The PRESCRIPTIVE ON THE IMPACT OF FINANCIAL DEVELOPMENT AND EXPORTS IN INDONESIA
Abstract
Export activities contribute to economic development so it is necessary to make various efforts to increase exports in a country. Exports are influenced by factors that become a country's comparative advantage in conducting international trade. The superior factor discussed in this journal is the development of the financial sector. An advanced financial sector can reduce industrial exporters' barriers to exporting, especially barriers to funding and shipping. This research aims to look at the impact of financial development on exports in Indonesia. This research uses descriptive analysis methods. The results of the descriptive analysis show that the increase in financial development is not accompanied by an increase in exports in Indonesia which is due to a lack of channeling funds to the exporter sector and there are obstacles to carrying out export activities.
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Leibovici (2021). Financial Development and International Trade. Journal of Political Economy, University of Chicago Press, vol. 129(12), pages 3405-3446.
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Rajan, R. and Zingales, C.L. (1996) Financial Dependence and Growth. The American Economic Review, 88, 559-586.
Risnitia, Hapta. (2020). Pengaruh Ekspor dan Impor terhadap Pertumbuhan Ekonomi di Indonesia. Undergraduate Thesis. Universitas Islam Riau.
Sare, Yakubu; Aboagye, Anthony; Mensah, Lord. (2019). Financial development, sectoral effects, and international trade in Africa: An application of pooled mean group (PMG) estimation approach. International Journal Financial Economics. vol. 24(1), pages 328-347.
Sudirman; Kondolayuk, Marilyn; Sriwahyuningrum, Ayunda; Cahaya, Elia; Astuti, Seri; Setiawan, Jan; Tandirerung, Yavet; Rahmi, Sitti; Nusantari, Oga; Indrawati, Farah; Fittriya, Laili; Aziza, Nurul; Kurniawati, Nia; Wardhana, Aditya; Hasanah, Tita. (2020). Metodologi Penelitian 1. Bandung: Media Sains Indonesia.
Yanwardhana, Emir. (2021). Pak Jokowi! Ada Masalah Serius yang Hambat Ekspor RI Nih. CNBC Indonesia. Diakses dari https://www.cnbcindonesia.com/news/20210608113008-4-251366/pak-jokowi-ada-masalah-serius-yang-hambat-ekspor-ri-nih
Baldwin, R. and Krugman, P. (1989) Persistent Trade Effects of Large Exchange Rate Shocks. Quarterly Journal of Economics, 104, 635-654. Diakses pada https://doi.org/10.2307/2937860
Bao Qun, Yang Xiaoxiao, Lai Mingyong (2004). An empirical study on China’s saving-investment transformation ratio: 1978−2002. Statistical Research, 9: 12−19
Beck T (2002). Financial development and international trade: Is there a link. Journal of International Economics, 57: 107−131
Beck, T. (2003): “Financial Dependence and International Trade,” Review of International Economics, 11(2), 296–316.
Bunje, Abendin, dan Wang (2022). The multidimensional effect of financial development on trade in Africa: The role of the digital economy. Telecommunications Policy, Elsevier, vol. 46(10).
Caporale, Guglielmo Maria & Sova, Anamaria Diana & Sova, Robert, (2022). The direct and indirect effects of financial development on international trade: Evidence from the CEEC-6. Journal of International Financial Markets, Institutions & Money 78 hal 1-16
Chaney, E. (2013). Revolt On The Nile: Economic Shocks, Religion, And Political Power. Econometrica, 81(5), 2033–2053. http://www.jstor.org/stable/23524311
Dahlan Siamat, 2005. Manajemen Lembaga Keuangan. “Kebijakan Moneter dan Perbankan”, Jakarta : Fakultas Ekonomi Universitas Indonesia, edisi kesatu
Deardorff, A. V. (1982). The General Validity of the Heckscher-Ohlin Theorem. American Economic Review 72 (4): 683-694.
Dixit, Avinash K, 1989. "Entry and Exit Decisions under Uncertainty," Journal of Political Economy, University of Chicago Press, vol. 97(3), pages 620-638, June.
Djankov, S., Ganser, T., McLiesh, C., Ramalho, R., & Shleifer, A. (2010). The effect of corporate taxes on investment and entrepreneurship. American Economic Journal: Macroeconomics, Vol.2(3),31-64.
Douglas W. Diamond & Raghuram G. Rajan, 2001. "Liquidity Risk, Liquidity Creation, and Financial Fragility: A Theory of Banking," Journal of Political Economy, University of Chicago Press, vol. 109(2), pages 287-327, April.
Estrada, G. B., Park, D., & Ramayandi, A. (2010). Financial development and economic growth in developing Asia. Asian development bank economics working paper. No. 233. Available at: https://www.adb.org/sites/default/ files/publication/28277/economics-wp233.pdf.
Firdaus, Sabilla. (2022). Pembatasan Ekspor Nikel: Kebijakan Nasional Vs Unfairness Treatment Hukum Investasi Internasional. diakses dari https://lan.go.id/?p=10221
Gary Gorton & Andrew Winton, 2017. "Liquidity Provision, Bank Capital, and the Macroeconomy," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 49(1), pages 5-37, February.
Helpman E (1984). The factor content of foreign trade. Economic Journal, 94: 84−94
Intan, Ghita. (2023). Jokowi Minta Hentikan Ekspor Bahan Mentah. Diakses dari https://www.voaindonesia.com/a/jokowi-minta-hentikan-ekspor-bahan-mentah/7248806.html
Irawati. (2023). Langkah BI Jaga Momentum Pertumbuhan Ekonomi Indonesia. Diakses dari https://infobanknews.com/langkah-bi-jaga-momentum-pertumbuhan-ekonomi-indonesia/
James E. Anderson & Eric van Wincoop, 2004. "Trade Costs," Journal of Economic Literature, American Economic Association, vol. 42(3), pages 691-751
Kementerian Koordinator Bidang Perekonomian Ri. (2023). Pemerintah Perkuat Posisi Indonesia dalam Perdagangan Global dengan Percepat Penyelesaian Perjanjian Multilateral (Nomor 248). Jakarta: Haryo Limanseto. Diakses dari https://ekon.go.id/publikasi/detail/5253/pemerintah-perkuat-posisi-indonesia-dalam-perdagangan-global-dengan-percepat-penyelesaian-perjanjian-multilateral
Kletzer, K., Bardhan, P., 1987. Credit markets and patterns of international trade. Journal of Development Economics 27, 57–70.
Kohn, Leibovici, Szkup (2020). Financial frictions and export dynamics in large devaluations. Journal of International Economics 122 hal 1-13.
Kulu dan Ennin (2023). African growth and opportunity act (AGOA) and exports of Sub-Saharan African countries to the United States of America: Does credit matter?. Heliyon 9 (7), 1-11.
Leibovici (2021). Financial Development and International Trade. Journal of Political Economy, University of Chicago Press, vol. 129(12), pages 3405-3446.
Levine R (1997). Financial development and economic growth: Views and agenda. Journal of Economic Literature, 35: 688−726
Manova, K. (2013): “Credit Constraints, Heterogeneous Firms, and International Trade,” Review of Economic Studies, 80, 711–744.
Muchson. (2017). Statistik Deskriptif. Bogor: Guepedia.
Munthe, Ginting. (2014). UKM Berorientasi Ekspor Bisa Pakai Fasilitas Kredit Ekspor. Bisnis. Diakses pada
https://ekonomi.bisnis.com/read/20140406/87/217406/ukm-berorientasi-ekspor-bisa-pakai-fasilitas-kredit-ekspor.
Nasir, M. A., Ahmad, M., Ahmad, F., & Wu, J. (2015). Financial and economic stability as ‘two sides of a coin’ Non-crisis regime evidence from the UK based on VECM. Journal of Financial Economic Policy, 7(4), 327–353.
Nisaputra, Rezkiana. (2020). Krisis Moneter 1998 Akhiri Booming Perbankan Nasional. Diakses pada https://infobanknews.com/krisis-moneter-1998-akhiri-booming-perbankan-nasional/
Nurjanah, Revita. (2022). Ekspor dan Impor: Kendala yang Harus Dihadapi dan Solusi yang Dapat Dilakukan. Kumparan. Diakses dari https://kumparan.com/refitaadn/ekspor-dan-impor-kendala-yang-harus-dihadapi-dan-solusi-yang-dapat-dilakukan-1zWkrk8v64b/full
Otoritas Jasa Keuangan. (2015). Potensi Pertumbuhan Ekonomi ditinjau dari Penyaluran Kredit Perbankan Kepada Sektor Prioritas. Jakarta: Penulis.
Rajan, R. and Zingales, C.L. (1996) Financial Dependence and Growth. The American Economic Review, 88, 559-586.
Risnitia, Hapta. (2020). Pengaruh Ekspor dan Impor terhadap Pertumbuhan Ekonomi di Indonesia. Undergraduate Thesis. Universitas Islam Riau.
Sare, Yakubu; Aboagye, Anthony; Mensah, Lord. (2019). Financial development, sectoral effects, and international trade in Africa: An application of pooled mean group (PMG) estimation approach. International Journal Financial Economics. vol. 24(1), pages 328-347.
Sudirman; Kondolayuk, Marilyn; Sriwahyuningrum, Ayunda; Cahaya, Elia; Astuti, Seri; Setiawan, Jan; Tandirerung, Yavet; Rahmi, Sitti; Nusantari, Oga; Indrawati, Farah; Fittriya, Laili; Aziza, Nurul; Kurniawati, Nia; Wardhana, Aditya; Hasanah, Tita. (2020). Metodologi Penelitian 1. Bandung: Media Sains Indonesia.
Yanwardhana, Emir. (2021). Pak Jokowi! Ada Masalah Serius yang Hambat Ekspor RI Nih. CNBC Indonesia. Diakses dari https://www.cnbcindonesia.com/news/20210608113008-4-251366/pak-jokowi-ada-masalah-serius-yang-hambat-ekspor-ri-nih
Published
2024-06-12
How to Cite
FAIZA, Laila Niswatul; WARDHONO, Adhitya; YULIATI, Lilis.
The PRESCRIPTIVE ON THE IMPACT OF FINANCIAL DEVELOPMENT AND EXPORTS IN INDONESIA.
Jurnal Ekuilibrium, [S.l.], v. 8, n. 1, p. 26-41, june 2024.
ISSN 2722-211X.
Available at: <https://jurnal.unej.ac.id/index.php/JEK/article/view/46421>. Date accessed: 03 july 2024.
doi: https://doi.org/10.19184/jek.v8i1.46421.
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