INVESTASI SWASTA DI INDONESIA

The result of cointegration test shows that the determinant variables in the model with private investment which means, in the long term direction of movement of independent variables with dependent variables. Based on statistical tests, Error Correction Model (ECM) private investment, coefficient of national income variable on short-term is significant and have positive signs. The coefficient of variable error correction term (ECTt-1) are statistically significant at 99% confidence level and has a negative sign. Coefficient ECTt variable is negative means that model in the short term under long-term equilibrium, so that the balance of short-term adjustment process towards long run equilibrium moves upward direction. In the long-term, the economic crisis affects private investment and negative signDOI: 10.15408/sjie.v1i2.2605

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Long-Term Capital Goods Importation and Minimum Wage Relationship in Turkey: Bounds Testing Approach

Studies in Business and Economics ◽

10.1515/sbe-2015-0011 ◽

2015 ◽

Vol 10 (1) ◽

pp. 122-129 ◽

Cited By ~ 1

Author(s):

Serkan Tastan ◽

Halil Ozekicioglu

Keyword(s):

Error Correction ◽

Minimum Wage ◽

Correction Term ◽

Bounds Testing ◽

Short Term ◽

Capital Goods ◽

Error Correction Mechanism ◽

Bounds Testing Approach ◽

Testing Approach

Abstract In order to examine the long-term relationship between capital goods importation and minimum wage, autoregressive distributed lag (ARDL) bounds testing approach to the cointegration is used in the study. According to bounds test results, a cointegration relation exists between the capital goods importation and the minimum wage. Therefore an ARDL(4,0) model is estimated in order to determine the long and short term relations between variables. According to the empirical analysis, there is a positive and significant relationship between the capital goods importation and the minimum wage in Turkey in the long term. A 1% increase in the minimum wage leads to a 0.8% increase in the capital goods importation in the long term. The result is similar for short term coefficients. The relationship observed in the long term is preserved in short term, though in a lower level. In terms of error correction model, it can be concluded that error correction mechanism works as the error correction term is negative and significant. Short term deviations might be resolved with the error correction mechanism in the long term. Accordingly, approximately 75% of any deviation from equilibrium which might arise in the previous six month period will be resolved in the current six month period. This means that returning to long term equilibrium progresses rapidly.

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PENGARUH NON PERFORMING FINANCING, CAPITAL ADEQUACY RATIO, BEBAN OPERASIONAL PENDAPATAN OPERASIONAL DAN NET IMBALAN TERHADAP RETURN ON ASSETS (STUDI PADA BANK MAYBANK SYARIAH PERIODE 2012-2019)

Niqosiya: Journal of Economics and Business Research ◽

10.21154/niqosiya.v1i1.108 ◽

2021 ◽

Vol 1 (1) ◽

pp. 78-93

Author(s):

Lely Awintasari ◽

Maulida Nurhidayati

Keyword(s):

Error Correction ◽

Error Correction Model ◽

Capital Adequacy ◽

Short Term ◽

Return On Assets ◽

Correction Model ◽

Long Run ◽

Capital Adequacy Ratio ◽

Short And Long Term

The purpose of this study is to analyze the influence of Non Performing Financing (NPF), Capital Adequacy Ratio (CAR), Operating Expenses operating income (BOPO) and Net Rewards (NI) ratio on Return On Assets of Maybank Syariah Bank. A bank's Return on Assets (ROA) is a ratio that shows the bank's success in making a profit. If the ROA obtained by a small bank as a result of the bank can suffer losses and hinder the growth of the bank. This research is a type of quantitative research with Error Correction Model method with a significance rate of 5%, with a total of 32 samples in the form of quarterly data published by Bank Maybank Syariah in 2012-2019. The findings in this study are that NPF negatively affects ROA in the short term but NPF has no effect on ROA in the long run. CAR has no effect on ROA in the short term but CAR has a positive effect on ROA in the long run. BOPO in the short and long term negatively affects ROA. NI in the short and long term has no effect on ROA. Simultaneously NPF, CAR, BOPO and NI both short-term and long-term affect ROA simultaneously. The amount of influence exerted in the short term is 89.20% while in the long term it is 88.57%. In order to increase ROA, Maybank Syariah Bank as much as possible to reduce the percentage of NPF and BOPO and can increase the CAR owned. Tujuan penelitian ini adalah untuk menganalisis pengaruh rasio kuangan Non Performing Financing (NPF), Capital Adequacy Ratio (CAR), Beban Operasional Pendapatan Operasional (BOPO) dan Net Imbalan (NI) terhadap Return On Assets Bank Maybank Syariah. Return on Assets (ROA) suatu bank merupakan rasio yang menunjukkan keberhasilan bank dalam menghasilkan keuntungan. Apabila ROA yang diperoleh bank kecil akibatnya bank dapat mengalami kerugian serta menghambat pertumbuhan bank tersebut. Penelitian ini berjenis penelitian kuantitatif dengan metode Error Correction Model dengan tingkat signifikansi 5%, dengan jumlah sampel sebanyak 32 yang berupa data triwulan yang dipublikasikan oleh Bank Maybank Syariah tahun 2012-2019. Temuan pada penelitian ini adalah NPF berpengaruh negatif pada ROA dalam jangka pendek tetapi NPF tidak berpengaruh pada ROA dalam jangka panjang. CAR tidak berpengaruh pada ROA pada jangka pendek namun CAR berpengaruh positif terhadap ROA dalam jangka panjang. BOPO dalam jangka pendek maupun jangka panjang berpengaruh negatif pada ROA. NI dalam jangka pendek maupun jangka panjang tidak berpengaruh pada ROA. Secara simultan NPF, CAR, BOPO dan NI baik jangka pendek maupun jangka panjang berpengaruh terhadap ROA secara simultan. Besarnya pengaruh yang diberikan pada jangka pendek adalah 89,20% sedangkan pada jangka panjang sebesar 88,57%. Untuk dapat meningkatkan ROA, Bank Maybank Syariah sebisa mungkin untuk menurunkan persentase NPF dan BOPO serta dapat meningkatkan CAR yang dimiliki.

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The Impact of Final Demand arld Prices on Indonesia's Total - Import: Cointegration and Error Correction Model Analysis

Jurnal Ekonomi dan Pembangunan Indonesia ◽

10.21002/jepi.v9i2.161 ◽

2009 ◽

Vol 9 (2) ◽

pp. 109-125

Author(s):

Isbandriyati Mutmainah

Keyword(s):

Error Correction ◽

Private Investment ◽

Error Correction Model ◽

Final Demand ◽

Cointegration Test ◽

Series Data ◽

Short Term ◽

Correction Model ◽

The Impact

This research is aimed to investigate the influence of final demand and price to Indonesian agregate imports in the long-run and short-run. We use analytical technique cointegration test Iohansen procedures for the long-term influence, and Error Correction Model to estimate the short-term influence, by using quarterly time series data period from_1980 to 2004. From the result of cointegration test and Error Correction Model we found that in the long-term, all of final demand components and price except private investment are important I in determining Indonesian agregate imports. The government expenditure variable has the highest influence, while in the short-term all of independent variables except private consumption are important in determining Indonesian agregate imports and foreign price variable has the highest influence.

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ANALISIS MAKRO EKONOMI TERHADAP CADANGAN DEVISA INDONESIA (MELALUI PENDEKATAN MONETER)

Ecosains: Jurnal Ilmiah Ekonomi dan Pembangunan ◽

10.24036/ecosains.10966157.00 ◽

2015 ◽

Vol 4 (2) ◽

pp. 127

Author(s):

Novri Candra ◽

Idris Idris ◽

Selli Nelonda

Keyword(s):

Exchange Rates ◽

Interest Rates ◽

Error Correction ◽

Foreign Exchange ◽

National Income ◽

Foreign Exchange Reserves ◽

Short Term ◽

Negative Effect ◽

Positive Effect

This study aimed to analyze the change in foreign exchange reserves which are affected by the state of national income, exchange rates, interest rates and inflation. This study was conducted to see the effect of the independent variable on the dependent variable in the long term and short term. The method used is the Error Correction Model (ECM). This study shows that the long-term effects of the variables national income and the exchange rate has a significant positive effect on foreign exchange reserves, while in the short term have a negative effect but not significant. Variable interest rates on long-term have a positive effect but not significant and in the short term have a significant negative effect on foreign exchange reserves. Variable inflation in the long term and short term no significant effect on the foreign exchange reserves. Results Error Correction Term (ECT) in this study amounted to 1,065, which means that in the short-term foreign exchange reserves will undergo considerable change and requires quite a long time to come back into balance.Keyword : Reserves, National Income, Exchange Rates, Interest Rates and Inflation ECM, ECT

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PENGARUH PRODUK DOMESTIK BRUTO, SUKU BUNGA RIIL, DAN PARTISIPASI ANGKATAN KERJA TERHADAP INVESTASI SWASTA DI INDONESIA (Pendekatan Error Correction Model)

Jurnal Perspektif Ekonomi Darussalam ◽

10.24815/jped.v3i1.6988 ◽

2017 ◽

Vol 3 (1) ◽

pp. 1-16

Author(s):

Dedy Syahputra ◽

Abubakar Hamzah ◽

Muhammad Nasir

Keyword(s):

Time Series ◽

Interest Rates ◽

Error Correction ◽

Labor Force ◽

Private Investment ◽

Error Correction Model ◽

Short Term ◽

Real Interest Rates ◽

Correction Model

This study aimed to analyze the influence of the GDP, the real interest rate, the labor force, the private investment in Indonesia. The data used in this research is time-series data from 2000 to 2014. The research model uses an error correction model (ECM). The results showed in the long term, GDP, labor force and real interest rates have a statistically significant relationship good and theory with a confidence level of 95 percent. In the long-term estimate found that the labor force will greatly affect private investment and the estimated short-term real interest rates affect the amount of investment that will go to Indonesia. In coefficient explained, the labor force has a strong influence and advice foreign investment into the country. For short-term model estimation results indicate GDP and real interest rates significantly affect the labor force in private investment but no significant effect on private investment. However, both long term and short term, variable real interest rates still the basic reason for investing. In result of cointegration explain that the variable GDP, real interest rates, and the laborforce has a cointegration relation to investment in the long term. The government needs to increase investment and promote the economy and set the interest rates are low. Penelitian ini bertujuan menganalisis pengaruh PDB, tingkat bunga riil, angkatan kerja, terhadap investasi swasta di Indonesia. Data yang digunakan dalam penelitian ini adalah data time-series tahun 2000 hingga tahun 2014. Model penelitian ini menggunakan Error Corection Model (ECM). Hasil menunjukkan dalam jangka panjang, PDB, angkatan kerja dan suku bunga riil memiliki hubungan signifikan baik statistik dan teori dengan tingkat kepercayaan 95 persen. Pada estimasi jangka panjang ditemukan bahwa angkatan kerja akan sangat mempengaruhi investasi swasta dan estimasi jangka pendek, tingkat suku bunga riil mempengaruhi besarnya investasi yang akan masuk ke Indonesia. Secara koefisien menjelaskan, angkatan kerja memiliki pengaruh yang cukup kuat dan memberi masukan investasi asing ke dalam negeri. Untuk hasil estimasi model jangka pendek menunjukkan PDB dan tingkat bunga riil berpengaruh secara signifikan terhadap investasi swasta tetapi angkatan kerja tidak berpengaruh signifikan terhadap investasi swasta. Namun demikian, baik jangka panjang maupun jangka pendek, variabel tingkat suku bunga riil masih menjadi alasan dasar untuk berinvestasi. Dalam hasil kointegrasi menjelaskan bahwa variabel PDB, suku bunga riil, dan angkatan kerja memiliki hubungan kointegrasi terhadap investasi dalam jangka panjang. Pemerintah perlu meningkatkan investasi dan memajukan perekonomian serta mengatur suku bunga yang rendah.

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The impacts of public investment on private investment and economic growth

Journal of Asian Business and Economic Studies ◽

10.1108/jabes-04-2018-0003 ◽

2018 ◽

Vol 25 (1) ◽

pp. 15-32 ◽

Cited By ~ 8

Author(s):

Canh Thi Nguyen ◽

Lua Thi Trinh

Keyword(s):

Economic Growth ◽

Public Investment ◽

Private Investment ◽

Short Term ◽

Content Type ◽

State Sector ◽

Positive Effects ◽

Long Run ◽

Short And Long Term

Purpose The purpose of this paper is to assess both short and long-term influences of public investment on economic growth and test the hypothesis that whether public investment promotes or demotes private investment in Vietnam. Design/methodology/approach The authors use the approach of autoregressive distributed lag model and Vietnam’s macro data in the period of 1990-2016, to evaluate the short and long-term effects of public investment on economic growth and private investment. The model evaluates the impact of public investment on economic growth and private investment based on the neoclassical theories. The public investment which strongly affects economic growth is also reflected by aggregate supply and demand. Public investment directly impacts aggregate demand as a government expenditure and aggregate supply as a production function (capital factor). Findings The results from this research indicate that public investment in Vietnam in the past period does affect economic growth in the pattern of an inverted-U shape as of Barro (1990), with positive effects mostly occurring from the second year and negative effects of constraining long-term growth. Meanwhile, investment from the private sector, state-owned enterprises, and FDI has positive effects on short-term economic growth and state-owned capital stock has positive impacts on economic growth in both the short and long run. The estimated influence of public investment on private investment also shows a similar inverted-U shape in which public investment have crowding-in private investment short-term but crowding-out in the long run. Practical implications The empirical findings in this study can be used for conducting a more efficient policy in restructuring the state sector investment in Vietnam. Originality/value The main contributions in this study are: to evaluate the impacts of public investment on economic growth and private investment, the authors extracted public investment in infrastructure from aggregate investment of state sector (as previous studies used); the authors also uses state-owned capital stock variable including cumulative public investment and state-owned enterprises investment suggesting that this could control for the different orders of integration between the stock and flow variable and improve the experimental characteristics of the equation to a higher degree.

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KETERKAITAN INDIKATOR MONETER SYARIAH TERHADAP PENDAPATAN DOMESTIK BRUTO

Signifikan Jurnal Ilmu Ekonomi ◽

10.15408/sjie.v1i1.2595 ◽

2012 ◽

Vol 1 (1) ◽

Author(s):

Yunie Fitriani ◽

Roikhan Mochamad Aziz ◽

Fitri Amalia

Keyword(s):

Gross Domestic Product ◽

Error Correction ◽

Money Supply ◽

Islamic Banking ◽

Short Term ◽

Correction Model ◽

Independent Variables ◽

Long Run ◽

Short Run

The purpose of this research is to analyze in the short term and long term between the four independent variables including: the financing of Islamic banking, the Jakarta Islamic Index (JII), the Islamic Bank Indonesia certificates (SBIS), and the money supply (JUB) to gross domestic product (GDP). This research uses the test to notice any indications of Granger was awarded a long-term relationship and Error Correction Model to see the existence of a short-term relationship. The result shows that in the short-run only SBIS that have a short-run relationship to GDP. In the long-run all the independent variables can explain the long-run relationship to GDPDOI: 10.15408/sjie.v1i1.2595

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INTERAKSI ASPEK PERMODALAN, RISIKO PEMBIAYAAN, DAN INDIKATOR MAKROEKONOMI DALAM MEMPENGARUHI PROFITABILITAS BPRS DI INDONESIA PERIODE 2014-2018

Jurnal Benefita ◽

10.22216/jbe.v5i3.5623 ◽

2020 ◽

Vol 5 (3) ◽

pp. 401

Author(s):

Feri Irawan

Keyword(s):

Economic Growth ◽

Time Series ◽

Error Correction ◽

Error Correction Model ◽

Series Data ◽

Short Term ◽

Correction Model ◽

Long Run ◽

Short And Long Term

ABSTRACTThis study aims to analyze the effect of capital aspects (CAR), financing risk (NPF) and macroeconomic variables including economic growth, inflation and the BI Rate on profitability (ROE) in the short and long term. By using time series data for the monthly period from 2013-2018 and the Error-Correction Model (ECM) and cointegration approach, it is found that CAR and NPF do not have a significant effect on ROE in the short and long term. Economic growth, inflation and the BI Rate in the short term do not have a significant effect on ROE, in the long run economic growth, inflation and the BI Rate have a significant effect on ROE. In the short term, economic growth, inflation and the BI Rate disturb the balance of profitability, but in the long run it returns to its equilibrium level. It is necessary to integrate the BPRS policy strategy in managing capital and risk with government policies related to economic growth and inflation. ABSTRACTPenelitian bertujuan menganalisis pengaruh aspek permodalan (CAR), risiko pembiayaan (NPF) dan variabel makroekonomi yang meliputi pertumbuhan ekonomi, inflasi dam BI Rate terhadap profitabilitas (ROE) dalam jangka pendek dan jangka panjang. Dengan menggunakan data time series periode bulanan dari tahun 2013-2018 dan pendekatan Error-Correction Model (ECM) dan kointegrasi, ditemukan bahwa CAR dan NPF tidak berpengaruh secara signifikan terhadap ROE dalam jangka pendek dan jangka panjang. Pertumbuhan ekonomi, inflasi dan BI Rate dalam jangka pendek tidak berpengaruh signifikan terhadap ROE, dalam jangka panjang pertumbuhan ekonomi, inflasi dan BI Rate berpengaruh signfikan terhadap ROE. Pada jangka pendek, pertumbuhan ekonomi, inflasi dan BI Rate menggangu keseimbangan profitabilitas namun dalam jangka panjang kembali pada tingkat keseimbangannya. Diperlukan pengintegrasi strategi kebijakan BPRS dalam mengelola permodalan dan risiko dengan kebijakan pemerintah terkait dengan pertumbuhan ekonomi dan inflasi.

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Faktor-Faktor yang mempengaruhi Penyerapan Tenaga Kerja pada Sektor UMKM di Indonesia: Pendekatan Error Correction Model

Jurnal Samudra Ekonomi dan Bisnis ◽

10.33059/jseb.v12i1.2435 ◽

2020 ◽

Vol 12 (1) ◽

pp. 76-88

Author(s):

A. Azhari

Keyword(s):

Error Correction ◽

Business Management ◽

Error Correction Model ◽

Business Climate ◽

Short Term ◽

Correction Model ◽

Independent Variables ◽

Long Run ◽

Relationship Of

The research aims to examine the short-term and long-term relationship of the MSMEs sector toward absorption employment in Indonesia. The method used is error correction model (ECM). The variables consisted of the number of MSMEs units, GDP and investment as independent variables, and MSME labor as the dependent variable. The data is used from 1996 to 2018. The results show that in the short term the number of MSMEs and GDP has a significant effect on employment in Indonesia; whereas only the number of MSMEs units will affect the employment of the MSME sector in Indonesia in the long run,. MSMEs are expected to increase their capacity in terms of business management. For policymakers and other stakeholders should to create programs in effort to increase the number of MSMEs as well as creating a conducive business climate for MSMEs players in Indonesia.

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ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KONSUMSI DI INDONESIA MENGGUNAKAN ERROR CORRECTION MODEL (ECM) PERIODE TAHUN 1994.1–2005.4

Media Ekonomi ◽

10.25105/me.v19i1.832 ◽

2017 ◽

Vol 19 (1) ◽

pp. 3

Author(s):

Firdayetti SE, MSi ◽

Michel Toni Adrianto

Keyword(s):

Interest Rate ◽

Error Correction ◽

Unit Root ◽

National Income ◽

Error Correction Model ◽

Short Term ◽

Correction Model ◽

Integration Test ◽

The Interest Rate

The aim of the implementation of this research was to know whether the national income, the interest rate of the fixed deposit, and the interest rate of credit had the influence that was significant or not towards consumption in Indonesia, and whether being gotten by long-term and short relations towards consumption. The methodology that was utilised in this research was the Error Correction Model method (ECM) that from the OLS method, with before carried out steps as follows, that is the test, the integration test and the test of the co-integration approach of the unit root. And the data that was used in this research was the secondary data in a kwartalan manner in the period 1994:1 up to 2005:4. Was based on results of the research that was carried out, then could be concluded that results of the test of the unit root, showed all variable was not yet stationary and just was stationary in the level test of the integration. While results of the co-integration test showed the stationary consumption model so as to be able to be carried out by the test of ECM. And the results of the Error Correction Model test (ECM) showed that in the long term the national income variable had the influence that was significant towards consumption. The interest rate of the Fixed Deposit in the long term and short-term did not have the influence on consumption. The interest rate of Credit in the long term and short-term also did not have the influence that was significant towards consumption.Keywords :Real Consumption, Real GDP, Deposit Interest Rate, Credit Interest

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