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Abstrak :
Dalam menghadapi kondisi ekonomi global yang penuh dengan ketidakpastian, inflasi merupakan salah satu masalah besar dalam pelaksanaan pembangunan di beberapa negara khususnya negara sedang berkembang. Indonesia sebagai salah satu negara small open economy, saat ini tengah giat melakukan pembangunan ekonomi yang tentunya perlu dukungan pemerintah dalam menerapkan kebijakan fiskal yang tepat guna mencapai target pembangunan dimaksud. Namun di satu sisi peranan kebijakan fiskal dengan menerapkan sistem anggaran defisit dalam mendorong perekonomian menempatkan Indonesia pada negara dengan tingkat inflasi yang cukup tinggi dibandingkan dengan beberapa negara lainnya. Penelitian ini bertujuan untuk melihat dan mengukur pengaruh defisit anggaran terhadap tingkat harga di Indonesia dan pengkinian penelitian terdahulu terkait dampak defisit anggaran pemerintah terhadap tingkat harga di Indonesia. Metode yang digunakan dalam penelitian ini adalah metode analisis linier berganda menggunakan Ordinary Least Square (OLS) untuk melihat pengaruh sekaligus mengukur besarnya pengaruh dampak defisit anggaran pemerintah terhadap tingkat harga di Indonesia. Hasil penelitian ini menyebutkan bahwa secara statistik defisit anggaran pemerintah memiliki pengaruh positif terhadap tingkat harga di Indonesia. Hal ini menandakan bahwa inflasi pada periode penelitian selain dikendalikan oleh otoritas moneter juga dipengaruhi oleh otoritas fiskal. ......Inflation has been one the utmost growth constraints for developing economy especially in the midst of global economic uncertainty. As a small open economy, Indonesia is striving to achieve sound economic development which requires implementation of effective fiscal policy. However, the role of fiscal policy that put heavy emphasizes on budget deficit has put Indonesia to have higher inflation rate than other countries. This paper aims to observe and measure the impact of budget deficit on price level in Indonesia as well as updating the previous research on this matter. Our method relies on multiple linear analysis using Ordinary Least Square (OLS) to observe and measure the impact of government’s budget deficit on price level in Indonesia. The conclusion of our research states that, statistically, our budget deficit has positive correlation with the price level in Indonesia. This implies that inflation throughout our research period is not solely influenced by monetary authorities but conjointly affected by fiscal authorities.

Abstrak :
Defisit anggaran berperan memberikan ruang pembiayaan yang lebih dalam menstimulus perekonomian. Namun defisit anggaran yang terlalu tinggi akan membebani perekonomian pada jangka panjang. Penelitian ini bertujuan untuk mengidentifikasi hubungan non-linear antara defisit anggaran dan pertumbuhan ekonomi di Indonesia dan untuk mengestimasi nilai ambang batas dari defisit anggaran yang bermanfaat sebagai referensi empiris bagi pemerintah untuk mengoptimalkan ruang defisit anggaran dan untuk menjaga stabilitas dan kesinambungan perekonomian Indonesia dalam jangka panjang. Analisis empiris menggunakan data tahunan dengan periode 1969-2020. Hasil estimasi membuktikan adanya hubungan non-linearitas antara defisit anggaran dengan pertumbuhan ekonomi di Indonesia dan dengan menggunakan model threshold regression Hansen (2000), estimasi terhadap nilai ambang defisit anggaran adalah sebesar 2,925 persen dari PDB. Penelitian ini menemukan bukti empiris bahwa defisit anggaran yang berada di atas nilai ambang batas akan mengarah pada instabilitas perekonomian dan secara signifikan akan menghambat pertumbuhan ekonomi, sementara defisit anggaran di bawah ambang batas tidak akan membebani perekonomian. ......Budget deficit plays a role in providing more financing space to stimulate the economy. However, a budget deficit that is too high will burden the economy in the long run. This study aims to identify a non-linear relationship between the budget deficit and economic growth in Indonesia and to estimate the threshold value of the budget deficit which is useful as an empirical reference for the government to optimize the budget deficit space and to maintain the stability and sustainability of the Indonesian economy in the long term. Empirical analysis uses annual data for the period 1969-2020. The estimation results prove that there is a non-linearity relationship between the budget deficit and economic growth in Indonesia and by using Hansen's (2000) threshold regression model, the estimate of the budget deficit threshold is 2.925 percent of GDP. This study finds empirical evidence that a budget deficit that is above the threshold value will lead to economic instability and will significantly hamper economic growth, while a budget deficit below the threshold will not burden the economy.

Abstrak :
Presiden Republik Indonesia Joko Widodo menerbitkan Peraturan Pemerintah Pengganti Undang-Undang (Perppu) Nomor 1 Tahun 2020 sebagai langkah kebijakan untuk menanggulangi situasi darurat kesehatan masyarakat dari penyakit Corona Virus Disease 2019 (Covid-19). Perppu ini berisikan kebijakan pemerintah yang mengesampingkan beberapa aturan-aturan keuangan negara, salah satunya mengenai batasan defisit anggaran. Langkah Presiden ini menimbulkan pertanyaan mengapa tidak menempuh pengusulan perubahan APBN terlebih dahulu, mengapa Perppu bisa menentukan defisit APBN, dan bagaimana implikasi defisit anggaran yang melebih batas terhadap risiko fiskal. Penelitian ini menggunakan metode pendekatan yuridis normatif yakni mengacu pada norma hukum peraturan perundang-undangan, dengan spesifikasi penelitian deskriptif analitis dan hasilnya dianalisis secara kualitatif. Hasil penelitian menunjukkan Presiden mengimplementasi kewenangannya sebagai pemegang kekuasaan pemerintahan dan pengelolaan keuangan negara menerbitkan perppu agar pelaksanaan APBN dan roda pemerintahan pemerintahan dapat berjalan di masa darurat. Perppu mengubah ketentuan batas defisit anggaran yang diatur dalam Undang-Undang Nomor 17 Tahun 2003 tentang Keuangan Negara sebab memiliki kedudukan yang sama dengan UU. Peningkatan defisit anggaran berimplikasi pada risiko fiskal yang memberikan tekanan pada fiskal dan mempersempit ruang bagi pemerintah untuk membuat kebijakan-kebijakan fiskal sehingga berpotensi menurunkan kemampuan fiskal dalam menjaga kesinambungan keuangan negara. Saran bagi Pemerintah dalam membuat aturan dan kebijakan pelaksanaan dari perppu harus diikuti pengawasan yang baik untuk memastikan penyaluran dana dapat mencapai tujuan. Bagi DPR RI perlu mempersingkat tahapan pembahasan APBN Perubahan di masa darurat. Undang-undang tentang keuangan negara perlu direvisi terkait ketentuan mengenai keuangan negara pada saat keadaan darurat ......The President of the Republic of Indonesia Joko Widodo issued Government Regulation in Lieu of Law (Perppu) Number 1 of 2020 as a policy step to tackle a public health emergency situation from Corona Virus Disease 2019 (Covid-19). This Perppu contains government policies that override several regulations on state finances, one of which is about limiting the budget deficit. The President's move raises the question of why he did not propose amendments to the APBN first, why the Perppu can determine the APBN deficit, and what is the implication of a budget deficit that exceeds the limit on fiscal risk. This study uses a normative juridical approach, which refers to the legal norms of legislation, with descriptive analytical research specifications and the results are analyzed qualitatively. The results showed that in an emergency situation the time available is very short and requires extraordinary policies. The President implements his authority as the holder of government power and the management of state finances to issue a perppu so that the implementation of the APBN and the wheels of government administration can run in emergency state. The Perppu changes the budget deficit limit provisions regulated in Law Number 17 of 2003 concerning State Finance because it has the same position as the Law. An increase in the budget deficit has implications for fiscal risk that puts pressure on the fiscal and narrows the space for the government to make fiscal policies so that it has the potential to reduce fiscal capacity in maintaining the sustainability of state finances. Advice for the Government in making rules and implementation policies of the Perppu must be followed by good supervision to ensure that the distribution of funds can achieve its goals. For the DPR RI, it is necessary to shorten the stages of discussing the Revised APBN in the emergency period. The law on state finance needs to be revised in relation to provisions regarding state finances in times of emergency

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The purpose of the research is to analyze the effect of budget deficit on economic growth.This analysis implements general evalution estimator which is used in Didiek Susetyo researched (2001)......

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ABSTRAK
Islamic economists sought to find transactions that fit and conform to the principles of Islamic religion, where Islamic bonds were one of the most critical products compatible with Islam. This study aims to shed light on the impact of Sukuk as one of the alternatives available for funding expenditures and deficit in Malaysia. This research using a non-linear autoregressive distributed lag model (NARDL) during the period 1990-2016. After identifying the asymmetric effect and the dynamic multiplier of Sukuk on government budget balance during the fluctuations of the exchange rate of the Ringgit, we have found that Islamic bonds are a very useful tool in financing deficit making Malaysia a pioneering experience in the field of Islamic engineering.

Abstrak :
The main purpose of this study is to find the effect of budget deficit with foreign loans as source of funding on inflation and economic growth. This study focuses on transmission mechanism of budget deficit funding effects on inflation and economic growth. We use a specific simultaneous macroeconomic model which includes 17 behavioral equations and 18 identity equations with 6 blocks in this study, Two Stage Least Square (TSLS) method is employed to estimate the behavioral equations in the model. This study use Indonesia secondary economic data from 1970 to 2003. Econometric tests are performed to produce BLUE estimator. This study also use stochastic simulation with 10000 replications to simulate policy.The results show that using foreign loan to fund budget deficit increases both economic growth and inflation. This result is also supported by the simulation results which show that increase in the proceeds of new foreign loan increases reserves which in turn increase primary money/money supply/monetary base. Interaction of monetary base with money multiplier then increases price level. increase in capital in flow from increase in foreign loan increases government spending which also increases government spending increases in the government spending then add to government capital stock so that economic growth also increases.

Abstrak :
Tesis ini membahas mengenai praktek Collaborative Governance dalam penanganan defisit anggaran pada program Jaminan Kesehatan Nasional (JKN) di Indonesia. Pemerintah telah melaksanakan banyak program top-down dalam penanggulangan defisit anggaran pada program JKN-KIS, tetapi upaya tersebut belum menunjukkan tren positif pada peningkatan penerimaan pada Badan Penyelenggara Jaminan Sosial (BPJS) bidang Kesehatan. Keprihatinan terhadap kondisi tersebut telah menjadi perhatian berbagai pihak. Dengan berkembangnya ilmu pengetahuan dan  tekhnologi serta tingkat partisipasi masyarakat, upaya kerjasama dalam penanganan masalah publik kini tidak lagi hanya di inisiasi oleh pemerintah. Lembaga swadaya masyarakat pada kenyataannya dapat menjadi penggerak dalam tata kelola pemerintahan kolaboratif. Penelitian ini bertujuan menjelaskan kecenderungan model collaborative governance yang digunakan pada penanganan difisit anggaran pada program JKN-KIS di Indonesia. Basis teori yang digunakan adalah collaborative governance dengan pengujian dan analisis melalui model collaborative governance yang dikembangkan oleh Ansell dan Gash (2007) dan Emerson dan Nabatchi (2015). Peneliti menggunakan pendekatan postpositivism dengan metode hybrids yakni melalui analisis data kualitatif serta melakukan konversi hasil penelitan kedalam bentuk grafik keuantitatif. Hasil penelitian menunjukkan bahwa dalam praktik kolaborasi yang terjadi tidak terdapat kecenderungan yang dominan pada masing-masing model yang ada. Akan tetapi terdapat tiga kondisi yang terjadi: (1) kecenderungan pada salah satu, (2) percampuran hybrid dari kedua model kolaborasi, dan (3) tidak memiliki cenderung pada model yang ada.  Akan tetapi, terdapat perbedaan antara model collaborative governance yang dirumuskan berdasarkan kasus-kasus yang diteliti oleh Ansell dan Gash (2007) maupun Emerson dan Nabatchi (2015). Terakhir, penulis meyakini bahwa tidak ada one-size-fits-all pada setiap model dan memberikan rekomendasi yang relevan dengan hasil penelitian ini.

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This thesis discusses the practice of Collaborative Governance in dealing with budget deficits in the National Health Insurance (JKN) program in Indonesia. The government has implemented many top-down programs in overcoming the budget deficit on the JKN-KIS program, but these efforts have not shown a positive trend in increasing revenues at the Health Social Security Organizing Agency (BPJS Kesehatan). These conditions have become the concern of various parties. Through the development of science and technology and the level of community participation, efforts to collaborate in handling public problems are no longer just initiated by the government agency. In fact, non-governmental organizations can be a driver in collaborative governance. This study aims to explain the tendency of collaborative governance models used in handling budget deficits in the JKN-KIS program in Indonesia. The theoretical basis used is collaborative governance with testing and analysis through collaborative governance models developed by both Ansell and Gash (2007) and Emerson and Nabatchi (2015). This research conducted through postpositivism approach with the hybrids method that is qualitative data analysis and converting the results of the research into quantitative graphs. The results of the study show that in collaborative practices that occur there is no dominant tendency in each existing model. However, there are three conditions that occur: (1) the tendency of one, (2) hybrid mixing of the two collaboration models, and (3) not having a tendency to the existing model. However, there are differences between collaborative governance models formulated based on the cases examined by Ansell and Gash (2007) and Emerson and Nabatchi (2015). Finally, the authors believe that there is no one-size-fits-all on each model and provide relevant recommendation to the results of this study.

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This research aims to prove the hypothesis on patterns between government revenue and expenditure. The research results will add to the tax-spend debate literature. By selecting 17 developing countries as samples, the research uses the Engle-Granger co-integration approach to test the temporal relationship hypothesis between revenue and expenditure. The research found that revenue and expenditure influence one another is Egypt, Guyana, Indonesia, Jordan, Kyrgyzstan, Oman, Malaysia, Sierra Lyne, Turkey, Tunisia and the Maldives, which supports the Fiscal Synchronization Hypothesis. These countries try to increase revenue and cut spending simultaneously in an effort to control their budget deficits. In Chad, Mali and Uganda expenditure influences revenue which supports the Expenditure-Revenue Hypothesis. Fiscal policy in these three countries should aim to control expenditure in an effort to create revenue and manage the budget deficit. In Cameroon, Pakistan and Bahrain it was found that there is no relationship between revenue and expenditure, which supports the Different Institution Hypothesis. Further research is needed to measure long-term behavior patterns between revenue and expenditure and to examine the limited role of laws and budget processes. This could include the integration of several growth determinants on expenditure and revenue as related to the national budget.

Abstrak :
Penelitian dilakukan untuk mengetahui respon dinamis transaksi berjalan apabila defisit anggaran meningkat tiba-tiba melalui jalur nilai tukar dan suku bunga menggunakan data Indonesia periode 2000Q1-2013Q4 dengan model Struktural Vektor Autoregression (SVAR). Penelitian juga ingin mengetahui dampaknya terhadap PDB riil. Berdasarkan Impulse Response Function (IRF) diperoleh hasil bahwa respon transaksi berjalan atas shock defisit anggaran tidak kuat, perubahan berada pada kisaran 0,04%-0,07%. Tidak ditemukan Twin Deficits Hyphotesys dalam perekonomian Indonesia pada periode tersebut. Respon suku bunga naik dan kecil serta memerlukan tiga periode untuk memperoleh apresiasi nilai tukar. Respon PDB terhadap peningkatan defisit anggaran negatif. Berdasarkan Forecast Error Decomposition Variance (FEDV) diperoleh hasil bahwa perubahan transaksi berjalan sangat dipengaruhi pertumbuhan PDB. Pengaruh shock defisit anggaran terhadap perubahan transaksi berjalan relatif kecil.

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The study was conducted to determine the dynamic effects of budget deficits distubances on current account deficit through interest rate and exchange rate using data of Indonesia in 2000Q1-2013Q4 with Structural Vector Autoregression model. The impact on real GDP also to be learned. Result of Impulse Response Function (IRF) is that the effects of shock on current account deficit is not strong, the range are between 0.04% and 0.07%. Twin Deficits Hyphotesys is not found in the Indonesia?s economy during this period. Response of interest rates is increasing and not strong. There is need three-periods to get exchange rate appreciation. Response of GDP is negative. Using Forecast Error Variance Decomposition (FEDV) is obtained that the current account changes greatly influenced by GDP.