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All Journal Journal of Economics Research and Policy Studies Bulletin of Social Studies and Community Development
Dio Caisar Darma
Faculty of Economics and Business, Universitas Siliwangi
Economics, Econometrics & Finance

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Macroeconomic Factors Affecting the Growth of Micro and Small Industries in Indonesia Nanang Rusliana; Jumri Jumri; Arfiah Busari; Dio Caisar Darma; Jati Kusuma; Febriana Khoirun Nisa
Bulletin of Social Studies and Community Development Vol 5, No 1 (2026): Bulletin of Social Studies and Community Development
Publisher : Institute of Multidisciplinary Research and Community Service

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61436/bsscd/v5i1.pp01-16

Abstract

Micro and small industries (MSIs) play a crucial role in the national economic structure but are vulnerable to macroeconomic dynamics such as fluctuations in gross domestic product (GDP), inflation, interest rates, exchange rates, exports, unemployment, and proportion of credit and tax incentives. The instability of these economic factors can directly affect the competitiveness and resilience of MSIs, making an in-depth study of their impact highly relevant. This paper navigates the relationship between GDP, tax incentives, inflation, interest rates, exchange rates, unemployment, export value, and the proportion of credit allocated to micro industries, small industries, and MSIs as a whole. Medium-term data from 2013–2023, focusing on Indonesia, were observed using linear regression. Three main findings emerged from the analysis. First, GDP and the proportion of credit had a significant positive effect on micro industries. Second, tax incentives, interest rates, export value, and the proportion of credit had a significant positive effect on small industries. Third, the proportion of credit was the only macroeconomic factor with a significant positive effect on MSIs overall.  The empirical findings suggest that access to finance is a key determinant of MSIs performance, in contrast to other macroeconomic variables, which are often anomalous or contradictory. This reality highlights that limited access to credit critically hampers MSIS investment, growth, and productivity, even under relatively stable macroeconomic conditions. Moreover, in macroeconomic policy scenarios, transmission mechanisms such as inflation or interest rates do not always have an immediate or direct impact on MSIs due to their limited access to formal financial support. Future research is expected to analyse and re-examine the dynamic determinants of MSIs development using more diverse models and data extraction methods. Keywords: micro and small industries, macroeconomics, linear regression, Indonesia.
Tracing the economic valuation of Mount Merbabu National Park: Benefit transfer method Luthfi Alif Dinar Choirunnisa; Arkanudin Rizki Permono; Dio Caisar Darma; Dodi Tirtana
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i2.2857

Abstract

Natural resource management problems occur because the value of environmental services is often ignored compared to economic commodities, thus increasing pressure and degradation on the National Park forest area. This study analyzes the economic valuation of Mount Merbabu National Park to determine its estimated Total Economic Value (TEV), comprising direct use value (timber, non-timber products, water consumption), indirect use value (soil and water conservation, carbon sequestration, flood prevention, water transportation, and biodiversity), and non use value (option and existence value) as a quantitative basis for sustainability planning. The novelty of this study lies in the first application of the benefit transfer method to Mount Merbabu National Park, transferring reference values from the Food and Agriculture Organization (2009) report on Indonesian Conservation Forests by adjusting for an average inflation rate of 5.28% over the 23 years (2002–2025) and scaling to the park’s specific area of 5,820.49 ha. The findings estimate the 2025 economic value of the park at 82,894.81 US$/ha. Notably, Use Value dominates this figure at 77,382.23 US$ / ha, driven primarily by water consumption (32,795.54 US$/ha) and flood prevention (16,383.93 US$/ha), highlighting the vital role of direct and indirect ecological functions for the surrounding community.
Co-Authors Arfiah Busari Arkanudin Rizki Permono Dodi Tirtana Febriana Khoirun Nisa Jati Kusuma Jumri Jumri Luthfi Alif Dinar Choirunnisa Nanang Rusliana