Abstract:This study aims to analyze the determinants of rupiah exchange rate volatility and its impact on Indonesia's oil and gas imports. The variables observed in this study are economic growth, interest rates, inflation, rupiah…
h exchange rate volatility and Indonesia's oil and gas imports. All data used in this study are secondary data obtained from 2005 to 2019 time series recordings obtained from the Central Bureau of Statistics, Investing.com and Bank Indonesia. Data were analyzed using the two-stage least squares (2SLS) method in the IBM SPSS Statistics application 23. Based on the analysis results, economic growth was found to have a positive effect and interest rates had a positive effect. negative and significant impact on oil and gas imports due to fluctuations in the rupee exchange rate. Although inflation is negatively correlated, there is no significant impact on oil and gas imports through fluctuations in the rupee exchange rate.
Abstract:The purpose of this study is to analyze the effect of the Federal Funds Rate before and during the Covid-19 pandemic on economic stability in five developing countries in the Southeast Asian region which are members of an…
n economic and geopolitical organization, namely the Association of Southeast Nations (ASEAN) to see short-term relationships. and long-term during that period. The indicators of economic stability used are the benchmark interest rate for deposits, the reference interest rate for loans, the balance of payments which includes exports and imports, inflation, exchange rates, and the money supply. In this study, the method used was the quantitative method and the data obtained was secondary data sourced from International Financial Statistics (IFS) from January 2015 to December 2022 which used the Vector Error Correction Model (VECM) approach in the Eviews 9 application. The results found indicated that in the long run, the existence of FFR volatility has a positive effect on the Deposit and Export Reference Rates. While those that have a negative effect are Loan Reference Rates, Imports, Exchange Rate Inflation, and Money Supply. In the short term, the existence of the FFR interest rate has a positive effect on the Reference Rates for Deposits, Imports, and Inflation. While those that have a negative effect are Loan Reference Rates, Exports, Exchange Rates, and Money Supply
Abstract:This study aims to analyze the role of local government in responding to the influence of inflation and interest rates on gold prices at the Pegadaian Sungguminasa Branch, Gowa Regency. The data used in this research were…
e obtained from the period 2021 to 2023. The study employs a descriptive quantitative method with a case study approach at Pegadaian Sungguminasa Branch. Data were collected through documentation and interviews with relevant parties, including local government officials and Pegadaian management. The results show that fluctuations in inflation and interest rates have a significant effect on changes in gold prices. The local government plays an important role in maintaining economic stability through inflation control policies, improving financial literacy among the community, and collaborating with financial institutions such as Pegadaian to provide safe and productive investment access for the public. This research is expected to serve as a reference for local governments in formulating adaptive economic policies in response to macroeconomic dynamics, particularly those related to gold prices.
Abstract:Knowing the economic condition of society is important to measure the success of a country's economic development. Per capita income, as the average income received by the population, is an indicator of economic welfare.…
The relationship between per capita income, economic growth, and inflation reflects societal well-being. This study analyzes the impact of per capita income and inflation on economic growth in Indonesia from 1998 to 2023. The aim is to determine the effect of per capita income and inflation on economic growth, both partially and simultaneously. The results of multiple linear regression analysis show that per capita income and inflation significantly affect economic growth. Per capita income has a positive impact, while inflation significantly influences economic growth. This study recommends economic policies that consider the effects of per capita income and inflation to promote sustainable economic growth. The research uses a quantitative method with multiple linear regression analysis, using secondary data from BPS and the World Bank. The variables studied are economic growth (dependent variable), per capita income (independent variable X1), and inflation (independent variable X2). Data were collected from documents and annual reports, with validity from official sources and reliability tested over 26 years. Data analysis shows that independent variables affect the dependent variable by 50.9%. The results indicate that per capita income and inflation significantly influence Indonesia's economic growth. Economic policies should consider these two factors to achieve sustainable economic growth.
Abstract:This research investigates the impact of fiscal policy on economic growth in Indonesia. The study was carried out by analyzing the implementation of public expenditure policies, tax reforms and subsidies implemented by the…
he government in several time periods. Macroeconomic data such as Gross Domestic Product (GDP), inflation rate, investment and household consumption are used to evaluate the effectiveness of fiscal policy in responding to domestic and global economic conditions. The findings show that fiscal policy has a significant impact on economic growth, particularly through increasing infrastructure investment and tax incentives for the private sector. However, challenges such as transparent public budget management and long-term policy consistency need to be addressed to maximize the contribution of fiscal policy to inclusive and sustainable economic growth. Policy recommendations include expanding infrastructure investment, further tax reform to increase efficiency, as well as improvements in public budget management. The implication of this research for national economic policy is the importance of maintaining policy consistency and improving inter-institutional coordination to achieve the goal of sustainable economic development in Indonesia.
Abstract:Inflasi merupakan fenomena moneter yang secara langsung mendegradasi nilai riil uang dan melemahkan daya beli masyarakat. Dalam konteks ekonomi Islam, inflasi dievaluasi tidak hanya dari aspek teknis moneter melainkan juga…
ga melalui dimensi etika, keadilan distributif, dan maqashid al-syari'ah. Penelitian ini bertujuan untuk menganalisis dampak inflasi terhadap daya beli masyarakat dalam perspektif ekonomi Islam. Metode penelitian yang digunakan adalah pendekatan kualitatif dengan jenis narrative literature review, yang menyintesis kerangka konseptual dan temuan empiris dari berbagai sumber akademis bereputasi. Hasil penelitian menunjukkan bahwa inflasi memicu redistribusi kekayaan yang tidak adil dan sangat merugikan kelompok berpendapatan tetap serta masyarakat miskin. Ekonomi Islam mengklasifikasikan inflasi menjadi inflasi alamiah (natural inflation) dan inflasi akibat kesalahan manusia (human error inflation), di mana faktor kesalahan manusia didorong oleh korupsi, tata kelola yang buruk, serta distorsi pasar seperti penimbunan (ihtikar), manipulasi harga, dan praktik spekulatif. Guna memitigasi dampak tersebut, ekonomi Islam menawarkan solusi struktural dan moral yang komprehensif, meliputi penyelarasan jumlah uang beredar dengan output sektor riil, penegakan regulasi anti-monopoli, internalisasi perilaku konsumsi yang etis (menghindari israf dan tabdzir), serta optimalisasi instrumen keuangan sosial Islam seperti zakat, infak, sedekah, dan wakaf sebagai jaring pengaman sosial demi menjaga kemaslahatan umat (maslahah).
Abstract:This study aims to examine the short-term and long-term relationships between inflation, exchange rate, BI rate, and GDP on third-party funds (DPK) in Islamic commercial banks. This research uses a quantitative approach…
and secondary data, which consist of 60 monthly observations from January 2020 to December 2024. The analysis tool employed is the Vector Error Correction Model (VECM), with several tests conducted, including the stationarity test, optimal lag test, VAR stability test, cointegration test, Granger causality test, VECM estimation, impulse response function (IRF) test, and forecast error variance decomposition (FEVD) test. The results indicate that inflation has a significant negative effect on DPK in both the short and long term. The exchange rate has no significant effect on DPK in either the short or long term. The BI rate does not affect DPK in the short term, while in the long term, it tends to show a negative effect, though not significant. Gross Domestic Product (GDP) has a significant positive effect on DPK in both the short and long term.
Abstract:Pertumbuhan ekonomi Indonesia yang terus mengalami pasang surut membutuhkan pengelolaan dan kebijakan yang baik untuk meningkatkan pertumbuhan ekonomi. Salah satu kebijakan yang digunakan untuk meningkatkan dan menjaga kestabilan…
estabilan pertumbuhan ekonomi pada suatu negara adalah dengan menggunakan kebijakan moneter (monetary policy). Kebijakan moneter merupakan ilustrasi kebijakan yang digunakan untuk mengatasi permasalahan ekonomi dengan tujuan utama adalah memelihara kestabilan nilai rupiah. Kebijakan moneter juga sebagai senjata untuk mengatur jalannya perekonomian dan khususnya mengendalikan ekonomi makro agar dapat berjalan sesuai dengan yang diinginkan yaitu dengan beberapa instrumen kebijakan moneter yang telah ditetapkan. Untuk dapat mencapai pertumbuhan ekonomi yang tinggi namun tetap stabil maka itu tidaklah mudah jika tidak diikuti oleh kemampuan variabel makroekonomi. Fokus kebijakan moneter dalam stabilitas harga kurang memperhitungkan risiko akibat interaksi sistem keuangan dengan makroekonomi dan macrofinancial linkages. Penggunaan kebijakan moneter berdasar pada Inflation Targeting Framework memang menunjukkan keberhasilan dengan menurunkan tingkat inflasi, mendorong pertmbuhan ekonomi serta menekan tingkat suku bunga, kondisi seperti ini sangat memungkinkan munculnya pertumbuhan kredit berlebih yang menjadi penyebab munculnya moral h azard para pelaku bisnis.
Abstract:This study aims to determine the effect of short-term and long-term macroeconomic factors on the financial performance of Islamic banking in Indonesia. The dependent variables in this study are Return on Assets (ROA), Financial…
nancial to Deposit Ratio (FDR) and Operating Costs of Operating Income (BOPO) as proxies of financial performance. While the independent variables are industrial production index (IPI), inflation, BI rate, composite stock price index (CSPI) and exchange rates. The analytical method used is Vector Error Correction Models (VECM). The data used in this study are monthly time series data from January 2010 - December 2015. The results of the study state that in the long term the influence of the Industrial Production Index (IPI), inflation and exchange rates have a negative and significant effect on Return on Assets ( ROA) and Financial to Deposit Ratio (FDR). Meanwhile, the BI rate and the Composite Stock Price Index (JCI) have a positive and significant impact on Return on Assets (ROA) and Financial to Deposit Ratio (FDR). Industrial Production Index (IPI), inflation and exchange rates have a positive and significant influence on the Operating Cost of Operating Income (BOPO). Meanwhile, the BI rate and the Composite Stock Price Index (JCI) have a negative and significant effect on the Operating Cost of Operating Income (BOPO). The short-term effect of macroeconomic variables on financial performance (ROA, FDR and BOPO) does not show a significant relationship.