Judul: Price Transmission and The Effect of Indonesia’s Export Tax on Crude Palm Oil Prices
Abstrak: The crop sector serves as one of the sources of foreign exchange in Indonesia and also contributes to the development of the Indonesian economy. The economic potential of CPO commodity in Indonesia has a huge impact by providing around 5 million employments within the agribusiness palm oil system. Indonesia is the biggest producer and exporter of CPO in the world, followed by Malaysia. As the largest CPO producer in the world, Indonesia should have control over the price and quantity of CPO. Over the past decade, there have been fluctuations in the global price of CPO. These variations in global CPO price are likely to affect the local CPO price as well. As the price of the world CPO fluctuates, Indonesia lacks alternative markets for its local production of CPO. This has resulted in a unstable in the tax revenue of CPO in Indonesia. To solve this, Goverrnment have implemented a Indonesia’s export tax on CPO in order to maintain stability in the income of the CPO producers. The aims of this research are: (1) to assess the market integration and the price transmission between the international CPO market and the domestic CPO market of Indonesia, (2) to analyze the effects of the Indonesian export tax of CPO on the domestic and on the international prices. This study uses secondary time series data that is obtained from relevant institutions. To investigate the price transmission in international CPO markets with respect to the effects of Indonesia’s export tax, several steps of this analysis consist in examining the data by using e.g. the Unit Root Test, the co-integration Test, and estimation of the Error Correction Model (ECM). The results of the price transmission analysis show that the domestic CPO market of Indonesia is integrated with the international market. In the long run, a fluctuation of price in international market will be responded by the domestic CPO market in Indonesia. In addition, although the imposition of the export tax of CPO in Indonesia makes it possible to prevent the instability of the domestic price of CPO, the level of influence is still small. It can be inferred that these policy is effective to increase government revenue as a fiscal instrument with the mininum damage to the farmers or producers of CPO.
Keyword: CPO, ECM, Export Tax, Market Integration, Price Transmission

Judul: Dampak pajak ekspor crude palm oil terhadap industri minyak goreng indonesia
Abstrak: Oil palm industry has a very important role to perform in development of Indonesian national economy. These commodities, and specifically Crude Palm Oil (CPO), have contributed immensely to the Gross Domestic Product (GDP) of Indonesia, increased international and national trade, created various forms of employment, led to growth in production and areal development, and improved the living standards as well as the financial status of the local people. Indonesia is one of the highest CPO producers in the world. The world CPO production has grown steadily and relatively faster as compared to other oil yielding crops. Export growth of Indonesian CPO can be attributed to three factors: world demand factor, product and market effects and competitiveness effects. The world demand factor reflects growth in exports that can be attributed to rising international demand, i.e. the stronger global import demand, the stronger the country’s export growth. Due to the importance of the crude palm oil to the Indonesian economy, and the world over, the Indonesian government decided to impose export tax on its CPO. Therefore, the goal of the research is to find out the impact of the CPO export tax on Indonesian cooking oil industry. The findings of the study show that export tax had been proven to be effective in controlling domestic cooking oil price, which otherwise would provide the supply more of the raw material for domestic cooking oil. With this policy, the government had been successful to keep the cooking oil price down when the world CPO price increased. The implementation of tax policy should be considered to improve the competitiveness of Indonesian CPO in the world market, and allocate the government revenue to develop the supply side of Indonesian oil palm industry. There should be an increase in investment to improve the oil palm productivity.
Keyword: Crude Palm Oil, Export Tax, Cooking Oil

Judul: Penyelesaian Masalah Pelabelan Graf vertex Magic pada Graf Cycle Sederhana
Abstrak: Graf vertex magic adalah suatu graf memiliki nilai bilangan magic yang sama pada masing-masing vertex yang berbeda. Graf cycle sederhana adalah suatu walk tertutup yang mengandung setidaknya tiga vertex, semua vertex-nya berbeda dan setiap vertex terhubungkan oleh satu edge.
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