DAMPAK KEBIJAKAN FISKAL TERHADAP KINERJA SEKTOR PERTANIAN DI SULAWESI TENGGARA

2017 ◽  
Vol 1 (1) ◽  
Author(s):  
La Ode Jabuddin ◽  
Ayub M Padangaran ◽  
Azhar Bafadal Bafadal
Keyword(s):  
Fiscal Policy ◽  
Interest Rates ◽  
Agricultural Sector ◽  
Simultaneous Equations ◽  
Poor People ◽  
Land Area ◽  
Factors Affecting ◽  
Historical Simulation ◽  
The Impact ◽  
Direct Expenditure

This study aims to: (1) Knowing the dynamics of fiscal policy and the performance of the agricultural sector, (2) Analyze the factors that influence fiscal policy and the performance                   of the agricultural sector, and (3) Analyzing the impact of fiscal policy on the performance of the agricultural sector. The data used in this study were pooled 2005-2013 data in the aggregate. Econometric model the impact of fiscal policy on the performance of the agricultural sector is built in the form of simultaneous equations, consisting of 7 equations with 25 total variables in the model, 7 endogenous variables, 12 exogenous variables, and 6 variables lag. The model is estimated by 2SLS method SYSLIN procedures and historical simulation with SIMNLIN procedure.The results showed that: (1) The development of fiscal policy in Southeast Sulawesi from year to year tends to increase, (2) The performance of the agricultural sector from the aspect of GDP has decreased, from the aspect of labor is still consistent, in terms of investment to grow positively, and assign roles which means to decrease the number of poor people, (3) factors affecting fiscal policy is local revenues, equalization funds, other revenues, as well as the lag fiscal policy, (4) the factors that affect the performance of the agricultural sector from the aspect GDP is labor, direct expenditure and GDP lag; from the aspect of labor is the total labor force, investment, land area, direct expenditure, as well as the lag of labor; from the aspect of investment is influenced by GDP per capita, land area, interest rates and investment lag; as well as from the aspect of poor people, are affected by population, investments, direct expenditure and poverty lag, (5). Fiscal policy impact on the agricultural sector GDP increase, a decrease in the number of poor, declining agricultural laborers, and a decrease in the amount of investment in the agricultural sector.Keywords: Fiscal policy, the performance of the agricultural sector, the simultaneous equations

Impact of Fiscal Policy on Agricultural Output in Nigeria

2019 ◽  
Vol 9 (7) ◽  
pp. 1428 ◽  
Author(s):  
Adedoyin Isola LAWAL ◽  
Ernest Onyebuchi FIDELIS ◽  
Abiola Ayoopo BABAJIDE ◽  
Barnabas O. OBASAJU ◽  
Oluwatoyese OYETADE ◽  
...  
Keyword(s):  
Fiscal Policy ◽  
Agricultural Sector ◽  
Time Series Data ◽  
Negative Impact ◽  
Capital Expenditure ◽  
Research Work ◽  
Estimation Method ◽  
Series Data ◽  
Agricultural Output ◽  
The Impact

This study examines the impact of fiscal policy on agricultural output in Nigeria using the most recent official data. The metrics for fiscal policy is government capital expenditure and custom duties on fertilizer. The study used annual time series data obtained from CBN annual statistical bulletin, NCS, and FIRS which was found to be stationary at the order of I(1) and I(0). The order of unit root test led to the use of ARDL estimation method employed in the empirical analysis of this research work. The study found evidence of both short and long run relationship between the variables (VAO, GEX, IDMF, and ACGSF) using both Johansen co-integration and ARDL Bounds test. Although government expenditure (GEX) to agricultural sector was found to be statistically insignificant which recommend that government should increase agriculture capital expenditure to ensure that its contribution is significant. Consequently, custom duties on fertilizer (IDMF) was found to be negatively signed and significant indicating a negative impact on agricultural output. This demands that the policy makers should be prudent in the use of fiscal policy instrument in achieving its desired objective.

scholarly journals The Impact of Government Debt Issuance on Short-Term interest rates in Indonesia

2009 ◽  
Vol 11 (3) ◽  
pp. 301
Author(s):  
Sri Adiningsih
Keyword(s):  
Fiscal Policy ◽  
Private Sector ◽  
Financial Markets ◽  
Interest Rates ◽  
Budget Deficit ◽  
Negative Impact ◽  
Government Debt ◽  
Crowding Out ◽  
Short Term ◽  
The Impact

This paper analyzes whether the expansionary fiscal policy funded by issuing debt instruments in financial markets will increase short-term interest rates. If  the expansionary fiscal policy increases interest rates, which decrease private spending especially investment, crowding out occurs. This is interesting because global economic crisis has encouraged many countries to run large budget deficits to stimulate the economy. Indonesia has also run budget deficit during this crisis and even in years before. The impact of such a policy can be significant because Indonesia’s debt market is still narrow and shallow. Therefore, its capability of absorbing the government debt instruments without influencing the private sector funding is limited. This study tests whether the crowding out occurs in Indonesia using a time series econometric model inspired by Cebula and Cuellar’s model. The Cointegration Regression and Error Correction Model (ECM) are used in this study. Monthly data from April 2000 to December 2008 are used for overnight real interbank call money interest rates, real net government bond issues in trading, real narrow money supply, real rate of one-month Certificate of Bank Indonesia, growth of Gross Domestic Product, and real net international capital flows. This empirical study shows that the crowding out problem occurred in Indonesia during the period. This indicates that financing budget deficit in Indonesia by issuing debt instruments in the financial markets has a negative impact on the private sector.

scholarly journals O Impacto da Política Fiscal nos Spreads dos Países Emergentes

2012 ◽  
Vol 10 (1) ◽  
pp. 31
Author(s):  
Katia Rocha ◽  
Ajax Moreira
Keyword(s):  
Fiscal Policy ◽  
Interest Rates ◽  
Emerging Market ◽  
External Shocks ◽  
Sovereign Spreads ◽  
Relevant Role ◽  
Fiscal Austerity ◽  
The Impact ◽  
Fiscal Policy Sustainability ◽  
Budget Surplus

Country risk or sovereign spreads affect directly the investment of companies and sovereigns, being an important figure to domestic interest rates and to economic growth. This paper analyzes the impact of fiscal policy on the determinants of the sovereign risk of 23 emerging market countries between 1995-2008. The results associate lower spreads to fiscal austerity, i.e. an accumulation of primary budget surplus that keeps the debt to GDP ratio constant over time. An increase of 1% on primary budget surplus decreases the spreads around 50 basis point. It evidences that fiscal policy sustainability plays a relevant role in determining the sovereign spreads besides contributing as a policy that mitigates external shocks.

scholarly journals DAMPAK KEBIJAKAN IMPOR DAN FAKTOR EKSTERNAL TERHADAP KESEJAHTERAAN PRODUSEN DAN KONSUMEN BAWANG MERAH DI INDONESIA

2019 ◽  
Vol 2 (1) ◽  
pp. 38-53
Author(s):  
Ayu Fitriana, Bonar M. Sinaga, Hastuti
Keyword(s):  
Interest Rates ◽  
External Factor ◽  
Simultaneous Equations ◽  
Import Quota ◽  
Producer Price ◽  
Import Tariff ◽  
World Price ◽  
Policy Objectives ◽  
The Impact ◽  
Production Demand

Shallot is the main priority commodity in the development of lowland vegetable in Indonesia. Demand for shallot increases every year but domestic shallot production is unable to meet the demand. Therefore, import of shallot is needed to cover the gap. On the other hand, the import policy also has changed by government in accordance with the policy objectives. The research objectives are (1) to identify the factors that influence the production, demand, import, and price of shallot; (2) to analyze the impact of import tariff, import quota, and the external factor on supply, demand, and price of shallot; and (3) to analyze the impact of import tariff, import quota, and the external factor on shallot producers and consumers welfare in Indonesia. In order to address these objectives, a simultaneous equations model of Indonesian shallot trade was estimated by Two Stage Least Squares (2SLS) method. The shallot production is influenced by the real producer price of shallot, harvested area, and credit interest rates. This research indicates that the increase of shallot import tariff will increase the shallot prices, producers welfare, government revenues and net welfare, but it decrease supply, demand, import, and consumers welfare. To anticipate the decrease of world price of shallot (12 percent) and to increase the shallot producers and net welfare in Indonesia, government of Indonesia is suggested to restrict the shallot import by imposing import tariff (more than nine percent) or decrease import quota.

scholarly journals Debt and Economic Growth in South Asia

2001 ◽  
Vol 40 (4II) ◽  
pp. 677-688 ◽  
Author(s):  
Rehana Siddiqui ◽  
Afia Malik
Keyword(s):  
Developing Countries ◽  
Interest Rates ◽  
South Asian ◽  
Low Income ◽  
Income Country ◽  
Asian Countries ◽  
Factors Affecting ◽  
Low Income Country ◽  
Major Factors ◽  
The Impact

After 1980s, in most developing countries, the rate of debt accumulation and increase in debt servicing are highlighted as major factors affecting the growth rate of output. Most of these countries lost their competitiveness in the international market mainly as a result of insufficient exchange rate adjustments. In addition, the weakening of terms of trade, economic mismanagement and crisis of governance also lowered growth rates in the developing countries. The downward pressure was larger in the countries facing higher debt burden as these countries faced higher interest rates, decline in the external resource inflow, lower export earnings, lower domestic output and lower imports. In case of South Asian countries, the external debt scenario has changed over time. According to World Bank (2001) Pakistan’s ranking worsened to ‘severely-indebted low income country’ from ‘moderately-indebted low income country’ in 1997, where as India’s ranking improved to ‘less indebted low income’ country from ‘moderately indebted’ in 1997. The rapid accumulation of debt, rising repayment burden and the economically and politically resource inflow or rescheduling motivated rescheduling of debt (as in case of Pakistan) has raised concerns regarding the impact of debt on the growth process of the South Asian countries.

scholarly journals THE IMPACT OF THE MONETARY - FISCAL POLICY MIX ON INVESTMENTS OF EURO AREA COUNTRIES IN THE CONTEXT OF THE FINANCIAL CRISIS

2012 ◽  
Vol 8 (1) ◽  
pp. 228-236
Author(s):  
Joanna Stawska
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Interest Rates ◽  
Euro Area ◽  
Debt Crisis ◽  
Policy Mix ◽  
Monetary Authorities ◽  
Recent Financial Crisis ◽  
The Impact

The study presents the impact of monetary-fiscal policy mix on economic growth, mainly for the investments of euro area in financial crisis. Fiscal policy and monetary policy play an important role in the economy, influencing each other and on a number of economic variables as well. In the face of the recent financial crisis, which turned into a debt crisis, fiscal and monetary authorities have been working together to revive economic activity. There was a significant economic impact on the level of government investments. The central bank kept interest rates at very low levels and used nonstandard instruments of monetary policy. Fiscal authorities have increased government spending to stimulate investment and economic recovery. The paper concludes that the management of the fiscal and monetary authorities in a crisis situation has been modified compared to the period before the crisis, when the coordination of these policies was clearly weaker.

scholarly journals The factors affecting accessibility to credit capital of small and medium enterprises in Vietnam

2019 ◽  
Vol 15 (6) ◽  
pp. 15-25
Author(s):  
Phung The Dong ◽  
Nguyen Thi Hong Nham
Keyword(s):  
Interest Rates ◽  
Small And Medium Enterprises ◽  
Probit Model ◽  
Bank Loans ◽  
Bank Loan ◽  
Factors Affecting ◽  
Business Loan ◽  
The Government ◽  
Medium Enterprises ◽  
The Impact

The difficulty in accessing loans is one of the major barriers to the development of small and medium enterprises (SMEs) in Vietnam. Low accessibility to capital forces SMEs to spend both official and unofficial costs in order to obtain loans, and/or to access the unofficial market at higher interest rates, thereby increasing cost of production of enterprises. Studies suggest that the determinants of bank loan processing through which small and medium enterprises can access official loans include: characteristics of enterprises; indicators, reflecting the performance of enterprises; characteristics of loans; characteristics of enterprises, enterprise owners; geographical position of enterprises; the creditworthiness of enterprises and the role of the network.Purpose of the study.The aim of this paper is the quantitative analysis of the factors, affecting accessibility to credit capital of small and medium enterprises in Vietnam.Materials and methods.This study was conducted on the basis of a survey in December 2017. The survey includes 301 enterprises in Hanoi city. Selected enterprises are also enterprises, surveyed in the annual enterprise survey by the General Statistics Office of Vietnam. This paper uses the Probit and Logit regression approach to estimate the impact of factors, affecting the disbursement probability of a loan of an enterprise. The number of SMEs accounts for 56.69% of the samples. The number of enterprises, applying for a bank loan accounts for 58.4% of the total samples, of which the percentage of disbursed loans for SMEs accounts for only 47.3%. For enterprises without a bank loan, eliminating the reasons for the lack of demand and unwish to be in debt, the main reasons not to access bank loans are high interest rates, complicated loan procedures and insufficient collateral.Results.The results obtained from the Logistic and Probit models show that the estimated coefficients are statistically significant, affecting the probability of taking a business loan, accepted by financial institutions. Although the coefficients, estimated from Logistics model are larger than those estimated from the Probit model, the estimated results show that the direction of impact of the variables in two estimation techniques gives quite similar results.Conclusion.Based on the results of this study, the Government of Vietnam should implement policies to support SMEs in the direction of improving their access to capital. The credit institutions should design products and services suitable to the characteristics of SMEs in Vietnam.

Wars, public finances and interest rates for rural lending: evidence from 19th-century Lima

2019 ◽  
Vol 80 (2) ◽  
pp. 153-172
Author(s):  
Luis Felipe Zegarra
Keyword(s):  
Interest Rates ◽  
Agricultural Sector ◽  
Political Instability ◽  
Primary Sources ◽  
Content Type ◽  
Rural Credit ◽  
National Archives ◽  
The Cost ◽  
The Impact

Purpose The purpose of this paper is to analyze the effect of political instability on rural credit in Lima between 1835 and 1865. In particular, it explores the effects of wars on interest rates for the agricultural sector. Design/methodology/approach The paper relies on primary sources for the study of the early credit market of Lima. In particular, the study relies on a sample of more than 800 notarized loans for 1835–1865, collected from the National Archives of Peru, to determine the effect of wars on the cost of credit. Findings The evidence shows that wars increased interest rates on rural loans and that the impact of wars on the cost of credit was greater when the State lacked fiscal resources. Political instability made funding more costly for landlords and farmers, especially in the late 1830s and early 1840s. Originality/value This paper is one of the few historical studies on the role of wars on rural credit in Latin America. It contributes to our understanding of the linkages between political instability and financial development.

scholarly journals Choosing the Appropriate Amount of Mortgage Loan: Risk Based Decision Making

2016 ◽  
Vol 8 (11) ◽  
pp. 12
Author(s):  
Suleyman Gokhan Gunay ◽  
Kasirga Yildirak
Keyword(s):  
Interest Rates ◽  
Cash Flows ◽  
Mortgage Loan ◽  
Stochastic Interest Rates ◽  
Middle Income ◽  
Historical Simulation ◽  
Stochastic Interest ◽  
Loan Risk ◽  
The Impact ◽  
Made In

<p>The main purpose of this paper is to show the way to conduct a risk based mortgage loan choice process for low and middle income households in Turkey. There are several studies that analyze the impact of buying a house decision on an investor’s portfolio, which consists of house, stocks and bonds. In this study, house is treated as a single investment. The probability of defaults for the cash flows based on mortgage payments, rents, down payment and depreciation are calculated in order to find the amount of mortgage loan for a given rent and maturity. Net present values of cash flows related with buying a house are calculated via stochastic interest rates based on historical simulation. It is found that the amount of mortgage loan can be determined by risk based approach and a rational choice can be made in terms of household risk management.</p>

scholarly journals DAMPAK PERLAMBATAN EKONOMI CHINA DAN DEVALUASI YUAN TERHADAP KINERJA PERDAGANGAN PERTANIAN INDONESIA

2017 ◽  
Vol 20 (3) ◽  
pp. 325
Author(s):  
Jamilah Jamilah ◽  
Bonar M. Sinaga ◽  
Mangara Tambunan ◽  
Dedi Budiman Hakim
Keyword(s):  
Economic Growth ◽  
Agricultural Sector ◽  
Positive Impact ◽  
Raw Materials ◽  
Export Performance ◽  
National Income ◽  
Agricultural Trade ◽  
Simultaneous Equations ◽  
Previous Period ◽  
The Impact

This study aims to analyze the impact of slowing economic growth in China and devaluation of the yuan on the performance of agricultural trade Indonesia. The research used a simultaneous equations model and estimated using the 2-SLS method. The results showed that the trade cooperation Indonesia - China has a positive impact on increasing production, price, investment, consumption, exports, imports, and Indonesia's national income post-CAFTA takes effect over the previous period. China's economic growth led to increased China's exports to Indonesia, but the increase Indonesia's exports to China relatively constant. At the time of CAFTA takes effect, slowing economic growth in China and devaluation of the yuan is expected negatively impact to the performance of the agricultural sector and trade Indonesia, because of the decline in demand for Chinese imports from Indonesia and it caused Indonesian export to China decreased, except for exports of food products, indicating that China's need for food and raw materials for industry. Indonesia's export performance drop will cause the trade of Indonesia deficit higher and destabilizing the economy of Indonesia.

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