99 research outputs found
The dynamics of foreign direct investment and exchange rates: An interconnection approach in ASEAN
No full textThis paper examines the direct and spillover effects of exchange rate on foreign direct investment (FDI) inflows in a panel of ASEAN countries from 2001 to 2018. We utilize the spatial econometric approach to accommodate the nature of spatial dependence among ASEAN countries. Our results suggest that the effect of the exchange rate depends on the source-region of FDI, implying the existence of spatial heterogeneity in ASEAN’s FDI. We also show that FDI inflows in ASEAN are not only influenced by the exchange rate of the country itself but also by those of the neighboring countries
Development of Mathematics Learning Media Based on Discovery Learning Integrated with Inderapura Culture to Improve Mathematical Problem Solving Ability for Junior High School Student of Grade VIII
No full textBased on the preliminary analysis conducted at SMP Negeri 2 Pancung , the students' mathematical problem solving ability was still low. The low ability of students to solve mathematical problems caused by (1) teachers do not use worksheet in the learning process, (2) The learning process that has not facilitated students to construct their own knowledge. Based on this problem, researchers developed mathematical learning media based on discovery learning integrated with Inderapura culture to improve students' mathematical problem solving abilities.This research was a development research conducted with the Plomp development model. This model was carried out in 3 stages. In the first stage was the preliminary research phase and it was needs analysis, curriculum analysis, student analysis and concept analysis. In the second stage was the development or prototype phase which was designed in accordance with the integrated learning discovery model of Inderapura culture. In the third stage was the assessment phase which aimed to see the effectiveness of learning media by conducting large group field tests. The subjects of this study were the eighth grade students of SMPN 2 Pancung Soal. Data collected by documentation, observation, interviews, questionnaires, and tests. Data from observations, questionnaires and tests were analyzed quantitatively and strengthened by the results of the documentation analyzed descriptive qualitative.The results showed that mathematics learning media in the form of lesson plan andworksheet based on discovery learning integrated with Inderapura culture for grade VIII in the second semester of Junior High School were produced by fulfilling valid, practical and effective categories. Validity was tested in terms of content, usage, language and graphics. Applicable in terms of application, time, ease of use and effective in terms of potential impacts on students' mathematical problem solving abilities. The conclusion was mathematics learning mediawas feasible to be used as reference material in mathematics learning, especially materials for constructing flat side spaces in gradeVIII of SMP N 2 Pancung
OPTIMAL CENTRAL BANK DIGITAL CURRENCY DESIGN FOR EMERGING ECONOMIES
No full textThe growth of digitalisation presents the possibility for Central Bank Digital Currency (CBDC) to emerge as a secure and efficient payment method. However, despite the benefits, CBDC implementation needs to be adapted to the capabilities and needs of each country. This study uses meta-strength, weakness, opportunity, and threat (meta-SWOT) analysis to assess the internal strengths and weaknesses, as well as the external opportunities and threats, to determine the most optimal CBDC design for emerging economies. In analysing internal aspects, CBDC allows for an efficient payment system, followed by a more effective monetary policy. Furthermore, the technology creates the possibility to boost financial inclusion and trace many illicit activities. However, to achieve that, high investment costs and privacy issues must be accommodated, followed by technological risks such as the digital divide and electrical outages. Turning to external aspects, growing technology, the network effect, enthusiasm for CBDC, and the impracticality of cash usage have become catalysts for CBDC development. Despite these opportunities, central banks should be wary of the threat of cyberattacks, quickening bank disintermediation, legal issues within their respective countries, and competition with private crypto companies. Altogether, the most optimal CBDC design in emerging economies is retail and wholesale coverage, interest-bearing (wholesale) and noninterest-bearing (retail) remuneration, account-based and token-based payment
systems, a traceable degree of anonymity, hybrid architecture, a Decentralised Ledger Technology (DLT) ledger system, and domestic and cross-border scope. These results are supported by rigorous examination of global CBDC research and development
Macroeconomic Consequences of Foreign Exchange Futures Market for Inflation Targeting Economies
Get PDFAlthough the discussion on foreign exchange (FX) futures market has drawn significant concern in the economic literature, this paper is the first attempt to address how the FX futures market impacts macroeconomic conditions with the inflation targeting regime. We use a dataset comprising of four emerging market countries with inflation targeting regime and active FX futures market, namely Brazil, Mexico, Turkey, and India, from January 2015 to December 2018. By utilizing Bayesian Panel Vector Autoregressions, we find that the FX futures rate shocks significantly affect the macroeconomic environment and monetary policy due to the strong relationship between the spot and futures market. We also find the initial indication of the market squeezing mechanism in the FX futures market. However, it occurs only in a small magnitude and a short period and thus, the spot exchange rate, inflation rate, and economic growth would not fluctuate abnormally. Our findings are robust for the various robustness checks
Tinjauan Perencanaan Substruktur Gedung Benquet Balai Pendidikan Dan Latihan rnPariwisata (BPLP) Ujung Pandang
No full textThe Dynamics of Foreign Direct Investment and Exchange Rates: An Interconnection Approach in ASEAN
Get PDFThis paper examines the direct and spillover effects of the exchange rate on foreign direct investment (FDI) inflows based on a panel of ASEAN countries for the period 2001 to 2018. We utilize the spatial econometric approach to accommodate the nature of spatial dependence among ASEAN countries. Our results suggest that the effect of the exchange rate depends on the source-region of FDI, implying the existence of spatial heterogeneity in ASEAN’s FDI. We also show that FDI inflows in ASEAN is not only influenced by the exchange rate of the country itself but also by those of the neighboring countries
Pasar modal islam : konsepsi dan praktik
No full textPasar modal menjadi tempat di mana perusahaan/korporasi (deficit units) bisa mendapatkan tambahan modal secara langsung dari para investor (surplus units). Sehingga bentuk transaksi antara korporasi dan pasar modal yaitu investasi langsung (direct investment). Perkembangan industri keuangan syariah global tidak hanya terbatas pada sektor perbankan saja, pasar modal Islam pun kini turut berkembang seiring dengan tuntutan kebutuhan dari pelaku ekonomi Muslim. Pasar modal Islam menjadi bagian dari industri keuangan di Indonesia. Dalam pengembangannya, baik di Indonesia maupun di tingkat global, pasar modal Islam masih menuai beberapa perbedaan dalam cara pandangnya. Dalam praktik dan aplikasinya masih belum ideal seperti teori ekonomi Islam karena beberapa faktor, salah satunya terkait dengan isu pasar sekunder
An Optimal Islamic Investment Decision in Two-region Economy: The Case of Indonesia and Malaysia
Get PDFIn this work, the possibility of cross-border activities between two regions in the framework of the investment contract is viewed as optimal allocation problems. The problems of determining the optimal proportion of funds to be invested in liquidity and technology are analyzed in two different environments. In the first case, we consider a two-region and two-technology economy in which both regions possess the same productive technology or project, but a different stream of return. While in the second case, we examine an economy where two regions (Indonesia and Malaysia) hold different Islamic productive projects with identical returns. Allocation models are formulated in terms of investors’ expected utility maximization problem under budget constraints with respect to regional and sectoral shocks. It is revealed that optimal parameters for liquidity ratio, technological investment profile, and bank repayment are analytically characterized by the return of a more productive project and the proportion of impatient and patient investors in the region. Even though both cases employ different assumptions, they provide the same expressions of optimal parameters. The model suggests that cross-border Islamic investment activities between two regions might be realized, provided both regions hold productive projects with an identical stream of return. This paper also shows that by increasing the lower return of the project approaching the higher return, a room for inter-region investment can be created. An analytical framework of an investment contract in terms of optimal allocation model is provided
Monetary Response to Exchange Rate Dynamics: Regime Switching – Chartists and Fundamentalists Application to Australia
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