2024-03-28T20:24:58Z
https://journal.uii.ac.id/JEP/oai
oai:ojs.jurnal.uii.ac.id:article/2314
2020-03-11T08:41:54Z
JEP:ART
URBAN POVERTY: EVIDENCE FROM LAMPUNG PROVINCE
Rifa'i, Ahmad
One of the big issues in economic development is poverty. This paper models the poverty in Bandar Lampung and Metro cities in Lampung Province for the period of 2002 to 2007. It estimates a linear regression model using secondary data. The results show that per capita income and dependence ratio significantly influence the poverty, and that education level does not significantly influence the poverty. It also uncovers the existence of structural poverty in the area, indicated by the evidence of income in-equality.Keywords: Urban poverty, education, per capita income, dependence ratio, structural povertyJEL classification numbers: I32, R13
Universitas Islam Indonesia
2011-09-30
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/2314
10.20885/ejem.v2i3.2314
Economic Journal of Emerging Markets; Volume 2 Issue 3, 2010; 317-327
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/2314/2112
oai:ojs.jurnal.uii.ac.id:article/4448
2021-09-07T10:02:09Z
JEP:ART
Analysis on Indonesia's beef import
Rudatin, Ari
Beef Import
ECM
Wald Test
F14
F19
This research aims to analyze the effect of imported beef price, per capita income (GDP), and domestic beef price toward the volume of Indonesia's beef import within the period of 1998-2014 by using Error Correction Model (ECM) analysis method. The research result shows that the variables used in this research have significant effect in short term, except per capita income. In long term, all of the variables have significant effect toward beef import. The conducted Wald test displays that restriction is invalid wh
Universitas Islam Indonesia
2016-04-13
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/4448
10.20885/ejem.vol8.iss1.art5
Economic Journal of Emerging Markets; Volume 8 Issue 1, 2016; 65-72
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/4448/3937
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/4579
2023-04-05T01:56:44Z
JEP:ART
Self-esteem, money attitude, credit card usage, and compulsive buying behaviour
Simanjuntak, Megawati
Rosifa, Ambar Susan
credit card
compulsive buying
money attitude
self-esteem
The study aims to analyze the impact of self-esteem, money attitude, and credit card usage behaviour on compulsive buying behaviour of working women. The study usescross sectional design with electronic survey methods (e-survey) involves 60 working women that use credit card. The Pearson correlation and multiple regression analysis are used as statistical tools. The result indicates that power prestige, anxiety, retention-time, and credit card usage behaviour significantly correlate to compulsive buying behaviour. Furthermore, compulsive buying behaviour is positively influenced by credit card usage behaviour. This paper suggests the Indonesian government to provide consumers education on aspects of financial planning and using credit card properly.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/4579
10.20885/ejem.vol8.iss2.art5
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 128-135
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/4579/5765
https://journal.uii.ac.id/JEP/article/view/4579/12352
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/5044
2023-04-05T01:56:44Z
JEP:ART
Transaction cost of micro and small enterprises financing
Sulistya, Ghana Atma
Darwanto, Darwanto
Institutional Economics
Transaction Cost
Micro and Small Entrepreneur
Group Lending
Sequential Exploratory Design
D23
D83
O17
C83
L26
High transaction costs become one of the obstacles for the micro and small enterprises (MSEs) to access financial loans to the bank. In order to minimize the transaction costs, group lending scheme become alternative, so that both sides are pay lower transaction costs, and MSEs are able to improve their welfare. This study aims to analyze the credit process and transaction costs incurred on the model of individuals and groups lending and to compare the magnitude of transaction costs on both models. Mixed Method Analysis is used to analyze the component of transaction costs and the magnitude of the transaction cost on both models.These results indicate there are differences in transaction costs incurred on both schemes. In the amount of the transaction costs, the overall group scheme still allows for greater compared to individual schemes and dominated by the cost of the disbursement. Even so, the transaction cost per member group is much smaller than the individual schemes.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Mixed Method
application/pdf
https://journal.uii.ac.id/JEP/article/view/5044
10.20885/ejem.vol8.iss2.art9
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 171-186
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/5044/5769
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/5593
2023-04-05T01:56:44Z
JEP:ART
Fiscal decentralization effect on economic growth in Bali
Kusuma, Manggar Wulan
Badrudin, Rudy
fiscal
decentralization
finan-cial
growth
government
This study aims to determine the effect of fiscal decentralization on economic growth mediated by financial performance in Bali Province. The source of data employed in this study was secondary data from the financial statement of local government in a counties/city in Bali in 2006 to 2014. The data analysis technique employed in this study was Partial Least Square (PLS). The results show that 1) fiscal decentralization was significantly influential on financial performance measured using the financial independence ratio of local government in Bali; 2) fiscal decentralization was significantly influential on financial performance measured using the ratio of conformity in Bali; 3) fiscal decentralization was significantly influential on economic growth in Bali; 4) financial performance measured using the financial independence ratio of local government had no significant effect on economic growth in Bali; and 5) financial performance measured using the ratio of conformity was significantly influential on economic growth in Bali.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/5593
10.20885/ejem.vol8.iss2.art6
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 136-147
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/5593/5766
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6005
2023-04-05T01:56:44Z
JEP:ART
Modeling the profitability of commercial banks in Indonesia
Wulandari, Tri
Anggraeni, Lukytawati
Andati, Trias
loan
return on asset
return on equity
commercial bank
G21
This study examines the effect of lending on Micro, Small and Medium Enterprises (MSMEs) on the profitability of commercial banks in Indonesia. The profitability is measured as Return-on-Assets (ROA) and Return-on-Equity (ROE). It covers the period of 2011 to 2014 using a panel data regression. It finds that MSME loans have a positive impact on ROE. Other internal factors that significantly influence the profitability of banks are MSME’s NPL (non performing loan), the operational efficiency ratio (OER) and loan-to-deposit ratio (LDR), while external factors that significantly influence the profitability of banks are inflation, Gross Domestic Product (GDP) growth and the Bank Indonesia (BI) rate.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6005
10.20885/ejem.vol8.iss2.art3
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 109-119
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6005/5763
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6214
2023-04-05T01:56:44Z
JEP:ART
The economic aspects of chilli production in Central Java
Bhattarai, Madhusudan
Mariyono, Joko
Chilli production
economic aspects
risk analysis
Central Java
This study analyses the economic aspects of chilli in Central Java where chilli is massively and intensively cultivated. Data for this study is compiled during 2009-2011 in three chilli producing districts: Brebes, Magelang and Rembang. Analyses is conducted using qualitative and quantitative approaches. The results indicate that many important findings related to economic aspects of chilli. There are various ranges of economic aspects across regions. The main findings is that chilli provided positive net returns, has relatively high economic risk and intensive use of chemicals. The policies related to improvement of chilli cultivation need to be formulated based on local specific constraints.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6214
10.20885/ejem.vol8.iss2.art1
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 85-97
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6214/5761
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6218
2023-04-05T01:56:44Z
JEP:ART
Elasticity and competitiveness of Indonesia’s palm oil export in India market
Dewanta, Awan Setya
Arfani, Riza Noer
Erfita, Erfita
Elasticity
Competitiveness
ECM
RCA
palm oil
This study examines the elasticity and competitiveness of Indonsia’s palm oil export in the India market, 1990 -2014. The methods used are Error Correction Model (ECM) and Revealed Comparative Advantage (RCA) approach. The results shows that the price is inelastic in short-term but it is elastic in long-term. The income and exchange rate are elastic in the long-term. There is also a decline in competitiveness in the market India. These findings also demonstrate that palm oil is normal goods and can be easily substituted with the same products of other countries or other vegetable oils. It threatens the Indonesian palm oil competitiveness in the Indian market.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6218
10.20885/ejem.vol8.iss2.art7
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 148-158
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6218/5767
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6219
2023-04-05T01:56:44Z
JEP:ART
Financial constraints and Islamic finance: Lesson learned from external financing perspective
Tohirin, Achmad
Ismail, Mohd Adib
financial constraints
profit-loss sharing
al-musharakah
al-mudharabah
mutual trust.
This study examines the presence of financial constraints and explores the role of profit-loss sharing (PLS) in mitigating the problem of the financial constraints stemmed from the capital market imperfections. Using Malaysian listed companies’ data, this study finds that the financial constraints are present in the capital market. This finding implies the imperfect capital market. In Islamic PLS framework, there are two options of financing contracts that may be enforced in the capital market as financing mechanisms, i.e. al-musharakah and al-mudharabah. These schemes promote sharing of information and mutual trust between financiers and ‘borrowers’. In these contracts, there are strict terms and conditions to be adhered to by both parties so that the contracts pursue to be valid. Besides, PLS mechanism may reduce the cost of capital since the profit and loss are shared rather than be burdened only on one shoulder. In this regard, the imperfect market problems namely asymmetric information, agency problem and transaction cost can be reduced if not be overcome.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6219
10.20885/ejem.vol8.iss2.art2
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 98-108
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6219/5762
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6393
2023-04-05T01:56:44Z
JEP:ART
Validity test of purchasing power parity doctrine: An Indonesian case study
Sidiq, Sahabudin
Herawati, Herawati
purchasing power parity
ex-change rate
undervalued
The goal of this study is to analyze the doctrine purchasing power parity (PPP) in Indonesia with the case study of the rupiah exchange rate to U.S. dollar. The autoregressive is used to estimate the relationship between the change of exchange rate and the difference Indonesia–USA inflation rate. The data used in this study are quarterly data obtained from the International Financial Statistics (IFS) and Bank Indonesia (BI) with the period 1997Q4-2013Q4. The exchange rate that used in this study is using the rate on rupiah to U S dollar. The price data used consumer price index in Indonesia and the United States with a base year of 2000. The results of this study show, that rupiah to the U.S. dollar is undervalued during the free floating exchange rate system and, the PPP doctrine to the case of the rupiah to the U.S. dollar is not valid in the period of this study.
Universitas Islam Indonesia
2016-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6393
10.20885/ejem.vol8.iss2.art4
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 120-127
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6393/5764
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6394
2023-04-05T01:56:44Z
JEP:ART
The individual decision-making process of refugees in Yogyakarta
Brown, Rory John
refugees
asylum seekers
Yogyakarta
Indonesia
sociology
The imminent situation faced by asylum seekers is a crucial factor in understanding their decision making process. This study has adopted Bronfenbrenner’s ecological model to map out the circumfix of influence affecting refugees in Yogyakarta. In particular, this study makes use of rational choice, social strain and migration theory to better understand individual choice. Through the scope of behavioural analysis, this study finds that asylum seekers arriving in Indonesia begin utilising legal avenues of refugee migration and resettlement to a third party state once their ecological setting became more stable.
Universitas Islam Indonesia
2016-09-27
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6394
10.20885/ejem.vol8.iss2.art8
Economic Journal of Emerging Markets; Volume 8 Issue 2, 2016; 159-170
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6394/5768
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6828
2018-12-03T14:16:13Z
JEP:ART
Decomposed total factor productivity of Indonesian rice production
Mariyono, Joko
rice farming
econometric approach
total productivity
decomposition
O13
O33
Q18
Rice is still a staple food for the people of Indonesia. If Indonesia relies on imported rice, it will be very politically vulnerable if there is a shortage of rice supply in the international market. Therefore, the productivity of rice farming should be kept rising in line with the rate of population increase. This paper analyzes the growth of total factor productivity of paddy farming efforts. Total productivity is decomposed into four parts: the advancement of technology, technical efficiency, allocative efficiency and the effect of business scale. If each component of productivity growth is known, it will be determined strategies to increase rice production. Data analysis using secondary data published by the Indonsian Statistics Agency (BPS). Analyses were performed using an econometric approach. The results show that growth in total factor productivity declined with the slowdown. Positive contributor to the growth of total factor productivity is the change in the technical and business scale effects; whereas negative contributor is the technical and allocative efficiency. Growth in rice production is because of growth in the use of inputs and other factors such as the expansion and increase in cropping index. The growth in total factor productivity can be increased by improving technical and allocative efficiencies.
Universitas Islam Indonesia
2018-07-02
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/6828
10.20885/ejem.vol10.iss2.art1
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 121-127
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6828/8624
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6860
2020-07-08T21:08:08Z
JEP:ART
Model keseimbangan umum terapan: Suatu gambaran umum
Susilo, Y. Sri
There are many factors that influence economic situation in a country. One of it is an economic policy. The question is how is the impact of an economic policy on economic situation? Some economists believe that in order to answer the question the most significant tool we can use is what we call Applied Computable General Equilibrium Model.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6860
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 1-10
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6860/6196
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6861
2020-07-08T21:08:13Z
JEP:ART
Kebijakan berorientasi ganda pada industri kelapa sawit: Antara visi kerakyatan dan efisiensi
Suseno, Priyonggo
Crude Palm Oil industry is one of the mature industrial sectors in Indonesia. This industry has been growing since 1939. Unfortunately, this industry still could not grow steadily although government has give incentives to this industry/ The profitable exchange rate (FOB price) of CPO could not raise the export volume.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6861
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 11-22
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6861/6197
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6862
2020-07-08T21:08:19Z
JEP:ART
Pemantapan program pembangunan di era reformasi
Sumodiningrat, Gunawan
Crisis striking Indonesia nowadays is a result of the accumulation of chronic fundamental problems, contagion effect and other complex problems accumulated in the New Order era. Based on the mandate of the People's Consultative Council, government has taken steps to recover the economic condition.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6862
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 23-40
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6862/6198
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6863
2020-07-08T21:08:33Z
JEP:ART
Peran dan intervensi pemerintah dalam perekonomian
Hamid, Edy Suandi
It is widely accepted that government has an important role on economic development. Through policies on public sector for instance, government has a significant role in pushing economic growth. However, in economics literatures, there seems a debate about whether government should role on economic development.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6863
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 41-58
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6863/6199
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6864
2020-07-08T21:08:38Z
JEP:ART
Nasionalisme ekonomi Indonesia dalam era kompetisi global
Alwi, Syafaruddin
However, what we call corruption and nepotism (KKN) is a disastrous mixture to the development. Indonesia has proved it. Many people agree that the crisis has been faced by the Indonesian nowadays was caused by the corruption, collusion and nepotism (KKN) practiced by the New Order. As KKN is proved as an obstacle of the Indonesian development, KKN would also be an obstacle factor for Indonesia in entering globalization and trade liberalization.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6864
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 59-69
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6864/6200
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6865
2020-07-08T21:08:45Z
JEP:ART
Menelusuri wacana pembangunan: Mencari format pembangunan khas negara berkembang
Hartono, Arif
Development concepts in almost of developing countries have been being apdoted from western. Whereas, developing countries have been different background and condition from western in politics, economics, social, culture, history, etc. The implication of that condition, Western concepts shouldn't solve the real problem of development in developing countries. A situation was aggravated by the existence of world relationship that give more advantage to Western/developt countries.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6865
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 70-83
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6865/6201
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6866
2020-07-08T21:08:50Z
JEP:ART
Fundamental ekonomi dan krisis ekonomi Indonesia
Sidiq, Sahabudin
Since July 1997, Asia-Pasific countries have been fighting to handle monetary crisis they face. Among those countries, few countries are able to handlle the crisis relatively quickly while Indonesia seems to have a difficulty in handling the crisis. As this article extends, it happens because the fundamental of the Indonesian economy is less weak rather than those countries.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6866
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 84-91
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6866/6202
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6868
2020-07-08T21:08:57Z
JEP:ART
The social welfare cost of the regional minimum wage increase policy
Saleh, Samsubar
Sejauh ini belum banyak studi yang secara intensif meneliti dampak negatif suatu kebijakan pemerintah, khususnya pada sektor industri pengolahan. Studi yang pernah dilakukan sebelumnya umumnya masih sebatas pada saat terjadi gejolak perekonomian, setelah diumumkannya kebijakan pemerintah. Akibatnya, terjadi kesenjangan antara kebijakan makro pemerintah dengan penyesuaian strategi di tingkat makro.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6868
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 92-101
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6868/6203
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/6869
2020-07-08T21:09:03Z
JEP:ART
Hubungan keuangan pusat-daerah, reformasi perpajakan dan kemandirian pembiayaan pembangunan daerah
Sriyana, Jaka
Decentralisation has become as a new paradigm in the development policy and administration since 1970s. The growing interest of centralised planning is emphasised to the growth policy, and the realization that uneasily development must be controlled from the centre.
Universitas Islam Indonesia
2016-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/6869
Economic Journal of Emerging Markets; Vol 4, No 1 (1999); 102-113
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/6869/6204
Copyright (c) 2016 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/9751
2018-12-03T14:16:13Z
JEP:ART
Determinants of global palm oil demand: a gravity approach
Priyati, Rini Yayuk
Palm oil
trade
gravity model
F14
Q17
This paper reviews the determinants of global palm oil trade using the gravity model. This model helps to explain how the shift in demand for palm oil has affected trade flows among trading partners. We decompose the effects of growth in the regional markets, location, and the reduction in the palm oil price relative to other edible oils, on palm oil exports. We find that standard variables suggested by the gravity literature, such as the growth of GDP, GDP per capita, and location, are indeed important determinants of palm oil trade. Given the preceding results, we simulate whether the economic growth of Indonesia’s trading partners can explain the growth in palm oil export demand from Indonesia. The simulation results for top ten Indonesia’s trading partners suggest that the growth of palm oil imports is a great deal higher than the growth of income for all countries.
Universitas Islam Indonesia
2018-07-02
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/9751
10.20885/ejem.vol10.iss2.art4
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 148-164
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/9751/8625
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10243
2018-12-03T14:16:13Z
JEP:ART
Import competition and local labor markets: the case of Indonesia
Agustina, Fina Sri
import competition
local labor market
Indonesia
This paper analyzes the effects of import competition on Indonesian local labor markets in term of manufacturing employment share, non-manufacturing employment share, unemployment rate, and wages. A rapid increase of globalization has caused many countries including Indonesia experienced a significant increase in imports, which lead to a tougher import competition. Using data of imports and 430 districts in Indonesia in the period of 2007-2013, we found that import competition has negatively affected manufacturing employment share, non-manufacturing employment share, and wages. It also increased unemployment. In addition, the highest impact was mainly driven by imports of consumption goods
Universitas Islam Indonesia
2018-07-02
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
application/pdf
application/pdf
https://journal.uii.ac.id/JEP/article/view/10243
10.20885/ejem.vol10.iss2.art6
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 177-186
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10243/8627
https://journal.uii.ac.id/JEP/article/view/10243/12439
https://journal.uii.ac.id/JEP/article/view/10243/12440
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10333
2018-12-03T14:16:13Z
JEP:ART
A feasibility study of establishing fiscal council in Indonesia
Kuncoro, Haryo
Fiscal Policy Rule
Credibility
Time Inconsistency
Forecasting Error
Stationary Data
E6
H3
H6
In this paper we address the quantitative measurement of credibility in fiscal policy in the case of Indonesia over the period 2001-2016. This preliminary paper focuses on the deviations of the actual budget balances from the projections about these balances in the preceding years. The objective is to extract from these data insights into the credibility of the government fiscal policies. We found that fiscal policy as conducted by government is not perceived as credible. The targets set forward by government are often not met and usually the divergence is on the negative side. Revenue and spending are overestimated, leading to a deficit bias and growing indebtedness of government. Those results suggest feasibility to establish the fiscal council with independent powers to conduct the credible fiscal policy in order to maintain fiscal sustainability in the long-term.
Universitas Islam Indonesia
2018-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/10333
10.20885/ejem.vol10.iss2.art3
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 137-147
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10333/8630
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10677
2018-12-03T14:16:13Z
JEP:ART
Economic agglomeration, economic growth and income inequality in regional economy
Mukhlis, Imam
Hidayah, Isnawati
Sariyani, Sariyani
Economic Agglomeration
Income Inequality
Economic Growth
Gini Ratio
Panel Data
R120
O150
C230
This study has the aims to analyse the relationship between economic agglomeration and economic growth to income inequality that occurs in regional development post-implementation of regional autonomy policy in East Java District / City of Indonesia in the year of 2011-2015. The method of analysis used is Panel Data with Random Effect Model. The result of the research concludes that economic agglomeration has significantly and positively affect on the level of income inequality that occurs in the regional economy. However, economic growth has no significant effect on income inequality in regional economy in East Java Province.
Universitas Islam Indonesia
2018-07-16
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative appraoch
application/pdf
application/msword
https://journal.uii.ac.id/JEP/article/view/10677
10.20885/ejem.vol10.iss2.art9
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 205-212
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10677/8652
https://journal.uii.ac.id/JEP/article/view/10677/12446
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10705
2019-11-02T04:58:54Z
JEP:ART
Continuous flood risk reduction on MSMEs: Implementation of MACTOR program
Continuous flood risk reduction on MSMEs: Implementation of MACTOR program
Isa, Muzakar
Mangifera, Liana
Risk Reduction
Flood
Vulnerability
Stakeholders
MSMSe
Journal of economic
This study aimed at analyzing the vulnerability of an area to flood, identifying the involved stakeholders in the existing institutions, analyzing the significance level and the role of stakeholders in reducing flood risk, and analyzing the relationship among stakeholders in the effort of reducing flood risk in Klaten Regency, Central Java, Indonesia. The data analysis is conducted using indexing, stakeholder analysis based on the MACTOR (Matrix of Alliances and Conflicts: Tactics, Objectives, and Recommendations) program. Findings/Originality: It finds that the vulnerability of the study site is moderate. It also finds some stakeholders that have crucial roles in reducing the flood risk. Their interests can be divided into income, environment, local development and safety. In an effort of reducing the flood risks, Regional Disaster Management Agency along with respective village leaders and volunteers have the central role, while universities have the lowest contribution.
This study aims at analyzing the vulnerability of an area to flood and analyzing the relationship among stakeholders in reducing flood risk for the performance and sustainability of MSMEs in Klaten Regency, Central Java, Indonesia. The analysis is conducted using indexing stakeholder analysis based on the MACTOR (Matrix of Alliances and Conflicts: Tactics, Objectives, and Recommendations) program.Findings/Originality: It finds that the vulnerability of the site is moderate. This condition has an impact on the sustainability of The Micro, Small and Medium Enterprises (MSMEs) in this area. MSMEs will grow well, if they are in areas with low levels of vulnerability to disasters. It also finds some stakeholders that have crucial roles in reducing the flood risk. The stakeholder’s interests can be divided into income, environment, local development and safety. In reducing the flood risks, Regional Disaster Management Agency along with respective village leaders and volunteers play the central role, while universities provide the lowest contribution. These stakeholders have an important role in maintaining and improving the performance of MSMEs in flood-prone areas. The MSMEs have a vital role in supporting economic growth.
Universitas Islam Indonesia
2019-07-04
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Mixed method
application/pdf
https://journal.uii.ac.id/JEP/article/view/10705
10.20885/ejem.vol11.iss1.art12
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 113-121
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10705/9320
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10716
2020-07-03T09:35:34Z
JEP:ART
Financial development and economic growth in Indonesia: An ARDL-Bounds testing approach
Sumarni, Leli
The objective of this paper is to analyze the influence of financial development on economic growth in Indonesia using quarterly time series data for the period of 2005 to 2016. It uses an Autoregressive Distributed Lagged (ARDL-bounds) testing approach to cointegration to estimate the relationships among the variables. The financial development indicators used in this paper are financial credit, financial asset, and third-party funding. Findings/Originality: The results of the ARDL model estimates indicate that the variable is cointegrated and there is a long-run relationship between the variables, and therefore, there is a long-term causal relationship. The long-run estimation results disclose a significant positive relationship between economic growth and financial development, where economic growth is found to be significantly influenced by financial development indicators.
Universitas Islam Indonesia
2019-07-04
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/10716
10.20885/ejem.vol11.iss1.art9
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 89-96
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10716/9290
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10781
2018-12-03T14:16:13Z
JEP:ART
The inclusive economic development model in Sulawesi island
Badrudin, Rudy
Kusuma, Manggar Wulan
Wardani, Ranti Yulia
fiscal decentralization
inclusive economic development model
H72
H75
R11
This study aims to determine whether there is an inclusive economic development in Sulawesi Island. Source data used are secondary data from the financial statements of the Local Government regency and city in Sulawesi Island in 2009-2016. The data analysis technique used is the analysis Partial Least Square were tested using samples 9 different areas. The results showed that 1) general allocation fund has positive effect on capital expenditure; 2) own source revenue has positive effect on capital expenditure; 3) capital expenditure has positive effect on economic growth; 4) economic growth has negative effect on welfare of society; and 5) economic growth has negative effect on poverty
Universitas Islam Indonesia
2018-07-02
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/10781
10.20885/ejem.vol10.iss2.art2
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 128-136
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10781/8623
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10802
2018-12-03T14:16:13Z
JEP:ART
Macroeconomic effect and risk-taking behavior in a dual banking system
Fakhrunnas, Faaza
Dari, Wulan
Mifrahi, Mustika Noor
Risk-taking behavior
Macroeconomic Factors
Dual banking system
E00
E42
G00
This study aims to analyze the relationship between macroeconomic factors and risk-taking behavior in a dual banking system. Adopting a panel cointegration approach, this research posits macroeconomic factors as exogenous variables and risk-taking behavior as endogenous variables. With having 468 quarterly-observations consisting of 18 banks in Indonesia during 2010-Q4 to 2017-Q1, it finds that the risk-taking behavior of the banks has a long-term relationship with macroeconomic factors. Moreover, conventional bank has long-term relationship to macroeconomic nonetheless it results inversely to Islamic bank. In terms of bank-specified characteristics, bank size and equity to asset ratio are substantial factors for the banks’ risk mitigation.
Universitas Islam Indonesia
2018-07-02
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/10802
10.20885/ejem.vol10.iss2.art5
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 165-176
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10802/8628
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10804
2018-12-03T14:16:13Z
JEP:ART
Spin-off, market structure, and deposit funds: case in the Indonesian Islamic banking industry
Al Arif, Mohammad Nur Rianto
spin-off
market structure
deposit funds
Islamic banks
The regulator had imposed some Islamic business units to do the spin-off after the enactment of the Islamic banking act (The Act No. 21 of 2008). The aim of this research is going to examine the relationship between spin-off, market structure, and deposit funds. Regression with panel data was using as a tools of analysis. The result shows that there is a difference in deposit funds between the spin-off banks and non-spin-off banks. Besides that, the result also indicates that there is a relationship between spin-off, market structure, and deposit funds in the Indonesian Islamic banking industry. The result implies that the regulator should a policy to accelerate the Indonesian Islamic banking industry.
Universitas Islam Indonesia
2018-07-16
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/10804
10.20885/ejem.vol10.iss2.art7
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 187-193
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10804/8651
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/10977
2019-11-02T04:58:54Z
JEP:ART
On the nexus between exchange rate and income distribution in Turkey: ARDL bound testing analysis
Güzel, Arif Eser
Arslan, Ünal
Exchange rate
Gini coefficient
Bound testing analysis.
O15
F31
O24
If we talk about the importance of variables in economic development, income distribution is not the second to economic growth, especially in emerging countries. These emerging countries are generally characterized by the volatility of exchange rates, especially after most of the countries adopted floating exchange rates system. This paper investigates the impact of an increases in dollar value on income distribution using annual data in the period 1990-2016 for Turkey via an ARDL model and bound testing analysis. In constructing the empirical model, it also considers the impact of GDP per capita on the dependent variable. Findings/Originality: The paper finds that an increase in dollar value leads to a more unequal income distribution in Turkey. The dollar holds an important place in Turkey’s foreign trade. Therefore, the changes in the value of dollar results in significant welfare effects
Universitas Islam Indonesia
2019-04-30
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/10977
10.20885/ejem.vol11.iss1.art1
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 1-7
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/10977/9025
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11085
2019-11-02T04:58:54Z
JEP:ART
Beyond finance: Impact of Islamic finance on economic growth in Pakistan
Nawaz, Huma
Abrar, Maira
Salman, Asma
Bukhari, Syed Muhammad Hassan
Ethical finance
economic growth
Islamic finance
econometric Analysis
Pakistan and Islamic finance
A12
P4
G41
G10
G14
G15
G17
G21
Islamic finance, which may have been considered only in the context of a multitude of trading structures among economists, merits a fresh evaluation in how it dovetails with and supports national economic growth. This study examines the dynamic interaction between Islamic financing and economic growth of Pakistan by employing the unit root test, cointegration test and Granger Causality tests to see whether the Islamic financial system influences the economic growth. For the analysis, time series data of total Islamic financing and real GDP per capita, Islamic financial assets, and population to represent real economic sector were considered. Findings/Originality: This paper finds that a well-functioning Islamic financial system promotes economic growth. It also finds an evidence of a bidirectional relationship between Islamic asset financing and population. It implies that population reinforces Islamic finance, and population attracts Islamic financing.
Universitas Islam Indonesia
2019-04-30
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/11085
10.20885/ejem.vol11.iss1.art2
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 8-18
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11085/9026
https://journal.uii.ac.id/JEP/article/view/11085/12452
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11206
2018-12-03T14:16:13Z
JEP:ART
Meat demand model in Iran: a restricted source-differentiated almost ideal demand system approach
Pourmokhtar, Elham
Moghaddasi, Reza
Nejad, Amir Mohammad
Hosseini, Seyed Safdar
Imported demand
beef
poultry
imports
RSDAIDS model
The gradual disappearance of pastures due to overgrazing of cattle, high cost of meat (red and poultry) and gradual increasing domestic demand, so far, meat imports in Iran have been inevitable to meet domestic needs. In this article, the authors have used RSDAIDS model, the economic factors (meat prices and costs) and non-economic factors (prevalence of diseases) affecting the demand for meat (beef and poultry) during the years 2002-16 have been investigated. The results of this study shed light on Iran consumer preferences with regard to imported meat. This is the first study that analyzes the Iran meat demand differentiated by source.In this study, it was observed that Brazil, United Arab Emirates, Ireland and Turkey were the most gainer from an increase in the size of the imported meat market ofIran. Also, these countries had a competitive advantage compared with other export sources.
Universitas Islam Indonesia
2018-10-02
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/11206
10.20885/ejem.vol10.iss2.art8
Economic Journal of Emerging Markets; Volume 10 Issue 2, 2018; 194-204
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11206/8629
https://journal.uii.ac.id/JEP/article/view/11206/12453
Copyright (c) 2018 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11406
2019-11-02T04:58:54Z
JEP:ART
Growth effect of foreign direct investment: The role of labor market flexibility
Nordin, Nurnaddia
Nordin, Nurhaiza
Mawar, Murni Yunus
Zainudin, Norzalina
Labour market flexibility
growth-effect
foreign direct investment
threshold
J01
This paper deals with the role of the labor market in moderating the growth-effect of foreign direct investment (FDI) in developing countries. FDI has developed rapidly and become the main source of economic growth in developing countries. The purpose of this paper is to examine the role of labor market flexibility in mediating the impact of FDI on economic growth in developing countries. Panel threshold regression analysis proposed by Hansen (1999) is employed to assess the hypothesis of the study. Findings/Originality: The results provide the empirical finding of the role labor market in moderating the growth effect of FDI in developed and developing countries and fill this gap by assessing the role of labor market flexibility as an absorptive capacity in FDI-growth link in developing countries.
Universitas Islam Indonesia
2019-05-03
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
QUANTITATIVE APPROACH
application/pdf
https://journal.uii.ac.id/JEP/article/view/11406
10.20885/ejem.vol11.iss1.art3
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 19-31
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11406/9049
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11452
2019-11-02T04:58:54Z
JEP:ART
Governance and agricultural growth: Evidence from selected developing countries
Ariabod, Aida
Moghaddasi, Reza
Zeraatkish, Yaaghoob
Mohammadi Nejad, Amir
G28
Q13
Q18
Agriculture is a key sector for almost all developing countries. One of the factors influencing agricultural production improvement is government intervention and its important role in improving good governance indicators. This study examines the impact of governance on total agricultural output in developing nations. To address these issues, this paper estimates the panel data regression model. The data of Governance Indicators (GI) is provided by the World Bank. Findings/Originality: The main results suggest a reverse association between overall GI and agricultural growth. In addition, among the six individual GI, control of corruption has the highest impact. It implies that the governance has not addressed the problems in the agricultural sector. On the other hands, the development of agriculture sector is still mainly supported by the economic inputs. It is explained by the evidence that the inputs have positive and significant effect on the value of agricultural production.
Universitas Islam Indonesia
2019-05-24
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/11452
10.20885/ejem.vol11.iss1.art7
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 73-80
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11452/9155
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11470
2019-11-02T04:58:54Z
JEP:ART
The spillover effects of foreign direct investment on labor productivity
Karentina, Riesta
FDI Spillovers
Horizontal Spillover
Backward Spillover
Labor Productivity
International Economics
Foreign Direct Investment
Productivity
This study examines the effect of FDI spillovers, short-term and long-term effects of FDI spillovers on domestic firms’ productivity. It also explores the impact of FDI spillovers on domestic firms’ productivity in different groups of industries based on their factor intensity. Micro-level panel data covering about 20,000 medium and large manufacturing establishments in each year over the period 2010 and 2014 was employed. Findings/Originality: This study suggests that, within the same industry, horizontal spillovers are associated with domestic firms’ productivity: this relationship is negative in the short-term but positive in the long-term. It also demonstrates negative backward spillover effects on domestic firms’ productivity across industries. In addition, this study points out that FDI spillovers affect capital-intensive domestic firms’ productivity.
Universitas Islam Indonesia
2019-05-10
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/11470
10.20885/ejem.vol11.iss1.art4
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 32-45
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11470/9059
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11539
2019-12-02T10:23:24Z
JEP:ART
oai:ojs.jurnal.uii.ac.id:article/11552
2019-11-02T04:58:54Z
JEP:ART
Volatility interdependences in the Saudi stocks market
Eltahir, Yassin Ibrahim
Sallam, Osama Azmi
Osman, Hussien Omer
Klabi, Fethi
Interdependence
stock return variance
M GARCH-VEC
This study attempts to answer whether there is an interaction and volatility between the variances of the stock returns in the Saudi market. The sample represents daily stock prices of five sectors i.e. basic materials, banking, services, food, and transportation (SABIC, Al Rajhi, Etisalat, Almarai, and Al Bahri, respectively) from 2011 to 2016. The study applied the M-GARCH-DVEC methodology to estimate the variances of stock returns considering the interactions of returns. Findings/Originality: The results of the analysis show that there are fluctuations in the returns of stocks due to their interaction, but they are very slight as the results of the general trend of long-term variances. The study concludes that the variances between SABIC and Al Rajhi stocks are more stable compared to those of Etisalat, Almarai, and Al Bahri, which are relatively volatile. The results reveal that the variances in stock market returns are more likely to depend on internal factors.
Universitas Islam Indonesia
2019-06-28
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/11552
10.20885/ejem.vol11.iss1.art8
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 81-88
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11552/9288
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11597
2020-07-03T09:36:38Z
JEP:ART
Macro-economic determinant and interdependence of the stock markets
Rafiq, Asim
Hassan, Shahbib
Co-integration
DCC GARCH
Macro-economic determinants
Panel regression
F15
G15
This study examines the time-varying long-term stock market interdependence between china and the ten emerging economies, using Johansen co-integration and Dynamic Conditional Correlation-Generalized Autoregressive Conditional Heteroskedasticity (DCC GARCH) model. It analyses the dynamic association between the equity markets and the macroeconomic determinants using panel regression analysis. Findings/originality: The results indicate that the Chinese stock market are co-integrated with the stock market of the other emerging markets. It confirms that the relationship between china and the other emerging economies has been increasing over time. It concludes that there is long run interdependence between the Chinese and the other emerging economies. In addition, the results of the panel regression show that macroeconomic determinants have no significant effect on the equity market correlations between China and the ten emerging economies.
Universitas Islam Indonesia
2019-07-04
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/11597
10.20885/ejem.vol11.iss1.art11
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 104-112
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11597/9311
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/11783
2020-07-03T09:36:21Z
JEP:ART
The effect of economic sanctions on the volume of trade in the agriculture sector of Iran and business partners in the EU
Zeraatkish, Seyed Yaghoub
Farahmand, Zahra
sanction
trade
gravity model
EU panel data
Iranian economy was under pressured during the period of international trade sanctions. This paper investigates the effect of the economic sanctions on the bilateral agriculture trade of Iran with ten main trading partners in European Union between 2001 to 2015. A modified gravity model is used as an empirical international trading model and panel data are used for investigating the effect of sanctions. Findings/Originality: In the absence of sanction, the effect of all independent variables, except for population, is as expected by the theory. Under the sanction the effect of GDP and population is lower than those of without sanction. The effect of foreign exchange fluctuation gets more intense during the sanction due to instability of financial sector. Distance, however, is not a significant variable to explain the bilateral trade both in the absence and under the sanction. The weak sanction period lowered the bilateral trade by 7.5 percent lower, but unexpectedly it was 12 percent higher during the strong sanction period.
Universitas Islam Indonesia
2019-07-04
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/11783
10.20885/ejem.vol11.iss1.art10
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 97-103
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/11783/9310
https://journal.uii.ac.id/JEP/article/view/11783/12469
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12259
2019-11-02T04:58:54Z
JEP:ART
Demand for Indonesian cocoa beans in a dilemma: Case study Malaysian market
Dewanta, Awan Setya
Import demand
demand price elasticity
export tax policy
Internasional Economic
Indonesian cocoa industry has been transforming into a processed cocoa exporter by imposing export taxes. The policy has managed to increase exports of processed cocoa and decreased cocoa bean exports. However, overall export value of cocoa commodities (cacao bean and processed cocoa) has a declining trend, where an increase in the export value of processed cocoa has not been able to offset the decline in the export value of cocoa beans. This study evaluates the impact of the cocoa bean export-tax policy on demand for Indonesian cocoa in the Malaysian market using elasticity and ARDL model. Findings/Originality: This study finds that the demand for Indonesian cocoa is short-term in nature, and the volume of Malaysian demand for Indonesian cocoa is rapidly decreasing because cocoa beans is a complement for other cocoa suppliers. These conditions indicate that the quality of Indonesian cocoa does not meet the standard. That is also indicated by the increase in imports of cocoa beans to meet the processing needs of cocoa in Indonesia
Universitas Islam Indonesia
2019-05-17
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/12259
10.20885/ejem.vol11.iss1.art6
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 59-72
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12259/9152
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12324
2020-09-21T09:42:44Z
JEP:ART
Economics of agritourism development: An Iranian experience
Askarpour, Mohammad Hossein
Mohammadinejad, Amir
Moghaddasi, Reza
Agritourism
Multinomial Logit Model
Diversification
Q10
Q13
Z3
Agritourism is known as a means of identification and realization of various on-farm and off-farm attractions existing in rural areas. This study aims at exploring the main determinants of agritourism development in Iran. Data were obtained via field survey and interview with 115 sample farmers from areas currently presenting agritourism services. By using a multinomial logit model, the impacts of theoretically expected variables were estimated. Findings/Originality: Education is the main driver of agritourism development. The programs aiming at increasing the knowledge of farmers regarding different advantages of agritourism should be paid special attention by the government. The result also indicates direct effect of diversified crops and services on probability to get involved in agritourism business. Provision of more crops and services on the farm generates more attraction for tourists and can lead to development of agritourism. In addition, farm size revealed same association, while the age of farmers has an adverse effect on provision of agritourism.
Universitas Islam Indonesia
2020-04-20
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/12324
10.20885/ejem.vol12.iss1.art8
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 93-104
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12324/10187
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/12369
2019-11-02T04:58:54Z
JEP:ART
Competitiveness analyses of Indonesian and Malaysian palm oil exports
Ramadhani, Tri Nugraha
Santoso, Rokhedi Priyo
RCA
RSCA
CMS
competitiveness
palm oil
This study investigates the competitiveness of Indonesian and Malaysian palm oil export with special focus on five major importing countries, namely China, Singapore, India, Pakistan, and Netherlands, from 2001 to 2014. The methods used are Revealed Comparative Advantage (RCA), Revealed Symmetric Comparative Advantage (RSCA) and Constant Market Share (CMS). Findings/Originality: The RCA and RSCA calculations show that Indonesia and Malaysia have positive indices. Yet, Indonesia's RCA and RSCA indices from 2001 to 2014 are higher than those of Malaysia. It demonstrates that Indonesia's palm oil is more competitive than that of Malaysia. Based on CMS calculation, the findings show the following. Firstly, palm oil commodity is influenced by high demand from 2001 to 2014 in five major importing countries. Secondly, both countries have concentrated on the export commodity whose markets have been growing relatively fast. Thirdly, Indonesia's palm oil commodity experiences rapid growth in the selected markets while Malaysia experiences stagnant growth. Overall, Indonesia's palm oil competitiveness is higher than that of Malaysia in five major importing countries.
Universitas Islam Indonesia
2019-05-10
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/12369
10.20885/ejem.vol11.iss1.art5
Economic Journal of Emerging Markets; Volume 11 Issue 1, 2019; 46-58
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12369/9100
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12429
2020-08-24T20:29:14Z
JEP:ART
The relationship between unemployment and immigration with linear and nonlinear causality tests: Evidence from the United States
Aslan, Alper
Altinöz, Buket
Immigration
unemployment
United States
ARDL
causality
Toda-Yamamoto
C23
E20
J15
This paper investigates the relationship between the immigrant population and the unemployment rate in the United States for period from 1980 to 2013. For this purpose, firstly, coefficient of long and short run is estimated by using Autoregressive Distributed Lag (ARDL) method and then, linear and nonlinear causality test are applied. Findings/Originality: According to ARDL test results; there is a positive effect of immigration to the United States on the unemployment rate to in the long run. In other words, while there is no statistically significant relationship between two variables in the short run, an increase in the immigrant population increases the unemployment rate by 0.14 percent in the long run. The bootstrapped Toda-Yamamoto linear causality test results imply that there is no causal relationship between immigration and unemployment. Also, there is no nonlinear relationship between immigration population and unemployment rate in the United States.
Universitas Islam Indonesia
2020-04-08
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
linear and nonlinear Econometric analysis
application/pdf
https://journal.uii.ac.id/JEP/article/view/12429
10.20885/ejem.vol12.iss1.art2
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 13-24
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12429/10060
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/12524
2020-07-03T09:33:31Z
JEP:ART
The causal effects of education on wages: evidence from Kyrgyzstan
Caglayan Akay, Ebru
Oskonbaeva, Zamira
Sacakli-Sacildi, Irem
returns to education
wage distribution
women employee
mincer equation
This sudy uses a Mincerian earnings function to estimate the effect of education and experience on the wages of women working in developed business and trade center of Bishkek, Kyrgyzstan. It employs a robust median regression and M Regression to estimate the fuctions for both public and private sectors. The paper also estimates the fuction using a least squared regression for comparisson. Finding/Originality: The results show that returns to education for women employees in private sector are higher than that of in the public sector. In contrast, the returns to experience for women employees in the public sector are higher than those in the private sector. The study reveals that schooling has strong causal effects on wages. Therefore, the goverment should give sufficient priority to education. Every Som spent in quality education generates strong positive returns for the whole economy. so that Kyrgyz government should put more efforts to enable individuals staying longer in education
Universitas Islam Indonesia
2019-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/12524
10.20885/ejem.vol11.iss2.art6
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 183-194
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12524/9731
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12538
2020-07-03T09:33:31Z
JEP:ART
Willingness to pay and actual purchase decision for organic agriculture products in Vietnam
Luu, Dung Tien
This article aims to investigate the determinants of willingness to pay and the actual purchase decision of organic agriculture products among consumers in Vietnam, one of the emerging markets. The study uses primary survey data of 210 consumers based on the logit and ordered logit regression models. Findings/Originality: The results confirmed that consumers' perceptions of external factors and product attributions, external factors (processing, packaging, and labelling, certification, supply of product), perceived health and nutrition of products, socioeconomic characteristics significantly influence on consumer’s willingness to pay and actual purchase decision for organic foods in the context of Vietnam market. These results of the study provided insights for marketers on the key variables that could be used for promoting more widespread consumption of organic foods in the country.
Universitas Islam Indonesia
2019-09-30
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/12538
10.20885/ejem.vol11.iss2.art1
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 123-134
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12538/9590
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12676
2020-07-03T09:33:32Z
JEP:ART
Do bankruptcy profiles of Islamic banks differ across organizational structure? evidence from Malaysia
Zainudin, Nik Nurul Hidayah Nik
Shahida, S.
Sulaiman@Mohamad, Ahmad Azam
Altman model
Z-score
stability
domestic bank
foreign bank
developmental financial institutions
Malaysian Islamic banks operate in different organizational structures, namely domestic, locally foreign incorporated, and development financial institutions which may have an influence on their stability. This research evaluates the bankruptcy profiles of 19 selected Malaysian Islamic banks from 2010 to 2017 and analyses the insolvency risk associated with the three different organizational structures. Using the Altman’s Z-Score Model (2000), a stability test was conducted. Findings/Originality: the paper finds that, on average, the development financial institutions were the most stable banks, followed by foreign Islamic banks. It also finds that bigger domestic Islamic banks were situated in the safe zone as they had high Z-score values. Furthermore, asset quality ratio contributed to higher Z-score values. An appropriate asset-liability management therefore helps ensure the stability of Islamic banks in Malaysia. An effective macroprudential supervisory regime must also be in place to increase the resilience of the financial system.
Universitas Islam Indonesia
2019-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/12676
10.20885/ejem.vol11.iss2.art7
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 195-212
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12676/9732
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12681
2020-07-03T09:33:32Z
JEP:ART
Determinants of capital expenditure spending in Malaysian palm oil industries: A dynamic panel data analysis
Mohd Hisham, Afza Asyura
Karim, Zulkefly Abdul
Khalid, Norlin
This study aims to investigate the determinants of capital expenditure (capex) for Malaysian palm oil companies listed at Bursa Malaysia. The study uses the dynamic panel data analysis (generalized method of moment) estimation for the sample of 40 palm oil-oriented firms that spanning from year 2000 until 2016. Findings/Originality: The empirical findings revealed that, in the short run and the long run, the capex spending is significantly affected by the cash flow, sale growth, and world crude palm oil price. However, Average Q significantly influences the capex decision in the long run only. Thus, the policy implication from this study suggests that palm oil-oriented firms should take into account the movement of world crude palm oil (CPO) price in designing their capital expenditure strategy. In addition, proper planning for managing firms’ cash flow and sale growth are also important for expanding their capex in future.
Universitas Islam Indonesia
2019-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/12681
10.20885/ejem.vol11.iss2.art9
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 223-233
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12681/9742
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12744
2020-07-03T09:33:31Z
JEP:ART
The impact of fiscal decentralization on economic growth in Indonesia
The impact of fiscal decentralization on economic growth in Indonesia
Ginting, Ari Mulianta
Hamzah, Muhammad Zilal
Sofilda, Eleonora
economic growth
fiscal decentralization
panel data regression
economic growth
fiscal decentralization
panel data regression
O40
E62
C23
Fiscal decentralization was firstly implemented in 2001 and has brought a new era of local autonomy in Indonesia. The objective of fiscal decentralization to local government is to increase the economic growth and public service. This research uses a panel data regression and quadrant analysis method with the data of cluster districts and cities in Indonesia from 2013 to 2018. Findings/Originality: The panel regression estimation shows that fiscal decentralization has a positive and significant effect on economic growth in all clusters. However, the quadrant analysis results show that on average 86.7% of all clusters districts and cities were in quadrant IV which reflects low fiscal decentralization and low economic growth. The implication of the result is that the government should increases the allocation of capital expenditure in local budget to accelerate local economic growth of the districts/cities in all clusters.
Fiscal decentralization was firstly implemented in 2001 and has brought a new era of local autonomy in Indonesia. The objective of fiscal decentralization to local government is to increase the economic growth and public service. This research uses a panel data regression and quadrant analysis method with the data of cluster districts and cities in Indonesia from 2013 to 2018. Findings/Originality: The panel regression estimation shows that fiscal decentralization has a positive and significant effect on economic growth in all clusters. However, the quadrant analysis results show that on average 86.7% of all clusters districts and cities were in quadrant IV which reflects low fiscal decentralization and low economic growth. The implication of the result is that the government should increase the allocation of capital expenditure in the local budget to accelerate the local economic growth of the districts/cities in all clusters.
Universitas Islam Indonesia
2019-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach; regressional panel model; quandrant analysis
application/pdf
https://journal.uii.ac.id/JEP/article/view/12744
10.20885/ejem.vol11.iss2.art3
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 152-160
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12744/9720
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/12793
2020-07-03T09:33:31Z
JEP:ART
Investigating wage bargaining power, wage inequality and industrial structure in Indonesia
Syahnur, Sofyan
Marwan, Marwan
Munzir, Said
Hizir, Hizir
Dawood, Taufiq C.
Wage Bargaining Power
Wage Inequality of Industries
Panel Data Model
J20
L16
This study investigates the bargaining power of labor over wages and the wage inequality among industries based on the industrial structure in Indonesia. It uses a panel data model and secondary data from 2008-2015. This study argues that wage inequality really matters among the industries and tends to enlarge among them despite the existence of the bargaining power of labor over wage. Findings/Originality: The labor bargaining power over wage in Large and Medium Industries still has greater probability to be increased compared to that in Small and Micro Industries. It implies that the wage inequality still matters in the labor market, particularly in the three industrial groups, and tends to enlarge among them. Government has to take care seriously on the industrial structure with regard to wage bargaining power of labor and particularly wage inequality. Moreover, the government should promote fair wage levels between industries and labor of each industrial classification, particularly in developing countries.
Universitas Islam Indonesia
2019-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative Approach
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/12793
10.20885/ejem.vol11.iss2.art4
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 161-172
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/12793/9733
https://journal.uii.ac.id/JEP/article/view/12793/12560
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/13507
2020-07-03T09:33:31Z
JEP:ART
Impact of macroeconomic variables on foreign exchange reserves: A case from Pakistan
Azeem, Muhammad
Khurshid, Muzammil
Granger Causality
Foreign Exchange Reserves
Co-Integration
Capital Account Vulnerability
Current Account Vulnerability
Financial Economics
The study aims to investigate the effect of macroeconomic indicators on foreign reserves in Pakistan. A Vector Autoregressive (VAR) model has been used to estimate Pakistan’s foreign exchange reserves demand from the period of 1984 to 2015. Findings/Originality: The results indicate that macroeconomic variables such as remittances, exchange rate, the ratio of current account deficit to GDP and interest rate differential (measure as opportunity cost) determine the country’s long-run reserves demand function. Whereas, observed results show that demand of foreign reserves is highly sensitive to capital account vulnerability and less responsive to its opportunity cost. The Granger causality analysis shows that the various macroeconomic variables fail to cause reverse causality. It implies that in Pakistan the demand of reserves is driven by macroeconomic stability. The study is helpful for the country’s institutions to boost foreign reserves by controlling macroeconomics indicators.
Universitas Islam Indonesia
2019-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/13507
10.20885/ejem.vol11.iss2.art5
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 173-182
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/13507/9730
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/13516
2020-07-03T09:33:31Z
JEP:ART
Financial development and performance of palm oil industry in Malaysia
Mohd Amin, Syajarul Imna
Abdul-Rahman, Aisyah
Janor, Hawati
Mohd Asri, Abdullah Khairi
Muchtar, Darmawati
The finance-growth nexus is gaining credence among researchers. Growing research interest in developing evidences for different economic sectors has ignited this study to examine the topic in agricultural sector for Malaysia. The analysis focuses on palm oil industry using data for the period 1981 to 2017 using the Autoregressive Distributed Lagged (ARDL-bounds) approach. Financial development measures financial depth, accessibility, efficiency, and stability. Other variables include production factors such as land, labour and capital. Findings/Originality: The findings show that the depth of financial market has positive impact on palm oil industry performance both in the short run and long run, though the depth of the financial institutions only take effect in the long run. Meanwhile the financial accessibility, efficiency and stability have no significant effect on the productivity of the industry. It implies that the equity market development is more relevant to affect the palm oil industry compared to credit market development.
Universitas Islam Indonesia
2019-10-03
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/13516
10.20885/ejem.vol11.iss2.art2
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 135-151
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/13516/9615
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/13664
2020-04-20T20:09:15Z
JEP:ART
oai:ojs.jurnal.uii.ac.id:article/13668
2020-08-24T20:29:14Z
JEP:ART
The effect of the financial crisis on macroeconomic variables in Iraq, Iran, and Turkey
Ahmed, Younis Ali
Rostam, Biaban Nwri
Mohammed, Burhan Ali
Financial Crisis
Macro-economic variables
(ARDL
EGLS and DOLS) Approach
Developing Countries
E0
E3
This study investigates the effect of financial crises on macroeconomic variables that include gross domestic product (GDP), export, inflation, and exchange rates, in some developing countries, namely Iraq, Iran, and Turkey, from 1980 to 2017. In doing so, it performed unit root and cointegration tests and employed generalized least square and panel dynamic least squares estimating methods. Findings/Originality: The empirical results show that the financial crises affect GDP, export, inflation, and exchange rates of the countries at different levels. While the Asian financial crisis shows a significant negative effect on GDP in Iran and Iraq, the global financial crisis exhibits a negative influence on export in all countries. Nevertheless, both Asian and global crises positively affect inflation because financial crises reduce expenditure at the family and government levels. Thus, governments worldwide attempt to minimize the inflation rate.
Universitas Islam Indonesia
2020-04-08
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative
application/pdf
https://journal.uii.ac.id/JEP/article/view/13668
10.20885/ejem.vol12.iss1.art5
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 54-66
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/13668/10118
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/13725
2020-08-24T20:29:14Z
JEP:ART
Analysis of consumer preferences for prepaid mobile internet packages in Iran: A Discrete Choice Experiment
Sohrabi, Arya
Pishvaee, Mir Saman
Hafezalkotob, Ashkan
Bamdad, Shahrooz
Discrete choice experiment
Willingness to pay (WTP)
Conjoint analysis
Mobile internet.
D01
L96
As a first discrete choice experiment in Iran emerging telecommunication market, this paper studies consumer preferences for prepaid mobile internet packages with a combined software and paper-based interview. A two-stage Bayesian D-optimal design procedure is deployed to design choice sets of mobile internet packages from four main attributes. The utility structure and customers’ willingness-to-pay for mobile internet packages are analyzed. Findings/originality: The results indicate that even with a considerable price reduction, consumers avoid prepaying for data plans with commitment periods longer than six months and high traffic volume. Traffic volume and brand attributes are recognized as the two most influential factors on consumers’ behavior. Simulating the market demonstrates the competition between mobile internet operators in Iran market. The statistics express a significant effect of consumers’ current mobile operator on their preferences for the brand attribute.
Universitas Islam Indonesia
2020-04-08
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/msword
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/13725
10.20885/ejem.vol12.iss1.art4
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 39-53
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/13725/10099
https://journal.uii.ac.id/JEP/article/view/13725/12789
https://journal.uii.ac.id/JEP/article/view/13725/12790
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/13771
2020-08-24T20:29:14Z
JEP:ART
Empirical investigation on the relationship between exports and economic growth in selected LDCs country groups (1988-2018)
Hassan, Khalil Ghazi
Exports
Economic Growth
Causality
Middle East
South Asia
F10
F43
This study aims to investigate the export-led growth hypothesis for two developing country groups i.e. the Middle East and North African (MENA), and South Asian (SA) countries. The study uses time-series data for the period of (1990-2018) based on the unit root, cointegration, error correction modelling, and Granger causality tests. Findings/originality: The results found a long-run cointegration, but no evidence for significant relations between the variables was confirmed. Furthermore, there is no Granger causality between economic growth and exports in the two directions for the MENA countries. But for the SA countries, we note a unidirectional causality from economic growth to exports, i.e. the growth in both country groups was not driven by an export-led growth strategy. This implies that exports aren’t the cause of output growth, and Accordingly, looking for alternative factors of growth in the countries concerned can be suggested.
Universitas Islam Indonesia
2020-04-08
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
application/vnd.openxmlformats-officedocument.wordprocessingml.document
application/vnd.openxmlformats-officedocument.wordprocessingml.document
application/vnd.openxmlformats-officedocument.wordprocessingml.document
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/13771
10.20885/ejem.vol12.iss1.art1
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 1-12
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/13771/10059
https://journal.uii.ac.id/JEP/article/view/13771/12677
https://journal.uii.ac.id/JEP/article/view/13771/12791
https://journal.uii.ac.id/JEP/article/view/13771/12799
https://journal.uii.ac.id/JEP/article/view/13771/12800
https://journal.uii.ac.id/JEP/article/view/13771/12803
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/13810
2020-08-24T20:29:14Z
JEP:ART
The impacts of liberalization and trade facilitation on economic performance, poverty and income inequality: An analytical study
Sukoco, Sukoco
Hartono, Djoni
Patunru, Arianto
top-down
Computable General Equilibrium (CGE) Model
trade policy
C68
F13
I32
This study examines the impacts of import duty and trade transaction cost reductions on economic performance, poverty, and income distribution inequality, through the top-down computable general equilibrium approach. Findings/Originality: It reveals that reducing import duty in agricultural decreases urban poverty but increases the poverty incidence at the rural and national levels. Reducing import duty in agricultural industry lowers urban and national poverty without affecting rural poverty. Meanwhile, the reductions of both import duty and transaction costs bring down the poverty incidence at all levels – urban, rural, and national. The inequality in rural and national income distribution increased due to the cuttings of import duty in agricultural and agricultural industry. However, it declined due to the reduction of transaction costs, and the combined transaction cost with import duty in agricultural or agricultural industry.
Universitas Islam Indonesia
2020-04-08
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
computable general equilibrium approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/13810
10.20885/ejem.vol12.iss1.art6
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 67-79
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/13810/10119
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/13828
2020-07-03T09:33:32Z
JEP:ART
Duration of educated unemployment
Setyadi, Dody
Sudarso, Yuli
Nahar, Muhammad
Sugiyanta, Sugiyanta
Unemployment Duration
Search Theory
Labor and Demographic Economics
The study aims to describe the characteristics of unemployed workers in Central Java Province and to determine the model of educated unemployment duration. It uses the linear regression model of 1721 workforces that are sampled from National Labor Survey 2015. The model regress the unemployment duration on age, sex, education level, income during unemployment period and GRDP of the industrial, service and agricultural sectors. Findings and Originality: The results show that variables of age, sex, the income of job seekers, education level at junior and senior high school level and GRDP in the agricultural sector have a positive effect on the unemployment duration. The variables of the status of household head, the high school education level, as well as the GRDP service sector, negatively effect the unemployment duration. Thus, it is recommended for the Central Java province government to develop service sectors to shorten the duration of unemployment in Central Java Province.Keywords: Unemployment Duration, Search Theory
Universitas Islam Indonesia
2019-11-29
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/13828
10.20885/ejem.vol11.iss2.art8
Economic Journal of Emerging Markets; Volume 11 Issue 2, 2019; 213-222
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/13828/9734
Copyright (c) 2019 Economic Journal of Emerging Markets
oai:ojs.jurnal.uii.ac.id:article/14210
2020-08-24T20:29:14Z
JEP:ART
Regional financial inclusion and poverty: Evidence from Indonesia
Fauzan, Iwan Fathi
Firdaus, Muhammad
Sahara, Sahara
financial inclusion index
poverty
spatial panel econometrics
C33
G28
This paper builds a financial inclusion index of thirty-three provinces in Indonesia from formal financial institutions banks. It aim at analyzing how the financial inclusion index relates to regional poverty using a spatial panel econometric approach. Findings/Originality: The results show that the average financial inclusion index of each province in Indonesia is still in a low category, and there is a financial system development inequality between DKI Jakarta Province and other regions. We also find that poverty has a significant negative effect on the financial inclusion index. With the recent migration of residents as a spatial weighting matrix, we decompose the global effect of the poverty variable on the financial inclusion index into a local effect for each province.
Universitas Islam Indonesia
2020-04-08
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
spatial panel econometrics
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/14210
10.20885/ejem.vol12.iss1.art3
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 25-38
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/14210/10098
https://journal.uii.ac.id/JEP/article/view/14210/12740
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/14509
2020-08-24T20:29:14Z
JEP:ART
Risk-adjusted and Bonferroni-adjusted seasonality in emerging Asian stock markets
Aslam, Faheem
Memon, Bilal Ahmed
Mughal, Khurram Shahzad
emerging
risk adjusted
Bonferroni adjusted
anomalies
market efficiency.
G10
G11
Existing literature on market seasonality focuses mainly on returns anomalies with little or no attention to risk adjustment. This study investigates risk-adjusted, and Bonferroni adjusted day-of-the-week anomalies in nine emerging Asian stock markets. The data consist of the daily prices of nine stock indices from January 1997 to September 2019. The MSCI emerging market index was employed as a proxy of time-varying risk. Findings/originality: The results confirm the presence of day-of-the-week anomalies in emerging Asian markets, and the addition of the market risk proxy has failed to fade these patterns. Finally, after consideration of time-varying risk premium and applying Bonferroni Correction type adjustment, several market anomalies remain. However, both adjustments partially eliminate the significance of these patterns. The presence of these anomalies suggests that little of this can be accounted for the MSCI-EM stock price index. The results also confirm that systematic risk level varies from Monday to Friday.
Universitas Islam Indonesia
2020-04-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/14509
10.20885/ejem.vol12.iss1.art7
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 80-92
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/14509/10120
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/14518
2020-11-11T15:51:30Z
JEP:ART
The impact of real effective exchange rate on revealed comparative advantage and trade balance of Pakistan
Siddique, Muhammad
Anwar, Ahsan
Quddus, Muhammad Abdul
Real effective exchange rate
revealed comparative advantage
trade balance
F14
F41
This study estimates the effects of devaluation and appreciation of real effective exchange rate (REER) on revealed comparative advantage (RCA) at Harmonized System 2-digit level of exports in Pakistan. A non-linear Autoregressive Distribute Lag (ARDL) technique is applied to test the asymmetric evidence. This study employs two models to explore the export performance. Findings/Originality: The results of model 1 estimation confirm the proof of asymmetric ARDL and concludes that devaluation has a positive effect on selected RCA’s index value and helps enhance exports of Pakistan. Meanwhile, the appreciation of REER is having an adverse impact. Model-2 estimates the effect of these selected RCA’s, REER, and world aggregated income (Yw) on the trade balance (TB) of Pakistan. The results estimate that an increase in selected RCA’s index values, world aggregated income, and REER depreciation is useful to decrease in deficit TB of Pakistan.
Universitas Islam Indonesia
2020-10-07
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/14518
10.20885/ejem.vol12.iss2.art6
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 193-207
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/14518/10598
Copyright (c) 2020 Muhammad Siddique; Ahsan Anwar; Muhammad Abdul Quddus
oai:ojs.jurnal.uii.ac.id:article/14639
2020-11-11T15:48:52Z
JEP:ART
Personal income distribution in Turkey: A generalized ordered logit analysis
Kaya, Vedat
Çelik, Ali Kemal
Kutlu, Muhammet
income distribution
inequality
discrete choice modelling
generalized ordered logit model
sub-region
G51
D15
D63
Income distribution decomposition may be affected by a variety of different factors. The main objective of this study is to examine potential factors of personal income distribution in TRA1 sub-region, the three highest income inequality in Turkey. The dataset was drawn from the Turkish Household Income and Life Conditions Survey. Due to the natural ordering of the dependent variable, a generalized ordered logit model was performed to analyze the data. Findings/Originality: The estimation results reveal that gender, age, marital status, educational level, occupational group, and general health status were found to be statistically significant determinants of personal income distribution in TRA1 sub-region of Turkey. The empirical evidence gathered from this study may add an explanation for personal income distribution decomposition in sub-regions of Turkey. In addition, the finding contributes to the human capital theory development that implies the importance of educational policy as one of the effective tools in reducing inequality.
Universitas Islam Indonesia
2020-10-07
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/14639
10.20885/ejem.vol12.iss2.art2
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 138-150
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/14639/10594
Copyright (c) 2020 Vedat Kaya; Ali Kemal Çelik; Muhammet Kutlu
oai:ojs.jurnal.uii.ac.id:article/14789
2020-08-24T20:29:15Z
JEP:ART
Parametric reform analysis of the Moroccan public pension system
El-houjjaji, Hind
Echaoui, Abdellah
PAYG
parametric reform
Cohort-Component
policy forecasting
Morocco
H55
J11
J26.
In 2016, the government of Morocco adopted a parametric reformintended to deal with the critical financial situation of the CMR civilianpension regime. We examine the robustness of this reform using theCohort-Component population projection model to the fund'spopulation during the period 2014-2064. Then we lead a projection ofthe scheme financial situation. Moreover, we project the status quosituation and an alternative scenario where we propose to increase theretirement age solely, and then compare the results with those of the2016 parametric reform. Findings/Originality: For the threescenarios, a parametric reform will have a limited effect on the financialsituation, in both the long and the short-term. In long run, it is notsufficient to solve the problem of massive increase of pension schemedeficits while in short run it is not sufficient to eliminate the existingstructural problems neither to avoid the future financial deficit.Furthermore, our alternative scenario seems to have some moreadvantages, comparing with the other scenarios.
Universitas Islam Indonesia
2020-06-09
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/14789
10.20885/ejem.vol12.iss1.art9
Economic Journal of Emerging Markets; Volume 12 Issue 1, 2020; 105-118
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/14789/10186
https://journal.uii.ac.id/JEP/article/view/14789/12805
Copyright (c) 2020 Author(s)
oai:ojs.jurnal.uii.ac.id:article/14820
2020-11-11T15:51:53Z
JEP:ART
Oil price and stock market returns uncertainties and private investment in Saudi Arabia
Medhioub, Imed
Makni, Mohammed
Macroeconomic Uncertainty
Private Investment
Oil price
Stock market
GARCH process
ARDL model.
E22
C22
The private sector plays a crucial role in the economy. This paper constructs an empirical model for the sector in Saudi Arabia. It incorporates oil price uncertainty as well as stock market returns volatility to predict the sector. It estimates the GARCH (generalized autoregressive conditional heteroskedasticity) and ARDL (autoregressive distributed lag) models. Findings/Originality: Our estimations show significant evidence of a long-run relationship between private investment, oil price, and the stock market. We also find that the stock market index has a significant positive effect on private investment in the short run. The effects are strong in the case of unexpected news from the oil sector. Oil price uncertainty can be considered as a channel of transmission of negative shocks on the private sector. For these reasons, when Saudi Arabia has launched its 2030 vision, it announced that one of its goals is to become a non-oil dependent country.
Universitas Islam Indonesia
2020-10-30
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/14820
10.20885/ejem.vol12.iss2.art7
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 208-219
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/14820/10599
Copyright (c) 2020 Imed Medhioub, Mohammed Makni
oai:ojs.jurnal.uii.ac.id:article/14856
2020-11-11T15:50:44Z
JEP:ART
Government expenditure and standard of living in an emerging market in Africa–Nigeria
Jeff-Anyeneh, Sarah Elechi
Ananwude, Amalachukwu Chijindu
Ezu, Gideon Kasie
Nnoje, Andrew Izuchukwu
Government expenditure
the standard of living
Autoregressive Distributive Lag
E62
H50
The effect of government expenditure on the standard of living has different impact for various level of economies. In this study, we determined the effect of government recurrent and capital expenditure on the standard of living in Nigeria using a test of causation. The long and short run estimates were done by utilizing an Autoregressive Distributive Lag (ARDL) model using data that spanned from 1981 to 2018. Findings/Originality: Precipitously, we asserted that government recurrent and capital expenditure have a significant effect on the standard of living in Nigeria. Nevertheless, that is not the true reflection of the living standard in the country. There is an enormous need for the government to increase its expenditure on the health sector. Investment in healthcare is positively related to economic growth and has the potential of reducing poverty, hence a better standard of living. The Federal Government of Nigeria ought to, as a matter of direness, prioritize capital expenditure over recurrent expenditure.
Universitas Islam Indonesia
2020-10-07
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/msword
https://journal.uii.ac.id/JEP/article/view/14856
10.20885/ejem.vol12.iss2.art4
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 167-178
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/14856/10596
https://journal.uii.ac.id/JEP/article/view/14856/12816
Copyright (c) 2020 Sarah Elechi Jeff-Anyeneh; Amalachukwu Chijindu Ananwude; Gideon Kasie Ezu; Andrew Izuchukwu Nnoje
oai:ojs.jurnal.uii.ac.id:article/15150
2022-07-07T04:49:40Z
JEP:ART
Trade liberalization, financial development, and economic growth: A panel data analysis on Turkey and the Turkic Republics
Tufaner, Mustafa Batuhan
Trade liberalization
financial development
Turkic Republics
Turkey
panel data analysis
F4
E44
F43
Purpose ― In this study, 5 Turkic Republics (Azerbaijan, Kazakhstan, Kyrgyzstan, Uzbekistan and Turkmenistan) and Turkey are analysed to investigate the impact of trade liberalisation and financial development on economic growth.
Methods ― In this study, long-term relationships among trade liberalisation, financial development, and economic growth are analysed by applying unit root, cointegration and causality tests for panel data analysis study for the period 1998 to 2017.
Findings ― The findings reveal a strong cointegration relationship between trade liberalization, financial development, and economic growth. It was understood that trade liberalisation positively affected economic growth, and financial development negatively affected economic growth in the long term for the whole panel. However, when the variables are analysed for each country in the panel, it is seen that the sign and severity of the coefficients change. Also, according to panel causality test results, it was understood that there was no causal relationship between variables.
Implication ― This paper supports the notion that the direction of the relationship among trade liberalisation, financial development, and economic growth change according to countries in Turkey and the Turkic Republics.
Originality ― This paper contributes to the literature by the general view that trade liberalisation and financial development are the driving force of economic growth; these relations may vary according to the country group examined in the studies, the period handled, and the econometric method applied.
Universitas Islam Indonesia
2022-04-27
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Panel data analysis
application/pdf
https://journal.uii.ac.id/JEP/article/view/15150
10.20885/ejem.vol14.iss1.art10
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 126-137
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/15150/13561
Copyright (c) 2022 Mustafa Batuhan Tufaner
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/15267
2020-11-11T15:50:10Z
JEP:ART
Macroeconomic uncertainty and investment relationship for Turkey
Öge Güney, Pelin
investment
macroeconomic uncertainty
bound testing
E2
E6
Macroeconomic uncertainties are expected to affect investment decisions. This study analyzes the effect of the real exchange rate, inflation, and growth uncertainties on private investment in Turkey, an emerging country. While a generalized autoregressive conditional heteroskedasticity (GARCH) model is adopted to measure uncertainties, the existence of a long-run relationship of the variables is assessed using the bound testing approach. Finally, an error correction model is estimated to capture the dynamic relationship. Findings/Originality: The results for the short-run dynamic estimation show that both inflation and real exchange rate uncertainties have a significant negative effect on investments. As for the long-run equilibrium, exchange rate, inflation, and growth uncertainties have a negative impact on private investments. The application of inflation targeting and exchange rate stabilization policy might effectively reduce uncertainty on investments, thus supporting economic growth in the short term.
Universitas Islam Indonesia
2020-10-07
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/15267
10.20885/ejem.vol12.iss2.art3
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 151-166
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/15267/10595
Copyright (c) 2020 Pelin Öge Güney
oai:ojs.jurnal.uii.ac.id:article/15296
2022-03-19T03:39:38Z
JEP:ART
Commercial banks regulation and intermediation function in an emerging market
Ananwude, Amalachukwu Chijindu
Ibenta, Steve Nkem
Ezu, Gideon Kasie
Okaro, Celestine Sunday
Commercial bank regulation
geographic regulations
intermediation function
E52
E58
G21
Purpose - This paper investigates the effect of commercial bank regulations, namely the price, product, and geographic regulations, on the intermediation function of commercial banks in Nigeria. Methods - Using secondary data from 1986 to 2017 from the Central Bank of Nigeria (CBN) and the World Bank, this study employs the Autoregressive Distributive Lag (ARDL) model and Granger causality framework.Findings - This paper provides evidence of a long-run relationship between commercial bank regulation and intermediation function represented by private sector credit to RGDP (regional gross domestic product). It also finds that commercial banks' regulation index through price, product, and geographic regulation has a positive relationship with intermediation function. Furthermore, the long-run relationship between commercial bank regulation and intermediation function described by private sector credit to RGDP is affirmed.Implication - The Central Bank of Nigeria (CBN) needs to relax the product regulation to allow commercial banks to engage in various conventionally non-banking activities.Originality - The paper contributes to the literature by ascertaining the commercial banks' intermediation function to Nigeria's economic growth and development.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative approach
application/pdf
application/msword
https://journal.uii.ac.id/JEP/article/view/15296
10.20885/ejem.vol13.iss1.art7
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 78-91
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/15296/11154
https://journal.uii.ac.id/JEP/article/view/15296/12849
Copyright (c) 2021 Amalachukwu Chijindu Ananwude, Steve Nkem Ibenta, Gideon Kasie Ezu, Celestine Sunday Okaro
oai:ojs.jurnal.uii.ac.id:article/15821
2020-11-11T15:51:01Z
JEP:ART
Institutional factors, entrepreneurship capital types, and economic growth in Asian countries
Luu, Dung Tien
Control of corruption
GDP per capita
new business density
productive entrepreneurship
rule of law
L26
O43
This paper investigates the relationship between institutional factors, entrepreneurial types, and economic growth. The analysis is based on an unbalanced panel data of 18 Asian countries over 2006-2018 using a 3SLS estimation method. It extends the neoclassical growth model with entrepreneurship capital types as an endogenous variable to the economic growth function. Findings/Originality: The results show that new business density and productive entrepreneurship significantly affect GDP per capita. Additionally, a reverse impact of economic growth on entrepreneurship is revealed. Institution's constructs, namely corruption control and the rule of law, are crucial to entrepreneurship, which in turn stimulate economic growth. The results also confirm the significant role of human capital, accumulating domestic investment, economic openness, and controlling inflation in the economic growth model of the Asian countries.
Universitas Islam Indonesia
2020-10-14
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/15821
10.20885/ejem.vol12.iss2.art5
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 179-192
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/15821/10597
Copyright (c) 2020 Dung Tien Luu
oai:ojs.jurnal.uii.ac.id:article/16103
2022-03-19T03:39:38Z
JEP:ART
Drivers of business cycles in Iran and some selected oil producing countries
Taheri, Abouzar
Nessabian, Shahriar
Moghaddasi, Reza
Arbabi, Farzin
Damankeshideh, Marjan
Business cycles
causal variables
MSVAR
MS-Granger Causality
E32
C34
C37
F44
Purpose - This study is aimed at analyzing the main drivers of business cycle in Iran and some selected oil producing countries during the 1970:Q1-2015:Q4 period. In addition, the study evaluates causality of leading macroeconomic indicators for each different regimes of the business cycles.Methods - This study proposes a new methodological approach by combining Markov-Switching Vector Autoregressive (MSVAR) and MS-Granger causality approach.Findings - The results show that there are diverse sources of business cycle. Iran experienced higher volatility of GDP where machinery investment and export are found as main driver of its business cycle. Meanwhile, consumer price index has countercyclical effect in all countries. We also find some similarities to the US, the UK, and Canada regarding the probability of a business cycle, number of observations, and the average duration, especially in the first regime of MS-VAR models. The high level of oil price volatility relative to the GDP volatility indicates the power of oil price shock to generate cycles. In addition, the results of the traditional Granger causality test confirm the Markov-Switching Granger Causality (MS-GC) test in all countries except export from the UK.Implication - Identification the main driver of business cycles is very significant to formulate the steady growth path so that the government able to select the most adequate economic policy.Originality - The novelty of this study is the adoption of a new approach by combining stylized facts and MS-VAR and MS-Granger causality to analyze the business cycles in different regime.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/16103
10.20885/ejem.vol13.iss1.art4
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 41-52
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/16103/11150
Copyright (c) 2021 Abouzar Taheri, Shahriar Nessabian, Reza Moghaddasi, Farzin Arbabi, Marjan Damankeshideh
oai:ojs.jurnal.uii.ac.id:article/16408
2020-11-11T15:48:36Z
JEP:ART
Unit root tests in the presence of structural breaks: Evidence from African stock markets
Osabuohien-Irabor, Osarumwense
African stocks
structural breaks
mean-reversion
random-walk
unit root test
C1
C22
C23
N2
This paper examines whether stock prices for fourteen African countries are affected by transitory or permanent shocks. This study answers whether Africa stock market indices are mean-reverting or random-walk in the presence of multiple structural breaks. To investigate African equity price behavior, we considered one and two endogenously determined structural break tests of Zivot and Andrews (1992) and Lumsdaine and Papell (1997), respectively. Findings/Originality: Our results show that almost all African equity price indices follow the random walk processes except for Senegal and Botswana, which exhibit mean-reversion properties in its equity prices. It implies that investors in African stock markets cannot rely on past information and behavior to predict stock market movements or develop their trading strategies. The result also confirms that the Augmented Dickey-Fuller (ADF) unit root test is not applicable in the presence of structural breaks in African stock markets.
Universitas Islam Indonesia
2020-10-07
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/vnd.openxmlformats-officedocument.spreadsheetml.sheet
https://journal.uii.ac.id/JEP/article/view/16408
10.20885/ejem.vol12.iss2.art1
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 119-137
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/16408/10593
https://journal.uii.ac.id/JEP/article/view/16408/12958
Copyright (c) 2020 Osarumwense Osabuohien-Irabor
oai:ojs.jurnal.uii.ac.id:article/16432
2020-11-11T15:52:10Z
JEP:ART
The linkage between globalisation and financial inclusion: Do inequality and institutions matter?
Cahyadin, Malik
Financial inclusion
Globalisation
Income inequality
Institutions
Threshold effect
F65
G20
O16
O17
This paper examines the effect of the globalization threshold on financial inclusion in 40 selected countries during 2000-2018. A principal component analysis (PCA) and a static panel threshold (SPT) are utilized. There are three dimensions and one aggregation of financial inclusion indicators assessed by PCA, while the globalization threshold is estimated under static panel threshold regression. Findings/Originality: The findings exhibit six countries with strong financial inclusion and eight countries with weak financial inclusion during study periods. Furthermore, the threshold effect of globalization has a significant impact on the financial inclusion index. The robustness checking employs panel cointegration test exhibits that inequality and some institutions indicators have a significant impact on financial inclusion both in the short-run and long-run. The policy implication suggests that governments should increase the financial inclusion index level during the globalization period, decrease inequality, and improve institutions' quality.
Universitas Islam Indonesia
2020-10-30
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/16432
10.20885/ejem.vol12.iss2.art8
Economic Journal of Emerging Markets; Volume 12 Issue 2, 2020; 220-233
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/16432/10600
Copyright (c) 2020 Malik Cahyadin
oai:ojs.jurnal.uii.ac.id:article/16457
2022-03-19T03:39:38Z
JEP:ART
Environmental Kuznets Curve: Moderating role of financial development
Mushtaq, Mansoor
Ahmed, Shabbir
CO2 emissions
financial development
environmental Kuznets curve
environment
E44
F18
G00
Purpose - This study analyzes the moderating role of financial development in the Environmental Kuznets Curve (EKC) hypothesis in 25 countries.Methods - This paper uses Lin and Chu unit root test to check the stationary of the variables. The unit root test result leads to the investigation using the panel pooled mean group model.Findings - The results of the long-run analysis show that the EKC hypothesis exists, and financial development plays its role in two ways. Firstly, it confirms the EKC hypothesis, and secondly, it improves the coefficients of supporting variables, namely economic growth, energy growth, and manufacturing value-added. The results are robust to changing the proxies of dependent as well as independent variables. The error correction model results show that the sign of the error correction term is negative and significant, implying that all of the models will converge toward their long-run equilibrium.Implications - Financial development is a crucial determinant to reduce environmental degradation in these countries. This implies that the governments of these countries should focus on enhancing financial development for the betterment of the environment.Originality - The study analyzes the role of the financial sector as a moderating role in the EKC hypothesis both in emerging economies and well-developed economies.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
application/vnd.openxmlformats-officedocument.spreadsheetml.sheet
https://journal.uii.ac.id/JEP/article/view/16457
10.20885/ejem.vol13.iss1.art3
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 27-40
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/16457/11149
https://journal.uii.ac.id/JEP/article/view/16457/12965
Copyright (c) 2021 Mansoor Mushtaq, Shabbir Ahmed
oai:ojs.jurnal.uii.ac.id:article/16907
2022-03-19T03:39:46Z
JEP:ART
Education, skills and labour market outcome in Indonesia: An instrumental variable approach
Mulyaningsih, Tri
Adhitya, Dhian
Rosalia, Amelia Choya Tia
earnings
cognitive & non-cognitive skills
big five personality traits
Mincer equation
J16
J24
J30
Purpose - This study examines the contribution of schooling and skills to earnings. Importantly, this study captures the importance of observing cognitive skills and non-cognitive skills associated with personality traits in determining earnings.Methods - A revised Mincer Model serves as a theoretical framework to explain the contribution of schooling and skills to earnings. Using the Indonesian labour data from the 5th wave of Indonesian Family Life Survey (IFLS), the 2-Stage Least Squares is employed to measure the effects of schooling, cognitive and non-cognitive skills on earnings.Findings - The results show that schooling and skills, both cognitive and personality traits determine the labour market outcomes. In addition, the relationship between education and earning is nonlinear, suggesting that the returns on education varied across education levels.Implication - The policy should aim to enhance human capital by improving knowledge, cognitive and non-cognitive capacities to assist students in achieving their full potentials.Originality - This study contributes to the literature by measuring the effects of unobservable cognitive skills and non-cognitive skills on earnings in developing countries absent in the previous studies. This study also utilizes the instrumental variable approach of 2-Stage Least Squares to deal with omitted variable bias and the endogeneity problem in the basic Mincer model.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Mincer model
application/pdf
https://journal.uii.ac.id/JEP/article/view/16907
10.20885/ejem.vol13.iss2.art6
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 168-177
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/16907/11681
Copyright (c) 2021 Tri Mulyaningsih, Dhian Adhitya, Amelia Choya Tia Rosalia
oai:ojs.jurnal.uii.ac.id:article/17176
2022-03-19T03:39:46Z
JEP:ART
The spillover of shadow interest rate to the excess returns in emerging markets
Ozcelebi, Oguzhan
Izgi, Mehmet Tevfik
shadow interest rates
excess returns
emerging countries
VARMA-BEKK-AGARCH model
E44
F41
G15
Purpose - This study focuses on the monetary policy transmission of the U.S. on the excess returns in emerging markets by estimating the impacts of changes in the shadow interest rate in the U.S. on the Barclays Benchmark EM FX Trend Excess Return Index (FXERI) and the Barclays Cross Asset Trend Index – EM FX ER (CRASERI).Methods - To account for the spillover effects of the macroeconomic and financial variables, this study employs a bivariate VARMA–AGARCH approach. This study employs 206 daily observations, from February 22, 2002, to July 5, 2019 sourced from The Barclays database and the Reserve Bank of New ZealandFindings - This study finds that the shocks in shadow interest rates will decrease the Barclays Benchmark EM FX Trend Excess Return Index (FXERI) and the Barclays Cross Asset Trend Index – EM FX ER (CRASERI) in the short term. The results of VARMA–BEKK–AGARCH model show that changes/shocks in shadow interest rates will reduce the excess returns in the financial markets of emerging countries in the long term.Implication - The study reveals that a high-interest rate policy could be used as a tool by the FED to prevent excessive returns on emerging countries' financial marketsOriginality - This study contributes to the existing literature by addressing the issue of whether the monetary policy stance of the U.S. after the Global Financial Crisis (GFC) can be recognized as the primary source of the currency excess returns and multiple-asset class excess returns for emerging countries.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/17176
10.20885/ejem.vol13.iss2.art3
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 134-144
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/17176/11678
Copyright (c) 2021 Oguzhan Ozcelebi, Mehmet Tevfik Izgi
oai:ojs.jurnal.uii.ac.id:article/17247
2022-03-19T03:39:38Z
JEP:ART
The role of agricultural productivity in economic growth in middle-income countries: An empirical investigation
Güzel, Arif Eser
Akin, Cemil Serhat
Economic growth
agricultural productivity
human capital
trade openness
C23
O11
Q10
Purpose - This study investigates the role of agricultural productivity in economic growth in middle-income countries.Methods - This study utilizes the data of 53 middle-income countries over the period 1991-2017 and provides robust estimations using second-generation panel data methods considering cross-sectional dependency.Findings - The estimation results of the Common Correlated Effects Mean Group (CCEMG), Dynamic-CCEMG, and biased-corrected form of Dynamic-CCEMG, suggest that agricultural productivity is the main engine of economic growth. Additional findings show that economic growth is positively associated with both physical capital and human capital. This paper does not find any significant relationship between trade openness and economic growth.Implications - This study reveals that the industrialization process in middle-income countries to boost economic growth can be accelerated by implementing policies to increase productivity in the agricultural sector.Originality - This study focuses on analyzing the effect of agricultural productivity neglected mainly in recent studies on economic growth. This paper develops a second-generation estimator that considers cross-sectional dependence.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/17247
10.20885/ejem.vol13.iss1.art2
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 13-26
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/17247/11148
Copyright (c) 2021 Arif Eser Güzel, Cemil Serhat Akin
oai:ojs.jurnal.uii.ac.id:article/17970
2022-03-19T03:39:38Z
JEP:ART
Monetary policy transmission: Balance sheet channel and investment behavior of firms in Pakistan
Rafique, Amir
Quddoos, Muhammad Umer
Ali, Shujat
Aslam, Faheem
Ahmad, Muneeb
Monetary policy transmission
monetary tightness
constrained firms' investments
E42
E44
E52
Purpose - This study investigates the relevance of the balance sheet channel of monetary policy transmission concerning non-financial firms at the Pakistan Stock Exchange (PSX), a firm-level data.Methods - This paper estimates a family of panel data regression models and constructs a dummy variable for monetary policy tightness.Findings - The result indicates a positive relationship between cash flows and investment during periods of monetary tightness. The impact on cash flows is visibly more pronounced than that of the quantitative effect of an increase in capital cost, which gives rise to a balance sheet channel. Three financial constraints, namely size, leverage, and dividend policy, are used to segregate firms into financially constrained and unconstrained firms.Implication - The results highlight the balance sheet channel impact on smaller firms' cash. The cash flows of highly leveraged firms were impacted more during the tight monetary policy periods and thereby were more prone to decline in investments. Results on constraints of dividend policy are, however, inconclusive.Originality - The paper contributes to the literature by investigating the relevance of the balance sheet channel of monetary policy transmission concerning non-financial firms using firm-level data. It also contributes to the literature by constructing a dummy variable to measure monetary policy tightness.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative
application/pdf
application/vnd.openxmlformats-officedocument.wordprocessingml.document
https://journal.uii.ac.id/JEP/article/view/17970
10.20885/ejem.vol13.iss1.art1
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 1-12
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/17970/11147
https://journal.uii.ac.id/JEP/article/view/17970/13121
Copyright (c) 2021 Amir Rafique, Muhammad Umer Quddoos, Shujat Ali, Faheem Aslam, Muneeb Ahmad
oai:ojs.jurnal.uii.ac.id:article/18063
2022-07-07T04:49:40Z
JEP:ART
Islamic banks credit risk performance for home financing: Before and during Covid-19 pandemic
Anto, MB Hendrie
Fakhrunnas, Faaza
Tumewang, Yunice Karina
Purpose ― This study aims to assess the home financing credit risk performed by Islamic banks in Indonesia.
Methods ― A panel dynamic analysis is adopted to measure the bad loan performance before and during the Covid-19 pandemic. The observation period started from January 2016 to September 2020 with 1,881 observation periods of monthly panel data from the province level.
Findings ― The study finds a difference in bad loan performance before and during the Covid-19 pandemic. Before this pandemic, inflation has a positive and significant influence on non-performing financing in real estate, rental business, and company service. However, during the Covid-19 pandemic, a substantial and positive effect of inflation is found on the bad loan for personal flat and apartment ownership. On the other hand, a significant and negative impact of inflation is found on the bad home loan for personal business shop ownership.
Implication ― This analysis could trigger the government to provide financial assistance for those affected by the Covid-19 crisis. In addition to that, an Islamic bank is also expected to give financing allowances for them by providing an option of debt restructuration and rescheduling.
Originality ― This paper analyses the Islamic bank’s credit risk performance for home financing before and during the Covid-19 pandemic. This issue has not been presented in the literature to the best of our knowledge.
Universitas Islam Indonesia
2022-04-27
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/18063
10.20885/ejem.vol14.iss1.art9
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 113-125
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/18063/13560
Copyright (c) 2022 MB Hendrie Anto, Faaza Fakhrunnas, Yunice Karina Tumewang
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/18276
2022-03-19T03:39:38Z
JEP:ART
Similarity evidence between the country risk and the idiosyncratic risk: An empirical study of the Brazilian case
Salles, André Assis de
Idiosyncratic risk
country risk
causality
cointegration
C22
C58
E44
F21
F43
Purpose - This paper estimates the idiosyncratic risk (IDR) time series in the Brazilian economy and verifies its interaction with the Brazilian country risk indicators, measured by the EMBI+ (the Emerging Markets Bond Index).Methods - This paper estimates various regression models to capture the dynamic nature of the variables. The models include the heteroscedastic conditional autoregressive models and vector error correction models (VECM). Findings - The results show similarities or associations between the two indicators with interactions in the short and long run. The idiosyncratic risk proves to be a relevant indicator of the risk of economic activities implemented within the scope of the Brazilian economy and can help evaluate investments in related projects. This results also provide evidence of cointegration between the EMBI+ and IDR variations.Implication - This result suggests an alternative way for obtaining estimates of the expected return required by economic agents in financing and investing in productive and infrastructure projects necessary for developing the Brazilian economy that provides greater employability and good social welfare.Originality - This paper provides an alternative estimate of the time series proxy of idiosyncratic risk in the Brazilian economy. It also compares the results with the time series results obtained from the country risk measure EMBI+, widely used among resource managers in the international markets.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative Approach
application/pdf
https://journal.uii.ac.id/JEP/article/view/18276
10.20885/ejem.vol13.iss1.art6
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 66-77
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/18276/11152
Copyright (c) 2021 André Assis de Salles
oai:ojs.jurnal.uii.ac.id:article/18279
2022-03-19T03:39:38Z
JEP:ART
Bank lending in an emerging economy: How does central bank reserve accumulation matter?
Dang, Van Dan
Huynh, Japan
Bank lending
bank risk
central bank
foreign exchange reserves
E58
F31
G21
Purpose - The paper examines the impacts of the central bank's foreign exchange reserves on bank lending, captured by the dimensions of quantity (loan growth) and quality (credit risk).Methods - This research analysis is based on bank-year observations in Vietnam during 2007–2019 and employs the two-step system Generalized Method of Moments in dynamic panels.Findings - This study finds that banks tend to increase their loan growth rate in response to reserves accumulation. Banks also expand loans and cash items on their asset structure while subsequently slashing total security investments and disaggregate government bond holdings. Our results also indicate that the central bank reserves accumulation is associated with less credit risk and more financial stability of the banking system.Implication - This paper supports the notion that reserve accumulation could be a complementary monetary policy tool for lending navigation and economic growth. Besides, reserve interventions may be used for financial stability, given the finding that it is found to curtail bank credit risk and financial instability.Originality - This paper contributes to the literature by focusing on critical aspects of bank lending, including quantity and quality, to paint a bigger picture of the benefits and costs of reserve accumulation and decompose bank asset portfolios into disaggregate components, thereby providing more insight into bank responses.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
application/pdf
https://journal.uii.ac.id/JEP/article/view/18279
10.20885/ejem.vol13.iss1.art5
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 53-65
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/18279/11151
https://journal.uii.ac.id/JEP/article/view/18279/13146
Copyright (c) 2021 Van Dan Dang, Japan Huynh
oai:ojs.jurnal.uii.ac.id:article/18292
2022-03-19T03:39:38Z
JEP:ART
Government fiscal spending and crowd-out of private investment: An empirical evidence for India
Shankar, Shiv
Trivedi, Pushpa
Public investment
private investment
crowding-out
statistical filter
C32
E22
H60
Purpose - The paper evaluates the crowding-in or crowding-out relationship between public and private investment in India, controlling fiscal and monetary variables.Methods - In a flexible accelerator theoretical framework, the paper estimates long and short-run investment dynamics, employing Autoregressive Distributed Lag (ARDL) cointegration approach. We use a back series of national account statistics that incorporates enhanced coverage of the organized corporate sector. Findings - Our results suggest investment complementarity between the public and private sector at an aggregate and sectoral level over the period 1981-2019. Barring short-run crowding-out in construction and financial services at industry level, public investment stimulates private counterparts, both in the long and short-run. However, fiscal deficit, inflation expectation, and sovereign vulnerability influence private investment adversely. Moreover, the long-run crowding-out bearing of fiscal imbalance is quantitatively higher when the public sector invests in mining and manufacturing and insignificant with infrastructure.Implication - Sizable infrastructure investment as a proportion of government finances would moderate the adverse impact of the deficit on private investment. Further, quality fiscal adjustments and containing inflation would enhance private investment activities.Originality - Besides aggregate and sectoral levels, the study also evaluates the impact of industry-level public investment on private capital expenditure. This paper also incorporates derived variables in the regression framework using statistical filters and the principal component technique.
Universitas Islam Indonesia
2021-04-21
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
ARDL, Statistical Filters
application/pdf
application/vnd.openxmlformats-officedocument.spreadsheetml.sheet
application/pdf
https://journal.uii.ac.id/JEP/article/view/18292
10.20885/ejem.vol13.iss1.art8
Economic Journal of Emerging Markets; Volume 13 Issue 1, 2021; 92-108
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/18292/11155
https://journal.uii.ac.id/JEP/article/view/18292/13150
https://journal.uii.ac.id/JEP/article/view/18292/13151
Copyright (c) 2021 Shiv Shankar
oai:ojs.jurnal.uii.ac.id:article/18748
2022-03-19T03:39:46Z
JEP:ART
The potential growth impact of fiscal consolidations
Kuncoro, Haryo
Purpose - This paper aims at analyzing the feasibility of fiscal consolidation implementation in the case of Indonesia. The main question to be investigated is whether fiscal consolidation will deteriorate economic growth or not.Methods - This research uses various probabilistic models to assess the successfulness of fiscal adjustments. Probit and logit models are used as a preliminary estimate. The robustness checks are conducted by binary extreme value and Tobit models.Findings - The results indicate that the magnitude of government revenue is less than that of government spending. They seem that increasing government revenue (taxes, for instance) is less harmful compared to reducing expenditures, which denies empirically what Keynesian economists approve of.Implication - The results highlight that Indonesia’s fiscal authority should immediately reform the economic, regulatory, and institutional environments in adopting fiscal austerity policies. The reforms are strongly required to realize fiscal health as well as to promote economic growth.Originality - This paper contributes the literature on fiscal policy in developing countries. Unlike other empirical studies, this research compares the actual output over the potential output, instead of the past actual output, to evaluate the successfulness of fiscal consolidations.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/18748
10.20885/ejem.vol13.iss2.art4
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 145-156
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/18748/11679
Copyright (c) 2021 Haryo Kuncoro
oai:ojs.jurnal.uii.ac.id:article/19071
2022-03-19T03:39:46Z
JEP:ART
The effect of real exchange rate misalignment on economic growth: Evidence from emerging markets
Mamun, Abdullahil
Akça, Emrah Eray
Bal, Harun
Hoque, Nazamul
economic growth
RER misalignment
single-equation approach
system GMM
emerging markets
F31
F41
O47.
Purpose – This study’s main purpose is to investigate the effect of real exchange rate misalignment on economic growth performance for 21 emerging markets from 1980 through 2016.Methods – The study individually measures the real exchange rate misalignment series for 21 emerging markets by using the single-equation approach and then estimates the effect of real exchange rate misalignment, undervaluation, and overvaluation on economic growth performance through dynamic panel system generalized method of moments approach.Findings – The study finds that the real exchange rate of emerging markets is significantly misaligned. The study also argues that any deviation of the real exchange rate from its equilibrium value impairs economic growth. The view that overvaluation erodes growth is customarily accepted, while a real undervaluation is found to be a growth deteriorating fact.Implication - From the policy perspective, policymakers should be cautious enough in setting exchange rate policies to check its sustained misalignments over time so that it can enrich the ability of concerned authorities to attain the growth target by using it as a policy instrument.Originality – The study is in response to the need felt for a common analytical framework for examining misalignment in the real exchange rate to make a more inclusive decision relating to its effects on the growth performance of emerging markets.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Single-equation Approach; Dynamic Panel System Generalized Method of Moments
application/pdf
https://journal.uii.ac.id/JEP/article/view/19071
10.20885/ejem.vol13.iss2.art1
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 109-122
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19071/11676
Copyright (c) 2021 Abdullahil Mamun, Emrah Eray Akça, Harun Bal, Nazamul Hoque
oai:ojs.jurnal.uii.ac.id:article/19075
2022-03-19T03:39:46Z
JEP:ART
Lingering effects of foreign resource dependency in Pakistan: Assessing gains from domestic resources
Munir, Mubbasher
Meo, Muhammad Saeed
Younas, Kinza
Arshed, Noman
Jamil, Asma Khalid
domestic investment
pollution haven hypothesis
multinational corporations
M4
M5
Purpose - This study explores the asymmetric effects of FDI (Foreign Direct Investment) on economic growth in Pakistan.Methods - This paper uses an Asymmetric Effects ARDL (Autoregressive Distributed Lag) model.Findings - The results show that the effects of increasing and decreasing FDI are not equal. The study concludes that reducing FDI is more beneficial for economic growth, particularly in the longer horizon. It mobilizes domestic investment and promotes financial freedom while reducing the reliance on pollution-intensive multinational corporations and taps indigenous knowledge gains.Implications - This study proves that self-reliance is more beneficial for the case of Pakistan.Originality - The researchers and policymakers are unclear about the merits and demerits of FDI as a substitute for domestic investment. Empirical studies are majorly convinced that an increase in FDI generally merits economic growth but weighs in the Pollution Haven Hypothesis and ignores the indigenous knowledge-based domestic resource.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative Approach;
application/pdf
https://journal.uii.ac.id/JEP/article/view/19075
10.20885/ejem.vol13.iss2.art7
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 178-187
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19075/11682
Copyright (c) 2021 Mubbasher Munir, Mubbasher Munir, Muhammad Saeed Meo, Muhammad Saeed Meo, Kinza Younas, Kinza Younas, Noman Arshed, Asma Khalid Jamil, Asma Khalid Jamil
oai:ojs.jurnal.uii.ac.id:article/19290
2022-07-07T04:49:40Z
JEP:ART
Foreign direct investment, efficiency, and total factor productivity: Does technology intensity classification matter?
Yasin, Mohammad Zeqi
Sari, Dyah Wulan
FDI
Manufacturing
Indonesia
Stochastic Production Frontier.
D24
F23
Purpose ― We examine whether the foreign direct investment (FDI) in promoting technical efficiency is controlled by the sector classifications based on the technology intensity (High Technology, Medium-High Technology, Medium-Low Technology, and Low Technology).
Methods ― We use the Indonesian firm-level dataset of the large and medium manufacturing survey from 2007 to 2015 and employ the time-varying stochastic production frontier.
Findings ― We reveal that FDI, technology intensity and absorptive Capacity significantly affect firms' production and efficiency. We also found that the Indonesian manufacturing industry from 2007 to 2015 experienced positive Total Factor Productivity growth, where High-Technology sectors experienced the largest magnitude among others. Meanwhile, technological progress stemming from FDI is enjoyed more by Low Technology sectors. Meaning to say, technology intensity classification does not matter to technological progress.
Implication ― The host country's government should focus on industries with high technical capabilities to accelerate FDI gains for the firms. Simultaneously, human capital improvement also needs to be intensified, for instance, through training or human development, so that firms with lower technical capability can catch up and, consequently, receive similar benefits from FDI activities.
Originality ― Our study accommodates the research gap by including the FDI effect in both productivity and efficiency in a single equation. Many studies merely categorize technology intensity following the stochastic production frontier estimation to obtain technical efficiency or TFP growth. In this sense, those studies did not control the impact of the technology-specific effect.
Universitas Islam Indonesia
2022-04-26
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Stochastic Frontier Analysis
application/pdf
https://journal.uii.ac.id/JEP/article/view/19290
10.20885/ejem.vol14.iss1.art4
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 41-54
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19290/13547
Copyright (c) 2022 Mohammad Zeqi Yasin
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/19291
2022-07-07T04:49:40Z
JEP:ART
Does sectoral loan portfolio composition matter for the monetary policy transmission?
Dang, Van Dan
Nguyen, Hoang Chung
bank diversification
interest rates
liquidity injection
loan portfolios
monetary policy
E52
E58
G21
Purpose ─ The paper empirically explores the conditioning role of loan portfolio diversification in the monetary policy pass-through via the bank lending and risk-taking channels.
Methods ─ Data of Vietnamese commercial banks during 2007–2019 is employed to perform regression using the two-step system generalized method of moments in dynamic panel models. For robustness, we approach different choices of monetary policy indicators, ranging from interest-based tools to quantitative-based policy, and consider a rich set of sectoral exposure measures to proxy loan portfolio diversification.
Findings ─ Lower interest rates or greater liquidity injection during monetary expansion may increase bank lending and bank risk, thus confirming the working of the bank lending and risk-taking channels of monetary policy transmission. Notably, the potency of these banking channels may be weakened for banks diversifying loan portfolios more into various economic sectors.
Implication ─ The findings call for monetary authorities to concentrate on certain types of banks, depending on their loan portfolios when setting monetary policy. When managing banking supervision, banking supervisors should also acknowledge the tradeoff between bank lending and bank risk in response to monetary shocks.
Originality ─ For the first time, this paper explores the conditional role of loan portfolio composition and thus further supports the recent upsurge in empirical studies highlighting the role of business models in monetary policy pass-through.
Universitas Islam Indonesia
2022-04-26
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/19291
10.20885/ejem.vol14.iss1.art3
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 29-40
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19291/13546
Copyright (c) 2022 Van Dan Dang
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/19294
2022-03-19T03:39:46Z
JEP:ART
Export diversification and economic growth: A threshold regression approach for emerging markets and developing countries
Trinh, Pham Thi Tuyet
Thuy, Hoang Thi Thanh
export diversification
economic growth
threshold regression
emerging markets
and developing countries
F13
F43
O40
Purpose - This study investigates the nonlinear relationship between export diversification and economic growth in 44 emerging markets and developing countries.Methods - The threshold regression methodology is employed to analyze data for the period between 1995 and 2015. Export diversifications in terms of both geography and product are measured by the Herfindahl-Hirschman market concentration index and overall Theil index, respectively.Findings - The results demonstrate a nonlinear relationship between export diversification and economic growth. Above the threshold, diversified export markets and products boost economic growth. Below the threshold, the positive relationship between diversification in both markets and products and growth is insignificant.Implications - The research implies that export diversification strategy in emerging markets and developing countries should be considered carefully when the level of export diversification is higher than the threshold, which usually occurs in the later stage of diversification.Originality - The study investigates nonlinearity in terms of degrees of diversification instead of degrees of development. With this approach, the threshold is identified to show how economic growth is affected under different regimes.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/19294
10.20885/ejem.vol13.iss2.art8
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 188-199
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19294/11683
Copyright (c) 2021 Trinh Thi Tuyet Pham
oai:ojs.jurnal.uii.ac.id:article/19426
2022-07-07T04:49:40Z
JEP:ART
Analysing network structures and dynamics of the Pakistan stock market across the uncertain time of global pandemic (Covid-19)
Memon, Bilal Ahmed
Stock Network
Threshold Network
Network topology
Minimum Spanning Tree
Pakistan
Purpose ― The global pandemic COVID-19 has attracted considerable interest from researchers globally. However, there is very little systematic work on the impact of the COVID-19 crisis on the local stock markets. This paper proposes a complex network method that examines the effects of global pandemic COVID-19 on the Pakistan stock market to fill in these gaps.
Methods ― Firstly, correlograms are plotted to inspect the correlation matrices of the overall and two sub-sample periods. Secondly, correlation threshold networks and topological properties are examined for different threshold levels. Finally, this paper uses evolving MSTs to construct a dynamical complex network and presents dynamic centrality measures, normalised tree, and average path lengths.
Findings ― The findings show that COVID-19 related certainty and crisis lead to low volatility and a star-like structure, resulting in a quick flow of information and a strong correlation among the Pakistan stock market.
Implication ― This analysis would help investors and regulators to manage the Pakistan stock market better. In addition, the comprehensive study solely on the Pakistan stock market will be helpful for Pakistan government officials and stock market participants to assess and predict the risks of the Pakistan stock market associated with the global pandemic COVID-19.
Originality ― This paper addresses both classes of the networks. To the best of our knowledge, the static and dynamic evolution of the Pakistan stock market around the global pandemic COVID-19 has not been performed yet.
Universitas Islam Indonesia
2022-04-27
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/19426
10.20885/ejem.vol14.iss1.art7
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 85-100
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19426/13558
Copyright (c) 2022 Bilal Ahmed Memon
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/19664
2022-07-07T04:49:40Z
JEP:ART
Rage against the machine: A money-burning field experiment
Sanjaya, Muhammad Ryan
Antisocial behaviour
Other-regarding preferences
Lab-in-the-field experiment
Human-computer interaction
C72
C93
D91
Purpose ― This study investigates antisocial behaviour where participants made payoff destruction decisions (“money burning”) that are conditional on the co-participant being a human or a computer.
Methods ― This study uses the joy-of-destruction minigame experiment with Indonesian citizens living in Australia as the participants. Regression methods are used to observe whether discrimination occurs and to identify factors associated with antisocial behaviour.
Findings ― This study finds money burning against the computer to be more prevalent than against humans. There was very limited support that such behaviour was correlated with demographic characteristics or subjective norms, suggesting that the presence of a computer co-participant drives the result.
Implications ― The results have a methodological implication for experimental economics where experimenters should anticipate that computer players may have an unforeseen impact on human behaviour. Policy-wise, the study shows a relatively cohesive community which may be driven by the multicultural policy of Australia.
Originality ― This is the first antisocial behaviour economics experiment that includes a computer as a potential co-participant.
Universitas Islam Indonesia
2022-05-19
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Experiment
application/pdf
https://journal.uii.ac.id/JEP/article/view/19664
10.20885/ejem.vol14.iss1.art11
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 138-150
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19664/13632
Copyright (c) 2022 Muhammad Ryan Sanjaya
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/19698
2022-03-19T03:39:46Z
JEP:ART
Exchange rates and oil price under uncertainty and regime switching: A Markov-switching VAR approach
Aimer, Nagmi Moftah
Lusta, Abdulmula Albashir
oil price
exchange rate
Markov switching
C32
C51
H12
Purpose - This paper analyses the effects of the US economic policy uncertainty index and oil price changes on the dollar exchange rate over a monthly period from January 2006 to August 2020.Methods - This paper uses the Markov-switching Vector Auto-Regressive (VAR) model.Findings - The results show that the sharp decline regime in the exchange rate is the most stable. In addition, the impact of the oil price on the exchange rate of the concerned currencies is stronger than the effect of EPU on the exchange rate of these currencies. We also find that most of the effects of oil prices were negative, while positive for the Canadian dollar and the Japanese yen exchange rate.Implications - Addressing this investigation contributes to many of the areas covered in recent macroeconomic and finance research. Moreover, such research can help predict changes in currency and oil prices better and create profitable investment and hedging strategies for currencies and oil.Originality - We consider the effect of economic policy uncertainty (EPU) and oil price changes on the relationships between those markets and study these relationships under different market conditions.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Markov-switching Vector Auto-Regressive (VAR) model
application/pdf
https://journal.uii.ac.id/JEP/article/view/19698
10.20885/ejem.vol13.iss2.art9
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 200-215
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/19698/11684
Copyright (c) 2021 Nagmi Moftah Aimer, Abdulmula Albashir Lusta
oai:ojs.jurnal.uii.ac.id:article/20024
2022-03-19T03:39:46Z
JEP:ART
Nexus between real effective exchange rate misalignment and rubber export in Nigeria
Mukaila, Ridwan
exchange rate misalignments
equilibrium real exchange rate
rubber export
trade openness
Q17
F14
F31
Purpose - This study examines the nexus between the real effective exchange rate misalignment (REERM) and rubber exports in Nigeria. The effects of equilibrium real exchange rate (ERER) and some economic fundamentals on rubber exports are also investigated.Methods - Johansen cointegration, vector error correction model and Granger causality test are employed as methods of data analysis.Findings - The results show that a long-run relationship exists between REERM and rubber export. REERM influenced rubber export negatively while ERER had a positive effect on rubber export. The past values of REERM can be used to predict the present volume of rubber export, and the past values of ERER and rubber export can be used to forecast the present values of each other. Trade openness positively influences rubber export while the term of trade has a negative effect on rubber export.Implication - REERM worsens the performance of rubber export in Nigeria while ERER improves its performance. Thus, rubber export can be enhanced through measures such as trade openness, improved term of trade and monitoring of exchange rate to reduce the REERM and maintain a stabilized equilibrium exchange rate system.Originality - This study focuses on the effect of deviation of the exchange rate from equilibrium, ERER and economic fundamentals on rubber export which has not been previously investigated.
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/20024
10.20885/ejem.vol13.iss2.art2
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 123-133
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/20024/11677
Copyright (c) 2021 Ridwan Mukaila
oai:ojs.jurnal.uii.ac.id:article/20095
2022-03-19T03:39:46Z
JEP:ART
Does economic freedom affect entrepreneurship? Insights from Africa
Ajide, Folorunsho M
economic institutions
startups
Hausman-Taylor IV estimator
Africa
L26
M13
O55
P14
Purpose - Literature suggests that entrepreneurship can serve as a veritable tool for providing decent employment and improving economic prosperity. Therefore, the objective of this study is to examine the impact of economic freedom on entrepreneurship in Africa.Design/methodology/approach - The study employs data of 18 African countries covering a period of 2007-2018. The analysis is based on the following techniques: Panel-Corrected Standard Errors (PCSE), generalized method of moments, Hausman–Taylor IV estimator and Driscoll-Kraay standard errors.Findings - Finding based on Panel-Corrected Standard Errors (PCSE) technique reveals that economic freedom and its dimensions improve the level of entrepreneurship in Africa. This finding is robust to other alternative estimation techniques. Secured property right, relaxed tax burden, monetary freedom, trade freedom, freedom from corruption, investment freedom, financial freedom, business freedom and labor freedom have positive impact on African entrepreneurship.Practical implications - The study, hence, suggests that policy should be implemented to maximize the level of economic and fundamental freedom of citizens to encourage indigenous entrepreneurs in Africa. Quality of infrastructure should be improved as well as simplification of firms’ registration procedures. African government also needs to build effective and efficient institutional framework to maintain government integrity in Africa.Originality/value - The position of African countries in the nexus between economic freedom and entrepreneurship is rarely discussed in the literature. Hence, this study contributes in this respect and showcases how economic freedom influence the decision to engage in entrepreneurial venture in African perspectives
Universitas Islam Indonesia
2021-10-01
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/20095
10.20885/ejem.vol13.iss2.art5
Economic Journal of Emerging Markets; Volume 13 Issue 2, 2021; 157-167
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/20095/11680
Copyright (c) 2021 Folorunsho M Ajide
oai:ojs.jurnal.uii.ac.id:article/20760
2022-07-07T04:49:40Z
JEP:ART
Forecasting inflation in Turkey: A comparison of time-series and machine learning models
Akbulut, Hale
inflation forecasting
time series models
machine learning models
emerging economies
macroeconomics
economic policy
Purpose: This paper aims to test the accuracy of some Machine Learning (ML) models in forecasting inflation in the case of Turkey and to give a new and also complementary approach to time series models. Methods: This paper forecasts inflation in Turkey by using time-series and machine learning (ML) models. The data is spanning from the period 2006:M1 to 2020:M12. Findings: According to our findings, although the linear-based Ridge and Lasso regression algorithms perform worse than the VAR model, the multilayer perceptron algorithm gives satisfactory results that are close to the results of the time series algorithm. In this direction, non-linear machine learning models are thought to be a reliable complementary method for estimating inflation in emerging economies. It is also predicted that it can be considered as an alternative method as the amount of data and computational power increase. Implication: The findings are expected to be useful as a guide for central banks and policy-makers in emerging economies with volatile inflation rates. Originality: We evaluate the forecasting performance of ML models against each other and a time series model, and investigate possible improvements upon the naive model. So, this is the first study in the field, which uses both linear and nonlinear ML methods to make a comparison with the time series inflation forecasts for Turkey.
Universitas Islam Indonesia
2022-04-26
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/20760
10.20885/ejem.vol14.iss1.art5
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 55-71
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/20760/13556
Copyright (c) 2022 Hale Akbulut
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/21123
2022-07-07T04:49:40Z
JEP:ART
On the asymmetric effect of real exchange rate on growth: Evidence from Africa
Dada, James Temitope
F31
F43
O40
Purpose ― This study investigates the asymmetric effect of real exchange rates on the economic growth of twenty African countries for the period 2005 to 2019.
Design/Method/Approach ― A refined method of Granger and Yoon (2002) was used to decompose real exchange into appreciation and depreciation. To address the problem of endogeneity and cross-sectional dependence, a two-steps system generalized method of moments, Driscoll-Kraay estimator, and Augmented Mean group were used.
Findings ― This study established the presence of asymmetries in the real exchange rate in the region. Further, the study found that real exchange rate appreciation inhibits economic growth while real exchange rate depreciation is beneficial to growth in the region. The results are robust to different estimation techniques.
Practical Implications ― The outcome of this study supports the traditional view of exchange rates on macroeconomic variables. Hence, findings from this study can help investors and policymakers in the region to better understand the dynamics of the exchange rate and its effect on economic growth.
Originality/Value ― This study enriches the literature on the relationship between exchange rate and growth, especially in Africa using a refined approach to decompose exchange rate into appreciation and depreciation.
Universitas Islam Indonesia
2022-04-26
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
quantitative
application/pdf
https://journal.uii.ac.id/JEP/article/view/21123
10.20885/ejem.vol14.iss1.art2
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 15-28
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/21123/13545
Copyright (c) 2022 James Temitope Dada
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/21172
2022-07-07T04:49:40Z
JEP:ART
Nonlinear effects of ıncome ınequality on economic growth: A comparative analysis of selected countries
Aktas, Emin Efecan
Iyidogan, Pelin Varol
Income inequality
economic growth
threshold analysis
dynamic panel
nonlinearity
C23
D31
O40
O15
Purpose ― The paper queries the impacts of income inequality on economic growth in selected advanced and emerging market economies by adopting nonlinearity and endogeneity.
Methods ― This research analysis is based on a balanced panel from 1996 to 2018 and employs the dynamic panel threshold analysis after baseline estimations with the fixed-effect, system Generalized Method of Moments, and difference Generalized Method of Moments.
Findings ― This study finds a nonlinearity between income inequality and economic growth. Income inequality has a significant threshold effect on the growth of both panels. Besides, the threshold effect of emerging market countries is higher than the level for advanced countries. This means emerging market economies are negatively affected above the estimated threshold value according to the advanced economies.
Implication ― This paper supports that inequality may harm much more economic growth above a specific level. On the other hand, these distorting effects are related to the other economic issues of countries, such as government spending, inflation, export of goods and services, gross fixed capital formation, and foreign direct investment.
Originality ― This paper contributes to the literature by focusing on the nonlinear effects of income inequality and different aspects of economic growth above or below the estimated threshold value, thereby providing cross-country comparability and endogeneity.
Universitas Islam Indonesia
2022-04-27
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Dynamic Panel Threshold Estimation
application/pdf
https://journal.uii.ac.id/JEP/article/view/21172
10.20885/ejem.vol14.iss1.art6
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 72-84
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/21172/13557
Copyright (c) 2022 Emin Efecan Aktas
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/21214
2022-07-07T04:49:40Z
JEP:ART
Revisiting the macroeconomic variables and economic growth nexus: A Markov regime-switching approach
Fiaz, Asma
Khurshid, Nabila
Satti, Ahsan ul Haq
Macroeconomic variables
economic growth
nexus
non-linear
Markov switching model
Pakistan.
C24
F43
O47
Purpose ―Current paper assesses the impact of macroeconomic variables on Pakistan's economic growth.
Method ― This study analyzed the data using the Markov Regime switching (MS) model using monthly data for 1981-2020. Firstly, BDS and CUSUM square tests were applied to detect the non-linearity of the model.
Results ―The model is non-linear, so the Markov regime-switching model is used for analysis. Each regime's mean and variance are highly significant and show a high growth regime with high volatility and a low growth regime with low volatility. Furthermore, the results show that inflation, interest rate, and trade openness negatively impact while real effective exchange rates positively affect development in both regimes. The negative effect of interest rate, exchange rate, inflation, and trade openness become more pronounced in low growth regimes.
Implication ― This study suggests that policymakers should consider the non-linear behaviour of macroeconomics. This will help to formulate better policies for the economy's economic growth.
Originality ―The current research adds to the existing literature by identifying the non-linear effect of growth indicators on economic growth, which was previously neglected in the case of Pakistan.
Universitas Islam Indonesia
2022-04-27
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/21214
10.20885/ejem.vol14.iss1.art8
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 101-112
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/21214/13559
Copyright (c) 2022 Asma Fiaz, Nabila Khurshid, Ahsan ul Haq Satti
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/21422
2022-12-28T05:40:06Z
JEP:ART
The impact of oil price shocks on macroeconomic indicators: Evidence from four ASEAN countries
Taufani, Adawiya
Hakim, Dedi Budiman
Widyastutik, Widyastutik
oil price shock
macroeconomics
VECM
ASEAN
Q4
O53
N15
C32
Purpose ― This study examines the impact of oil price shocks on macroeconomic indicators, namely real GDP, real exchange rates, inflation, real interest rates, the balance of payments, and unemployment rates in four ASEAN countries, namely Brunei Darussalam, Malaysia, Indonesia, and Thailand.
Methods ― This research uses a Vector Error Correction Model (VECM). The oil price variable in this study was divided into two, namely, the increase and decrease in oil prices based on the Mork transformation.
Findings ― The analysis showed that the impact of price increases tended to encourage the economy of Brunei Darussalam and Malaysia. The shock of falling oil prices tended to cause a decline in the economy of Brunei Darussalam and Malaysia. The shock of rising prices tended to hamper the economies of Indonesia and Thailand. The shock of falling oil prices did not always positively impact the economy of the importing country, especially for the balance of payments.
Implication ― These results show that price shocks will produce different economic responses. Understanding a country's macroeconomic framework is important before implementing effective policies.
Originality ― These results expand the literature on the impact of oil price shocks on macroeconomic indicators in developing countries and small open economies, while studies related to macroeconomics generally focus on growth and inflation. This study also distinguishes oil price shocks into rising and falling oil price shocks using the Mork transformation.
Universitas Islam Indonesia
2022-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Quantitative approach (VECM)
application/pdf
https://journal.uii.ac.id/JEP/article/view/21422
10.20885/ejem.vol14.iss2.art10
Economic Journal of Emerging Markets; Volume 14 Issue 2, 2022; 271-286
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/21422/14282
Copyright (c) 2022 Adawiya Taufani, Dedi Budiman Hakim, Widyastutik Widyastutik
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/21548
2022-07-07T04:49:40Z
JEP:ART
Foreign direct investment inflow: The drivers and motivations in MENA Region
Osabuohien-Irabor, Osarumwense
Purpose ― Reasons why Multinational Enterprise (MNEs) engage in foreign direct investment (hereafter referred to as FDI) abroad have been of great interest to policy markets, academia and international portfolio investors. This examines FDI inflow motives to the Middle East and North Africa (MENA) region for the period 2005 to 2019.
Design/methodology/approach ― This research paper applies both the static and dynamic panel methodologies such as SYS-GMM, fixed effects, and pooled OLS estimators to investigate the motivational factors of MNEs FDI inflows to MENA countries.
Findings ― Although specificity applies to countries, estimated results suggest that MNEs in the MENA region are predominantly interested in serving both home and host markets. Other motives such as efficiency-seeking FDI vary across countries, indicating that FDI motives are not homogeneous among region members. This paper provides useful insight for both firms and host countries in the region.
Originality/value ― This research paper investigates the factors that motivate MNEs to consider FDI decisions in MENA countries. Rather than investigate the individual countries within the region as done in existing literature, this research paper simultaneously examines MNEs' investment motivations in the MENA region. The findings are significant, plausible and in line with the economic development of most countries in the region.
Universitas Islam Indonesia
2022-04-26
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/21548
10.20885/ejem.vol14.iss1.art1
Economic Journal of Emerging Markets; Volume 14 Issue 1, 2022; 1-14
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/21548/13544
Copyright (c) 2022 osarumwense osabuohien-Irabor
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/21683
2023-04-11T02:18:38Z
JEP:ART
Intensity of the creative economy agency and partnership in empowering micro and small enterprises
Dewanta, Awan Setya
Sidiq, Sahabudin
Micro Small Enterprises
Partnership
Institution
L26
M13
O10
Purpose ─ This paper analyzes the determinants of micro and small enterprise company performance and its employees in Indonesia using a data set covering 2010 – 2019.
Method ─ This study uses the robust estimation of the panel data regression method to estimate an alternative least squares regression that does not require strict assumptions and is not sensitive to outliers.
Findings ─ The study's findings are as follows: 1) Improving resources, markets, entrepreneurs, and institutions has different impacts on business performance and workers' compensation due to the complexity and size of businesses, 2) The formal education of micro and small business entrepreneurship and institutionalization of partnerships have improved workers' compensation but not business performance, 3) Improving resource access, market orientation, and policies indirectly implemented by the Creative Economy Agency have improved business performance but not workers' compensation. Therefore, programs aimed at enhancing productivity of entrepreneurs and workers through partnerships are a key factor in improving the competitiveness of micro and small enterprises.
Originality ─ Four determinants of the business environment of micro and small enterprises were analyzed to determine their impact on entrepreneur and worker performance, in order to identify the key factors contributing to the successful empowerment of these businesses.
Universitas Islam Indonesia
2023-04-11
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
robust regression methods
application/pdf
https://journal.uii.ac.id/JEP/article/view/21683
10.20885/ejem.vol15.iss1.art5
Economic Journal of Emerging Markets; Volume 15 Issue 1, 2023; 56-71
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/21683/15043
Copyright (c) 2023 Awan Setya Dewanta
https://creativecommons.org/licenses/by-sa/4.0
oai:ojs.jurnal.uii.ac.id:article/22481
2022-12-28T05:30:42Z
JEP:ART
Competition and banks' financial performance in dual banking: Evidence from efficiency-adjusted market power
Khattak, Mudeer Ahmed
Ali, Mohsin
Khan, Noureen A.
Purpose ― This paper examines banking competition's effect on Malaysia's financial performance from 2008–2020. This study investigates the relationship between banks' market competition and financial performance by examining banks' profits and risks. Further, this current study examines whether the association differs for Islamic banks.
Methods ― The research studies Malaysia as a sample country and employs a data span from 2008-2020. In order to address omitted variable bias, simultaneity and endogeneity are avoided using a two-step GMM model.
Findings ― Our results recommend that more competition inspires the banking sector to invest in risky ventures to offset the losses in revenues. Moreover, banking today is still based on basic banking operations like granting loans (or financing in Islamic banks), collecting deposits, and managing payment systems.
Implication ― Since our findings show a negative effect of competition on the bank's financial performance, we suggest that competition lowers banks' profits and results in greater risk. It is suggested that regulators and policymakers develop the financial infrastructure in terms of controlled competition in banking and encourage banks to diversify their operations efficiently. We find no significant difference in the association between conventional and Islamic banking.
Originality ― This research is the first to examine the effect of bank competition on the financial performance of a developed dual banking system using the efficiency-adjusted Lerner index.
Universitas Islam Indonesia
2022-10-31
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
application/pdf
https://journal.uii.ac.id/JEP/article/view/22481
10.20885/ejem.vol14.iss2.art8
Economic Journal of Emerging Markets; Volume 14 Issue 2, 2022; 244-258
2502-180X
2086-3128
eng
https://journal.uii.ac.id/JEP/article/view/22481/14279
Copyright (c) 2022 Mudeer Ahmed Khattak
https://creativecommons.org/licenses/by-sa/4.0
3d0a790eec33982b9d5e099ac9ef19be