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Jurnal Ekonomi & Studi Pembangunan
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ANALYSIS OF POVERTY ALLEVIATION AND FINANCIAL INCLUSION IN THE MUSTAHIK EMPOWERMENT PROGRAM IN PEKANBARU

Trianto, Budi ( Sekolah Tinggi Ekonomi Islam (STEI) Iqra Annisa ) , Nasution, Yasir ( Sekolah Tinggi Ekonomi Islam (STEI) Iqra Annisa ) , Siregar, Saparuddin ( Sekolah Tinggi Ekonomi Islam (STEI) Iqra Annisa )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

This study aims to analyze poverty alleviation and financial inclusion in the mustahik em­powerment program in Pekanbaru. The samples involved in this study were 105 people drawn from four organizations of zakat in Pekanbaru. The analytical technique conducted using qualitative de­scriptive analysis. The results of this study show that the economic empowerment program conducted by zakat institutions in Pekanbaru has succeeded in alleviating the mustahik of the poverty line. Based on the World Banks poverty line, there are 34.07% of successful out of poverty line. Meanwhile, if using the Government poverty line then there are 60.29% mustahik who managed to get out of the poverty line. However, this empowerment program has not been integrated with the sharia micro­finance institutions. Therefore, the empowerment program for mustahik should be integrated with Islamic microfinance to pursue successful financial inclusion for mustahik. 

THE IMPACTS OF TRADE LIBERALIZATION ON POVERTY REDUCTION IN INDONESIA

Adha, Mufti Alam ( Universitas Ahmad Dahlan ) , Nahar, Faiza Husnayeni ( Universitas Muhammadiyah Yogyakarta ) , Azizurrohman, Muhammad ( student )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

Nowadays, trade liberalization is considered as development strategy policy to increase economic growth and reduce poverty in many countries, particularly in developing countries. It is reported that Indonesia has been actively joining many trade agreements in order to ease the distribution of goods and services to other countries. Hence, this study analyses the impact of trade liberalization on poverty reduction by using an Ordinary Least Square (OLS) method from 1984 to 2017. The Trade Openness Ratio (TOR) is used as a dependent variable in order to measure trade liberalization. Other variables such as GDP, exchange rate and labor force are considered as control variables. The empirical result shows that TOR and labor force have a positive impact on poverty, whereas GDP and exchange rate have a negative impact. This finding is different with previous researches, particularly where trade liberalization has been negatively affecting poverty. Such a result is justifiable because Indonesian firms are not ready to compete with foreign firms where high competitiveness exist. 

THE DETERMINANT OF INFLATION IN INDONESIA: PARTIAL ADJUSTMENT MODEL APPROACH

Lelo, Yosefina Don Sama ( Universitas Pembangunan Nasional Veteran Yogyakarta ) , Astuti, Rini Dwi ( Universitas Pembangunan Nasional Veteran Yogyakarta ) , Suharsih, Sri ( Universitas Pembangunan Nasional Veteran Yogyakarta )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

Inflation is one of the economic issues that always being targeted by the government, particularly central bank because it could adversely influence the economy. For the past view years, the inflation targeting framework as the part of monetary policy has been successfully implemented where the interest rate is the operational target. In view of past investigations, there are fundamental factors that affect inflation, for example, interest rate, exchange rate, and money supply. This study aims to evaluate the impact of those factors on inflation both in the short and long run. The estimation uses monthly data from January 2013 to November 2017, which was obtained from Indonesian Banking statistics. The use of Partial Adjustment Model illustrates how interest rates, exchange rate, and money supply negatively and significantly affect inflation on both short and long run. This regression result is consistent with the finding of previous studies which strengthen the evidence that the government should maintain the inflation rate through those variables.

COMPARISON OF COMPANIES’ STOCK RETURNS BETWEEN CONSUMER SECTOR AND CONSTRUCTION SECTOR ON THE INDONESIA STOCK EXCHANGE

Christian, Christian ( Universitas Trisakti ) , Rustam, Rinaldi ( Universitas Trisakti )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

This research attempts to analyze risk and stock return of consumer sector and construction sector at Indonesian Stock Exchange. This research used the documentation method to collect the data. Data has been taken from Bloomberg Terminal. The sample is four corporations, with two corporations for each sector from 2011 until 2016. This research is using the Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT) for data analysis. Unfortunately, the Capital Asset Pricing Model (CAPM) has poor overall explanatory power, whereas the Arbitrage Pricing Theory (APT) model allows multiple sources of systematic risks to be taken into account and performs better than the CAPM, but both of the tests are considered. In regression analysis, the dependent variable used in the model is stock return. The result shows that inflation has insignificant effect on stock return. Furthermore, consumer sector has negative and significant effect on stock return. Conversely, construction sector has positive and significant effect on stock return.

GROSS REGIONAL DOMESTIC PRODUCT FORECASTS USING TREND ANALYSIS: CASE STUDY OF BANGKA BELITUNG PROVINCE

Oktaviana, Nurmalita ( Gadjah Mada University, Indonesia ) , Amalia, Nurisqi ( Gadjah Mada University, Indonesia )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

Gross Regional Domestic Product (GRDP) is one of the important indicators to determine the economic conditions in the region. This study aims to forecast the Gross Regional Domestic Product (GRDP) of the Province of Bangka Belitung Islands which is dominated by tourism sector. This forecasting to be expected to give information to formulate a type of policy action that will be conducted by decision makers based on GRDP data. GRDP data are from the first quarter of 2010 to the fourth quarter of 2017 on the basis of constant prices in 2010. Data sources are obtained from Central Bureau of Statistics (BPS) of the Province of Bangka Belitung Islands. The forecasting method used is the research is trend analysis. The results of the GRDP forecasting of Bangka Belitung Province in the first quarter of 2018 to the fourth quarter of 2022 shows an increasing trend. It can be seen from historical data that shows an increasing trend as evidenced from the graph on linear trends. The increasing trend in GRDP of the Bangka Belitung Islands Province for the next five years is supported by government policies that prioritize the tourism sector. Consequently, by prioritizing the tourism sector, this will increase economic growth and can reduce GRDP dependency on mining sector, especially tin that has been continuously decreased.

DETERMINANTS OF INDONESIAN CRUDE PALM OIL EXPORT: GRAVITY MODEL APPROACH

Ridwannulloh, Ridwannulloh ( UIN Sunan Kalijaga Yogyakarta ) , Sunaryati, Sunaryati ( UIN Sunan Kalijaga Yogyakarta )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

Crude Palm Oil (CPO) is a commodity in the agricultural sector with the largest contribution to the value of Indonesian exports. Moreover, since 2006, Indonesia has become the largest CPO producer in the world. Therefore, this research attempts to investigate determinants of In­donesia CPO export to main trading partners using Gravity model approach. This study is conducted to analyze the effect of Indonesia’s GDP, GDP of Indonesia’s four main trading partners, distance, the rupiah exchange rate against US dollar and domestic CPO consumption on Indonesian CPO exports. The analysis technique is used in this research is panel data regression using fixed-effect model. The results of this study indicate that not all variables have significant effect on Indonesian CPO exports. Variables such as Indonesia’s GDP and GDP of major trading partners have positive and significant effect, whereas rupiah exchange rate variable and domestic consumption have negative and significant effect on Indonesian CPO export. In addition, in line with Gravity model, variable of distance has negative and significant effect on Indonesian CPO exports.

THE IMPACT OF JAMKESMAS ON HEALTHCARE UTILIZATION IN EASTERN REGIONS OF INDONESIA: A PROPENSITY SCORE MATCHING METHOD

Sambodo, Novat Pugo ( Erasmus School of Health Policy and Management, Erasmus Universiteit Rotterdam Research Associate Pusat Kebijakan Pembiayaan dan Manajemen Asuransi Kesehatan, Medical Faculty Universitas Gadjah Mada )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

Underutilization of health care for the poor is one critical problem in Indonesia. Out of pocket share is dominant on overall health financing. Therefore, it is plausible that low demand of modern healthcare services mainly relates to financial aspect. In 2008, the government of Indonesia has introduced health insurance schemes for the poor to help them overcome the problem of medical costs barrier called Jamkesmas (Social Health Insurance). This paper examines the impact evaluation of Jamkesmas to health care utilization in Eastern Indonesia. Data are drawn from Indonesia Family Life Survey East (IFLS-East) that held in 2012. This data only covers the eastern regions of In­donesia that widely known has relatively lower performance in development and infrastructure. Moreover, this study employs Propensity Score Matching (PSM) approach to analyse the data. The results show that average treatment effect for treated group are positive for outpatient utilization. In addition, availability of the healthcare facility variables, travelling time and distance to district capital are factors that determine Jamkemas coverage in Eastern Indonesia.

THE RELATIONSHIP BETWEEN CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE IN ISLAMIC BANKS

Ausat, Syed Amaar Ali ( School of Social Science Heriot-Watt University Edinburgh )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

Corporate governance refers to policies and mechanisms related to how the company is directed and controlled and looks at the Board of Directors and their characteristics for example. The focus of this study will be to investigate the relationship of corporate governance and financial performance for Islamic Banks. The corporate governance variables and financial data was collected using the Orisis database and looking through annual reports of the banks from 2013 to 2017. The sample comprised 12 listed Islamic banks from different countries and used a panel data approach with a set of 60 firm-year observations. The corporate governance variables selected included, board size, CEO duality, board independence and Shariah Supervisory Board size to test their effect of a firm’s performance measured by ROA and ROE. Other firm level characteristics such as size and age of the banks were included to reduce the amount of external influence throughout the study. Results were analysed using descriptive statistics, Pearson Correlation Matrix, Generalised Least Squared (GLS) regression and the Random Effect Model. The concluding results proved that there was a positive relationship between some corporate governance variables and a firm’s performance. Board size was reported as the most significant factor which affects financial performance as measured by ROA. However, interestingly CEO duality was also noted to be a significant factor which affected performance. This was seen for both performance measures; ROA and ROE. The remaining independent variables and control variables showed no significant correlation to a firm’s performance and that there must be external factors which explain performance. The results showed that corporate governance was a necessary consideration for improved performance.

ROLE OF STATE AND WELFARE STATE: FROM COMMONS, KEYNES TO ESPING-ANDERSEN

Nugroho, Wisnu Setiadi ( Colorado State University )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 2, Oktober 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

The welfare state system is a popular economic system nowadays. At least more than fifteen countries have the characteristics of a welfare state economic system with their respective character and features. Esping-Andersen divided the welfare system classification into three major groups, namely the conservative welfare state, socio-democratic welfare state, and liberal welfare state. This article at­tempts to link the idea and foundation of a welfare state system is two utmost significant economists, John Maynard Keynes and John Roger Commons. Based on history of eco­nomic thought, Keyness thought about the system of welfare states can be seen and traced in the liberal welfare state system on Esping-Andersen classification. On the other hand, traces of Com­mons thought can be seen in the so­cio-democratic state welfare system. Therefore, both Keynes and Commons can be categorized as the founding fathers of the welfare state system. Since their thought about the role of the state is the foun­dation of welfare state system, long before the United Kingdom began implementing the modern wel­fare state system in the 1980s. In addition, this study also attempts to undertake comparative analysis of economic systems and present the em­pirical data on the performance of welfare countries based Esping-Andersen classification in three categories: economic performance, quality & health perfor­mance, and level of accumulation of human resources. It is hoped that with the facts presented here there will be further discussion re­garding the welfare state system.

EFISIENSI TEKNIS BADAN USAHA MILIK DAERAH (BUMD) BIDANG JASA PRODUKSI PROVINSI JAWA TENGAH

Suwardi, Maskun ( Fakultas Ekonomi, Universitas Negeri Semarang ) , Prasetyo, P. Eko ( Fakultas Ekonomi, Universitas Negeri Semarang )

Jurnal Ekonomi & Studi Pembangunan JESP Volume 19 Nomor 1, April 2018
Publisher : Jurnal Ekonomi & Studi Pembangunan

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Abstract

This research was aimed to analyze the level of technical efficiency and identify some factors that influence it and also solutions necessary to conduct to improve the efficiency of BUMD of production service field in Central Java Province. The analysis method used a Data Envelopment Analysis (DEA) by a frontier analysis approach. The BUMN analysis unit of production service field was in Central Java. Variables used were input variables (capital deposited, total expenses and employee numbers) and output variables (income, profit before tax and dividend realization). Data used was a secondary data of BUMD of production service field periods 2011-2016. The research objects covered PD. CMJT, PT. SPJT, PT. SPHC, PDAB TU and PT. PRPP. The research results showed that out of five BUMDs of production service field in Central Java Province, there were two inefficient BUMDs include PDAB TU and PT. PRPP. PDAB TU was not efficient in 2012, 2013 and 2016, while PT. PRPP was not efficient during 2011-2016. Three out of five BUMDs namely PD. CMJT, PT. SPJT and PT. SPHC achieved efficiency of 100% during research period. The BUMDs inefficiency occurred due to combining unsuitable input variable magnitude so that needed to conduct adjustment of input factor magnitude in yielding output efficiently 100%. It could be concluded that there is a trend of efficiency in BUMD of production service field every year and there are two inefficient BUMDs. The BUMD inefficiency was caused by combining disproportional input factor magnitude. It was suggested the two inefficient BUMDs should adjust input factor value magnitude in achieving output efficiently 100%