INTEGRASI PASAR KARET ALAM SIT ASAP ANTARA PRODUSEN UTAMA DENGAN PASAR BERJANGKA DUNIA
The purpose of this recearch is to detemine the integration between the main producers of ribbed smoked sheet/RSS and world commodity exchange. This research used vector autoregressionmodel (VAR) with no consideration of cointegration based on the daily price data from January 2013 to December 2014....
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Bogor Agricultural University
2015-11-01
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| Series: | Jurnal Manajemen & Agribisnis |
| Online Access: | http://journal.ipb.ac.id/index.php/jmagr/article/view/11013 |
| Summary: | The purpose of this recearch is to detemine the integration between the main producers of ribbed smoked sheet/RSS and world commodity exchange. This research used vector autoregressionmodel (VAR) with no consideration of cointegration based on the daily price data from January 2013 to December 2014. The results showed that not all market’s RSS integrated. But in the short term proved that the Singapore Commodity Exchange and Tokyo Commodity Exchange affect the market price formation in Indonesia and Thailand. Overall the response of each market is relatively small to price in the Singapore and Japan stock thus less strongly affect the prices established in each market. The results also show the price at the commodity exchange of Singapore and Japan became the source of the greatest affect in explaining the variability of prices in both stock markets.<br /><br />Keywords: RSS, market integration, VAR, market price, ribbed<br /><br /><br />ABSTRAK<br /><br />Penelitian ini bertujuan mengetahui integrasi antara pasar karet alam sit asap (ribbed smoked sheet/RSS) produsen utama dengan pasar berjangka dunia. Pendekatan yang digunakan dalam penelitian ini adalah vector autoregression model (VAR) dengan pertimbangan tidak adanya kointegrasi yang terjadi berdasarkan data harga harian periode Januari 2013 sampai Desember 2014. Hasil penelitian menunjukan bahwa tidak semua pasar RSS terintegrasi. Namun dalam jangka pendek terbukti bahwa pasar berjangka Singapura dan Jepang memengaruhi pembentukan harga di pasar Indonesia dan Thailand. Secara keseluruhan respon masing-masing pasar relatif kecil terhadap guncangan harga di bursa Singapura dan Jepang sehingga kurang kuat memengaruhi harga yang terbentuk di masing-masing pasar. Hasil penelitian juga menunjukkan harga di bursa Singapura dan Jepang menjadi sumber guncangan terbesar dalam menjelaskan variabilitas harga di kedua bursa tersebut. <br /><br />Kata kunci: RSS, integrasi pasar, VAR, harga di pasar, karet<br /><br /> |
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| ISSN: | 1693-5853 2407-2524 |