scholarly journals Kontribusi Pasar Saham Syariah Terhadap Pertumbuhan Ekonomi Indonesia

2019 ◽  
Vol 9 (2) ◽  
pp. 78-86
Author(s):  
Binti Shofiatul Jannah
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Gross Domestic Product ◽  
Error Correction ◽  
Stock Exchange ◽  
National Income ◽  
Error Correction Model ◽  
Stock Index ◽  
Domestic Product ◽  
Correction Model

Contribution of the Islamic Stock Market to Indonesia's Economic Growth. This study aims to investigate the contribution of the development of the Islamic stock market to Indonesia's economic growth. Gross domestic product (GDP) is the market value of all goods and services produced by a country in a certain period. GDP is one method for calculating national income. The Islamic stock index used is the Jakarta Islamic Index (JII) which has long standing. Therefore, the research sample consists of the JII (Jakarta Islamic Indexs) and GDP (Gross Domestic Product). The research period is approximately 16 years of observation ranging from 2000 to 2016. Data was obtained from publications on the IDX (Indonesia Stock Exchange) website, OJK (Otoritas Jasa Keuangan) and BPS (Badan Pusat Statistik). Some tests such as the root unit test, cointegration test and Error Correction Model are used to test data. The statistical test tool used was Eviews 9. The Error Correction Model results show that the Islamic stockl market does not affect long-term economic growth.  

scholarly journals Analysis of Stock Market Integration Among ASEAN Countries by Using Vector Error Correction Model (VECM) Approach

2020 ◽  
Author(s):  
Reni Lestari
Keyword(s):  
Stock Market ◽  
Error Correction ◽  
Stock Exchange ◽  
Error Correction Model ◽  
Stock Index ◽  
Vector Error Correction Model ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error

Globalization has driven the economy of countries to relate to each other. It brings relationships in the capital among countries in the world, especially in ASEAN region countries. This study aimed to analyze the integration of the stock market among countries in the ASEAN region. The stock market was analyzed are the Indonesia Stock Exchange, Malaysia Stock Exchange, Singapore Stock Exchange, Thailand Stock Exchange, Vietnam Stock Exchange, and Philippine Stock Exchange. This study using the Vector Error Correction Model (VECM) as the method. The result of this study shows that, in the long term Singapore Stock Index (STI), Malaysia Stock Index (KLSE), Philippines (PSEi), and Indonesia Stock Index (JKSE) are positively correlated. This means the change of stock index price in one country will affect other related countries in the long term. In the short term of VECM estimation, found the Vietnam Stock Index (VNI), Singapore Stock Exchange (STI), Philippine (PSEi) are positively correlated and negatively correlated with Thailand Stock Exchange (SET). For the managerial implication, the result of this study is expected as a reference or basis of consideration of investment decisions. This because long-term stock market movements are important because they impact international portfolio management and risk diversification.

scholarly journals Spatial Redistributions of Regional Economic Activity in Central Java (Direct Error Correction Model Causality Approach)

2020 ◽  
Vol 21 (1) ◽  
pp. 1-13
Author(s):  
Jihad Lukis Panjawa ◽  
Bhimo Rizky Samudro
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Error Correction Model ◽  
Spatial Inequality ◽  
Domestic Product ◽  
Correction Model ◽  
Regional Autonomy ◽  
Central Java ◽  
Observation Period

This study analyzes spatial inequality through a causal relationship between inequality and economic growth within-recidency, between-recidency and overall in Central Java.The analytical tool used is the Direct Error Correction Model causality. This study shows that spatial concentrations throughout the observation period are quite high. In the 2001-2008 period there was an increasing tendency for spatialconcentration, reflecting the decline in the distribution of the Gross Regional Domestic Product (GRDP) share of districts and cities in Central Java. We also obtained similar findings in a number of regions both within and between-recidency. Post-2008, spatial concentration tends to decrease, indicating the distribution of the Gross Regional Domestic Product share. Other findings indicate a one-way relationship shown economic growth towards inequality. Another important contribution is that economic growth in inequality only occurs in the long term. Thus there has been convergence because of the increase ineconomic growth which is able to reduce inequality in all areas of Central Java, including within and between-recidency. This proves that during the implementation of regional autonomy there is a spread effect greater than the backwash effect in Central Java, including within and between-recidency.

scholarly journals Effect of Price Determinants on World Cocoa Prices for Over the Last Three Decades: Error Correction Model (ECM) Approach

2013 ◽  
Vol 29 (3) ◽  
Author(s):  
Lya Aklimawati ◽  
Teguh Wahyudi
Keyword(s):  
Exchange Rate ◽  
Gross Domestic Product ◽  
Error Correction ◽  
Error Correction Model ◽  
Domestic Product ◽  
Short Term ◽  
Correction Model ◽  
Significance Level ◽  
Long Run ◽  
Price Determinants

High  volatility  cocoa  price  movement  is  consequenced  by  imbalancing between power demand and power supply in commodity market. World economy expectation and market  liberalization would lead to instability on cocoa prices in  the  international  commerce.  Dynamic  prices  moving  erratically  influence the benefit  of market players, particularly  producers. The aim of this research is  (1)  to  estimate  the  empirical  cocoa  prices  model  for  responding  market dynamics and (2) analyze short-term and long-term effect of price determinants variables  on cocoa prices.  This research  was  carried out by  analyzing  annualdata from 1980 to 2011, based on secondary data. Error correction mechanism (ECM)  approach was  used  to  estimate the  econometric  model  of  cocoa  price.The  estimation  results  indicated  that  cocoa  price  was  significantly  affected  by exchange rate IDR-USD, world gross domestic product,  world inflation, worldcocoa production, world cocoa consumption, world cocoa stock and Robusta prices at varied significance level from 1 - 10%. All of these variables have a long run equilibrium relationship. In long run effect, world gross domestic product, world  cocoa  consumption  and  world  cocoa  stock  were  elastic  (E  >1),  while other  variables  were  inelastic  (E  <1).  Variables  that  affecting  cocoa  pricesin  short  run  equilibrium  were  exchange  rate  IDR-USD,  world  gross  domestic product,  world  inflation,  world  cocoa  consumption  and  world  cocoa  stock. The  analysis  results  showed  that  world  gross  domestic  product,  world  cocoa consumption  and  world  cocoa  stock  were  elastic  (E  >1)  to  cocoa  prices  in short-term.  Whereas,  the  response  of  cocoa  prices  was  inelastic  to  change  of exchange rate IDR-USD and world inflation.Key words: Price determinants, cocoa, Error Correction Model, demand, supply, stock

scholarly journals Determinan Ekspor Di Indonesia

2020 ◽  
Vol 4 (2) ◽  
pp. 307-317
Author(s):  
Fanny Septina
Keyword(s):  
Foreign Direct Investment ◽  
Exchange Rate ◽  
Gross Domestic Product ◽  
Error Correction ◽  
Direct Investment ◽  
Oil And Gas ◽  
Error Correction Model ◽  
Domestic Product ◽  
Correction Model ◽  
Us Dollar

ABSTRACTThis study aims to explore macroeconomic factors that affect non-oil and gas exports in Indonesia. The research data are non-oil and gas export data, Gross Domestic Product, inflation, US dollar exchange rate, foreign direct investment in the 2010-2019 period published by Bank Indonesia statistics. The research method uses the Vector Error Correction Model (VECM) analysis with the Augmented Dickey Fuller (ADF) stationary test, Johansen's cointegration test, Granger causality test, Error Correction Model. The results showed there was a cointegration relationship between all dependent and independent variables, a direct relationship with the US dollar exchange rate and inflation on Gross Domestic Product, Gross Domestic Product on exports. In the short term Gross Domestic Product, inflation, exchange rates, and foreign direct investment have no significant effect on non-oil and gas exports. In the long run, Gross Domestic Product has a significant effect on non-oil and gas exports.Keywords: non-oil export, macroeconomy, cointegration, causality, error correction model

scholarly journals Cointegration Analysis and Forecasting of the Export Function of Bangladesh Using the Error Correction Model

2020 ◽  
Author(s):  
K M Saemon Islam ◽  
Gautam Kumar Biswas
Keyword(s):  
United States ◽  
Gross Domestic Product ◽  
Error Correction ◽  
Correction Term ◽  
The United States ◽  
Error Correction Model ◽  
Cointegration Analysis ◽  
Domestic Product ◽  
Correction Model ◽  
The Relationship

Abstract In this paper, we examined the relationship between the growth of the Gross Domestic Product of the United States, the export value index, and the export of Bangladesh over 37 years between 1980 and 2016. The results of our preliminary tests showed that there was indeed a long-run relationship between these variables. Based on our preliminary analysis, we employed an error-correction model to identify the relationship between the variables. The error-correction term with the expected negative sign was statistically significant, and it confirmed that in the case of disequilibrium, the convergence towards the equilibrium happened in the subsequent periods. Additionally, the econometric estimates exhibited that the two-period lagged values of the growth in export of Bangladesh and the growth of the Gross Domestic Product of the United States were also statistically significant.JEL Classification: C22, C5, F41

scholarly journals PENGARUH PERTUMBUHAN PDB DAN INFLASI TERHADAP PERTUMBUHAN PERBANKAN SYARIAH DI INDONESIA PERIODE TAHUN 2013-2015

2020 ◽  
Vol 6 (4) ◽  
pp. 763
Author(s):  
Amri Ahmadi ◽  
Sri Herianingrum
Keyword(s):  
Gross Domestic Product ◽  
Error Correction ◽  
Error Correction Model ◽  
Third Party ◽  
Islamic Banking ◽  
Vector Error Correction Model ◽  
Gdp Growth ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error

This research used a quantitative approach, and the aim of research was to find out the estimation, the magnitude of the GDP growth influenced, and the inflation on the growth of Islamic banking in Indonesia. In this research used the VECM (Vector Error Correction Model) with method focused by testing hypotheses.The results showed that GDP variable and Inflation variable was influenced significantly and positively on profits and DPK.Keyword: Gross Domestic Product, inflation, profit, third party funds, VECM.

scholarly journals Impact of conventional banking financing and Islamic banking financing on economic growth 2008-2018

2020 ◽  
Vol 6 (6) ◽  
pp. 1272
Author(s):  
Hasymi Nur Baehaqy ◽  
Eko Fajar Cahyono
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Significant Relationship ◽  
Sampling Technique ◽  
Error Correction Model ◽  
Islamic Banking ◽  
Vector Error Correction Model ◽  
Correction Model ◽  
Vector Error Correction ◽  
Vector Error

This research aims to know Impact of conventional banking financing and Islamic banking financing on economic growth 2008-2018. In this study the authors used a saturated sampling technique found in Non-Probability Sampling. The analysis technique used is VECM (Vector Error Correction Model). Based on the results of the study indicate that there is a one-way relationship on several variables, namely Conventional Banking Financing to GDP and Conventional Banking Financing to Islamic Banking Financing, In the long run, Conventional Banking Financing has a positive and significant relationship to GDP, whereas Islamic Banking Financing has a negative and significant relationship to GDP.Keywords: Banking Financing, Economic Growth, GDP (Gross Domestic Product), VECM (Vector Error Correction Model)

scholarly journals The Relationship between Tax Revenue and Economic Growth in Nepal: A Co-integration Approach

2018 ◽  
Vol 11 (1) ◽  
pp. 28-36
Author(s):  
Gautam Maharjan
Keyword(s):  
Economic Growth ◽  
Error Correction ◽  
Unit Root ◽  
Unit Root Test ◽  
Error Correction Model ◽  
Series Data ◽  
Tax Revenue ◽  
Correction Model ◽  
The Impact ◽  
The Relationship

The main objective of this paper is to examine the relationship between tax revenue and economic growth in Nepal. The 43 years' annual time series data from 1974/75 to 2016/17 of GDP, tax revenue and nontax revenue have been used to test the causal relationship of the variables. A unit root test, Engle-Granger’s co-integration and Error Correction Model have been applied for the data analysis. The variables have been found stationary after first differencing I(1) when Augmented Dickey-Fuller unit root test is employed. From Engel-Granger test, it has been found that the variables are co-integrated. The short-term coefficients are not significant, however error correction term (ECT) is significant and contains a negative sign in the error correction model (ECM). It validates the ECM model. The ECT has shown that the annual speed of adjustment from disequilibrium to equilibrium is 34.3 percent. So far as the relationship is concerned, there is a long run relationship between tax revenue and economic growth in Nepal controlling the non-tax revenue. The impact of tax revenue on economic growth could be a good impetus for the policy maker and planner to increase the collection of revenue for the country.

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