Bulletin of Monetary Economics and Banking (BMEB) / Buletin Ekonomi Moneter dan Perbankan
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Synergy of Economic Policies and Innovation in DrivingMomentum for Sustainable Global Economic Recoveryin the Era of Digital TransformationThe 16 th BMEB International Conference Special Issue
Full text linkA Financial Technology Index for Indonesia 2017 - 2020
No full textFinancial technology is a type of financial innovation that incorporates technology. Ideally, a composite indices-based measure can be used to track the flow of financial transactions. Indonesia does not have a financial technology index because there is no adequate weighing and the data is time-series data. The purpose of this study is to create a financial technology index in Indonesia and to analyze the contribution of index forming indicators. The research uses Generalized Dynamic Principal Component Analysis (GDPCA) method to provide the weight of each indicator. The highest weighting and contribution is made by the variable lender account accumulation and several fintech actors
DO BARRIERS TO DIGITAL SERVICES TRADE HAMPERECONOMIC GROWTH? EVIDENCE FROM A CROSS-COUNTRY ANALYSIS
Full text linkThis study examines the relation between trade barriers on digital services and economic growth for a panel of 44 nations from 2014 to 2020. Using the system generalised method of moments estimator and accounting for other factors, we find that trade restrictions on digital services negatively impact economic growth. This finding is consistent and robust across various digital service types and income levels. To boost economic growth, policymakers must ease trade barriers on digital services
PRICE SETTING BEHAVIOR IN AN ONLINE MARKET
Full text linkWe study price-setting behavior in the Indonesian online market before and during the COVID-19 pandemic. We surveyed 297 online and offline markets dominated by micro and small enterprises (MSEs). The results show that the online market’s price-setting behaviors apply state-dependent pricing rules and price discrimination, evaluate prices more than once a year based on current information, and immediately respond to a shock. The main factor for price changes is input cost change. Meanwhile, price rigidities are influenced by implicit contracts. The probit model shows online markets face the high-competitive market, not applying a rule of thumb pricing, and frequently changing prices regarding shock
THE IMPACT OF TECHNOLOGICAL INNOVATION ON LABOR STRUCTURE: EVIDENCE FROM VIETNAM SMES
Full text linkTo examine the technological innovation and labor structure nexus at micro level in Vietnam, this paper depends on a comprehensive dataset retrieved from the Vietnam SME Survey (VSMES) between 2005 and 2015. After accounting for endogeneity and firm heterogeneity, this study finds that technological innovation exhibits significantly positive impact on total labor of Vietnam’s SMEs. Moreover, technological innovation adoption is associated with higher rate of skilled labor while lowering the rate of unskilled labor in firms. The same results are discovered for manufacturing firms; however, the employment effect of technological innovation seems only significant in low-technology sectors
The Impact Of Covid-19 On Carbon Emissions: Empirical Evidence From China
No full textAs the global COVID-19 rages around and world, economic uncertainty increases, and green and sustainable development is facing tough challenges. Based on a panel data of 30 Chinese provinces from January to December 2020, we investigate the short-term impact of the COVID-19 pandemic on China’s carbon emissions. The results indicate that carbon emissions in China decreased considerably during the COVID-19 outbreak. This finding remains robust after replacing the core variables. The negative impact of COVID-19 on China’s carbon emissions is not sustainable in the long run though. This study provides valuable recommendations for China and other countries to achieve green economic recovery and reach climate goals in the post-epidemic era
Dual Monetary Policy and Income Inequality in Indonesia
No full textThis paper examines the effect of Indonesia’s dual monetary policy on income inequality. This issue of inequality in Indonesia remains significant, and failure to address it could lead to a major economic and social conflict. The studies of monetary policy on income inequality are still inconclusive. In Indonesia, there are limited literatures that show the effect of monetary policy on income inequality. This study shows that both monetary policies significantly affect income inequality in Indonesia where in the long run, Islamic monetary policy seems to not affecting the inequality. Hence, it can be concluded that the Islamic monetary system should be encourage to improve the inequality in Indonesi
THE ASYMMETRIC RELATIONSHIP BETWEEN MACROECONOMIC DETERMINANTS AND NON-PERFORMING LOANS: EVIDENCE FROM THE BANKING INDUSTRY OF INDONESIA
No full textNon-Performing Loans (NPLs) represent a risk that can significantly affect the financial performance of banks. This study aims to examine the macroeconomic determinants of NPLs in the Indonesian banking industry from 2005Q1 to 2019Q4. It adopts a novel approach, namely the nonlinear autoregressive distributed model and provides evidence that changes in macroeconomic conditions have an asymmetrical effect on NPLs in conventional banks, conventional rural banks, Islamic banks, and Islamic rural banks. In addition, Islamic banks have greater asymmetrical exposure to macroeconomic variables than their counterparts
DETERMINANTS OF BANK PERFORMANCE: REVISITING THE ROLE OF CEO’S PERSONALITY TRAITS USING GRAPHOLOGY
Full text linkIt is well-known that chief executive officer (CEO) plays an important role in the success of many businesses. In this study, we revisit the relationship between CEO’s personality and firm performance for 27 Vietnamese commercial banks. We use graphology to classify 299 handwritten signatures of CEOs into different personality traits such as extraversion or conscientiousness. Those personalities, among other factors (e.g., ownership, listed status, and CEOs’ experiences), are then used to explain bank performance. We document that banks with conscientious CEOs tend to outperform their counterparts
CRISIS AND CONTAGION INCRYPTOCURRENCY MARKET
Full text linkThe paper examines whether an unanticipated event like the COVID-19 crisis has strengthened the contagion in the cryptocurrency market utilizing samples of data representing the pre-crisis and post-crisis periods. Employing the wavelet coherence and DCC-GARCH(1,1) models, we identify that the cryptocurrency market started integrating from 2018 as volatility within the market reduced. Our main finding is that the cryptocurrency market is highly interconnected and that the contagion strengthened during the crisis period. We draw appropriate policy implications from these findings