Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
P-Index
This Author published in this journals
All Journal Journal of Financial Literacy Journal of International Political Economy and Strategy
Rifqi Aqil Asyrof
Faculty of Economics and Business, Universitas Brawijaya

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Financial literacy in Indonesia’s remote provinces: Evidence from a two-wave panel of 11 provinces in 2016-2022 Rifqi Aqil Asyrof
Journal of Financial Literacy Vol. 1 No. 1 (2026): January 2026
Publisher : Privietlab

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Financial literacy is increasingly treated as a developmental capability; however, its subnational distribution remains uneven in large archipelagic countries. This study examines financial literacy in Indonesia's remote and outer-island contexts using a balanced two-wave panel of 11 provinces observed in 2016 and 2022. The study focuses on provinces with substantial remote-area, archipelagic, frontier, and/or underdeveloped-district characteristics: Nusa Tenggara Barat, Nusa Tenggara Timur, Kalimantan Barat, Kalimantan Tengah, Kalimantan Utara, Sulawesi Tenggara, Sulawesi Barat, Maluku, Maluku Utara, Papua Barat, and Papua. Publicly reported provincial indicators from the Otoritas Jasa Keuangan (OJK) National Survey of Financial Literacy and Inclusion are used to construct province-year measures of financial literacy, financial inclusion, and the inclusion-literacy gap. The results show that the mean financial literacy index increased from 25.55% in 2016 to 48.08% in 2022, while the mean financial inclusion index rose from 63.01% to 81.61%. The average inclusion-literacy gap narrowed from 37.45 to 33.53 pp, but the aggregate trend masked sharp heterogeneity. Nusa Tenggara Barat, Papua Barat, and Kalimantan Utara recorded large literacy catch-up, whereas Sulawesi Tenggara and Kalimantan Tengah displayed widening gaps, suggesting that formal access may have expanded faster than user capability. Panel regressions indicate a strong positive level association between inclusion and literacy, but first-difference estimates are not statistically significant, underscoring the need for caution in the causal interpretation. The study concludes that remote-area financial-literacy policy should move beyond access expansion toward capability, trust, digital safety, local-language delivery, and province-specific segmentation.
Compliance is not transformation: The substance gap in Islamic finance and the halal economy Rifqi Aqil Asyrof
Journal of International Political Economy and Strategy Vol. 1 No. 2 (2026): August 2026
Publisher : Privietlab

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55942/jipes.v1i2.2225

Abstract

Islamic finance and the halal economy are governed by two parallel certification regimes that have matured institutionally while under-delivering on their developmental promises. This commentary argues that both regimes share a single design flaw: they certify form, contractual structure in finance, ingredient, and process provenance in goods, while remaining largely silent on the outcome. The evidence was consistent across both domains. Indonesian Islamic banking assets reached IDR 1,061 trillion by March 2026, growing 10.49 percent year on year, yet the sector's share of banking assets has remained close to 7 percent for more than a decade; global sukuk issuance reached a record USD 264.8 billion in 2025, of which sustainable instruments accounted for only USD 21.5 billion; and Indonesia has certified over 13 million products as halal, overwhelmingly from micro and small enterprises, while extending mandatory enforcement to October 2026. The commentary makes three arguments: that the empirical literature comparing Islamic and conventional banks has been measuring the wrong dependent variable; that the market share plateau is a symptom of the form–substance gap rather than a marketing problem; and that halal certification now functions simultaneously as a religious institution, consumer protection instrument, and trade-governance device, with the three functions in unacknowledged tension. A measurement agenda was proposed.
Co-Authors