Indonesian Economics

ABSTRAK COVID-19 adalah virus yang menyebabkan gangguan ringan pada sistem pernapasan, infeksi paru-paru yang berat, hingga kematian. Di Indonesia pandemic COVID-19 yang saat ini terus mengalami eskalasi, tidak hanya berpotensi mengakibatkan kontraksi pertumbuhan ekonomi, tetapi juga peningkatan jumlah pengangguran dalam skala besar. Penambahan jumlah pengangguran terbuka yang signifikan bukan hanya disebabkan oleh perlambatan laju pertumbuhan ekonomi, yang menurut proyeksi Center of Reform on Economics (CORE) Indonesia akan berkisar-2% hingga 2% pada tahun ini, melainkan juga disebabkan oleh perubahan perilaku masyarakat terkait pandemi Covid-19 dan kebijakan pembatasan sosial, baik dalam skala kecil maupun skala besar. Menurut CORE, dampak pandemi COVID-19 terhadap hilangnya mata pencaharian di sektor informal perlu lebih diwaspadai. Pasalnya, daya tahan ekonomi para pekerja di sektor informal relatif rapuh, terutama yang bergantung pada penghasilan harian, mobilitas orang, dan aktivitas orang-orang yang bekerja di sektor formal. Pemerintah kini tengah melakukan upaya-upaya dalam memulihkan keadaan, tidak hanya pada sektor kesehatan namun juga perekonomian. Pemerintah sudah mempersiapkan berbagai macam bantuan bagi masyarakat yang terdampak pandemi ini.

Dalam mempelajari sejarah ekonomi Indonesia, kami para mahasiswa memang tidak lepas dari buku-buku yang sifatnya sebagai rujukan utama, atau boleh dibilang sebagai buku “babon”.  Baik itu buku-buku yang berasal/merupakan-hasil dari tradisi intelektual Cornell, Leiden, ataupun Australia, semuanya memiliki sumbangsih yang tinggi bagi kajian sejarah ekonomi Indonesia. Tulisan ini akan mencoba melihat dan juga menganalisa hasil dari kajian sejarah ekonomi itu dari empat buku yang direkomendasikan oleh mas Farabi Fakih. Empat buku ini adalah The Emergence of a National Economy yang disunting oleh Howard Dick, Vincent J. H. Houben & J. Thomas L inblad; Ekonomi Indonesia 1800-2010 yang ditulis oleh Jan Luiten van Zanden & Daan Marks; Sejarah Ekonomi Modern Indonesia disunting oleh Thomas Linblad; dan Sejarah Ekonomi Indonesia disunting oleh Anne ooth, William J. O’Malley & Anna Weidemann.

Ekonomi Eropa melambat, Ekonomi USA masih belum pulih, Economic centre of gravity bergerak ke Asia dengan kecepatan Tinggi, Populasi dunia semakin menua terutama negara maju, ASEAN melakukan integrasi ekonomi "AEC 2015" Integrasi ekonomi regional, sub-regional, dan global terus berlangsung Source : http://www.oecd.org/dev/44457738.pdf MENGAPA MENGAPA MENGAPA MENGAPA PERDAGANGAN BEBAS ( PERDAGANGAN BEBAS ( PERDAGANGAN BEBAS ( PERDAGANGAN BEBAS (FTA FTA FTA FTA) ) ) )? ? ? ? Perundingan WTO/multilateral -Doha Development Agenda (DDA) belum dapat diselesaikan, terus tertunda sejak 2002-2003;

Alternative energy like Coalbed Methane becomes indispensable.
However, many Contractors haven’t glanced at this industry. Researcher makes
analysis studies about methods to accelerate the development of CBM in
Indonesia. Result from SWOT analysis, total internal factors get score 0.98 and
total external factors get a score 1:55 so when inserted into the SWOT matrix that
located at coordinates ( 0:49 , 0.77 ) which means CBM in Indonesia located in
Quadrant 1, which supports an aggressive strategy , necessary because of the size
of the strengths and opportunities in the field of CBM. Alternative strategies that
can be used like cooperation with the mining sector , competitors multiply the
CBM sector , to facilitate the licensing , provides a variety of incentives , modify
some of the provisions and standards that equate between conventional and CBM
. Required the elimination or modification of PTK 007 , equalizes the priority of
conventional and non-conventional , participation in the project downstream ,
cross-sector cooperation , there are no restrictions on the allocation of CBM gas ,
carry out the manufacture of multi- well pilot , statement formal government
regarding gas prices CBM , need incentives to stimulate reservoir , the
government appointed prospective buyer CBM gas , create the framework of
special provisions CBM PSC , the elimination of conventional oil and gas
standards , adoption of the standard of conventional oil and gas industry ,
implement the policy of " One Stop , One Permit " , use an alternative contract
with Sliding Scale Gross PSC .Economic analysis too, prove that production sharing contract in Indonesia needs to be changed into Gross PSC with Sliding Scale. Contractors can get fairly high IRR like 12.4 % on a small scale, 12.6 % on a medium scale, and 12:22 % on a large scale so obtained POT more quickly around 16 – 17 years. Modification of PTK- 007, PTK-029, repair KKS, distinguish conventional oil
and gas standards with oil and gas non – conventional. Gross PSC with Sliding
Scale sensitive with change on prices and production. At 1,500 BCF if the price
down to 30 %, the IRR down to -11.70 %, but if the price increased 30 %, IRR
would be 12.63 %. And when production down to 30 %, IRR down to -3.00 %
while production was up 30 % when the IRR will be 12.11 %. Gross PSC with
Sliding Scale provide great benefits to the government if the amount of production
above 1,000 BCF. At 1,500 BCF profits to government around US$ 5,594,000,000.

THE WORLD'S ECONOMIC FUTURE: FROM THE CRISIS TO A
GLOBAL BANKRUPTCY ?

This financial crisis in serious condition it by world oil price that highly, rise it commodity price, fall consumption, Fed rate that high, production fall, inflation pressure, unemployment rising, fall of stock price, fall growth economy, until United State economy experience stagflation. Nothing progress state were prepared help really, they submitted to United State alone contend recession deserving them. This paper analyzes the impact of the financial crisis in United States 2008 on Indonesia's economy.

Kebutuhan energi di Indonesia setiap tahun nya selalu mengalami peningkatan, namun jumlah produksi energi di Indonesia tidak mampu mengimbangi hal tersebut. Selama ini, salah satu penyumbang terbesar kebutuhan energi di Indonesia berasal dari migas konvensional, namun cadangan nya yang sudah menipis membuat alternatif lain seperti Coalbed Methane menjadi sangat diperlukan. Sayangnya, banyak kontraktor yang belum melirik industri ini karena sentimen investasi CBM yang negatif. Untuk Itulah, peneliti melakukan studi analisis mengenai metode untuk mempercepat pengembangan CBM di Indonesia. Strategi yang agresif perlu dilakukan karena besarnya kekuatan dan peluang di bidang CBM yang harus dimanfaatkan. Sistem bagi hasil di Indonesia perlu diubah menggunakan Gross PSC with Sliding Scale, hal tersebut dapat memberikan keekonomian yang menarik kepada kontraktor. Kontraktor bisa mendapatkan IRR yang cukup tinggi seperti 12.4% pada skala kecil, 12.6% pada skala sedang, dan 12.22% pada skala besar. Hal tersebut terjadi karena mengasumsikan penurunan harga yang diakibatkan modifikasi PTK-007 tentang pengadaan barang dan jasa, perbaikan KKS, dan membedakan standard migas konvensional dengan non-konvensional serta mudahnya menjual gas yang diakibatkan modifikasi PTK-029. Selain itu mengikutsertakan kontraktor dalam proyek downstream, mempermudah perizinan menjadi " 1 pintu 1 izin " , dan statement formal dari pemerintah untuk membuat harga dari gas CBM yang memerlukan harga khusus untuk membuat kontraktor tertarik sehingga nantinya dapat memberikan keuntungan yang lebih besar kepada Indonesia. Abstract Annually energy needs in Indonesia always increased, but the amount of energy production in Indonesia not able to keep it. During this time, one of the largest contributors of energy needs in Indonesia comes from conventional oil and gas, but its reserves already depleted makes another alternative like Coalbed Methane becomes indispensable. Unfortunately, many Contractors haven't glanced at this industry because of CBM investment sentiment that's negative. Growth oriented strategies are necessary due to the amount of strengths and opportunities on CBM sector that should be utilized. Production sharing contract in Indonesia needs to be changed into Gross PSC with Sliding Scale, it's can provide attractive economy to contractors. Contractors can get fairly high IRR like 12.4 % on a small scale, 12.6 % on a medium scale, and 12:22 % on a large scale. It happens because of assuming decrease in prices by modification of PTK-007 on the procurement of goods and services, repair KKS, and distinguish conventional oil and gas standards with oil and gas non-conventional plus simplify gas production sales with modification of PTK-029. Besides that by involving contractors in downstream projects, simplify licensing become "one door one permit" and formal statement from government to make prices of CBM gas that must have special price to make contractors interested so later can provide greater benefits to Indonesia.
Kata Kunci :Coalbed Methane, Production Sharing Contract, Energy.

Indonesia’s financial sector is highly dominated by the banking industry than the non-bank. It controlled almost 74% of Indonesia’s financial assets in 2014. After post-crisis restructuration, the banking sector has become stronger, with a higher capital adequacy ratio and profitability. While, the non-bank financial industry is expected to solve the problems in the Indonesian economy, as well as becoming one of the long-term economic instruments. The purpose of this study is to test and analyse the effect of financial performance and the implementation of corporate governance on the non-bank financial industry stock prices on the Indonesia Stock Exchange in 2012-1016. The research population includes the non-bank financial industry listed in IDX, as many as 37 companies. This study found the probability, managerial ownership, institutional ownership and the composition of the independent commissioner partially and simultaneously does not significantly influence the stock price of the non-bank financial industry.

Joko Widodo’s election in 2014, after a long and harshly contested presidential race, raised great expectations: not beholden to the military and political elites of the Suharto era, Indonesian people considered him a representative of new democratic forces vis-a-vis the deep-seated «New Order» legacy. Accordingly, 2015 was important to see the extent to which these great expectations would be fulfilled. Unfortunately, the new President’s record was a mixed one, as the hoped-for change, although not completely absent, was greatly constrained by Joko Widodo’s inability to overcome the resistance of the conservative forces, still well entrenched both in the opposition and inside the ruling coalition who exerted their sway against Widodo’s advanced pro-poor and reformist programme. In fact, the new President had to come to terms with these conservative forces, allying himself with at least some of the most influential politicians of the «New Order» Suharto era. Of course, this could not but adversely reflect on Joko Widodo’s credibility.
To make things more difficult, Indonesia in 2015 continued to be characterised by strong internal tensions. These were caused by the persistent discrimination against religious and ethnic minorities, by the militarisation of the outermost region of West Papua, and by a comparatively new political development in Indonesia, namely the rise of radical forms of Islam, represented by domestic organisations which claimed to be linked to the murderous Middle Eastern Islamic State (IS). Given this background, in 2015 Joko Widodo was unable to clearly take a firm stance on these issues, in spite of their potential danger of destabilisation. 
Finally, the global economic crisis represented a further considerable challenge for the new President who, in 2015, was unable to fulfil his electoral promise to free the largest economy in South East Asia from the slowdown which had begun during his predecessor’s (President Yudhoyono) last term.

Indonesia has been experiencing huge economic growth in the recent years, it is also expected by some economies magazines and sites such as Business Insider and Forbes to be one of powerful economies country in 2030 together with India and Brazil. However, it is unfortunate that its face currency, Rupiah, is one of the poorest or least valued currency in the world. To make better credibility, the government has planned redenomination since 2010. The cut of Rupiah face currency will omit 3 last digits of its old nominal. However, until 2018, the banknotes that circulate are still the same.
The fact that this program has not been implemented trigger the researcher if there might be any impact after the redenomination. This paper will add an explanation that by Soman et. Al (2007) said to be rare. The explanation elaborates that money illusion beyond the argument makes people think easier in nominal rather than real terms. Using descriptive research and comparative study with other countries that have experienced redenomination, the researcher found that this least digit in the face currency will trigger purchasing power assessment of the citizens that results in more transaction.

Keywords: redenomination, rupiah, numerosity heuristic

Page Header
ABOUT THE AUTHORS
Lestari Agusalim
Trilogi Universityluky
Indonesia

Dosen Program Studi Ekonomi Pembangunan, Universitas Trilogi
Sekretaris Pusat Studi Ekonomi Pancasila, Universitas Trilogi
Editor Jurnal Kesejahteraan Sosial, Universitas Trilogi
Lukytawati Anggraeni
IPB University

Syamsul H. Pasaribu
IPB University

ARTICLE TOOLS
How to cite item
USER
Username
lestariagusalim
Password
••••••••••
Remember me

Focus and Scope
Author Guidelines
Online Submissions
Editorial Team
Abstracting/Indexing
Ethics Statement
Citedness in Scopus
Conference Collaboration
Contact






 

  free counters
hit counter joomla View My Stats

JOURNAL CONTENT
Search
Search Scope

All

Browse
By Issue
By Author
By Title
Other Journals
HOME ABOUT LOGIN REGISTER SEARCH CURRENT ARCHIVES ANNOUNCEMENTS
Home > Vol 15, No 1 (2022) > Agusalim
The Economy of Indonesia: Driven by Physical or Human Capital?
Lestari Agusalim, Lukytawati Anggraeni, Syamsul H. Pasaribu

Abstract

This study aims to analyze whether economic growth in Indonesia is driven by physical or human capital using panel data analysis consisting of all provinces over the last nine years. The estimation results show that the Indonesian economy is more likely to be driven by physical than human capital. The formation of human capital that has a significant positive effect on economic growth is health. However, the education variable represented by the mean years schooling has no significant effect on economic growth when including the control variable in the research model. To improve the quality of education, the state requires the government to provide substantial educational spending. However, the budget has not been used optimally so that the expected achievements of graduates are not achieved. In addition, education spending has not met the criteria for quality spending. In contrast to education spending, an increase in health spending will increase economic growth by improving the quality of health and life expectancy. A healthier society will have a high level of productivity that impacts the regional and national economy.

Indonesia’s financial sector is highly dominated by the banking industry than the non-bank. It controlled almost 74% of Indonesia’s financial assets in 2014. After post-crisis restructuration, the banking sector has become stronger, with a higher capital adequacy ratio and profitability. While, the non-bank financial industry is expected to solve the problems in the Indonesian economy, as well as becoming one of the long-term economic instruments. The purpose of this study is to test and analyse the effect of financial performance and the implementation of corporate governance on the non-bank financial industry stock prices on the Indonesia Stock Exchange in 2012-1016. The research population includes the non-bank financial industry listed in IDX, as many as 37 companies. This study found the probability, managerial ownership, institutional ownership and the composition of the independent commissioner partially and simultaneously does not significantly influence the stock price of t...

“Peel The OBOR Global Scale Plan Against Its Potential & Challenges of The Indonesian Economy”

  By connecting China with various parts of the world, Xi Jinping envisions an iron silk road for China and its interests. In more detail, the 21st Century Maritime Silk Road was built as an effort to strengthen China's relations with South Asia and Southeast Asia which focuses on maritime trade. The 21st Century Maritime Silk Road will connect China's southeastern coastal areas - Fuzhou and Quanzhou in the provinces of Fujian, Guangzhou and Zhanjiang in Guangdong, Beihai in Guangxi and Haikou in Hainan - to Europe via the South China Sea and Indian Ocean in one lane, and the South Pacific in another path. From Hanoi, Vietnam, the sea route goes to the South China Sea and then the Strait of Malacca to reach Kuala Lumpur. Then joining Jakarta, Indonesia, before crossing Colombo, Sri Lanka, and Kolkata, India. Then, the sea route leads to Nairobi, Kenya, and continues north to the Red Sea and Mediterranean Sea to reach Athens, Greece, before finally in Venice. So, the 21st Century Maritime Silk Road connects important ports in China with the South China Sea, Mediterranean Sea, Indian Ocean, Africa and Europe. The main objective of the OBOR is to promote economic and social connectivity, partnerships, and security cooperation between China and related countries.

  A manifestation of China's ambition to expand its influence in each region in Asia apart from wanting to secure its energy supply lines in Central Asia by building cooperation with several countries in South Asia, so that China will eventually succeed in achieving a position as a regional leader. Besides that, the motive for hegemony is also because each country in the international system always tries to find a higher power, namely hegemony.

  The Indonesian government needs to anticipate policies coming from China by guarding Indonesia's national interests in OBOR. The vision of the World Maritime Axis must be a reference in carrying out development efforts in the Indonesian economy and defense sector, so that in practice the existence of the OBOR 21st Century Maritime Silk Road can provide absolute benefits for Indonesia. The Indonesian government through related ministries such as the Coordinating Ministry for Economic Affairs and the Coordinating Ministry for Maritime Affairs needs to maximize existing national maritime policies, so as to create synergy in efforts to develop sustainable economies in the field of the Ministry of Trade which take advantage of the position of economic cooperation activities in OBOR such as improving the quality of each export commodity so that products domestic products can compete with imported products. The Ministry of Manpower also plays an important role in minimizing the massive number of foreign workers with regulations regarding the number of foreign workers that can be absorbed if foreign investors wish to invest in Indonesia.

10 December 2021: Malaysia’s Economic Focus – Challenges in International Trade, Tourism and Investment, a presentation at the “Dialogue with the Ambassador with the Ambassador of the Republic of Indonesia and Diplomatic Staffs of the Indonesian Missions in Malaysia”, Kinta Riverfront Hotel & Suites, 10 December 2021, Ipoh, Perak, Malaysia.