Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Stephan Klasen*, Tatyana Krivobokova*, Friederike Greb**, Rahul Lahoti*, Syamsul Hidayat Pasaribu***, and Manuel Wiesenfarth**** August, 2015 Terms of use: Documents in AbstractIn this paper, we critically review conceptual and empirical issues surrounding the derivation of the international poverty line, expressed in PPP-adjusted dollars and linked to various rounds of the International Comparison of Prices (ICP). We find that there are some limitations in the current estimation of these lines, but show that statistically superior methods lead to lines that are relatively robust and confirm the $1.25 using 2005PPPs and suggest $1.67-1.71 using 2011PPPs; they also roughly confirm the current shape of the proposed 'weakly relative' poverty line. Using the new absolute line using 2011 PPPs would lead to substantially lower poverty in our estimation. The extent of the decline depends on whether and how one treats China, India, and Indonesia differently from other countries in the 2005 and 2011 PPPs. More seriously, we note that the dependence on the conceptual and empirical problems associated with the link to successive ICP rounds creates problems that have gotten worse over time so that we suggest that it would be best to consider alternatives to the current reliance on ICP rounds and the resulting PPPs. As a quick fix we propose to fix the international poverty line in national currencies using either the 2005 or 2011 level; in the medium term, we argue for global poverty measurement based on internationally coordinated national poverty measurement.

Dual banking system in Indonesia provides an excellent opportunity for the growth of Islamic banking industry in Indonesia. Islamic banking industry in Indonesia has improved in number of banks and branches but the performance of Islamic banks has decreased in recent years. This paper measures the efficiency of Islamic banking in Indonesia using the intermediation approach and the Data Envelopment Analysis (DEA) on quarterly reports of 10 Islamic Banks (BUS) and 15 Islamic Business Units (UUS). The results showed that Islamic Banks (BUS) and Islamic Business Units (UUS) in Indonesia has not been operating efficiently in its intermediation function. The estimation results of data panel regression model showed total financing and CAR have positive and significant impact, whereas the deposits have negative and significant impact to the efficiency of BUS and UUS in Indonesia.

The Composite Stock Price Index (IHSG) is an index used as an indicator of stock price movements on Indonesia Stock Exchange and reference of capital market activities. Stock securities have high risk because they do not have maturity such as bonds so volatility is one of the important things in stock investment. Investor sentiment is one of many external factors that affecting stocks volatility. Investor sentiment is one of behavioral finance assumptions which may cause systematic risk with noise so it affects stocks volatility. Therefore it is necessary to analyze the development of investor sentiment and its impact on IHSG volatility. This study used Business Tendency Index as investor sentiment proxy and monthly IHSG. Bank Indonesia Certificates is used to get excess return. GJR-GARCH method is used in this study along the periode from January 2001 to December 2015. The results showed that there is significant effect of investor sentiment on excess return. As investors are optimistic, the uncertainty in stock market will increase while IHSG volatility will increase as the average investor is pessimistic. There is noticeable leverage effect in the presence of negative shocks resulting in higher conditional variance changes compared to positive shocks on the same magnitude.

Financial inclusion is designed to increase the opportunities and society participation in the formal financial institution, especially for unbanked people. Moreover, financial inclusion is one of strategy inclusive economic growth. However, financial inclusion may lead an ineffectiveness of monetary policy. It is because financial inclusion can affect the sensitivity of interest rate, and it could cause instability demand for money. Therefore, the research aims to analyze the impact of financial inclusion on demand for money, reserve money (M0), in 36 countries for the period 2004 to 2014. The method that used is Dynamic Panel Approach. The result shows that financial inclusion stimulates the increase of demand for reserve money (M0) in developed countries. In the other hand, the increasing of financial inclusion could decrease the demand for reserve money (M0) in developing countries.DOI: 10.15408/sjie.v7i2.6838

Micro and small industry sector plays an important role in the economy of a country including Indonesia, due to its large contribution to gross domestic product and its large labor absorption. The output of the sector is influenced by economic variables and non-economic factors such as the El Nino climate phenomenon. The purpose of this study is to analyze the impact of these economic factors and the climate phenomenon on the output of micro and small industries in Java by using panel data, which are combination of cross section and time series, i.e. 6 provinces of Java from 2011 to 2017. The results showed that these economic factors have positive effect on the output while El Nino has negative effect. In accordance with these results, the government needs to actively facilitate micro and small industries in the fulfillment of economic factors and assist the business actors in anticipating and mitigating the impact of El Nino.Abstrak: Sektor industri mikro dan kecil memegang peranan penting dalam perekonomian Indonesia, karena kontribusinya yang besar terhadap produk domestik bruto dan serapan tenaga kerja. Output sektor tersebut dipengaruhi oleh faktor ekonomi dan faktor nonekonomi termasuk fenomena iklim El Nino. Tujuan penelitian ini adalah menganalisis pengaruh faktor ekonomi dan fenomena iklim tersebut terhadap output industri mikro dan kecil yang berlokasi khususnya di Pulau Jawa dengan menggunakan panel data. Data yang digunakan merupakan gabungan cross section (6 provinsi di Pulau Jawa) dan time series (tahun 2011-2017). Hasil penelitian menunjukkan bahwa faktor ekonomi berpengaruh positif terhadap produksi industri mikro dan kecil, sedangkan El Nino berpengaruh negatif. Terkait hal ini pemerintah perlu aktif memfasilitasi industri mikro dan kecil dalam pemenuhan/akses terhadap faktor-faktor ekonomi, serta membantu pelaku usaha industri mikro dan kecil dalam mengantisipasi dan memitigasi dampak El Nino.Kata kunci: El Nino, metode data panel, faktor ekonomi, industri mikro dan kecil