Judul: Analisis Sistem Bagi Hasil untuk Pembiayaan Negara Tanpa Pengalihan Dana dan Default Politik
Abstrak: State financing comes from two resources, domestic capital and foreign debt. Foreign debt is an investment from foreign investor. In fact, interest bearing debt is very high, and uses a system of high interest rates resulting in greater debt. This is due to the use of a conventional economic system. This paper gives an alternative solution for the state financing system using a profit-loss sharing system. The objective of this paper is to reconstruct the equation of profit-loss sharing model for external state financing taken from the paper of Bendjilali (1994) and ratio for optimal search result for financiers in cases of no diversion of funds and political default. The result of there construction process an optimal ratio obtained by maximizing the expected profit for foreign investor and the utility function for the state.
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Judul: Analisis Sistem Bagi Hasil untuk Pembiayaan Eksternal Suatu Negara
Abstrak: Sistem pembiayaan negara melalui investasi menggunakan sistem ekonomi konvensional yang mengenakan bunga pada modal yang diinvestasikan. Bunga tersebut bersifat wajib dibayarkan pada investor bagaimanapun keadaan negara, bersifat tetap, dan telah ditentukan besarnya di awal kontrak. Selain itu berlaku sistem bunga berbunga yang menyebabkan jumlah utang dan bunganya terus terakumulasi. Karya ilmiah ini memberikan alternatif yaitu dengan menggunakan sistem bagi hasil pada sistem ekonomi syariah yang melarang adanya riba. Tantangan pembiayaan negara yaitu meyakinkan investor asing untuk menerima sistem bagi hasil tersebut. Tujuan dari karya ilmiah ini adalah mengonstruksi kembali persamaan model bagi hasil untuk pembiayaan eksternal negara yang diambil dari Bendjilali (1994) dan mencari rasio bagi hasil optimal untuk pemberi modal pada kasus di mana tidak ada default politik namun terjadi pengalihan dana. Hasilnya adalah rasio optimal, diperoleh dengan memaksimumkan keuntungan yang diharapkan bagi investor asing dan memaksimumkan fungsi utilitas (konsumsi) untuk negara.
Keyword: state financing, sharia, investment

Judul: Insecticidal Activity of Essential Oils Leaves of Cinnamomum spp. (Lauraceae) against Crocidolomia pavonana and Their Phytotoxicity on Broccoli Seedlings
Abstrak: Essential oils from leaves of 13 species of Cinnamomum were tested for their insecticidal activity on the cabbage head caterpillar Crocidolomia pavonana with leaf immerse method. The results showed that the treatment with 1% (w/v) essential oils leaves of C. celebicum, C. multiflorum, C. sintoc, and C. verum caused 21.45, 93.65, 60.30, and 76.10% mortality, respectively. Based on the results of phytotoxicity and insecticidal activity tests, C. multiflorum oil was further tested at 6 concentration levels. In all treatments, larval mortality has occurred at 24 hours after treatment (HAT) and increased at 48 HAT. LC50 of C. multiflorum oil at 24 and 48 HAT was 0.504 and 0.396%, respectively. The treatment with C. multiflorum oil at ≤0.31% did not inhibit the development of C. pavonana larvae. Determination of the chemical constituents of Cinnamomum oils were carried out by gas chromatography-mass spectrometry (GCMS). Totally, 345 compounds were identified. Methyleugenol constituted the main component (49.4%) of leaf essential oil of C. multiflorum and was assumed to be responsible for the insecticidal activity of the oil against C. pavonana larvae. LC50 of pure methyleugenol obtained at 0.365% (48 HAT) and 0.363% (72 HAT). The results showed that C. multiflorum was more effective with LC50 value equivalent to methyleugenol content of 0.32% (24 HAT) and 0.24% (48 HAT).
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