Assessing Sharia Monetary Instruments  Against Country Economic Growth

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.

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THE TESTING OF MONEY NEUTRALITY IN ECONOMIC GROWTH OF INDONESIA

Management and Economics Journal (MEC-J) ◽

10.18860/mec-j.v1i1.4575 ◽

2017 ◽

Vol 1 (1) ◽

pp. 12

Author(s):

Muammil Sun’an ◽

Amran Husen

Keyword(s):

Economic Growth ◽

Time Series Data ◽

Output Growth ◽

Broad Sense ◽

Series Data ◽

Analysis Tool ◽

Real Sector ◽

Short Term ◽

Correction Model

This study aim is to test the money neutrality in a narrow sense (M1) and a broad sense (M2) to the growth of output (GDP) in Indonesia, both in short term and long term. This research uses quarterly time series data at 2010 - 2016 periods. The analysis tool used is Error Correction Model (ECM). The results show that short-term money supply (M1 and M2) affect on output growth. However, in the long term, only money circulation in a broad sense (M2) affects on output growth, which also means that money is not neutral because it affects the real sector (GDP). Keywords: M1, M2, Population, Capital, and Economic Growth.

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Analisis Peningkatan Upah Minimum Terhadap Penyerapan Tenaga Kerja di Provinsi Jawa Tengah

Jurnal Ekonomi Pembangunan ◽

10.23960/jep.v10i3.291 ◽

2021 ◽

Vol 10 (3) ◽

pp. 134-143

Author(s):

Annisa Yulianti ◽

Hadi Sasana

Keyword(s):

Economic Growth ◽

Minimum Wage ◽

Time Series Data ◽

Series Data ◽

Short Term ◽

Central Java ◽

Meaningful Relationship ◽

Short Time ◽

Relationship Of

This study aims to analyze the short-term and long-term relationship of increasing the minimum wage in Central Java on employment. The research method used is ECM. The variables of this study include labor, minimum wages, PMDN, and economic growth. The data used are time-series data from 1990-2020. The results show that the minimum wage has a positive and significant relationship to the employment in the long term but not significantly in the short time. PMDN has a negative but significant correlation in the short and long term. At the same time, the variable economic growth has a positive but not meaningful relationship to employment absorption in the long and short term.

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Causality Effects among Gross Capital Formation, Unemployment and Economic Growth in South Africa

Economies ◽

10.3390/economies8020026 ◽

2020 ◽

Vol 8 (2) ◽

pp. 26 ◽

Cited By ~ 1

Author(s):

Michael Takudzwa Pasara ◽

Rufaro Garidzirai

Keyword(s):

Economic Growth ◽

South Africa ◽

Inverse Relationship ◽

Time Series Data ◽

Capital Formation ◽

Series Data ◽

Vector Autoregressive ◽

The Third ◽

Short Run

Stagnant economic growth, decreasing investment and high unemployment remain consistent macroeconomic challenges for South Africa. Gross Capital formation (GCF) is designed to improve employment and economic growth (GDP). This study investigates the causality effects of the three variables using time series data from 1980 to 2018 in a Vector Autoregressive (VAR) framework. Results of the first model reveal a positive long-term relationship between gross capital formation GCF and economic growth GDP. Contrariwise, the first model indicates that unemployment (UNEMP) does not influence economic growth (GDP) in the short run. The second model results reveal a significant and positive relationship between UNEMP and GCF, while the third model shows an inverse relationship between GDP and UNEMP. Based on these findings, the study therefore recommends that fiscal authorities introduce expansionary fiscal policy that stimulates economic growth, investment and employment.

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ANALISIS PENGARUH VARIABEL MAKROEKONOMI DAN COUNTRY RISK TERHADAP INVESTASI PORTOFOLIO ASING DI INDONESIA

Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan ◽

10.24036/ecosains.11066657.00 ◽

2018 ◽

Vol 7 (2) ◽

pp. 135

Author(s):

Halifah Hadi ◽

Hasdi Aimon ◽

Dewi Zaini Putri

Keyword(s):

Economic Growth ◽

Time Series ◽

Time Series Data ◽

Country Risk ◽

Growth Effect ◽

Series Data ◽

Short Term ◽

Correction Model ◽

The Stability

The reseach aims to explain the effect of country risk and variabels macroeconomics to the foreign portofolio invesment in Indonesia in short term and long term. The analysis takes time series time series data from 2006 quarter 1 through 2016 quarter 4by using Error Correction Model (ECM). The source of data are Badan Pusat Statistik, Bank Indonesia, FX Sauder and World Bank. The result are in the short term the exchange rate and economic growth effect the shock that will influence the foreign portofolio invesment. In the long trem the inflation, interst rate, money supply and country risk influence on foreign portofolio invesment significanly. The suggestion in this research is, the goverment sould keep the stability balance of payment in Indonesia .Any change, the condition of balance of payments effect appreciation and depreciation to Rupiah. To increase the economic growth in Indonesia, goverment could increasing the fiscal income and PMDN realization that will increase the enterprises productivity.

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PENERAPAN AUTOREGRESSIVE DISTRIBUTED LAG DALAM MEMODELKAN PENGARUH INFLASI, PERTUMBUHAN EKONOMI, DAN FDI TERHADAP PENGANGGURAN DI INDONESIA

Jurnal Ekonomi Bisnis dan Kewirausahaan ◽

10.26418/jebik.v9i3.41332 ◽

2020 ◽

Vol 9 (3) ◽

pp. 250

Author(s):

Jumhur Jumhur

Keyword(s):

Economic Growth ◽

Foreign Investment ◽

High Speed ◽

Time Series Data ◽

Series Data ◽

Short Term ◽

Distributed Lag ◽

Autoregressive Distributed Lag ◽

Short And Long Term

This study aims to examine the effect of inflation, economic growth, and foreign investment on unemployment in Indonesia. Using the autoregressive distributed lag (ARDL) analysis method to analyze the 1991-2018 time series data collected from the World Bank's World Development Indicators database. The results found that inflation has a negative and significant effect in the short term but not significant in the long term in Indonesia. Economic growth has a negative and significant effect on both short and long-term unemployment in Indonesia, and foreign investment has a negative and significant effect on both short and long-term unemployment in Indonesia. Through the ARDL model, this research is able to prove that inflation, economic growth, foreign investment, and budgeting are proven to have long-term cointegration or move together in the long term. The four variables also have a dynamic short-term relationship that has a fairly high speed of adjustment towards equilibrium per year. Based on the results, policymakers, in this case the government must provide a conducive investment environment by eliminating the structural rigidity that exists in the economy to attract investment, both foreign and domestic investment, to encourage economic growth and create jobs in Indonesia.

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ANALISIS PENGARUH VARIABEL MAKRO EKONOMI TERHADAP INVESTASI ASING LANGSUNG (STUDY KASUS CHINA-INDONESIA).

Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan ◽

10.24036/ecosains.11064157.00 ◽

2017 ◽

Vol 6 (2) ◽

pp. 103

Author(s):

Ririn Martini Rezki ◽

Yeniwati Yeniwati ◽

Mike Triani

Keyword(s):

Economic Growth ◽

Foreign Direct Investment ◽

Exchange Rate ◽

Interest Rates ◽

Direct Investment ◽

Time Series Data ◽

Least Square ◽

Series Data ◽

Short Term

This research to analyze the influence of macro economic variables impact on Chinese Foreign Direct Investment in Indonesia. The influence of China’s economic growth, Indonesia’s economic growth, interest rates, inflation and exchange rates against Foreign Direct Investment (FDI) China in Indonesia in the long term and short term. Type of this research is descriptive research, the secondary data use form time series data, from 2001Q1 – 2016Q4, taken from agencies and related institution, the analysis using the Ordinary Least Square (OLS) and Error Correction Model (ECM) to see the influence in a long term and impact in the short term. This research show that Indonesia’s economic growth of China’s economic growth and inflation is have a significant effect in the long term Chinas’s FDI in Indonesia. Variable economic growth of Indonesia’s, interest rates, inflation, exchange rate in the short term influence China’s Foreign Direct Investment in Indonesia. How ever in the long term interest rates and exchange rate do not influence significantly, to China’s FDI in Indonesia.

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GLOBALISASI EKONOMI DAN PENGANGGURAN: STUDI KASUS INDONESIA

Jurnal Ekonomi Bisnis dan Kewirausahaan ◽

10.26418/jebik.v10i3.49278 ◽

2021 ◽

Vol 10 (3) ◽

pp. 263

Author(s):

Ari Setyawan ◽

I Wayan Suparta ◽

Neli Aida

Keyword(s):

Economic Growth ◽

Time Series ◽

Unemployment Rate ◽

Time Series Data ◽

Economic Globalization ◽

Series Data ◽

Real Wages ◽

Short Term ◽

The Government

ABSTRACTThis study aims to examine the effect of economic globalization on the unemployment rate in Indonesia and the relationship of other macroeconomic variables such as economic growth, inflation rate, and real wage with unemployment. The data used is in the form of annual time series data from 1986 to 2018, whose research results are analyzed using the ARDL method. This study concludes that economic globalization can reduce the unemployment rate in Indonesia in the short term, although in the long term, it increases the unemployment rate. Economic growth and inflation in the short and long term have not been able to reduce the current unemployment rate, while the increase in real wages has reduced the unemployment rate in the short term, although not in the long term. By looking at these results, we need to be wary of economic globalization because economic globalization has a destructive impact in the long term. So that concrete and consistent efforts are needed from the government, the private sector, and other stakeholders so that Indonesia gets the maximum benefit from economic globalization, especially in job creation and reducing unemployment.JEL : B22, E22.Keywords : unemployment, economic globalization, economic growth, inflation, real wages. ABSTRAKPenelitian ini bertujuan melihat pengaruh tingkat globalisasi ekonomi terhadap tingkat pengangguran di Indonesia serta hubungan variabel makroekonomi lain seperti tingkat pertumbuhan ekonomi, tingkat inflasi dan tingkat upah riil dengan tingkat pengangguran. Data yang dipergunakan berupa data time series tahunan dari periode 1986 hingga 2018 yang hasil penelitiannya dianalisis menggunakan metode ARDL. Kesimpulan penelitian ini yaitu globalisasi ekonomi mampu mengurangi tingkat pengangguran di Indonesia dalam jangka pendek meskipun dalam jangka panjang malah meningkatkan tingkat pengangguran. Pertumbuhan ekonomi dan inflasi baik dalam jangka pendek dan jangka panjangnya belum mampu menurunkan tingkat pengangguran yang ada sedangkan naiknya upah riil mampu menurunkan tingkat pengangguran dalam jangka pendek meskipun tidak dalam jangka panjang. Dengan melihat hasil ini, kita perlu waspada terhadap globalisasi ekonomi karena globalisasi ekonomi ini memiliki dampak buruk dalam jangka panjang sehingga dibutuhkan upaya kongkrit dan konsisten baik dari pemerintah, swasta maupun para stakeholder lain agar Indonesia memperoleh manfaat yang sebesar-besarnya dari globalisasi ekonomi khusunya dalam upaya penciptaan lapangan kerja dan mengurangi pengangguran.

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Understanding Causality Relation among FDI, Foreign Trade and Economic Growth

Economics Development Analysis Journal ◽

10.15294/edaj.v9i4.39044 ◽

2020 ◽

Vol 9 (4) ◽

pp. 414-426

Author(s):

Saimul Saimul ◽

Arif Darmawan

Keyword(s):

Economic Growth ◽

Foreign Trade ◽

Significant Relationship ◽

Time Series Data ◽

Analytical Techniques ◽

Series Data ◽

Short Term ◽

Causality Test ◽

Causality Relationship

This study aims to analyze the causality relationship between Foreign Direct Investment (FDI), Foreign Trade, and Economic Growth in Indonesia using quarterly time-series data from Q1-2004 to Q2-2019. This study uses co-analytical techniques, VECM integration, and Engle-Granger causality. The results of a two-way causality test happen between export and GDP variables, as well as import and GDP variables. In other words, foreign trade has an essential role in increasing economic growth in Indonesia. However, the two-way causality relationship takes place only in the short term. In the long run, it does not occur; what happens in the long term is an only one-way relationship, namely from foreign trade (X and M) to economic growth. While export and import relations have an only one-way relationship, namely from import growth to export growth, and this relationship only happens in the short term. In contrast, in the long term, it has no significant relationship. Likewise, the one-way relationship also takes place from imports to FDI in the short term. At the same time, export variables and GDP variables do not have a significant relationship with FDI variables. In the long-term economic growth, it turns out to be very instrumental in increasing both FDI, exports, and imports.

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PENGARUH KONSUMSI ENERGI DAN PENGELUARAN PERTAHANAN TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA

Jurnal Kajian Ekonomi dan Pembangunan ◽

10.24036/jkep.v1i2.6181 ◽

2019 ◽

Vol 1 (2) ◽

pp. 393

Author(s):

Roza Revika ◽

Yeniwati Yeniwati

Keyword(s):

Economic Growth ◽

Energy Consumption ◽

Time Series Data ◽

Descriptive Analysis ◽

Defense Spending ◽

Series Data ◽

Short Term ◽

Defense Expenditure ◽

Long Run

This study aims to analyze the effect of energy consumption and defense expenditure on economic growth partially in theshort and long term in Indonesia. This study uses secondary data with descriptive analysis using Time Series data from 1988 to 2017. The analytical method used is Auto Regression Distributed Lag (ARDL). The results of this study indicate that energy consumption in the long run has a negative and significant effect on economic growth in Indonesia. Energy consumption in the short term has a negative and not significant effect on economic growth in Indonesia. Defense spending has a positive and significant effect on economic growth in Indonesia in the long term and in the short term. It can be concluded that in the long run energy consumption and defense expenditure significantly influence economic growth in Indonesia.

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Analisis Kointegrasi Zakat dan Pertumbuhan Ekonomi Indonesia Periode Tahun 2015-2018

AKTSAR Jurnal Akuntansi Syariah ◽

10.21043/aktsar.v2i2.6066 ◽

2019 ◽

Vol 2 (2) ◽

pp. 249

Author(s):

Khairina Tambunan ◽

Isnaini Harahap ◽

M. Marliyah

Keyword(s):

Economic Growth ◽

Time Series Data ◽

Cointegration Test ◽

Series Data ◽

Long Term Effects ◽

Short Term ◽

Monthly Period ◽

Short And Long Term ◽

Period Data

This study analyzes the existence of short-term and long-term relationships between zakat variables and Indonesia's economic growth in the 2015-2018 period. Zakat as one of Islamic philanthropy is used to prosper Muslims. Zakat is divided into productive zakat and consumptive zakat. This study uses a cointegration test which is one of the tests of the VAR VECM method to determine whether or not there are short-term and long-term effects. The data used uses time-series data from 2015-2018 with data interpolated to monthly period data. The results show that zakat affects Indonesia's economic growth both in the short and long term.

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