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Analysis of Factors Influencing Exports in 5 ASEAN Countries Using a Moderation Approach Andi Isra’ Amalia; Sri Astuty; Abdul Rajab; Muhammad Syafri; Irwandi Irwandi
International Journal of Economics and Management Sciences Vol. 3 No. 1 (2026): February : International Journal of Economics and Management Sciences
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61132/ijems.v3i1.1153

Abstract

This study investigates the factors influencing export performance in five ASEAN countries Indonesia, Malaysia, the Philippines, Singapore, and Thailand during the 2014-2023 period. The topic is highly relevant given the vital role of exports in sustaining monetary stability and promoting long-term economic growth. The novelty of this research lies in its integrated approach, which simultaneously examines key export-related macroeconomic variables, namely foreign direct investment and inflation, while incorporating foreign exchange reserves as a moderating variable an approach that remains limited in existing ASEAN-focused studies. This analysis uses secondary data obtained from the World Bank and processed using panel data regression methods, including the Common Effect Model, Fixed Effect Model, and Random Effect Model, strengthened by a Moderated Regression Analysis (MRA) approach. The results show that foreign direct investment and inflation significantly influence foreign exchange reserves. Furthermore, foreign exchange reserves have been shown to play a strategic role in strengthening the economic resilience of ASEAN countries and can be used as a reference in formulating monetary and international trade policies.
Pengaruh Utang Luar Negeri Sektor Swasta dan Penanaman Modal Dalam Negeri (PMDN) terhadap PDB Sektor Industri di Indonesia Tahun 2015–2024 Riza Yuliana; Muhammad Syafri
JURNAL ILMIAH EKONOMI, MANAJEMEN, BISNIS DAN AKUNTANSI Vol. 3 No. 3 (2026): MEI
Publisher : CV. KAMPUSA AKADEMIK PUBLISING

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61722/jemba.v3i3.2280

Abstract

Penelitian ini mengkaji keterkaitan antara pembiayaan eksternal yang berasal dari utang luar negeri pada sektor swasta serta investasi yang bersumber dari dalam negeri melalui Penanaman Modal Dalam Negeri (PMDN) terhadap dinamika Produk Domestik Bruto (PDB) sektor industri di Indonesia. Seluruh analisis didasarkan pada data sekunder berbentuk deret waktu (time series) yang mencakup periode 2015 hingga 2024, dengan pengumpulan data dari BPS dan Bank Indonesia. Kajian ini juga menggunakan pendekatan kuantitatif yang diolah melalui model regresi linier berganda, setelah sebelumnya dilakukan pengujian terhadap asumsi-asumsi klasik untuk memastikan validitas estimasi model yang digunakan. Temuan empiris menunjukkan bahwa variabel utang luar negeri sektor swasta tidak menunjukkan kontribusi yang berarti terhadap perubahan PDB sektor industri. Sebaliknya, variabel PMDN memperlihatkan hubungan yang bersifat positif serta memiliki signifikansi statistik terhadap peningkatan output sektor industri. Ketika dianalisis secara simultan, kedua variabel tersebut tetap memberikan pengaruh terhadap variasi PDB sektor industri, meskipun dengan kontribusi yang berbeda. Nilai koefisien determinasi yang relatif tinggi mengindikasikan bahwa model penelitian mampu menjelaskan proporsi variasi PDB dalam tingkat yang cukup besar. Secara keseluruhan, hasil kajian ini menegaskan bahwa peran investasi domestik lebih dominan dibandingkan dengan pembiayaan eksternal dalam mendukung ekspansi sektor industri di Indonesia. Dengan demikian, penguatan arus PMDN menjadi aspek penting dalam upaya mendorong pertumbuhan ekonomi yang lebih berkelanjutan.
Determinan Pertumbuhan Ekonomi di Berbagai Wilayah di Indonesia: Pendekatan Data Panel dan Analisis Jalur ananda_ainahs Mutiara Saing; Abd. Rahim; Muhammad Syafri; Abdul Rajab; Sri Astuty
JDEP (Jurnal Dinamika Ekonomi Pembangunan) Vol. 9 No. 2 (2026): JDEP (Jurnal Dinamika Ekonomi Pembangunan)
Publisher : UPN "Veteran" Jawa Timur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33005/jdep.v9i2.1099

Abstract

Pertumbuhan ekonomi merupakan indikator utama dalam menilai keberhasilan pembangunan suatuwilayah. Namun, pertumbuhan ekonomi di Indonesia masih menunjukkan disparitas antar wilayah yangdipengaruhi oleh berbagai faktor struktural. Penelitian ini bertujuan untuk menganalisis pengaruhdesentralisasi fiskal dan ketimpangan wilayah terhadap pertumbuhan ekonomi dengan IndeksPembangunan Manusia (IPM) sebagai variabel mediasi. Penelitian ini menggunakan data panel dari limaprovinsi di Indonesia yaitu DI Yogyakarta, Kalimantan Timur, Sulawesi Selatan, Sumatera Selatan, danPapua selama periode 2015–2024. Metode analisis yang digunakan adalah regresi data panel dan analisisjalur (path analysis). Hasil penelitian menunjukkan bahwa desentralisasi fiskal berpengaruh positifterhadap pertumbuhan ekonomi, sedangkan ketimpangan wilayah berpengaruh negatif. Namun, IPM tidakmampu memediasi hubungan tersebut secara signifikan. Temuan ini menunjukkan bahwa peningkatankapasitas fiskal daerah belum sepenuhnya diikuti oleh peningkatan kualitas pembangunan manusia yangberdampak pada pertumbuhan ekonomi. Oleh karena itu, diperlukan kebijakan yang lebih terintegrasiantara pengelolaan fiskal dan pembangunan sumber daya manusia.
Pengaruh Inflasi, PDRB dan Upah Minimum terhadap Penyerapan Tenaga Kerja di Provinsi Sulawesi Selatan Ana Ramadhani. A; Basri Bado; Sri Astuty; Muhammad Syafri; Irwandi
Jurnal Ragam Pengabdian Vol. 3 No. 1 (Spesial Issue) (2026): "Dharma Samudera"
Publisher : Lembaga Teewan Journal Solutions

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62710/nd1b9696

Abstract

This study aims to analyze the effect of inflation, Gross Regional Domestic Product, and minimum wage on labor absorption in South Sulawesi Province. Labor absorption is used as the dependent variable and is measured by the number of employed people, while inflation, Gross Regional Domestic Product, and minimum wage are used as independent variables measured by the annual inflation rate, constant price regional output, and the applicable minimum wage in each region. The population of this study consists of secondary data related to these variables in Makassar City, Palopo City, Bone Regency, and Parepare City during the 2015–2024 period. The data were obtained from official publications of Statistics Indonesia and the Department of Manpower of South Sulawesi Province. The sample was selected purposively because these regions represent major economic centers in the provincial economic system and provide complete and consistent data. Panel data regression analysis was employed to examine the relationship between variables. The results show that inflation does not have a significant partial effect on labor absorption, while Gross Regional Domestic Product and minimum wage have a positive and significant effect. Simultaneously, the three variables significantly influence labor absorption, indicating that regional economic growth and wage policies play an important role in increasing employment opportunities in South Sulawesi Province.
Crypto Fundamental Analysis: Comparison of Cryptos with the Largest Market Capitalizations Kareena Hilwa; Sri Astuty; Diah Retno Dwi Hastuti; Muhammad Syafri; Regina Regina
International Journal of Economics, Commerce, and Management Vol. 3 No. 1 (2026): International Journal of Economics, Commerce, and Management
Publisher : Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62951/ijecm.v3i1.1097

Abstract

Cryptocurrency has become a rapidly developing digital asset class that attracts widespread investor interest due to its decentralized, anonymous, and highly volatile nature. Such volatility creates uncertainty in market movements, making it important to understand the factors that drive fluctuations in returns. This research aims to examine how fundamental indicators namely price, trading volume, and market capitalization affect return volatility, as well as to determine which cryptocurrency demonstrates the highest market efficiency based on risk assessment. The study uses panel data covering the five largest cryptocurrencies by market capitalization (Bitcoin, Ethereum, Tether, USD Coin, and Binance Coin) over the period 2019–2023. The analytical methods applied include panel data regression to identify the determinants of volatility and Value at Risk (VaR) to measure asset risk and efficiency. The findings show that price and trading volume positively and significantly increase return volatility, whereas market capitalization exerts a negative and significant effect, indicating its stabilizing role. Based on VaR analysis, Binance Coin (BNB) emerges as the asset with the highest market efficiency. The study concludes that fundamental indicators play a crucial role in shaping volatility and that BNB offers relatively better risk performance compared to its peers.