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"This study examines marketing system of rice, emphasizing on horizontal and vertical integration of paddy and rice, both at regional and world market. The study also anlyzes price stabilization pf appady at farm level and rice at consumer level, and examines domestic buffer stocks managed by rice. Econometric metdhos of vector autoregressive (VAR) and vector error correction model (VECM) are emplyed in this study. The results show that marketiung system of rice in Indonesia is very straightforward, involving commodity flow from paddy farmers, collector traders, rice millers, wholesalers, distributors, retail traders, and rice consumers. Rice markets in five major regions in Sumatra, Java, Kalimantan, Sulawesi, and Bali Nusa Tenggara showed horizontal market integration during the New Order regime (1968-1997)m albeit not in full integration. Rice markets were segmented during free-trade period (1998-2000), and during a managed-open market period (2001-2004). Vertical integration between paddy and ricve market only occurred during the New Order. Also, during that period, paddy price was relatively more stable than rice price in all three regimes. The study suggests that regulation in rice import should be continued, and policies on production improvmenet, land reform, and food diversification deserve more budget allocation. The government should develop regional price procurement system and strengthen rice buffer stock at regional level."

"Penelitian ini bertujuan untuk menginvestigasi ada tidaknya isu kausalitas antara perkembangan sektor keuangan dengan pertumbuhan ekonomi Indonesia. Sektor keuangan yang menjadi fokus dalam penelitian ini adalah perbankan dan pasar modal. Berdasarkan studi literatur dilakukan uji empiris terhadap data time series dari variabel sistem keuangan (perbankan dan pasar modal) dan variabel Sejalan dengan hasil Impulse Respond Function, hasil analisa Variance Decomposition juga menunjukkan bahwa perubahan pada sektor perbankan lebih berperan dalam menjelaskan adanya perubahan pada pertumbuhan ekonomi dibandingkan dengan perubahan pada pasar modal.pertumbuhan ekonomi (produk domestik bruto). Analisa dilakukan dengan metode Vektor Auto Regression (VAR) dan VECM serta Inovation Accounting (Impulse Response dan Variance Decomposition).Hasil uji kausalitas Granger menunjukkan adanya bi-directional causality antara pertumbuhan ekonomi dan perkembangan volume kredit perbankan, serta kausalitas satu arah antara perkembangan kapitalisasi pasar saham dan pertumbuhan ekonomi. Berdasarkan analisa Impulse Respond Function menunjukkan bahwa shock pada sektor perbankan maupun pasar modal memberikan respon yang positif pada pertumbuhan ekonomi, dimana shock pada sektor perbankan memberi impact yang lebih besar pada perubahan pertumbuhan ekonomi Indonesia dibandingkan dengan shock pada pasar modal.

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The objective of this paper is to investigate the causality between financial system and economic growth in Indonesia. The financial system here is focused on banking and stock market. Based on the literature we conduct an empirical test for a set of time series of financial system (banking and stock market) and economic growth (GDP), using Vector Auto Regression (VAR) and VECM as well as Innovation Accounting (Impulse Response dan Variance Decomposition).Granger causality test shows there is a bi-directional causality between economic growth and credit from banking sector while a one way direction between stock market and economic growth. Impulse Respond Function shows that shock on banking and stock market gives a positive response on economic growth, where shock on banking sector give a bigger impact on economic growth compare to shock on stock market. In line with the result from Impulse Respond Function, Variance Decomposition also shows that variant on banking sector is more significant/important in explaining the variant in economic growth than variant on stock market."

"The trnasmission of monetary policy has been an area of abundant economic research in many countries. The financial system links monetary policy and the real economy..."

"The contemporary dual monetary system is characterized by interest system in conventional system and the profit-and-loss sharing (PLS) system in Islamic system,where each of them has a different behavior in influencing the money demand and the monetary stability....."

"Changes in economic sector are main factor for economic growth in every economics. History showed that in development process of many countries,including Malaysia and Indonesia,there is a transition from agricultural to industrial and services sector...."

"Tesis ini bertujuan untuk melihat pengaruh inovasi sistem pembayaran terhadap permintaan uang di Indonesia. Dalam penelitian ini, inovasi sistem pembayaran direpresentasikan oleh perkembangan instrumen pembayaran retail yang secara luas dikeluarkan oleh perbankan seperti Automated Teller Machines (ATM, Kartu Debet, Kartu Kredit, Transaksi Kliring, dan Transaksi RTGS). Model yang digunakan dalam penelitian ini adalah Vector Error-Correction Model untuk melihat hubungan permintaan uang dengan inovasi sistem pembayaran, gross domestik produk, inflasi, dan tingkat suku bunga. Selain itu, dilakukan juga bagaimana respon permintaan uang terhadap adanya shock akibat inovasi sistem pembayaran melalui fungsi impulse response. Dari hasil studi diperoleh bahwa inovasi sistem pembayaran memiliki hubungan jangka panjang dengan permintaan uang.The thesis is devoted to investigation impact of Payment System innovations to the money demand in Indonesia. In the study, Payment System innovations are presented in the development of the certain financial products and instruments widely used in retail and wholesale banking activity (e.g., automated teller machines, credit cards, debit cards, , automated clearing houses, and wire transfers). Vector error-correction model is applied in order to study the relationship between payment system innovations, nominal interest rate, expected inflation, and real money balances in accordance with the theoretical concepts, as well as to investigate the response of money demand to payment system innovations shock by means of the impulse response function. Robustness check indicates an existence and significance of the payment system innovations? impact on the demand for money in Innovation. While payment system innovations have relationship with the demand for real money balances in the long run."

"Penelitian ini dilakukan dengan tujuan untuk menganalisis dan mengetahui hubungan dinamis jangka pendek (short-run relationship) dan jangka panjang (long-run relationship) antara nilai tukar dan indeks pasar saham terhadap FDI inflows selama periode 2003 hingga 2017 dengan menggunakan data kuartal. Metode yang digunakan dalam pengujian variabel adalah kausalitas Granger dan Vector Error Correction Model (VECM). Hasil penelitian didapatkan bahwa dari enam hubungan kausalitas yang terjadi pada tiga variabel yang diuji, hanya lima hubungan kausalitas yang signifikan. Hubungan kausalitas yang tidak ditemukan dalam penelitian ini adalah hubungan antara nilai tukar dengan pasar saham. Pada pengujian hubungan jangka pendek ditemukan hubungan negatif antara pasar saham dengan FDI inflows di negara Brazil. Selain itu, hubungan jangka panjang antara nilai tukar dan FDI inflows yang positif berada di negara China dan Afrika, sedangkan hubungan negatif berada di negara India. Hubungan positif jangka panjang antara pasar saham dan FDI inflows ditemukan di negara China dan hubungan negatif berada di Brazil, Rusia, India dan Afrika Selatan.

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The aim of this research to analyze and understand the dynamic short-run and long-run relationships between exchange rates and stock market index against FDI inflows during the period 2003 to 2017 using quarterly data. The methods used in this study are Granger causality and Vector Error Correction Model (VECM). The results showed that of the six causality relationships examed between Granger. The three variables have tested, only five relationships were significant. The relationship between exchange rates and stock market index was not significant. In the short-run relationship, there was found a negative relationship between stock market and FDI inflows in Brazil. In addition, a positive long-run relationships between exchange rates and FDI inflows can be found in China and South Africa, while negative relation can be seen in the case of Indian. The long-run positive relationships between stock market and FDI inflows was confirmed in China, while negative relations were found in Brazil, Russia, Indian and South Africa."

"Penelitian ini bertujuan untuk menganalisa hubungan antara BI Rate sebagai variabel kebijakan dengan suku bunga di pasar keuangan yang meliputi suku bunga deposito, suku bunga kredit, IHSG, dan suku bunga obligasi pemerintah. Sebagai salah satu bentuk pengujian terhadap transmisi kebija kan moneter yang berjalan melalui jalur suku bunga.Penelitian dilakukan dengan menggunakan uji kausalitas Granger dan metode Vector Auto Regression (VAR).Hasil penelitian menunjukkan bahwa pengaruh BI Rate kepada suku bunga perbankan berjalan tidak langs ung yaitu melalui perantara suku bunga SBI. Sementara, BI Rate tidak mempunyai hubungan dengan fluktuasi IHSG, tetapi BI Rate mempunyai pengaruh kuat terhadap suku bunga obligasi pemerintah.

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This research analysis is to find out the relationships between BI Rate, as a monetary policy variable, with financial market interest rate, that is banking interest rate, bond interest rate, dan capital market index (IHSG). This research is to aim as a test for the monetary policy transmissions mechanism through nterest rate channel. For the research we using Granger causality and Vector Auto Regression (VAR) method.As the results, we found that BI Rate have a indirect power to influence banking interest rate with SBI as the intermedia ry. Meanwhile, BI Rate have no power to influence capital market index, but have a power to influence the bond interest rate."

"Penelitian ini menganalisa pengaruh harga bahan bakar minyak Eceran dan Industri (premium dan solar) terhadap indeks harga kelompok komoditi pembentuk indeks harga konsumen (IHK) dan pengaruh antar indeks harga tujuh kelompok komoditi tersebut. Dengan menggunakan Vector Autoregression - Vector Error Correction Model (VAR-VECM) untuk melihat pengaruh kejutan dan kontribusi tiap-tiap variabel terhadap respon dan variabilitas variabel lainnya pada periode bulan Januari 2004 sampai dengan Desember 2008. Berdasarkan analisa impulse respon, harga bahan bakar minyak berpengaruh terhadap indeks harga kelompok komoditi pembentuk indeks harga konsumen (IHK). Pengaruhnya positif terhadap IHK rata-rata sebesar 1,263%. Hal ini bermakna bahwa harga bahan bakar minyak premium eceran berpengaruh positif mendorong meningkatnya IHK rata-rata sebesar 1,263%. Pengaruh terbesar berasal dari kejutan harga bahan bakar minyak premium eceran yang mendapat respon indeks harga kelompok komoditi rata-rata sebesar 1,052%. Kejutan harga bahan bakar minyak industri secara kumulatif mendapat respon indeks harga kelompok komoditi rata-rata sebesar 0,370%. Hal ini bermakna bahwa harga bahan bakar minyak industri berpengaruh positif mendorong meningkatnya IHK rata-rata sebesar 0,370%. Pengaruh terbesar berasal dari kejutan harga bahan bakar minyak solar yang mendapat respon indeks harga kelompok komoditi rata-rata sebesar 0,297 %. Berdasarkan analisa Variance Decomposition, kontribusi harga bahan bakar minyak industri kepada varian indeks harga kelompok komoditi rata-rata sebesar 7,82%. Kontribusi variabel harga bahan bakar minyak eceran lebih berperan dalam varian indeks harga kelompok komoditi dibandingkan harga bahan bakar minyak industri yaitu rata-rata sebesar 23,55%.

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This study analyzed the influence of retail and industrial fuel prices (gasoline and diesel fuel) to the commodity group price index of forming index consumer price index (CPI) and the effect of inter seven commodity groups price index. Using Vector Autoregression - Vector Error Correction Model (VARVECM to see the impact of shocks and the contribution of each variable to The response and variance of the other variables in the period January 2004 until December 2008. Based on Impulse Response Analysis, the result is fuel prices influence the price index of commodity groups to forming the consumer price index (CPI). The influence is positive averaged 1,263 on the CPI. This means that retail premium fuel prices encourage positive average increase of CPI 1,263% . The biggest influence comes from the premium oil price shock, which received responses the commodity groups price index average 1,052. Respond of commodities price index to industrial gasoline prices shocks average 0.370%. This means that industry fuel prices have encouraged positive CPI increased an average of 0.370%. The biggest influence comes from the premium oil price shock, which received responses the commodity groups price index average 0.297%. Based on Variance Decomposition Analysis, the contribution of industrial fuel prices to variance of commodity group price index average 7.82%. The contribution of retail fuel prices a greater role in changing the variance of the commodity group price index compared to the industry in fuel prices which averaged 23.55%."