ISLAMIC MONEY INSTEAD IMPLICATIONS BASED ON MACROECONOMIC AND SOCIAL VALUE VARIABLES IN INDONESIA

2021 ◽  
Vol 5 (2) ◽  
pp. 273-290
Author(s):  
Eva Misfah Bayuni ◽  
Muhammad Yunus ◽  
Mujahid Mujahid ◽  
Shifa Nurul Fadhilah ◽  
Yusuf Azis Yusrizal ◽  
...  
Keyword(s):  
Exchange Rate ◽  
Secondary Data ◽  
Social Value ◽  
Social Variables ◽  
Macroeconomic Variable ◽  
Vector Autoregressive ◽  
Vector Error Correction ◽  
Vector Error ◽  
The Exchange Rate ◽  
Negative Implication

The purpose of this research is to find out the implications of Islamic Money Instead based on macroeconomic and social variables value in Indonesia. The used data is secondary data of 2010-2019 time series. The method of this research is using Vector Autoregressive and Vector Error Correction Model (VECM). E-views 9 program is used for processing data. The result of this research indicates that there are implications for a variety of Islamic Money Instead in Indonesia based on macroeconomic and social value variables in Indonesia on 1st model. GDP and inflation as macroeconomic variable have positive implication for Islamic Money Instead, meanwhile the exchange rate variable has negative implication on it. On 2nd model there are implications for Islamic Money Instead based on macroeconomic variable. GDP and inflation have positive implication and greater value than the 1st model. While the exchange rate has negative implication and has not a response for Islamic Money Instead shock. Furthermore, the 3rd model indicates that there is positive implication based on social value variable not only for zakat but also infaq shadaqah

scholarly journals The Impact of Bank Indonesia Regulation No. 17/3/2015 on Exchange Rate: Analysis Using Vector Error Correction Model (VECM)

2021 ◽  
Vol 12 (2) ◽  
pp. 131-141
Author(s):  
Muhamad Yudi Setiawan ◽  
Tanti Novianti ◽  
Mukhamad Najib
Keyword(s):  
Exchange Rate ◽  
Error Correction ◽  
Error Correction Model ◽  
Vector Error Correction Model ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Negative Effect ◽  
The Exchange Rate ◽  
The Impact

The weakening of the Rupiah against the US dollar has encouraged Bank Indonesia to issued Bank Indonesia Regulation (Peraturan Bank Indonesia - PBI) No. 17/3/2015. The research aimed to analyze the factors that affected the Rupiah exchange rate, the effect of PBI No. 17/3/2015 on the movement of the Rupiah exchange rate, and the behavior of exchange rate movement to the shocks on the variables that influenced it. The research applied secondary data, namely monthly data from January 2008 to April 2019 taken from reliable sources such as National Development Planning Agency (Bappenas), Bank Indonesia (BI), and Statistics Indonesia (BPS). It was explanatory research with a quantitative approach. The studied data were processed with the Vector Error Correction Model (VECM) method to identify long and short-term effects. The results of the long-term equation show that export-import has a negative effect on the exchange rate. Similarly, inflation has no significant effect on the exchange rate. Then, the money supply has a significantly negative effect on the exchange rate. However, the interest rate of Bank Indonesia positively affects the exchange rate. Next, the implementation of PBI No. 17/3/2015 has a significant and positive impact on the exchange rate. Last, the crisis condition does not affect the changes in exchange rates.

scholarly journals Determinant of The Bitcoin Prices as Alternative Invesment in Indonesia

2020 ◽  
Vol 1 (1) ◽  
pp. 22-29
Author(s):  
Gery Andrean
Keyword(s):  
Exchange Rate ◽  
Quantitative Analysis ◽  
Composite Index ◽  
Secondary Data ◽  
Vector Error Correction Model ◽  
Short Term ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error

The aims of this study to know the determinant that affect bitcoin prices and how bitcoin prices response to the shock from GDP (Gross Domestic Product), inflation, exchange rate, JCI (Jakarta Composite Index. The method that was used in this research was quantitative analysis, with data analysis tools Vector Error Correction Model (VECM). Data used in this research was secondary data taken from Bank Indonesia, Bitcoincharts, and Yahoo Finance. The results of this study showed that (1) inflation in short term and in long term has negative significant effect on bitcoin prices, exchange rate in long term has positive significant effect on bitcoin price. In short term and in the long term GDP and JCI do not have significant effect on bitcoin prices (2) The results of IRF shows bitcoin prices respond negatively shock from GDP and exchange rate, while shock from inflation and JCI responded posifively by bitcoin prices.

scholarly journals Dampak ASEAN-China free trade agreement (ACFTA) terhadap pertumbuhan ekonomi Indonesia

2019 ◽  
Vol 15 (1) ◽  
pp. 1-14
Author(s):  
Azza Ayullah Kusuma
Keyword(s):  
Economic Growth ◽  
Exchange Rate ◽  
Free Trade Agreement ◽  
Secondary Data ◽  
Trade Agreement ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
The Impact

The purpose of this study investigates the impact of ACFTA, Indonesian trade, the exchange rate on economic growth in Indonesia. The data used secondary data during 1997-2016 were sourced from UNCOMTRADE, ASEAN Statistics, and World Bank. The method used is a quantitative approach with vector error correction model (VECM). The findings of this study in the long run show that Indonesian trade, ACFTA has a positive and significant effect on economic growth, while the rupiah exchange rate variable has a negative and significant effect on economic growth

The price of gold and the exchange rate: Evidence from threshold cointegration and threshold granger causality analyses for Turkey

2014 ◽  
Vol 64 (1) ◽  
pp. 91-101 ◽  
Author(s):  
Burak Gürış ◽  
Burcu Kiran
Keyword(s):  
Exchange Rate ◽  
Granger Causality ◽  
Threshold Value ◽  
Threshold Cointegration ◽  
Vector Error Correction ◽  
Exchange Rate Fluctuations ◽  
Vector Error ◽  
The Us ◽  
The Exchange Rate ◽  
Cointegration Relationship

This paper explores the relationship between gold prices and the US dollar/Turkish lira exchange rate between 1990–2011 by using cointegration and Granger causality analyses. The empirical findings indicate that there is a threshold cointegration relationship between the two variables. The threshold value obtained from the estimation of threshold vector error correction model equals −3.268. The Granger test indicates that there is evidence of a bi-directional causal relationship between gold prices and the exchange rate, except when the threshold parameter exceeds the threshold value in the exchange rate equation. According to these findings, gold price can be used as a hedge against the exchange rate. However, since this relationship disappears above the threshold value, gold is only a weak hedge against exchange rate fluctuations.

DETERMINAN PERDAGANGAN LUAR NEGERI CHINA DENGAN AMERIKA SERIKAT

2021 ◽  
Vol 10 (1) ◽  
pp. 31
Author(s):  
Maysindi Badyu Rizki ◽  
Hasdi Aimon
Keyword(s):  
Exchange Rate ◽  
Foreign Trade ◽  
Secondary Data ◽  
National Bureau ◽  
Mechanism Analysis ◽  
Vector Error Correction ◽  
United State ◽  
Vector Error ◽  
Negative Effect ◽  
Bureau Of Labor Statistics

This study explain the long-term determinants of foreign trade between China and the United State. The Data used are secondary data sourced from World Bank, US Bureau of Labor Statistics, US Bureau of Economic Analysis (BEA), National Bureau of Statistics China, with VECM (Vector Error Correction Mechanism) analysis methode. The study shows different result occur between the variabels of China and United State on foreign trade. United State output has a significant negative effect but China’s output has no significant effect on foreign trade between China and the United State. The price level of the United State and China has a significant effect, but has a different direction. The exchange rate of the United State has a significant positive effect on foreign trade between China and the United State and China’s exchange rate not significant and has a negative effect.

Pengaruh Faktor Fundamental, Risiko Sistematis Dan Ekonomi Makro Terhadap Return Saham Syariah Yang Tergabung Di Jakarta Islamic Index (JII) Pada Periode 2010 – 2014

2017 ◽  
Vol 24 (1) ◽  
pp. 54-70
Author(s):  
Hasanah Setyowati ◽  
Riyanti Ningsih
Keyword(s):  
Exchange Rate ◽  
Stock Exchange ◽  
Systematic Risk ◽  
Secondary Data ◽  
Analysis Model ◽  
Macroeconomic Factors ◽  
Return On Equity ◽  
Equity Ratio ◽  
Regression Techniques ◽  
The Exchange Rate

This study aimed to obtain empirical evidence on the influence of fundamental factors, systematic risk and macroeconomics on the returns Islamic stock of companies incorporated in the Jakarta Islamic Index in 2010-2014. The variables used were the fundamental factors that are proxied by Earning Per Share (EPS), Return on Equity (ROE), Debt to Equity Ratio (DER); Systematic risk is proxied by Beta Shares; macroeconomic factors is proxied by the inflation rate and the exchange rate. The samples of this study are the enterprises incorporated in Jakarta Islamic Index (JII) at the Indonesian Stock Exchange. The sampling method was using purposive sampling. There were 12 samples of Islamic stocks that meet the criteria to be used as samples. The analysis model used is multiple linear regression techniques and the type of data used is secondary data. The study found that all variables, which are Earning Per Share (EPS), Return on Equity (ROE), Debt to Equity Ratio (DER), Beta stock, inflation and the exchange rate do not significantly affect the return of sharia stock either simultaneously or partially.

Measuring Dynamic Sales Impacts of LBA Using Wireless Communication Technology

2013 ◽  
Vol 662 ◽  
pp. 896-901
Author(s):  
Zong Jin Liu ◽  
Yang Yang ◽  
Zheng Fang ◽  
Yan Yan Xu
Keyword(s):  
Wireless Communication ◽  
Error Correction ◽  
Communication Technology ◽  
Dynamic Error ◽  
Rapid Development ◽  
Vector Autoregressive ◽  
Vector Error Correction ◽  
Vector Error ◽  
Equilibrium Relationship

Because of rapid development of wireless communication technology, there is an increasing adoption of mobile advertising, such as location based advertising (LBA). To what extent can LBA improve advertising effectiveness is an important topic in the field of wireless communication technology research. Most researches quantify long term impacts of advertisings by VAR (Vector Autoregressive) model. However, compared to VAR model, VECM (Vector Error Correction Model) is a better method in that it allows one to estimate both a long-term equilibrium relationship and a short-term dynamic error correction process. In this study, we employ VECM to explore LBA’s (Location Based Advertising) and PUA’s (Pop-up Advertising) sales impact in both short and long terms. The developed VECM reveals that LBA’s sales impact is about more than2 times as big as PUA’s in short dynamic term and nearly 6 times bigger than PUA’s in long equilibrium term. These findings add to advertising and VECM literatures. These results can give managers more confident to apply wireless communication technology to advertising.

The Effect of Real Exchange Rate on Trade Balance in a Resource-Rich Economy: The Case of Mongolia

2018 ◽  
Vol 53 (4) ◽  
pp. 211-224 ◽  
Author(s):  
Gan-Ochir Doojav
Keyword(s):  
Exchange Rate ◽  
Real Exchange Rate ◽  
Trade Balance ◽  
Developing Economies ◽  
Jel Classification ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
Exchange Rate Depreciation

For resource-rich developing economies, the effect of real exchange rate depreciation on trade balance may differ from the standard findings depending on country specific characteristics. This article employs vector error correction model to examine the effect of real exchange rate on trade balance in Mongolia, a resource-rich developing country. Empirical results show that exchange rate depreciation improves trade balance in both short and long run. In particular, the well-known Marshall–Lerner condition holds in the long run; however, there is no evidence of the classic J-curve effects in the short run. The results suggest that the exchange rate flexibility may help to deal effectively with current account deficits and exchange rate risk. JEL Classification: C32, C51, F14, F32

scholarly journals ANALISIS FAKTOR EKSPOR KENDARAAN CBU RODA EMPAT DAN ENAM DI INDONESIA TAHUN 2015 – 2019

2021 ◽  
pp. 1107
Author(s):  
I Putu Sanpala Dharma Mahendra ◽  
Anak Agung Bagus Putu Widanta
Keyword(s):  
Exchange Rate ◽  
Government Policy ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Oil Prices ◽  
Multiple Linear Regression Analysis ◽  
Industrial Sector ◽  
Government Policies ◽  
Analysis Technique ◽  
The Exchange Rate

The industrial sector can develop with government policies and trade between countries. Industrialization plays an important role in improving the quality of human resources and optimally utilizing natural and other resources. To analyze the effect of government policies partially on exports of four- and six-wheeled CBU vehicles in Indonesia from 2015 to 2019. The purpose of this study is to analyze the effect of the rupiah exchange rate against the US dollar partially and simultaneously on exports of four and six-wheel CBU vehicles in Indonesia in 2015. 2015 to 2019. The type of data used is quantitative data, with the data source being secondary data. The analysis technique used in this study uses multiple linear regression analysis techniques. The results of this study indicate that simultaneously government policy variables, exchange rates, and world oil prices have a significant effect on the value of Indonesia's CBU exports in 2014-2019, and partially government policy variables and world oil prices have a positive and significant effect on Indonesia's CBU exports. While the exchange rate variable has a negative and significant effect on Indonesian CBU. This means that if the exchange rate of the rupiah against the dollar increases or the strengthening of the value of the dollar against the rupiah will cause a decrease in the price of exported goods, the value of export goods will also decrease.

scholarly journals PENGARUH HARGA MINYAK DUNIA TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA (MODERASI VARIABEL MONETER)

2020 ◽  
Vol 2 (3) ◽  
Author(s):  
Wilda Novita Sari ◽  
Ariusni Ariusni
Keyword(s):  
Economic Growth ◽  
Regression Analysis ◽  
Exchange Rate ◽  
Data Analysis ◽  
Secondary Data ◽  
Oil Prices ◽  
Analysis Tool ◽  
Data Analysis Tool ◽  
The Exchange Rate ◽  
The Relationship

Abstract: The purpose of this research is to be able to determine the effect of world oil prices on economic growth in Indonesia by applying the exchange rate moderating variable and the BI rate as a connecting variable. Descriptive and associative research is a type of research that is used with data collection techniques through a trusted official agency website that is classified in the quarterly time series secondary data. The data year in this study was from 2006 to 2018. Data analysis was carried out through descriptive and inductive analysis with a Moderated Regression Analysis (MRA) data analysis tool accompanied by a classic assumption test and a t test. Estimation results show that there are two research results; firstly, that the exchange rate has an effect on moderating the relationship between world oil prices and economic growth in Indonesia, secondly, that the BI rate has no influence connecting world oil prices and economic growth in Indonesia. Keywords: World oil prices, economic growth, exchange rates, BI rate, Moderated Regression Analysis (MRA).

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