scholarly journals Analisis Efektivitas Kebijakan Moneter dan Kebijakan Fiskal terhadap Produk Domestik Bruto Indonesia

2018 ◽  
Vol 7 (2) ◽  
pp. 194-202
Author(s):  
Ridho Windi Atmojo
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Fiscal Policy ◽  
Interest Rate ◽  
Empirical Data ◽  
Least Square ◽  
Two Stage ◽  
Economic Growth Rate ◽  
The Interest Rate

Dari data-data empiris tingkat pertumbuhan ekonomi Indonesia berdasarkan pada PDB  banyak mengalami penurunan. Untuk meningkatkan PDB Indonesia, maka dilakukan penelitian efektiv mana kebijakan moneter atau fiskal dalam mempengaruhi PDB Indonesia. Penelitian ini memakai model IS-LM dengan menggunakan metode Two-Stage Least Square (TSLS) untuk mengestimasi variabel yang ada dalam penelitian. Hasil penelitian menunjukan bahwa nilai PDB Indonesia dengan menggunakan IS-LM sebesar 2034769.68 miliar dan tingkat bunga berada di -8.78 persen. multiplier kebijakan fiskal sebesar 0.63 dan nilai multiplier moneter sebesar 1.72.  From the empirical data, Indonesia's economic growth rate based on GDP has decreased a lot. To increase Indonesia's GDP, an effecve research is conducted where the monetary or fiscal policy in influencing Indonesia's GDP. This research uses IS-LM model by using Two-Stage Least Square (TSLS) method to estimate the variables in the research. The results showed that the value of Indonesia's GDP using IS-LM amounted to 2034769.68 billion and the interest rate was at -8.78 percent. fiscal policy multiplier of 0.63 and a monetary multiplier value of 1.72.

scholarly journals Factors affecting stock market index volatility: Empirical study

2021 ◽  
Vol 10 (3) ◽  
pp. 169-176
Author(s):  
Mohammed Ali Al-Rimawi ◽  
Thair Adnan Kaddumi
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Foreign Investment ◽  
Inflation Rate ◽  
Market Price ◽  
Economic Growth Rate ◽  
Macroeconomic Variables ◽  
The Impact

How is stock market price volatility affected, and what is the nature of the impact that macroeconomic variables do on the stock market price direction? The main objective of this study is to investigate the impact of some selected macroeconomic variables (inflation rate (INR), interest rate (IR), economic growth rate (EGR), and foreign investment (FI)) on Amman Stock Exchange (ASE) fluctuation for the period 1999–2018. The information is based on the annual data published by industrial companies listed at ASE. The study adopted a descriptive-analytical approach, also simple and multiple linear regression analysis was employed for the mentioned purpose (Nurfadilah & Samidi, 2017). The results revealed that there is no statistically significant impact of INR, IR, EGR, and FI collectively on ASE performance (Niewińska, 2020). Individually, the results indicated that there is a statistically significant impact of all variables (INR, IR, EGR, and FI) on ASE performance. Additionally, the results concluded that foreign investment, portrayed the highest impact factor on ASE performance, followed by a change in average interest rate, then inflation rate, and the least impact attributes to the economic growth rate. Finally, the research recommends that Jordanian banks should reduce the lending interest rate to enhance investment in securities and improve economic growth rate, also Jordanian authorities should encourage foreign direct and indirect investment and make more efforts to attract more foreign investment, either in the form of tax incentives or by extending finance at low-interest rates.

scholarly journals Determinan Jumlah Uang Beredar, Tingkat Bunga, dan Inflasi Terhadap Pertumbuhan Ekonomi Indonesia

Al-Buhuts ◽  
2019 ◽  
Vol 15 (2) ◽  
pp. 45-64
Author(s):  
Adya Utami
Keyword(s):  
Economic Growth ◽  
Interest Rate ◽  
Money Supply ◽  
Negative Relationship ◽  
Secondary Data ◽  
Least Square Method ◽  
Least Square ◽  
Coefficient Of Determination ◽  
Independent Variable ◽  
The Interest Rate

This study aims to determine the determinants of the money supply, the interest rate, and inflation on Indonesia's economic growth in the 2009-2018 period. This research uses descriptive method and is strengthened by the OLS (ordinary least square) method with secondary data. The data used is sourced from the Central Statistics Agency and Bank Indonesia. The results of this study indicate that the money supply and the interest rate have a negative effect but inflation has a positive effect on Indonesia's economic growth. The JUB variable is not significant with a probability value of 0.1326. The JUB regression coefficient value has a negative relationship to the economic growth variable with a coefficient of 0.9288. The interest rate variable entered in the above equation turns out to be negative and significant with a probability value of 0.0571. The value of the coefficient of the exchange rate is (0.4843). The independent variable inflation gives a negative and not significant result with a probability value of 0.1134. Inflation coefficient value is 0.1724. In the equation model that uses economic growth as the dependent variable above, the magnitude of the coefficient of determination (R Squared) is 0.573429. This shows that the ability of the independent variable in explaining the diversity of the independent variables is 57.34% while the remaining 42.66% is influenced by other variables not included in the model.

scholarly journals Government borrowing as a Ponzi scheme: the case of Bangladesh

2021 ◽  
Vol 10 (1) ◽  
pp. 81-86
Author(s):  
Syed Yusuf Saadat
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Interest Rate ◽  
Real Interest Rate ◽  
Government Debt ◽  
Economic Growth Rate ◽  
The Real ◽  
Ponzi Scheme ◽  
The Government

This study investigates whether government borrowing can be likened to a Ponzi scheme which will allow the government to roll-over its debt perpetually. The results show that, on the basis of the condition of maintaining real economic growth rate above and beyond the real interest rate on government debt, it will not be possible to sustain a perpetual Ponzi scheme of all four types of National Savings Certificates in Bangladesh. The government’s debt may be rolled over perpetually for two types of National Savings Certificates, following the condition outlined in Ball, et al. (1998), or for three types of National Savings Certificates following the condition outlined in Mehrotra (2017). 

scholarly journals Covid-19, Remittance Inflow, and Economic Growth Rate in Nepal

2020 ◽  
pp. 69-80
Author(s):  
Arbind Chaudhary
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Least Square Method ◽  
Least Square ◽  
Economic Growth Rate ◽  
Ordinary Least Square ◽  
Domestic Literature ◽  
Gdp Growth Rate ◽  
Economic Ground

The proliferation of COVID-19 pandemic over the globe is anomalously hurting the world’s economy. The paper aims to reveal the possible loss in economic growth rate for FY 2020 due to plausible retardation in remittance/GDP size of Nepal under COVID- 19 regime by utilizing transmission approach, trend forecast, and ordinary least square method form 2000 to 2019. The study harvests two premises: first, remittance/GDP has a positive estimate to the economic growth rate and second, if the pandemic proliferates more, and if it downsizes the remittance/ GDP size by 25% to 75%, it reduces the projected GDP growth rate (6.95) up to 6.68 to 5.3% respectively for FY 2020. However, domestic literature also supports the strong role of remittance on the micro-level. Therefore, the microeconomic impact of the virus may be more appalling than the macro-economic ground.

scholarly journals ANALISIS INTERAKSI KEBIJAKAN FISKAL DAN MONETER TERHADAP PEREKONOMIAN INDONESIA

2019 ◽  
Vol 5 (2) ◽  
pp. 112-123
Author(s):  
Muhammad Akhyar ◽  
Sofyan Syahnur ◽  
Asmawati Asmawati
Keyword(s):  
Fiscal Policy ◽  
Interest Rate ◽  
World Bank ◽  
National Income ◽  
Secondary Data ◽  
Simultaneous Equation ◽  
Money Market ◽  
Least Square ◽  
Two Stage ◽  
The Government

 The Purpose of this research is to determine the balance of income and interest rate in both money market and goods market in improving economic performance shown through some macro economic indicators. The method used is simultaneous equation method and completed with Two Stage Least Square. The data in this study constitutes Indonesia's economic data from 1986 to 2015 drawn from secondary data sources such as Bank Indonesia (BI), Central Bureau of Statistics (BPS), and World Bank . The results show that the balance occurs at the national income level of 211.243,69 billion Rupiah with an interest rate of 3.86% and the more dominant fiscal policy currently applied in the economy. This IS-LM model can help the government in making policy to predict what happens to outputs and the aggregate interest rate if the government decides to increase government spending and increase the money supply.  Keywords: Aggregate output, interest rate, fiscal policy, monetary policy, good market, money market, IS-LM.  ABSTRAK Penelitian ini bertujuan untuk mengetahui keseimbangan pendapatan dan tingkat bunga baik di pasar uang maupun pasar barang dalam meningkatkan kinerja perekonomian yang ditunjukkan melalui beberapa indikator makro ekonomi. Metode yang digunakan menggunakan persamaan simultan dan diselesaikan dengan Two Stage Least Square. Data dalam penelitian ini merupakan data perekonomian Indonesia dari tahun 1986 – 2015 yang diambilkan dari sumber data sekunder baik seperti Bank Indonesia(BI), Badan Pusat Statistik (BPS), dan World Bank. Hasil penelitian menunjukkan bahwa keseimbangan terjadi pada tingkat pendapatan nasional sebesar Rp211.243,69  milyar dengan tingkat bunga sebesar 3.86% dan kebijakan fiskal lebih dominan saat ini diterapkan dalam perekonomian. Model IS-LM ini dapat membantu pemerintah dalam membuat kebijakan untuk memprediksikan yang terjadi pada output dan tingkat bunga agregat jika pemerintah memutuskan untuk meningkatkan pengeluaran pemerintah maupun meningkatkan jumlah uang beredar.

scholarly journals Fiscal policy responses for sustainable post-COVID-19 recovery: Taiwan's experience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Yu-Ying Kuo
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Fiscal Policy ◽  
Cost Benefit ◽  
Secondary Data ◽  
Economic Growth Rate ◽  
Content Type ◽  
Policy Responses ◽  
Development Goals ◽  
Audit Reports

PurposeThis study examined Taiwan's fiscal policy responses for sustainable post-COVID-19 recovery. The costs and benefits, aligned with Sustainable Development Goals (SDGs), of fiscal policy responses were identified and valued. Although it may be too early to conclude whether the benefits outweigh the costs, the performance and outcome of fiscal measures were evaluated.Design/methodology/approachThe study relied on secondary data, including governmental official data, legislative reviews, audit reports and public opinion polls to understand objective and subjective benefits and costs in economic, social and environmental dimensions. However, while the costs were measured in monetary terms, some of the benefits (i.e. satisfaction) could not be monetized; therefore, this study focused on identifying and valuing benefits from fiscal measures but set aside the issues of monetizing and discounting.FindingsWith respect to the costs, a special budget of NT$840 billion was approved, of which 66.83% was allocated for economic development, 33.12% for social welfare and 0.05% for environmental protection. In terms of the benefits, the economic growth rate was forecasted to be 5.88% in 2021 and 3.69% in 2022, while the average economic growth rate was 2.77% during the period from 2012 to 2019. Social equity was emphasized as various and customized bailout packages were provided to impacted individuals and industries. Moreover, most citizens were confident in the government's efforts to combat the pandemic and stimulate recovery in Taiwan.Originality/valueThis paper comprehensively details Taiwan's experience of fiscal policy responses for sustainable post-COVID-19 recovery. The cost-benefit approach was conceptually adopted. Bearing the value of “build back better” and “rebuild better,” the benefits of fiscal measures are promising, although there are indebted costs of the special budget.

scholarly journals ANALISIS PASAR BARANG DAN PASAR UANG DI INDONESIA : PENDEKATAN KEBIJAKAN FISKAL DAN KEBIJAKAN MONETER

2018 ◽  
Vol 7 (2) ◽  
pp. 121
Author(s):  
Siska Rahmi ◽  
Ali Anis ◽  
Dewi Zaini Putri
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Interest Rate ◽  
Least Square ◽  
Fiscal Multiplier ◽  
Ordinary Least Square ◽  
Effective Policy ◽  
The Interest Rate ◽  
Equilibrium Market ◽  
Research Show

This study aims to analyze the (1) multiplier of fiscal policy and monetary policy, (2) equilibrium market of goods and money market in Indonesia, (3) effective policy to stabilize Indonesian economy by using Ordinary Least Square (OLS) method. The results of the research show that (1) a fiscal multiplier is 0.06 and a monetary multiplier is 1.17, (2) the equilibrium is at the interest rate of 1,81% and the GDP of Rp. 935.235,6 billion, and (3) the effective policy is monetary policy in stabilizing the economy.

scholarly journals Fiscal Federalism and Economic Growth in Nigeria: An Empirical Analysis

2020 ◽  
pp. 1-10
Author(s):  
Omosehin Foluke Morohunmubo ◽  
Kelani Fatai Adeshina ◽  
Ladega Razak Ajibola
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Exchange Rate ◽  
Interest Rate ◽  
State Government ◽  
Fiscal Federalism ◽  
Least Square ◽  
National Bureau ◽  
World Bank Group ◽  
The Impact

Nigeria as a nation operates a federal structure of government, ‘Federalism’ refers to the existence in a country of more than one level of government, each with different expenditure responsibilities and taxing powers. The major aim of this work is to assess the impact of fiscal federalism and government expenditure on economic growth in Nigeria. Secondary data employed in this work was collected from the Central Bank of Nigeria's (CBN) Statistical Bulletin, CBN Annual Report and Statement of Accounts, National Bureau of Statistics (NBS) and The World Bank Group for years 2000, 2017 and 2018 and part of 2019, respectively. The data covers the period, 1990-2017 on an annual basis. Ordinary Least Square (OLS) was used to estimate multiple regression model where Gross Domestic Product (GDP) as dependent variable and independent variables were interest rate, inflation rate, exchange rate, growth rate of share of federal government from the Federation account, growth rate of share of state government from the federal account, growth rate of share of local government from the Federation account. The results obtained from the regression shows that there exists a positive relationship between the economic growth and share of federal revenue, state government revenue, exchange rate and interest rate from the federation account and economic process in Nigeria. From the above result, it can, therefore, be concluded that a policy to maintain macroeconomic stability by controlling the rate of inflation within the reasonable limit is required to promote economic growth.

scholarly journals Pengaruh Investasi, Laju Pertumbuhan Ekonomi, dan Upah Terhadap Penyerapan Tenaga Kerja

2018 ◽  
Vol 1 (3) ◽  
pp. 200-206
Author(s):  
Wildan Wildan
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Research Method ◽  
Secondary Data ◽  
Least Square ◽  
Absorption Function ◽  
Economic Growth Rate ◽  
Ordinary Least Square ◽  
Descriptive Research ◽  
Quantitative Descriptive

This study aims to Influence Investment, Economic Growth Rate, and Wages Against Absorption of Employment in Bogor Regency with the research method used in this study is a quantitative descriptive research method. The data used are secondary data which are analyzed by the quantitative method of multiple linear regression using the Ordinary Least Square (OLS) method. While the model used in this study is a model of the employment absorption function with 3 independent variables and 1 dependent variable. Based on the results of processed data using regression regarding the effect of investment, the rate of economic growth, and wages on labor absorption in Bogor Regency, it can be concluded that investment does not have a significant effect on employment in Bogor Regency. The economic growth rate has a positive and significant effect on employment in Bogor Regency. Wages have a positive and significant effect on employment in Bogor Regency. Simultaneously investment, economic growth rate, and wages show a significant influence on employment in Bogor Regency.   Penelitian ini bertujuan untuk Pengaruh Investasi, Laju Pertumbuhan Ekonomi, dan Upah Terhadap Penyerapan Tanaga Kerja di Kabupaten Bogor dengan metode penelitian yang dipakai dalam penelitian ini adalah metode penelitian deskriptif kuantitatif. Data yang digunakan adalah data sekunder yang dianalisis dengan metode kuantitatif regresi linear berganda dengan metode Ordinary Least Square (OLS). Sedangkan Model yang digunakan dalam penelitian ini adalah model fungsi penyerapan tenaga kerja dengan 3 variabel independen dan 1 variabel dependen. Berdasarkan hasil data yang telah diolah menggunakan regresi mengenai pengaruh investasi, laju pertumbuhan ekonomi, dan upah terhadap penyerapan tenaga kerja di Kabupaten Bogor, dapat ditarik kesimpulan bahwa investasi tidak berpengaruh signifikan terhadap penyerapan tenaga kerja di Kabupaten Bogor. Laju pertumbuhan ekonomi berpengaruh positif dan signifikan terhadap penyerapan tenaga kerja di Kabupaten Bogor. Upah berpengaruh positif dan signifikan terhadap penyerapan tenaga kerja di Kabupaten Bogor. Secara simultan investasi, laju pertumbuhan ekonomi, dan upah menunjukkan pengaruh yang signifikan terhadap penyerapan tenaga kerja di Kabupaten Bogor.

scholarly journals Pengaruh Investasi Sektor Perikanan Terhadap Perekonomian Indonesia

2019 ◽  
Vol 6 (2) ◽  
pp. 76-81
Author(s):  
Agustina - Arida
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Significant Role ◽  
Agricultural Sector ◽  
Positive Impact ◽  
National Income ◽  
Simultaneous Equations ◽  
Least Square ◽  
Economic Growth Rate ◽  
Made In

ABSTRACT Fisheries sub-sector in Indonesia has long maintained as the support of the nation's economy. Increased investment fisheries sub-sector has encouraged the acceleration of development in this sector, due to a positive impact on the structure of production, the availability and accessibility of capital, technology and the availability of skilled labor, which it is a component of the development of Indonesia's economic growth rate. The aim of research to determine the effect of increased investment toward increased revenues, and the influence of economic growth on investment. The model is made in the form of simultaneous equations, then estimated using 2SLS (two stage least square). Prior to estimation, to identify whether the equation which will direduce form has been identified or over-identified. The results of the agricultural sub-sector investment research has not been a significant impact on economic growth in Indonesia. Cases in Indonesia, economic growth or an increase in the national income will have an effect on the growth of investment. This is consistent with the theoretical aspects of these two variables, which, if income increases, the investment will also increase. Woke up only one-sided relationship, in this case affects only GDP but investment sub Investment agricultural sector has not been much (not significant) role in improving economic growth in Indonesia.

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