Tujuan dari penelitian ini adalah untuk mengetahui faktor yang mempengaruhi pertumbuhan dari profitabilitas bank syariah di Indonesia. Penelitian ini menggunakan pendekatan kuantitatif dengan metode Autoregressive Distributed Lag (ARDL). Data yang digunakan adalah data bulanan variabel makroekonomi dan variabel perbankan periode Januari 2006 – Desember 2019. Variabel makroekonomi yang digunakan adalah Industrial Production Index, Inflasi, Nilai Tukar Rupiah terhdap dollar, suku bunga. Sedangkan variabel perbankan yang digunakan adalah Capital Adequacy Ratio, Non Performing Financing, Financing to Deposite Ratio, Biaya Operational dan Pendapatan Operational, serta variabel return on asset. Hasil dari penelitian ini adalah dalam jangka pendek hanya variabel Nilai Tukar, Biaya Operational dan Pendapatan Operational serta Non Performing Financing yang berpengaruh terhadap Return on Asset. Variabel Industrial Production Index, Inflasi, suku bunga, Capital Adequacy Ratio, dan Financing to Deposite Ratio tidak berpengaruh terhadap return on asset dalam jangka pendek. Kemudian dalam jangka panjang hasilnya sama yaitu hanya variabel Nilai Tukar, Biaya Operational dan Pendapatan Operational serta Non Performing Financing yang berpengaruh terhadap Return on Asset. Variabel Industrial Production Index, Inflasi, suku bunga, Capital Adequacy Ratio, dan Financing to Deposite Ratio juga tidak berpengaruh terhadap return on asset dalam jangka panjang. Variabel nilai tukar merupakan variabel yang paling berpengaruh dalam jangka pendek maupun jangka panjang terhadap profitabilitas of Islamic bank.  Dengan demikian penelitian ini diharapkan bisa membantu perbankan syariah dalam menganalisa faktor yang mempengaruhi profitabilitas perbankan syariah di Indonesia.  The purpose of this research is to find out the determinant factors that the growth of Islamic bank profitability in Indonesia. This research uses a quantitative approach with the Autoregressive Distributed Lag (ARDL) method. The data used is monthly data of macroeconomic variables and banking variables for the period January 2006 – December 2019. Macroeconomic variables used are the Industrial Production Index, Inflation, Rupiah Exchange Rate with the dollar, interest rate. While the banking variables used are Capital Adequacy Ratio, Non-Performing Financing, Financing to Deposit Ratio, Operational Cost and Operational Income, as well as variable return on assets. The result of this study is that in the short term only variable Exchange Rates, Operational Costs, and Operational Income and Non-Performing Financing affect Return on Assets. Variable Industrial Production Index, Inflation, interest rates, Capital Adequacy Ratio, and Financing to Deposite Ratio have no effect on return on assets in the short term. Then in the long run the result is the same is that only variable Exchange Rates, Operational Costs, and Operational Income and Non-Performing Financing affect the return on assets. Variable Industrial Production Index, Inflation, interest rates, Capital Adequacy Ratio, and Financing to Deposite Ratio also have no effect on return on assets in the long term. Exchange rate variables are the most influential variables in the short and long term on the profitability of Islamic banks. Thus, this research is expected to assist Sharia banking in analyzing factors that affect the profitability of Sharia banking in Indonesia.

This study aims to determine the effect of financial development on economic growth in ASEAN-4 during 1999-2018. This study uses the regression method and panel approaches using the Fixed Effect Model method. This research uses the FEM quantitative method and uses a stata 13 estimation tool. The panel data regression results in this study indicated that financial development has a positive relationship with economic growth. This is evident from the three financial development proxies, which have a positive correlation with economic growth domestic credit to private sector, money broad variables, market capitalization and degree of openness to reflect the real sector. Keywords: financial development, degree of openness, economic growthJEL : G2, O11, O16

This study aims to determine the influence of monetary policy on the unemployment rate in Indonesia. Unemployment is one of the fundamental problems in the economy. The unemployment problem can be overcome by monetary policy. This study used time series data with the period 1975-2016 using real money demand, economic growth, real interest rates, and real exchange rates as independent variables, and the unemployment rate as the dependent variable. The data used in this study is secondary data obtained from the World Bank. The method used is ARDL (Autoregressive Distributed Lag) which can change a static economic theory to be dynamic by taking into account the role of time explicitly. The results show that in the long run the probability value of the economic growth variable is below the 5% significance level which indicates that economic growth had a negative and significant effect on the unemployment rate. In the short run, the real interest rate, the real interest rate at lag 1, economic growth at lag 1 and lag 3, and the real exchange rate at lag 1 had a negative and significant effect on the unemployment rate. This indicates that the impact of monetary policy on the unemployment rate is temporary.Keywords: Unemployment Rate, Monetary Policy, ARDL.JEL : E24, E52, E61.

The Indonesian economy, both at the national and regional levels, tended to experience a slowdown during 2010-2019. From the demand side, household final consumption expenditure (HFCE) is the primary cause of the slowdown. Therefore, various efforts are needed to maintain and improve HFCE. One of these efforts is to keep the stability of the macroeconomic factors that influence it. This research aims to reveal the determinants of regional HFCE in Indonesia. The determinants of HFCE were investigated using a dynamic panel data regression model with the first-difference Generalized Method of Moments (FD-GMM) approach and applied to data from 33 provinces during 2010-2019. The application of FD-GMM provides valid and consistent estimates. The results of the parameter significance test provide evidence that the lagged real HFCE, real gross regional domestic product (GRDP), and government spending have a significant positive impact on real HFCE. Meanwhile, both the inflation and unemployment rates had significantly negatively impacted. Thus, the role of policymakers in maintaining the stability of the five macroeconomic factors is necessary so that HFCE increases and the economy can grow even higher.

This study aims to analyze the impact of ASEAN-China Free Trade Area (ACFTA) on the 4 major exports of plantation commodities (including the commodities of coffee, cocoa, rubber, and palm oil) in Indonesia. The trade impact is measured based on the occurrence of trade creation or trade diversion. The negative coefficient as the result of dummy FTA (Free Trade Area) measurement indicates the presence of trade diversion. Meanwhile, the positive coefficient indicates the presence of trade creation. This study examines the export of major plantation commodities of Indonesia to China and compared with the 10 major export destination countries worldwide. The findings show that trade creation exists within the commodities of coffee, rubber, and palm oil while the trade diversion exists in the commodity of cocoa.