KEMAJUAN TEKNOLOGI DAN KECEPATAN PERPUTARAN UANG: STUDI KASUS INDONESIA

2021 ◽  
Vol 10 (1) ◽  
pp. 15
Author(s):  
Mutia Huljannah ◽  
Doni Satria
Keyword(s):  
Payment System ◽  
System Innovation ◽  
Dynamic Relationship ◽  
Clearing System ◽  
Velocity Of Money ◽  
Short Run ◽  
Technological Developments ◽  
The Stability ◽  
The Impact ◽  
Money Circulation

Technological developments and financial innovations, especially in the payment system, have encouraged banks around the world to carry out a number of innovations that have resulted in a new paperless based financial system. The finding that the payment system innovation affects the circulation of money and the stability of the monetary condition of a country, makes this risk possible in Indonesia. By using the error correction model, this study can provide information on the short run dynamic relationship and the impact of payment system innovation represented by non cash payment instruments such as credit cards, debit cards, e-money and payment transaction settlement processes (national clearing system and real time gross settlement) on the velocity of money in Indonesia in the period 2016M1 to 2020M6. The results of the research findings state that the impact generated by the rapid velocity of payment system innovation on the velocity of money circulation is not temporary, this is evidenced by the effect of payment system innovation on the velocity of money circulation which continues over a long period of time.

The long run impact of immigration on labor market in an advanced economy

2015 ◽  
Vol 42 (4) ◽  
pp. 356-367
Author(s):  
Faridul Islam ◽  
Saleheen Khan
Keyword(s):  
Labor Market ◽  
Gdp Per Capita ◽  
Advanced Economy ◽  
Content Type ◽  
Dynamic Relationship ◽  
Long Run ◽  
The Usa ◽  
Short Run ◽  
Per Capita ◽  
The Impact

Purpose – The purpose of this paper is to examine the dynamic relationship among immigration rate, GDP per capita, and and real wage rates in the USA. Design/methodology/approach – The paper implements the Johansen-Juselius (1990, 1992) cointegration technique to test for a long-run relationship; and for short-run dynamics the authors apply Granger causality tests under the vector error-correction model. Findings – The results show that the long-run causality runs from GDP per capita to immigration, not vice versa. Growing economy attracts immigrants. The authors also find that immigration flow depresses average weekly earnings of the natives in the long-run. Originality/value – The authors are not aware of any study on the USA addressing the impact of immigrants on labor market using a tripartite approach by explicitly incorporating economic growth. It is therefore important to pursue a theoretically justified empirical model in search of a relation to resolve on apparent immigration debate.

scholarly journals Daily steps and healthcare costs in Japanese communities

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Shohei Okamoto ◽  
Kazuki Kamimura ◽  
Kenichi Shiraishi ◽  
Kazuto Sumita ◽  
Kohei Komamura ◽  
...  
Keyword(s):  
Physical Activity ◽  
Healthcare Costs ◽  
Physical Inactivity ◽  
Dynamic Relationship ◽  
Long Run ◽  
Japanese Adults ◽  
Quasi Experimental ◽  
Short Run ◽  
One Step ◽  
The Impact

AbstractPhysical inactivity is a pandemic that requires intensive, usually costly efforts for risk reduction of related chronic diseases. Nevertheless, it is challenging to determine the effectiveness of physical activity in healthcare cost reduction based on existing literature. Therefore, this study aimed to investigate the impact of physical activity (daily steps) on healthcare costs utilising the data retrieved from a health promotion project (the e-wellness Project, held in three municipalities in Japan). Evaluating the effects of daily steps, measured by pedometers, on healthcare costs by a quasi-experimental approach among participants aged 40–75 years (about 4000 person-years of observation, between 2009 and 2013), we found that a one-step-increase in the annual average daily step reduced outpatient healthcare costs by 16.26 JPY (≒ 0.11 GBD) in the short run. Based on the assumption of a dynamic relationship between the health statuses in multiple years, the long-run effects of daily steps on healthcare costs were estimated at 28.24 JPY (≒ 0.20 GBD). We determined the health benefits of walking in a sample of middle-aged and older Japanese adults by our findings that an increase in step counts reduced healthcare costs.

scholarly journals The Impact of Macroeconomic Variables on Stock Prices in Kuwait

2019 ◽  
Vol 14 (6) ◽  
pp. 99 ◽  
Author(s):  
Ahmad M. Al-Kandari ◽  
Sadeq J. Abul
Keyword(s):  
Stock Prices ◽  
Stock Exchange ◽  
Oil Prices ◽  
Macroeconomic Factors ◽  
Macroeconomic Variables ◽  
Dynamic Relationship ◽  
Long Run ◽  
Short Run ◽  
Johansen Cointegration Test ◽  
The Impact

The Kuwaiti Stock Exchange was established in April 1977 and is among the oldest stock exchanges in the GCC countries. This study aims to add new evidence about the impact of macroeconomic factors on the Kuwaiti Stock Exchange. It examines empirically the dynamic relationship between the Kuwaiti Stock Exchange Index and the main macroeconomic variables. These variables included M2, the three-month deposit interest rate, oil prices, the US Dollar vs Kuwaiti Dinar exchange rate and the inflation rate. By applying the Johansen cointegration test, together with the Var Error Correction Model (VECM), the study found that there a long-run unidirectional relationship exists between the Kuwaiti Stock Exchange Index and the aforementioned macroeconomic variables. This study also confirmed the existence of a short-run relationship between oil prices and stock prices in Kuwait.

scholarly journals DEVELOPMENT OF THE PAYMENT SYSTEM OF KAZAKHSTAN IN THE CONTEXT OF FINANCIAL GLOBALIZATION

2020 ◽  
Author(s):  
С.Ж. Есенгельдинова ◽  
Т.М. Усенбаев ◽  
С.О. Бозшагулова ◽  
S. Yessengeldinova ◽  
T. Ussenbayev ◽  
...  
Keyword(s):  
Customer Service ◽  
Technology Development ◽  
Payment System ◽  
National Standard ◽  
Public Confidence ◽  
Home Office ◽  
Clearing System ◽  
Self Service ◽  
Money Transfers ◽  
The Stability

В статье отмечается, что на сегодняшний день в условиях глобальных компьютерных телекоммуникационных сетей и технологий развитие платежной системы имеет ключевое значение для обеспечения стабильности финансовой системы страны, эффективного обслуживания и доверия населения к новым продуктам. Авторами статьи рассмотрены вопросы развития технологии электронного банковского обслуживания, в условиях конкурентной борьбы требующие от банков оперативной, безопасной и удобной системы в возможности самообслуживания клиентов из дома, офиса или мультимедийного киоска, эффективного мониторинга в повышении качества обслуживания клиентов. В статье указано, что при стремительном росте безналичных операций важной проблемой остается необходимость реализации программы развития национальной платежной системы Казахстана (НСП). Авторами проведен анализ основных индикаторов платежного рынка, показаны количество функционирующих платежных систем в Казахстане и его участники. Определены количество и суммы транзакций, проведенных через Межбанковскую систему переводов денег (МСПД) и Систему межбанковского клиринга (СМК), денежные переводы из РК за рубеж за последние годы. В статье авторами предложены рекомендации развития платежной системы: реализация программы развития национальной платежной системы Казахстана (НПС), необходимость разработки национального стандарта работы системы, сертификация всех банкоматов и POS-терминалов, криптографическая защита каналов связи, внедрение инноваций, включая бесконтактные платежи с применением банковских карт и технологии NFC, развития интернет-торговли. The article notes that today, in the context of global computer telecommunications networks and technologies, the development of the payment system is of key importance for ensuring the stability of the country's financial system, effective service and public confidence in new products. The authors of the article consider the development of e-banking technology, which in a competitive environment requires banks to have an operational, safe and convenient system for self-service of customers from home, office or multimedia kiosk, effective monitoring in improving the quality of customer service. The article indicates that with the rapid growth of non-cash transactions, an important problem remains in the need to implement the program for the development of the national payment system of Kazakhstan (NPS). The authors analyzed the main indicators of the payment market, showed the number of functioning payment systems in Kazakhstan and its participants. The number and amounts of transactions conducted through the Interbank money transfer system (IMTS) and the interbank clearing system (ICS), money transfers from Kazakhstan abroad in recent years are determined. In the article, the authors offer recommendations for the development of the payment system: implementation of the program for the development of the national payment system of Kazakhstan (NPS), the need to develop a national standard for the system, certification of all ATMs and POS terminals, cryptographic protection of communication channels, introduction of innovations, including contactless payments using Bank cards and NFC technology, development of Internet Commerce.

THE IMPACT OF EXCHANGE RATE, FISCAL DEFICIT AND TERMS OF TRADE ON EXTERNAL DEBT OF PAKISTAN: A Cointegration and Causality Analysis

2011 ◽  
Vol 01 (03) ◽  
pp. 10-24
Author(s):  
Asma Awan ◽  
Nabeela Asghar ◽  
Hafeez ur Rehman
Keyword(s):  
Exchange Rate ◽  
Foreign Debt ◽  
External Debt ◽  
Terms Of Trade ◽  
Fiscal Deficit ◽  
Causality Analysis ◽  
Long Run ◽  
Short Run ◽  
The Stability ◽  
The Impact

The massive debt burden of Pakistan calls for a detailed analysis of trends in the foreign debt levels, its causative factors and implications for economic growth. The present study is an attempt to analyze the relationship between external debt and exchange rate, fiscal deficit and deterioration of terms of trade for the period 1974-2008. Using Johansen approach, the study found significant long-run relationship between external debt and exchange rate and deterioration of terms of trade. The results of the study revealed that fiscal deficit had no significant impact on external debt. In the short-run all the variables failed to establish relationship with external debt. However, the existence of long-run causality was observed and three channels of uni-directional causalities were found actively running from (i) fiscal deficit to external debt, (ii) terms of trade to exchange rate, and (iii) fiscal deficit to terms of trade. Diagnostic test confirmed the validity of the model and CUSUM and CUSUMSQ test revealed the stability of the model.

The relationship between LNG price, LNG revenue, non-LNG revenue and government spending in China: An empirical analysis based on the ARDL and SVAR model

2021 ◽  
pp. 0958305X2110536
Author(s):  
Yuanyuan Hao
Keyword(s):  
Government Spending ◽  
Positive Impact ◽  
Positive Influence ◽  
Distributed Lag ◽  
Dynamic Relationship ◽  
Long Run ◽  
Svar Model ◽  
Short Run ◽  
Tax Hypothesis ◽  
The Impact

The present paper examines the dynamic relationship between liquefied natural gas (LNG) price, LNG revenue, non-LNG revenue and government spending (GOVS) in China using autoregressive distributed lag (ARDL) and structural vector auto-regressive (SVAR) model. The goal of carrying out ARDL and SVAR together is to consolidate and strengthen the consistency of the results obtained from both approaches. ARDL results show that a positive influence relationship between both short-run and long-run LNG prices, LNG revenue, non-LNG revenue and GOVS, but there was no significant relationship between LNG price and GOVS. The SVAR also substantiates the results of ARDL test and provides further insight which shows that long-run fiscal synchronization hypothesis is evidenced between the LNG revenue and GOVS, while spend-tax hypothesis exists in the long-run between GOVS and non-LNG revenue. It is also evidenced that there is a complementary relationship between LNG revenue and non-LNG revenue, but this complementary role is stronger than the substitution role. Since non-LNG revenue has a greater impact on GOVS in the short-run, and the impact of LNG prices and LNG revenue on GOVS in the long-run increases over time, thus, GOVS mitigates the direct impact of non-LNG revenue to some extent, and that an appropriate allocation of spending in the non-LNG industry will have a positive impact on the development of the market economy supporting the Keynesian and spend-tax hypothesis.

scholarly journals The Impact of Applying Time Driven Activity-Based Costing on Improving the Efficiency of Performance in Jordanian Industrial Corporations: A Survey Study

2017 ◽  
Vol 9 (12) ◽  
pp. 24
Author(s):  
Nabil Bashir Al-Halabi ◽  
Yazan Mjahed Al-Mnadheh
Keyword(s):  
Stock Exchange ◽  
Cost Accounting ◽  
Survey Study ◽  
Accounting System ◽  
Activity Based Costing ◽  
Short Run ◽  
Technological Developments ◽  
Managerial Positions ◽  
Cost Accounting System ◽  
The Impact

The paper explored the impact of applying the time driven activity-based costing-TDABC- model (independent variables) on improving the efficiency of performance (dependent variables) in Jordanian industrial corporations. Based on a questionnaire form data from a sample of 73 participants at different managerial positions, from 30 industrial corporations listed in Amman stock exchange (ASE), were gathered and processed using the statistical package of social sciences. The main results showed that there are significant impacts of applying TDABC on improving the efficiency of performance in Jordanian industrial corporations. The main conclusion indicated that TDABC has the ability to benefit from technological developments on the basis of the activities’ charts and reflected on pricing decision making processes in industrial corporations. The research also concluded that senior management and cost accountants of the sample studied did not desire in the short run to change the current cost accounting system due to the additional costs of using the new cost accounting system. The study recommended the application of TDABC in corporations where their operations relied on TDABC’s constituents as proved its impact on reducing costs of products and increasing corporations profitability.

Dietary Vitamin and Stability of Oral Anticoagulation: Proposal of a Diet with Constant Vitamin K1 Content

1997 ◽  
Vol 77 (03) ◽  
pp. 504-509 ◽  
Author(s):  
Sarah L Booth ◽  
Jacqueline M Charnley ◽  
James A Sadowski ◽  
Edward Saltzman ◽  
Edwin G Bovill ◽  
...  
Keyword(s):  
Dietary Intake ◽  
Vitamin K ◽  
High Performance ◽  
Case Reports ◽  
Food Composition ◽  
Dietary Guidelines ◽  
Dietary Vitamin ◽  
Vitamin K1 ◽  
The Stability ◽  
The Impact

SummaryCase reports cited in Medline or Biological Abstracts (1966-1996) were reviewed to evaluate the impact of vitamin K1 dietary intake on the stability of anticoagulant control in patients using coumarin derivatives. Reported nutrient-drug interactions cannot always be explained by the vitamin K1 content of the food items. However, metabolic data indicate that a consistent dietary intake of vitamin K is important to attain a daily equilibrium in vitamin K status. We report a diet that provides a stable intake of vitamin K1, equivalent to the current U.S. Recommended Dietary Allowance, using food composition data derived from high-performance liquid chromatography. Inconsistencies in the published literature indicate that prospective clinical studies should be undertaken to clarify the putative dietary vitamin K1-coumarin interaction. The dietary guidelines reported here may be used in such studies.

Impact of exchange rate and oil price on the yield of sovereign bond and sukuk: Evidence from Malaysian capital market

2017 ◽  
Vol 5 (4) ◽  
pp. 27
Author(s):  
Huda Arshad ◽  
Ruhaini Muda ◽  
Ismah Osman
Keyword(s):  
Exchange Rate ◽  
Capital Market ◽  
Time Series Data ◽  
Oil Prices ◽  
Oil Price ◽  
Series Data ◽  
Sovereign Bond ◽  
Long Run ◽  
Short Run ◽  
The Impact

This study analyses the impact of exchange rate and oil prices on the yield of sovereign bond and sukuk for Malaysian capital market. This study aims to ascertain the effect of weakening Malaysian Ringgit and declining of crude oil price on the fixed income investors in the emerging capital market. This study utilises daily time series data of Malaysian exchange rate, oil price and the yield of Malaysian sovereign bond and sukuk from year 2006 until 2015. The findings show that the weakening of exchange rate and oil prices contribute different impacts in the short and long run. In the short run, the exchange rate and oil prices does not have a direct relation with the yield of sovereign bond and sukuk. However, in the long run, the result reveals that there is a significant relationship between exchange rate and oil prices on the yield of sovereign bond and sukuk. It is evident that only a unidirectional causality relation is present between exchange rate and oil price towards selected yield of Malaysian sovereign bond and sukuk. This study provides numerical and empirical insights on issues relating to capital market that supports public authorities and private institutions on their decision and policymaking process.

Determinants of Inflation in Vietnam: A VECM Approach

2015 ◽  
Vol 22 (04) ◽  
pp. 26-50
Author(s):  
Ngoc Tran Thi Bich ◽  
Huong Pham Hoang Cam
Keyword(s):  
Interest Rate ◽  
Crude Oil ◽  
Error Correction ◽  
Budget Deficit ◽  
Oil Prices ◽  
Crude Oil Prices ◽  
Domestic Credit ◽  
Short Run ◽  
The Impact

This paper aims to examine the main determinants of inflation in Vietnam during the period from 2002Q1 to 2013Q2. The cointegration theory and the Vector Error Correction Model (VECM) approach are used to examine the impact of domestic credit, interest rate, budget deficit, and crude oil prices on inflation in both long and short terms. The results show that while there are long-term relations among inflation and the others, such factors as oil prices, domestic credit, and interest rate, in the short run, have no impact on fluctuations of inflation. Particularly, the budget deficit itself actually has a short-run impact, but its level is fundamentally weak. The cause of the current inflation is mainly due to public's expectations of the inflation in the last period. Although the error correction, from the long-run relationship, has affected inflation in the short run, the coefficient is small and insignificant. In other words, it means that the speed of the adjustment is very low or near zero. This also implies that once the relationship among inflation, domestic credit, interest rate, budget deficit, and crude oil prices deviate from the long-term trend, it will take the economy a lot of time to return to the equilibrium state.

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