Analisa Pergerakan Nilai Tukar Rupiah Terhadap Dolar Amerika Setelah Diterapkannya Kebijakan Sistem Nilai Tukar Mengambang Bebas Di Indonesia

Since free-floating exchange rate system has been applied in Indonesia on August 1998, the accumulation of depreciation of rupiah against the US dollar has been about 48,7% until December 2001. This condition brings many argumentations about the reasons behind the exchange rate instability faced by Indonesia among many experts whether it is caused by economic factors or by non-economic factors. By recognizing the causes, it will be easier for the experts and government of Indonesia to formulate the solution. This research is intended to analyze the influence of economic variables, i.e. inflation, interest rate, money supply, national income in both Indonesia and The United State of America, as well as the position of the balance of International payment of Indonesia to the exchange rate movement in order to give contributions to solve the problem. Based on the result money supply becomes the only variable which has a significant influence on the exchange rate movement, instead of the other variables. Coefficient of determination of the research model is 32.5%, means that other factors, not accommodated in this research, give 67.5% influence to the exchange rate movement. These other factors can be catagorized as other economic factors or non-economic factors. Finally, it can be concluded that except the variable of money supply, most of the exchange rate movement is influenced by the other factors, which are economic factors or non economic factors

Utang Luar Negeri Pemerintah Indonesia : Perkembangan Dan Dampaknya

The economic development is the absolute requirement for the third world countries, including Indonesia. This matter is necessary to shorten the backwardness of the developing countries in order to catch up with the developed countries, especially in the economic and people\u27s welfare. In the third world countries, the government generally organized the efforts of the economic development. However, there are some problems in this matter caused by the lack of the productive economy resources, especially the capital resources which are mostly play the important role on the development matter. In order to cover the capital shortage, the government of the concerning country try to obtain the capital resources from other countries through many kinds of external debts. For the short term, the external debt will be very helpful in helping the Indonesian government to cover the deficit of the APBN as the effect of the routine expences and the huge development expenses. Therefore, the progress of economic development can be fastened according to the former planned target. However, in the long term, it happens to be that the external debt can trigger many monetary problems in Indonesia. In monetary crisis, the Indonesian\u27s external debt, including the government\u27s external debt has rapidly increased in rupiah measurement. Therefore, it makes the Indonesian government has to add the new external debt to pay the previous external debt which has been expired. The accumulation of the external debt and its interest will be paid through the Indonesian APBN by paying in step by step every year. This matter causes the lack of the Indonesian people\u27s welfare in the future. It is obvious that this matter will also add the burden of the Indonesian people, especially for those who responsible to pay taxes regularly

Free Floating Exchange Rate System Dan Penerapannya Pada Kebijaksanaan Ekonomi Di Negara Yang Berperekonomian Kecil Dan Terbuka

Since the Bretton Wood sistem collapsed in early 1970s, the free floating exchange rate system has been being applied in many countries around the world. The exchange rate system choice is based on some economic advantages that will be obtained from it, considering some economic disadvantages that might be occurred. The valuation toward the advantages and disadvantages of the exchange rate system implementation exactly depends on the national economy it self, because such economy will give some responses in different ways. In a small-opened economy, the effect that occurred in its national economy by the implementation of the floating exchange rate system will be different with the one which is received by a developed country. The exposition about the phenomenon that is happened in the small-opened economy country will become more clearly explainable by Mundell - Fleming - model which is specially developed for those purposes-, and also by some basic theories related with the topic. By using the perfectly capital mobility asumption, Mundell - Fleming model is able to explain the effect of the economic policies implementation, specially fiscal policy and monetary policy, in a small economy country that has already applied the free floating exchange rate system will be different with other countries. Fiscal policy that has been implemented in the country will not significantly alter its national income, but it will cause an alteration in its exchange rate. However, monetary policy implemented in the same countries, will cause changes in its national income as a result of its exchange rate alteration

Pengaruh Pengumuman Dividen Terhadap Perubahan Harga Saham Sebelum Dan Sesudah Ex-dividend Date Di Bursa Efek Jakarta (Bej)

This research is aimed to examine the influence of ex-dividend date on stock price movements in the Jakarta Stock Exchange. A 30-days of observation%2C divided into a 15-days period before and a 15-days period after the ex-dividend date%2C is analized by using an event study method applying the Paired Sample T-test.The result shows that the average price of stocks before the ex-dividend date are significantly different with those after the ex-dividend date. It indicates that there is a significant movement in the stocks prices between the both periods of observation due to dividend announcement. Far more than that%2C the research also reveals that the amount of the stocks price alteration is statistically the same as the amount of their dividend per share