Jolianis Jolianis
Universitas PGRI Sumatera Barat, Indonesia

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PENGARUH PEMBANGUNAN INDEKS MANUSIA (IPM) DAN INVESTASI TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA Fifi Rahayu; Mardiatul Husna; Nisfil Vitra; Muhammad Kevin; Fahri Berlianda; Andini Pratiwi; Jolianis Jolianis
Jurnal Manajemen Pendidikan Vol. 11 No. 3 (2026): Regular Issue (In Progress)
Publisher : STKIP Pesisir Selatan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34125/jmp.v11i3.2675

Abstract

This study aims to analyze the influence of the Human Development Index (HDI) and investment on economic growth in Indonesia during the period 1990–2024. The study uses a quantitative approach with an associative research type and utilizes secondary data obtained from the Central Bureau of Statistics and the World Bank. The analytical method used is multiple linear regression, after first conducting a stationarity test for time series data. The results of the analysis indicate that neither HDI nor investment have a significant effect on Indonesia's economic growth, either partially or simultaneously. The HDI regression coefficient is negative (-0.014) with a probability of 0.97, while the investment regression coefficient is positive (4.17) with a probability of 0.34, both of which exceed the 10 percent significance level. The coefficient of determination (R-squared) value of 0.028 indicates that only 2.8% of the variation in economic growth can be explained by HDI and investment, while the remainder is influenced by other factors outside the research model. This finding strengthens previous research stating that HDI and investment are not always the main determinants of economic growth, so further studies are needed by considering other macroeconomic variables.
SIMULTANEOUS ANALYSIS OF INFLATION AND MONEY SUPPLY IN INDONESIA Jolianis Jolianis; Fiko Farlis; Putri Sari; Dina Amaluis
TRIKONOMIKA Vol 25 No 1 (2026): June Edition
Publisher : Faculty of Economics and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/trikonomika.v25i1.42100

Abstract

This study investigates the structural relationship between inflation and money supply in Indonesia using a simultaneous equations framework. Specifically, it examines how money supply, interest rates, fuel prices, and government expenditure affect inflation, and how inflation, interest rates, exchange rates, and household consumption affect money supply. Using annual data (1993–2024), a two-stage least squares (2SLS) model was applied. Results show inflation is jointly influenced by all tested variables, though only money supply and interest rates exert significant partial effects. Similarly, money supply is simultaneously affected by its four variables, but only inflation remains partially significant. These findings confirm a bidirectional relationship between inflation and money supply, supporting that monetary expansion drives inflationary pressures. The study highlights the value of simultaneous equation modeling for understanding macroeconomic interdependence and guiding reliable policy formulation.