Apupm sistem keuangan
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Transcript of Apupm sistem keuangan
Khairunnisa for Telkom University
Pasar Keuangan
Meeting Point 1Analisis Pasar Uang dan Pasar Modal
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POP UP QUESTION?
NERACA PEMBAYARAN
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INDONESIA INSIGHT2013 -2014
NERACA PEMBAYARAN 2013 2014
1. Transaksi Berjalan
Transakasi Berjalan/ PDB (%) -3.2 -3.0
2. Transaksi Modal dan Finansial USD 22,101 Mio USD 43,586 Mio
Transaksi Finansial
a. Investasi Langsung USD 23,047 Mio USD 25,686 Mio
b. Investasi Portofolio USD 12,148 Mio USD 23,393 Mio
c. Derivatif Financial USD -679 Mio USD -372 Mio
d. Investasi Lainnya USD 2,566 Mio USD 6,891 Mio
Sumber: Bank Indonesia
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Investasi Langsung Nonresiden menurut Negara Investor Utama
Sumber: Bank Indonesia
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Investasi Langsung Nonresiden menurut Sektor Ekonomi
Sumber: Bank Indonesia
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Return On Equity (ROE)
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Investasi Portofolio
Obligasi
SUN (Rp) Saham
Geopolitik Eropa Timur dan Timur Tengah
Perlambatan Ekonomi Cina/Tiongkok
Pelaksanaan Pemilu Legislatif
Ekspektasi Inflasi yang meningkat paska
kenaikan BBM bersubsidi
Percepatan Kebijakan The Fed
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KEPERCAYAANINVESTOR
Menjaga Stabilitas Perekonomian
Berkurangnya Defisit Transaksi
Berjalan
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Pop Up Question
Why are financial markets important to the health of the economy?
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Sistem Keuangan
Financial Markets
Financial Institutions
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Lender-Savers:1. Household2. Business
Firms3. Government4. Foreigners
Lender-Savers:1. Household2. Business
Firms3. Government4. Foreigners
FinancialMarkets
FinancialIntermediaries
FUNDS
FUNDS
FUNDS FUNDS
INDIRECT FINANCE
DIRECT FINANCE
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Structure of Financial Markets
• Berdasarkan cara memperoleh dana: Pasar Obligasi dan Pasar Saham
• Berdasarkan penerbitan instrumen investasi: Pasar Primer dan Pasar Sekunder
• Berdasarkan jatuh tempo instrumen investasi:• Pasar Uang dan Pasar Modal
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Function of Financial Intermediaries: Indirect Finance
• Biaya transaksi • Membagi risiko• Asimetri informasi: Adverse Selection dan
Moral Hazard
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The Money Market Instruments
• Treasury Bills • Negotiable Certificates of Deposit• Commercial Paper• Federal Funds
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The Capital Market Instruments
• Common stock• Corporate bonds• Municipal bonds• Mortgages
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Types of Financial Intermediaries
• Deposit-type Institutions• Contractual Savings Institutions• Investment Funds
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The Risks Financial Institutions Manage
• Credit Risk• Interest Rate Risk• Liquidity Risk• Foreign Exchange Risk• Political Risk
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Pop Up Quiz
What is interest rate?
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The Rate of Interest
• Asumsi:• Positive time preference
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Determinants of the Real Interest RateReal
Interest
Rate
Quantity of Lending and Borrowing
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Demand Factors
• Perubahan teknologi• Penurunan/Pengurangan pajak• Peningkatan produktivitas dari modal yang
dimiliki• Peningkatan permintaan produk • Perubahan demografis
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Supply Factors
• Penurunan pajak individu• Kebijakan bank sentral tentang jumlah uang
beredar• Perubahan perilaku nasabah penyimpan
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Pop Up Quiz
• Jika tingkat suku bunga riil 4% sedangkan tingkat inflasi 3%, maka berapakah tingkat suku bunga nominal?
• Jika nilai inflasi aktual lebih rendah dari nilai inflasi yang diekspektasi, apakah Anda akan menjadi kreditur atau debitur?