Money In Indonesia Research Articles

Pengaruh Alat Pembayaran Non Tunai Terhadap Permintaan Uang Kartal Di Indonesia

The aim of the research is to evaluate the effect of using non-cash payment instruments on the demand for currency in Indonesia. Time series data is used in the time period 2009 to 2023 with monthly observations. The analysis approach uses the Error Correction Model (ECM) to assess the correlation between variables in the short and long term. The estimation results confirm that the use of ATM/debit cards has a positive and significant impact on the need for currency, both in the short and long term. In contrast, credit card use shows a negative and significant impact on the need for currency in both time periods. Meanwhile, the use of e-money does not have an impact in the short term, but has a positive impact in the long term on the need for paper money in Indonesia. Therefore, this research suggests that Bank Indonesia should encourage more use of electronic payment tools to encourage people to reduce the use of currency, and promote the concept of a society that uses less cash (less cash society).

The Impact of Digital Currency on Demand for Money: Evidence from Indonesia

The purpose of this study is to examine the impact of digital currency transaction variables on the demand for money in Indonesia. The data used are data on the volume of mobile banking transactions, internet banking, interest rates, the level of currency fluctuations, and inflation on the demand for money for the period 2013 to 2022. Data analysis uses Autoregressive Distributed Lag (ARDL) cointegration method. The results of regression testing can be concluded that the long-term relationship is valid. In addition, using CUSUM and CUSUMQ from the quadratic test, the demand for money in Indonesia is relatively stable using the narrow definition of money, it implies that there haven't been significant and persistent shifts in either the mean or the variance of the narrow money supply. A stable demand for money suggests that the economic agents in Indonesia, such as households and businesses, are not undergoing substantial changes in their preferences or behaviors related to holding money. This stability can have implications for monetary policy and economic planning, as it indicates a certain level of predictability in the demand for money. However, it's crucial to keep in mind that economic conditions and factors influencing the demand for money can change over time. Therefore, continuous monitoring and periodic reassessment of the stability of the demand for money are necessary for accurate economic analysis and policy formulation.

ANALISIS PERBEDAAN HARGA SAHAM SEKTOR PERBANKAN YANG TERDAFTAR DI BURSA EFEK INDOSESIA SEBELUM LEGALITAS DAN SETELAH LEGALITAS UANG KRIPTO

Abstract, This study aims to empirically prove the difference of share prices in the banking sector listed on the Indonesian Stock Exchange before and after the legality of crypto money. The method used in this study is a quantitative method. The study took a sample of 41 companies over four years (two years before legality and two years after legality). The results of the research showed that there are differences in share prices before the legality and after the legality of crypto money in Indonesia in banking companies listed on the Indonesian Stock Exchange.

Pengembangan Perbankan Syariah Dalam Mendukung Inklusi Keuangan di Indonesia

The purpose of this journal is to examine the evolution of Islamic banking practices as a means of enhancing financial awareness in Indonesia. In order to increase the general public's access to products and financial services that are fair, affordable, and useful, they are referred to as financial inclusion. The Islamic banking system has become a crucial alternative in the Indonesian financial system. Deskriptif analysis is the research method used in this journal. Data are obtained through relevant secondary data sources and research studies. This analysis will show how Islamic banks operate in Indonesia, how Islamic banks maintain their financial integrity, and the problems that arise when they are expanding. Research indicates that the rise in Islamic banks has helped to increase awareness of money in Indonesia. However, numerous challenges are faced by the syariah banking sector. Several of these include inadequate infrastructure, inadequate knowledge about goods and services provided by Islamic banks, and regulations that have not yet fully addressed the root causes of the problem. Due to this, the journal also offers advice on how to resolve the issue and encourage the development of more sensitive Islamic banks in Indonesia.

Analysis of the Effect of Non-Cash Payments on the Velocity of Money in Indonesia

The purpose of this study is to analyze how the effect of non-cash payments on the Velocity of Money. This study used a quantitative approach and used multiple linear regression as the data analysis method. The population in this study is the territory of Indonesia, the sampling technique uses non-probability sampling with a type of saturated sampling technique. The secondary data used is a time series within a period of 14 years, the period 2009 to 2022 in annual form. The results of this study show that from the results of t Test, ATM/Debit Cards have a significant negative effect on the Velocity of Money. Credit Cards have a significant positive effect on the Velocity of Money. However, E-Money does not affect the Velocity of Money. Meanwhile, based on the F Test result, ATM/Debit Cards, Credit Cards, and E-Money simultaneously have a significant effect on the Velocity of Money at a confidence level of 93%. This research provides benefits for the government, society, and other institutions in the form of steps and attitudes that need to be taken to increase non-cash payment transaction value to increase the Velocity of Money in Indonesia.

Estimating the effects of electronic money on the income velocity of money in Indonesia

Estimating the effects of electronic money on the income velocity of money in Indonesia

Analysis of the Influence of Non-Cash Payment Systems, Inflation and Interest Rates on the Money Supply (M1) 2013-2022

The money supply (M1) is the main metric for assessing a country's economic well-being. The money supply measured in the M1 category is the total amount of currency and short-term deposits that are easily accessible to the public for daily transactions. In 2013–2022, this research aims to calculate the M1 impact of non-cash payment methods, inflation and interest rates. A multiple regression analysis model is used for this analysis. The findings of this research show that there is a positive correlation between the money supply (M1) in Indonesia and non-cash transactions. The money supply (M1) in Indonesia is positively impacted by inflation, although the correlation is not too strong. Interest rates have a significant effect on Indonesia's money supply (M1) and are negatively correlated with M1. Non-cash payments, inflation and interest rates also have a significant relationship with M1. .

ANALYSIS DETERMINANTS THE VELOCITY OF MONEY IN INDONESIA

This study aims to analyze the effect of gross domestic product, inflation, and interest rates on the velocity of money in Indonesia for the period 2011 quarter I to 2020 quarter IV. This type of research is descriptive research with a quantitative approach. Research data was obtained from publications by the Central Bureau of Statistics (BPS) and Bank Indonesia. The data analysis technique used Multiple Linear Regression using Eviews 12. The results stated that the gross dometic product variable partially had a negative and significant effect on velocity of money, this was indicated by the value of t count > t table, which is -4.002220 > 2.021075, while the inflation variable has no effect on velocity of money with the value of t calculate < t table, which is -0.084848 < 2.021075 and the variable interest rate has a positive effect on velocity of money with the value of t calculate > t table, which is 3.200801 > 2.021075. Simultaneously (together) gross domestic product, inflation, and interest rates have a significant effect on the velocity of money in Indonesia with f calculated > f table which is 27.04354 > 2.838745.

Prosiding Seminar Sosial Politik, Bisnis, Akuntansi dan Teknik (SoBAT) ke-5 Bandung, 28 Oktober 2023 337 ADOPSI PENGGUNAAN UANG ELEKTRONIK DI INDONESIA: SYSTEMATIC LITERATURE REVIEW

Digitalization has had a big impact in Indonesia, especially in the financial sector in the payment system where there has been a change from conventional payments using physical money to electronic money or what is commonly called e-money. The purpose of this research is to review the use of electronic money in Indonesia. This research is to analyze potential gaps in a study, and which areas are conducting research related to the use of electronic money. This research takes sources from Google Scholar from 2018-2023. After going through the screening process, 21 previous studies were reviewed related to the methodology and findings obtained.

The Comparison of ATM/Debit Card, Credit Card, and E-Money Transactions in Indonesia Before and After the Covid-19 Pandemic Period January 2018 - August 2023

The use of various electronic payment media found an unexpected momentum when the world experienced the COVID-19 pandemic. The public's usage of electronic payment media has increased, contributing to social limitations because shopping may be done remotely via mobile devices or other remote access. The purpose of this research is to analyze the differences in transactions of Payment Using Cards and Electronic Money in Indonesia before and after the COVID-19 pandemic. The data source is the Central Bank's Indonesian Banking Statistics, with monthly data ranging from January 2018 to August 2023. The data set covers the quantity, volume, and value of ATM/Debit Card transactions, as well as hypothesis testing using the Mann-Whitney U Test. All retail payment instruments, notably ATM/Debit Cards, Credit Cards, and Electronic Money, saw a significant decline during the beginning of the pandemic but thereafter experienced an increase in transaction volume and value. After the pandemic, the average number, volume, and value of ATM/Debit Card, Credit Card, and Electronic Money transactions increased significantly compared to before the pandemic. The development of electronic payments in Indonesia after the pandemic is empirical evidence that a less-cash society in Indonesia has been formed and has progressively grown in the last five years.

Investigating Intention to Use Central Bank Digital Currency in Indonesia

Central Bank Digital Currency (CBDC) is a digital currency issued by a government-controlled central bank of a particular country. Bank Indonesia as the central bank in Indonesia has been trying to develop a CBDC known as digital rupiah. Digital rupiah is expected to complement and perform same function as the fiat money in Indonesia. Research is needed to identify people’s views on the use of CBDCs. This study seeks to understand the factors that influence intention to use CBDC by adapting Technology Acceptance Model. Data were collected through questionnaires from 565 valid respondents. Partial Least Square-Structural Equation Modeling (PLS-SEM) was used to evaluate the proposed model. This study verifies that perceived usefulness, perceived ease of use, hard trust, and soft trust can influence intention to use CBDC in Indonesia, while personal innovativeness is known to influence perceived usefulness and perceived ease of use.

Analysis of Factors that Influence the Use of Electronic Money in Indonesia

This empirical study scrutinizes the factors influencing electronic money usage in Indonesia, focusing on financial literacy, security, user accessibility, and government support. Employing a quantitative approach with a descriptive and verificative analysis of data from 210 potential users, the research identifies financial literacy as a cornerstone for adoption, yet finds it insufficiently developed. Security concerns are highlighted as significant, with perceived vulnerabilities in e-money systems. Accessibility challenges, due to infrastructural and educational gaps, further impede e-money's widespread use. The government's role is deemed crucial but not yet fully effective in creating a supportive ecosystem for e-money. Despite the positive influence of these factors, the research concludes that the full potential of e-money is unrealized, with the study's limitations acknowledging unexplored variables that may also affect e-money's utilization in Indonesia. These insights aim to inform strategies to address these barriers and enhance e-money adoption in the Indonesian market.

Nazhir Legal Aspects of Cash WAQF in Indonesia in the 4.0 Era

This study aims to analyze the related law No. 41 of 2004 concerning endowments in particular the rules relating to endowment management institutions entitled to collect and manage money endowments (nadzhir waqf money) in Indonesia in the context of the era of 4.0 which emphasizes Islamic financial institutions and advances in digital technology. The method used is a qualitative research method with a normative juridical approach with data collection techniques study literature, interviews, and documentation, then analyzed through descriptive analytics. The results of this study indicate that the progress and development of technology in the 4.0 era, especially in the digitalization of the waqf program, makes the collection and management of waqf money mainly depend on the technological advancements owned by the institution, massive commitment and socialization to the public regarding money waqf, and Islamic financial institutions that collaborate with nadzhir. The recipient of the waqf money is considered to have technological devices and SDI that can support the management and collection of waqf money in Indonesia, in addition to credibility in terms of financial accountability as well as the guarantor and supervisory institutions in addition to the OJK, BWI, and DPS.
 Keywords: cash waqf, nadzhir, money

Analysis of Factors that Influence the Use of Electronic Money in Indonesia

Electronic money would be a new type of money for everyone to use for day-to-day spending. This research empirically examines the factors affecting Indonesian citizens to use electronic money. These factors are financial literacy, security of electronic money, ease of useful, and role of goverment. The research method used is quantitave research and descriptive and verificative approach. The sample of the research comprised 210 potential electronic money users in Indonesia. The research result indicate that finansial literacy, security of electronic money, ease of useful, and role of government is significantly affect the use of electronic money.

The Effect of Monetary Variable Shocks on Indonesian Portfolio Investment

Monetary variables can affect portfolio investment in the short or long term. The previous studies rarely discuss the effects of monetary variables in the long and short term on portfolio investment. This study looks at monetary indicators that affect investment portfolios in Indonesia. The methodology used in this research is to use the Vector Error Correction Model (VECM) to see the response of several variables in the short and long term. The findings suggest that monetary policy should pay special attention to Indonesia's money supply (M2) and savings to influence portfolio investment in the short term. The monetary policy transmission mechanism can use the money and expectation channels to optimize monetary variables to control investment. Meanwhile, in the long run, monetary policy portfolio investment control needs to pay attention to interest rates and savings and adjust to the set inflation target, which can be used in the interest rate channel.JEL Classification: E21, E22, E43, E51, E52 How to Cite:Fuddin, M. K., & Anindyntha, F. A., (2023). The Effect of Monetary Variable Shocks on Indonesian Portofolio Invesment. Signifikan: Jurnal Ilmu Ekonomi, 12(2), 307-326. https://doi.org/10.15408/sjie.v12i2.31525.

Money Demand Analysis through Business Cycle in Indonesia

There is still debate about the role of monetary aggregates (money demand) and their nature in the domestic economy, whether there is a direct affect and indirect affect. After the 2008 crisis, monetary aggregates became a monetary policy tool that played an important role in maintaining domestic economic stability. This study aims to examine macroeconomic variables on the demand for money in Indonesia from 2000Q1-2021Q4 using the VECM approach. The business cycle is used as a proxy for the income variable with the Hodrick-Prescott Filter method on the GDP variable. The results show that income has a high degree of variability in the demand for money and there is a sensitivity in the response of the demand for money to fluctuations in domestic interest rates. The implication of this research the application of domestic interest rates at the lowest level can encourage income which can increase the demand for money in Indonesia.

Influence of E-Service Quality on Continuance Intention with Customer Satisfaction as an Intervening Variable on LinkAja Application Users in Bandung City

The development of electronic money in Indonesia has made many people start to switch to digital payment modes as an easy solution for conducting various non-cash transactions. The city of Bandung, one of the most densely populated cities in Indonesia, is the city with the most digital payment users. One of the digital payment applications used is LinkAja. This research was conducted to determine the factors that influence the intention to continue the use of the LinkAja application in the city of Bandung. These factors include e-service quality, customer satisfaction, perceived trust, perceived risk. convenience, social value, attitude, and effort expectancy. This study used a quantitative method through data collection by distributing questionnaires online to people who live in the city of Bandung as many as 260 respondents. Data analysis techniques using Structural Equation Modeling (SEM), that is Partial Least Square (PLS) with SmartPLS v.3.2.9 software. Based on the analysis that has been done, the findings in this study indicate that perceived trust, convenience, and social value have a significant positive effect on customer satisfaction. Then, customer satisfaction has a significant positive effect on attitude. Besides that, e-service quality significant positive effect on perceived trust, customer satisfaction, continuance intention, attitude, and effort expectancy LinkAja application users in the city of Bandung. Meanwhile, Attitude also has a significant positive effect on continuance intention, the perceived risk has no significant negative effect on continuance intention. However, effort expectancy has no significant positive effect on continuance intention directly to LinkAja application users in the city of Bandung. This study recommends that LinkAja application service providers must maintain its service quality and create competitive advantages in service quality, so that the number of customer satisfaction and continuance intention to continue the use of the LinkAja application in the city of Bandung increase.

Dynamic Demand for Electronic Money in Indonesia

This study aims to analyze the demand for electronic money in Indonesia using the ARDL model, and the data used are quarterly data from 2009.1 to 2020.4. The estimation results show there is a short-term to a long-term relationship. Furthermore, interest rates, prices, and exchange rates significantly affect demand for electronic money in the short run. In contrast, income does not have a statistically significant effect on the demand for electronic money. It is necessary to conduct a study with a nonlinear model due to fluctuations in demand for electronic money in Indonesia.

Cryptocurrency assets as a physical collateral in Indonesia

Cryptocurrency investment is currently expanding quickly on a global scale as well as in Indonesia. On the one hand, cryptocurrency can be used as a medium of exchange or a form of money, which represents the original purpose of cryptocurrency. On the other hand, it can also be used as a commodity or as digital assets, also known as crypto assets. Cryptocurrency is illegal to use as money in Indonesia, but it is legal to exchange it as an asset. This study explores the legal protections for holders of collateral against the loss of crypto assets as well as how crypto assets are governed by material guarantees in Indonesia. A conceptual and statutory approach, technical analysis, and a normative legal research methodology were applied in the study. The legal material was analyzed by using the content analysis approach, which involved examining the content and legality of the material gleaned from various laws and regulations by looking at the relevant legal precedents. The discussion results discover that crypto assets fall under the definition of "intangible movable objects" as defined in article 503 BW. In addition, crypto assets had material rights in the form of material guarantees in the form of a pledge and fiduciary guarantees, allowing the parties to carry out their agreements in good faith even in the event that the collateral object is lost. These disputes could be settled through either non-litigation or litigation.

THE EFFECT OF NON-CASH PAYMENT TRANSACTIONS ON THE VELOCITY OF MONEY IN INDONESIA

This study aims to examine the effect of non-cash payment transactions on velocity of money in Indonesia. Specifically, it investigates the impact of electronic money transactions, debit card transactions, credit card transactions, and the COVID-19 pandemic on velocity of money. The research adopts a quantitative approach and utilizes time series data from 2018 to 2021 obtained from the Bank Indonesia website. Multiple linear regression analysis is employed as the analytical technique. The findings reveal that electronic money transactions do not significantly affect velocity of money in Indonesia. Debit card transactions show a negative and significant impact, while credit card transactions do not show a significant effect. Furthermore, the COVID-19 pandemic has a negative and significant influence on the velocity of money in Indonesia. Simultaneously, all the independent variables have a significant effect on the velocity of money in Indonesia. The R2 testing indicates that the independent variables explain 85.94% of the variability in the velocity of money variable, while the remaining 14.06% is attributed to other factors beyond this study.