Browsing by Author "Herbert Wibert Victor Hasudungan"

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    An analysis of renewable energy demand : a case study of selected Gulf Cooperation Council countries between 1990-2021
    (Universitas Islam Internasional Indonesia, 2024) Herawi, Saeed; Rima Prama Artha; Herbert Wibert Victor Hasudungan
    This thesis analyzesthe demand for renewable energy in the United Arab Emirates, Qatar, Kuwait, and Saudi Arabia from 1990 to 2021. This study investigates the impact of economic, environmental, and market factors, using panel cointegration test and panel data analysis within the renewable energy demand theory framework. These factors include Gross Domestic Product (GDP), Fossil Fuel Consumption (FFC), Carbon Dioxide Emissions (CO2), Oil Prices (OIL), and the Levelized Cost of Renewable Energy (LC) on Renewable Energy Consumption (REC) in these fossil fuel-dependent nations. The study's objective isto analyze both short-term and long-term relationships between these variables. The study reveals a strong positive correlation between Income (GDP) and Renewable Energy Consumption (REC) in the selected (GCC) countries. This suggests that economic growth is a significant driver of renewable energy demand in these nations. Additionally, the findings indicate that fluctuations in Oil Prices (OIL) substantially impact (REC), with higher prices stimulating increased adoption of renewable energy alternatives. Moreover, the Levelized Cost of Renewable Energy (LC) is a critical determinant of (REC), as lower (LC) values correspond to higher adoption rates. These results emphasize the importance of economic factors in the GCC's transition to a renewable energy-based economy. However, the study found no significant relationship between Fossil Fuel Consumption (FFC) and renewable energy demand, indicating that a decrease in fossil fuel usage does not necessarily drive the transition towards renewables. The dominance of fossil fuels in (GCC) countries, supported by availability, infrastructure, and economic advantages, hinders the shift to renewables. Additionally, (CO2) emissions did not affect Renewable Energy Consumption (REC) within the studied period. This is because consumer preferences and national investments need to be stronger to shift the market towards renewables in response to (CO2) emissions changes. In addition, current environmental policies may need to be stronger to significantly impact Renewable Energy Consumption (REC), as the focus has historically been on oil production and revenue. The study recommends policies to help the (GCC) transition to sustainable energy while promoting economic growth. Key strategies include increasing renewable energy investment, reducing reliance on fossil fuels through subsidy reforms and carbon taxes, encouraging renewable technology innovation, and implementing carbon pricing. Furthermore, dynamic pricing mechanisms should adjust renewable energy incentives in response to changes in Oil Prices (OIL), ensuring competitiveness and environmental sustainability.
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    Analyzing the impact of public health insurance claims and government health expenditure on Indonesia's economy
    (Universitas Islam Internasional Indonesia, 2024) Wafdah Layli Rizqiyah; Indra Gunawan; Herbert Wibert Victor Hasudungan
    This study contains various discussions related to the impact of government spending in the health sector, as well as the impact of public health insurance claim costs on economic growth in Indonesia during the period 2014 - 2023. Therefore, in conducting various analyses on short-term and long-term relationships related to these variables, an approach called Auto-Regressive Distributed Lag (ARDL) is needed. In addition, as a control variable applied to the urban population and the Consumer Price Index (CPI), this variable is used with the aim of separating the various influences of independent variables related to economic growth in Indonesia. The results show that public health insurance claims have a positive and significant impact on GDP per capita and Real GDP in the short and long run. This indicates that increased access to health services through BPJS Kesehatan contributes to increased labor productivity, which in turn boosts real economic growth. Government health expenditure does not show a significant effect on GDP per capita, either in the short or long run. This suggests that government health spending may not have been managed effectively to make a strong contribution to sustainable economic growth. This finding emphasizes the importance of improvements in the allocation and efficiency of health spending to support economic growth. Control variables such as urban population and CPI also play an important role in this analysis. Urbanization impact on GDP per capita is more variable, with potential negative impacts in the short term due to pressure on infrastructure and public services. Inflation, as measured by the CPI, has a significant impact in the short term on GDP per capita but the effect does not persist in the long term, highlighting the need for prudent inflation management to maintain economic stability. Overall, this study concludes that improving access and efficiency of health insurance claims through BPJS Kesehatan can be a key driver of economic growth in Indonesia, particularly through improving labor productivity and individual welfare. However, to achieve sustainable economic growth, more comprehensive policies are needed, including reforms in the management of government health spending, better management of urbanization, and effective inflation control. The findings provide important insights for policymakers in formulating more effective and sustainable economic strategies.
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    Analyzing the market conditions and long-term dynamics in the biodiesel industry
    (Taylor & Francis, 2024-07-02) Muhammad, Mansur; Herbert Wibert Victor Hasudungan
    The Indonesian energy industry is working towards achieving net zero emissions by reducing energy composition between renewables and non-renewables. Based on this background, this study investigates the biodiesel market conditions and its long-term sustainability using monthly data from January 2014 to October 2023. The study applies the 3SLS, Johansen and bound test approach to cointegration for estimations. Findings from the study show that demand for biodiesel in Indonesia is price inelastic, which implies that the response of demand on small price changes is high due to the availability of substitute products. The Walrasian coefficient is negative and statistically significant, suggesting a partial disequilibrium in the biodiesel market. Furthermore, the blending mandatory of biodiesel is found to be sustainable in the long run as shown by the bound f-statistics and Johansens’ trace statistics. The increasing prices of crude palm oil, catalysts, methanol, and glycerin have a devastating effect on biodiesel production. Exchange rate depreciation is also a negative function of biodiesel production. These findings are crucial for industry stakeholders and policymakers to make informed decisions about resource allocation, cost management, and strategies to enhance the sustainability and efficiency of biodiesel production processes.
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    The impact of fish production, government policy, climate change, and marine biodiversity as blue economy factors on food security : a panel data analysis
    (Universitas Islam Internasional Indonesia, 2024) Azzam Robbani; Dionisius Ardiyanto Narjoko; Herbert Wibert Victor Hasudungan
    This study explores the intersection between the blue economy and global food security, focusing on twelve Asia-Pacific countries from 2015 to 2021. As the blue economy becomes increasingly vital in sustainable development, particularly in regions reliant on marine resources, this research aims to quantitatively assess how key blue economy factors—such as fish production, government policies, marine biodiversity, and climate change—affect food security outcomes. Using a robust dataset sourced from reputable international organizations like the Food and Agriculture Organization (FAO) and the World Bank, the study applies panel data analysis using the Fixed Effects Model (FEM) based on the Hausman test, which confirmed FEM as the most appropriate model to account for country-specific characteristics and unobserved heterogeneity. Diagnostic checks for normality, heteroscedasticity, autocorrelation, and multicollinearity were conducted to ensure the robustness of the regression models. The findings reveal that climate change exerts a statistically significant and negative impact on food security, underscoring the vulnerability of food systems to environmental variability, particularly in regions where agriculture and fisheries depend heavily on natural rainfall and stable climatic conditions. Conversely, other blue economy factors—fish production, government policies, and marine biodiversity—do not show a significant direct influence on food security within the scope of this study. This suggests that while these areas hold potential, they may require more targeted and effective policy interventions to enhance their contributions to food security. The study emphasizes the need for policy recommendations that include the promotion of sustainable aquaculture and fisheries management, climate change mitigation strategies, and the development of comprehensive regulatory frameworks. Additionally, integrating urban planning into food security strategies and engaging local communities in the implementation of Marine Protected Areas (MPAs) are crucial for conserving marine biodiversity and supporting food security. The research also highlights the importance of diversifying blue economy activities to better integrate them into the broader economic system, thereby enhancing their contribution to food security.