causality to analyze the business cycles in different regime.
The impact of real effective exchange rate on revealed comparative advantage and trade balance of Pakistan Muhammad Siddique; Ahsan Anwar; Muhammad Abdul Quddus
Economic Journal of Emerging Markets Volume 12 Issue 2, 2020
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol12.iss2.art6

Abstract

This study estimates the effects of devaluation and appreciation of real effective exchange rate (REER) on revealed comparative advantage (RCA) at Harmonized System 2-digit level of exports in Pakistan. A non-linear Autoregressive Distribute Lag (ARDL) technique is applied to test the asymmetric evidence. This study employs two models to explore the export performance. Findings/Originality: The results of model 1 estimation confirm the proof of asymmetric ARDL and concludes that devaluation has a positive effect on selected RCA’s index value and helps enhance exports of Pakistan. Meanwhile, the appreciation of REER is having an adverse impact. Model-2 estimates the effect of these selected RCA’s, REER, and world aggregated income (Yw) on the trade balance (TB) of Pakistan. The results estimate that an increase in selected RCA’s index values, world aggregated income, and REER depreciation is useful to decrease in deficit TB of Pakistan.
Government fiscal spending and crowd-out of private investment: An empirical evidence for India Shiv Shankar; Pushpa Trivedi
Economic Journal of Emerging Markets Volume 13 Issue 1, 2021
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol13.iss1.art8

Abstract

Purpose - The paper evaluates the crowding-in or crowding-out relationship between public and private investment in India, controlling fiscal and monetary variables.Methods - In a flexible accelerator theoretical framework, the paper estimates long and short-run investment dynamics, employing Autoregressive Distributed Lag (ARDL) cointegration approach. We use a back series of national account statistics that incorporates enhanced coverage of the organized corporate sector.   Findings - Our results suggest investment complementarity between the public and private sector at an aggregate and sectoral level over the period 1981-2019. Barring short-run crowding-out in construction and financial services at industry level, public investment stimulates private counterparts, both in the long and short-run. However, fiscal deficit, inflation expectation, and sovereign vulnerability influence private investment adversely. Moreover, the long-run crowding-out bearing of fiscal imbalance is quantitatively higher when the public sector invests in mining and manufacturing and insignificant with infrastructure.Implication - Sizable infrastructure investment as a proportion of government finances would moderate the adverse impact of the deficit on private investment. Further, quality fiscal adjustments and containing inflation would enhance private investment activities.Originality - Besides aggregate and sectoral levels, the study also evaluates the impact of industry-level public investment on private capital expenditure.  This paper also incorporates derived variables in the regression framework using statistical filters and the principal component technique.
Similarity evidence between the country risk and the idiosyncratic risk: An empirical study of the Brazilian case André Assis de Salles
Economic Journal of Emerging Markets Volume 13 Issue 1, 2021
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol13.iss1.art6

Abstract

Purpose - This paper estimates the idiosyncratic risk (IDR) time series in the Brazilian economy and verifies its interaction with the Brazilian country risk indicators, measured by the EMBI+ (the Emerging Markets Bond Index).Methods - This paper estimates various regression models to capture the dynamic nature of the variables. The models include the heteroscedastic conditional autoregressive models and vector error correction models (VECM). Findings - The results show similarities or associations between the two indicators with interactions in the short and long run. The idiosyncratic risk proves to be a relevant indicator of the risk of economic activities implemented within the scope of the Brazilian economy and can help evaluate investments in related projects. This results also provide evidence of cointegration between the EMBI+ and IDR variations.Implication - This result suggests an alternative way for obtaining estimates of the expected return required by economic agents in financing and investing in productive and infrastructure projects necessary for developing the Brazilian economy that provides greater employability and good social welfare.Originality - This paper provides an alternative estimate of the time series proxy of idiosyncratic risk in the Brazilian economy. It also compares the results with the time series results obtained from the country risk measure EMBI+, widely used among resource managers in the international markets.
Institutional factors, entrepreneurship capital types, and economic growth in Asian countries Dung Tien Luu
Economic Journal of Emerging Markets Volume 12 Issue 2, 2020
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol12.iss2.art5

Abstract

This paper investigates the relationship between institutional factors, entrepreneurial types, and economic growth. The analysis is based on an unbalanced panel data of 18 Asian countries over 2006-2018 using a 3SLS estimation method. It extends the neoclassical growth model with entrepreneurship capital types as an endogenous variable to the economic growth function. Findings/Originality: The results show that new business density and productive entrepreneurship significantly affect GDP per capita. Additionally, a reverse impact of economic growth on entrepreneurship is revealed. Institution's constructs, namely corruption control and the rule of law, are crucial to entrepreneurship, which in turn stimulate economic growth. The results also confirm the significant role of human capital, accumulating domestic investment, economic openness, and controlling inflation in the economic growth model of the Asian countries.

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