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Macroeconomic Determinants of Indonesian Economic Growth: Error Correction Model approach for the 1986-2022 period Wahyuni, Hesti Asri; Santosa, Purbayu Budi
MediaTrend Vol 19, No 2 (2024): OKTOBER
Publisher : Trunojoyo University of Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/mediatrend.v19i2.27305

This study analyzes the impact of exports, inflation, investment, and exchange rates on Indonesia's Gross Domestic Product (GDP) from 1986 to 2022 using the Error Correction Model (ECM). This method examines both long-term and short-term effects. The results show that exports have a positive but insignificant impact on long-term economic growth, while in the short term, the impact is negative and insignificant. Inflation has a significantly negative effect on economic growth in both the short and long terms. Investment has a positive and significant effect on growth in both periods. Exchange rates have a significant negative effect on long-term economic growth, while in the short term, they have a significant negative impact at the 10% significance level. The contribution of this study lies in expanding the understanding of Indonesia's macroeconomic dynamics through a comprehensive analysis over a 36-year period. It provides valuable insights for economic policymakers, recommending stabilizing inflation, increasing investment, and maintaining exchange rate stability. The empirical findings of this study are expected to help formulate more effective economic policies to promote growth in Indonesia. A limitation of this research is the lack of variables addressing external factors, including global fiscal and monetary policies.

Pendampingan Pendataan Santri Berbasis Komputerisasi Di Pondok Pesantren Darul Ilmi Destiartono, Mohamad Egi; Darwanto; Kafabih, An’im; Santosa, Purbayu Budi; Maria, Nugroho Nugroho Sumarjiyanto Benedictus
Beujroh : Jurnal Pemberdayaan dan Pengabdian pada Masyarakat Vol. 2 No. 3 (2024): Beujroh : Jurnal Pemberdayaan dan Pengabdian pada Masyarakat
Publisher : Yayasan Sagita Akademia Maju

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61579/beujroh.v2i3.236

Data play an important role in mapping problems, potentials, and long-term plans of an institution, including Islamic boarding schools. This Community Service (PKM) activity aims to socialize the importance of computer-based data management through the use of Microsoft Excel, Google Forms, and Bitly. This community service activity was carried out at the Darul Ilmi Islamic boarding school, Meteseh Village, Semarang. Community service was conducted through three approaches: (i) field observation, (ii) interactive socialization, and (iii) mentoring/training. Field observations were applied to collect problems that existed at the location and potential that could be developed. Socialization was carried out by providing material on "the importance of computer-based data management" to increase the efficiency and effectiveness of the use of student data. Interactive socialization was employed directly to provide space for all participants to express their opinions. The results of this PKM were three things: (i) mentoring the use of M.S. Excel for data management; (ii) training in the use of Google Forms to collect student data according to certain objectives, for example, biodata and future career plans; and (iii) educating the application of Bit.ly as a device to shorten and manage URLs.

The Nexus Between Islamic Human Development Index (I-HDI), Islamic Social Finance, Governance, and Poverty: A Case Study in ASEAN Utami, Fadia; Santosa, Purbayu Budi
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 16, No 1 (2024)
Publisher : Faculty of Sharia and Law, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v16i1.36710

Faktor kemiskinan bersifat multidimensi. Meskipun negara-negara ASEAN merupakan negara ekonomi Islam global terbaik, instrumen syariah belum dimanfaatkan dengan baik untuk mengatasinya. Oleh karena itu, penelitian ini bertujuan untuk menggabungkan instrumen sosial ekonomi syariah dan konvensional dengan menganalisis hubungan antara Indeks Pembangunan Manusia Islam (I-HDI), keuangan sosial Islam, dan enam indikator tata kelola terhadap kemiskinan. Data sebanyak 540 panel dari tahun 2007 hingga 2021 diambil dengan metode purposive sampling dan diuji dengan Fixed Effect Model. Penelitian ini menunjukkan bahwa I-HDI, filantropi Islam, akuntabilitas suara, dan pengendalian korupsi berpengaruh signifikan terhadap penanggulangan kemiskinan. Penelitian ini mengimplikasikan pemerintah di ASEAN untuk menggunakan I-HDI sebagai tolok ukur pembangunan manusia, memaksimalkan filantropi Islam untuk produktivitas, meningkatkan partisipasi publik, dan mengendalikan korupsi untuk kemiskinan anggota. Abstrak:Kemiskinan berasal dari faktor multidimensi. Meskipun negara di ASEAN merupakan negara dengan ekonomi Islam terbesar di dunia, instrumen syariah belum dimanfaatkan dengan baik. Penelitian ini bertujuan untuk menggabungkan instrumen sosial-ekonomi syariah dan konvensional dengan menganalisis hubungan antara Indeks Pembangunan Manusia Islam (I-HDI), keuangan sosial Islam, dan 6 indikator tata kelola pemerintahan terhadap kemiskinan. Data yang digunakan merupakan 540 data panel dari tahun 2007-2021 melalui metode purposive sampling dan diuji dengan Fixed Effect Model. Penelitian ini menunjukkan bahwa I-HDI, filantropi Islam, suara akuntabilitas, dan pengendalian korupsi berpengaruh signifikan terhadap pengurangan kemiskinan. Studi ini mengisyaratkan pemerintah di ASEAN untuk menggunakan I-HDI sebagai tolok ukur pembangunan manusia, memaksimalkan filantropi Islam untuk produktivitas, meningkatkan partisipasi publik, dan mengendalikan korupsi untuk mengentaskan kemiskinan.

Good Corporate Governance and Sharia Banking Performance Based on Maqasid Al-Sharia in OIC Countries Mulyani, Nisrina Ikhfadhillah; Santosa, Purbayu Budi; Destiartono, Mohamad Egi
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 16, No 2 (2024)
Publisher : Faculty of Sharia and Law, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v16i2.41291

The development of Islamic banking assets in OIC countries requires performance evaluation, but conventional financial ratios are still used. This study aims to explore the relationship between Good Corporate Governance variables (Board of Commissioners, Independent Commissioners, Sharia Supervisory Board, and Audit Committee) and Maqaṣid-based Sharia banking performance. Using the Maqaṣid-Based Performance Evaluation Model (MPEM), data from 22 Islamic banks in 7 OIC countries (2018-2022) with a fixed securities model were analyzed. The findings indicate that the Board of Commissioners and Independent Commissioners influence Maqaṣid-based performance, whereas the Sharia Supervisory Board and Audit Committee do not have a significant impact. The majority of banks have a low Maqaṣid performance index, indicating a reliance on conventional systems despite Sharia compliance. Perkembangan aset perbankan syariah di negara-negara OIC memerlukan evaluasi kinerja, namun rasio keuangan konvensional masih digunakan. Penelitian ini bertujuan untuk mengeksplorasi hubungan antara variabel tata kelola perusahaan yang baik (Dewan Komisaris, Komisaris Independen, Dewan Pengawas Syariah, dan Komite Audit) dengan kinerja perbankan syariah berbasis maqaṣid. Penelitian ini menganalisis data dari 22 bank syariah di 7 negara OIC (2018-2022) dengan model sekuritas, menggunakan Model Evaluasi Kinerja Berbasis Maqaṣid (MPEM). Temuan penelitian ini menunjukkan bahwa Dewan Komisaris dan Komisaris Independen memengaruhi kinerja berbasis maqaṣid, sementara Dewan Pengawas Syariah dan Komite Audit tidak berpengaruh. Mayoritas bank memiliki indeks kinerja maqaṣid yang rendah, yang menunjukkan masih adanya ketergantungan pada sistem konvensional meskipun sudah sesuai dengan prinsip syariah.

Pengaruh Pemilihan Umum Tahun 2019 terhadap Abnormal Return dan Trading Volume Activity di Bursa Efek Indonesia (Studi Perusahaan yang Tercatat dalam Jakarta Islamic Index 70) Amalia, Luthfina Zahrotul; Santosa, Purbayu Budi
Diponegoro Journal of Islamic Economics and Business Vol 2, No 2 (2022): Desember
Publisher : Fakultas Ekonomika dan Bisnis, Universitas Diponegoro, Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djieb.15920

The political events can affect the condition of a capital market because it is related to the national economic stability. One of the events that affects the capital market is the general election. The 2019 general election was the first time that presidential and legislative elections were held at the same time in Indonesia. However, the high public enthusiasm, which reached 81%, was not followed by the increase of IDX Composite (IHSG) throughout April 2019. The IDX Composite fluctuated and tended to decline. This research is an event study that aims to analyze the differences in abnormal return and trading volume activity of stock market between the period before and after the general election held on April 17, 2019.This study uses quantitative methods by using secondary data, published on the Indonesia Stock Exchange website. The population of the data used is the 70 companies listed on Jakarta Islamic Index 70 (JII70), then the sample was taken using the purposive sampling as many as 58 of 70 companies. The event period is 20 days length, 10 days before the election, and 10 days after the election. The analysis uses non-parametcric different’s test Wilcoxon Signed Rank Test. The result showed that there were no significant differences in abnormal return, but there were significant differences in trading volume activity between before and after the general election April 17, 2019.

Sharia People's Trade Market as a Solution to Transform the Halal Business Axis of the Community in Indonesia Hidayat, Muhammad Rizal; Prakoso, Lindhu Dwi; Nugroho, Aditya Febriansyah; Wongsokarto, Misdiarso; Santosa, Purbayu Budi
Al-Sharf: Jurnal Ekonomi Islam Vol 6, No 3 (2025)
Publisher : Yayasan Rahmat Islamiyah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56114/al-sharf.v6i3.12529

This research aims to design and propose a futuristic Islamic Economic idea in Indonesia namely sharia society market. This research was complied using descriptive qualitative method with causal comparative and development manner. This research result demonstrates the design model of sharia society market in terms of concept and application. This idea organizes several dimensional approaches such as sharia, fiqh, economic, and anthropology. The Sharia Society Market has prepared as a revolution in the halal real sector business axis of society in Indonesia.

The Nexus Between Islamic Human Development Index (I-HDI), Islamic Social Finance, Governance, and Poverty: A Case Study in ASEAN Utami, Fadia; Santosa, Purbayu Budi
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 16 No. 1 (2024)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v16i1.36710

Faktor kemiskinan bersifat multidimensi. Meskipun negara-negara ASEAN merupakan negara ekonomi Islam global terbaik, instrumen syariah belum dimanfaatkan dengan baik untuk mengatasinya. Oleh karena itu, penelitian ini bertujuan untuk menggabungkan instrumen sosial ekonomi syariah dan konvensional dengan menganalisis hubungan antara Indeks Pembangunan Manusia Islam (I-HDI), keuangan sosial Islam, dan enam indikator tata kelola terhadap kemiskinan. Data sebanyak 540 panel dari tahun 2007 hingga 2021 diambil dengan metode purposive sampling dan diuji dengan Fixed Effect Model. Penelitian ini menunjukkan bahwa I-HDI, filantropi Islam, akuntabilitas suara, dan pengendalian korupsi berpengaruh signifikan terhadap penanggulangan kemiskinan. Penelitian ini mengimplikasikan pemerintah di ASEAN untuk menggunakan I-HDI sebagai tolok ukur pembangunan manusia, memaksimalkan filantropi Islam untuk produktivitas, meningkatkan partisipasi publik, dan mengendalikan korupsi untuk kemiskinan anggota. Abstrak:Kemiskinan berasal dari faktor multidimensi. Meskipun negara di ASEAN merupakan negara dengan ekonomi Islam terbesar di dunia, instrumen syariah belum dimanfaatkan dengan baik. Penelitian ini bertujuan untuk menggabungkan instrumen sosial-ekonomi syariah dan konvensional dengan menganalisis hubungan antara Indeks Pembangunan Manusia Islam (I-HDI), keuangan sosial Islam, dan 6 indikator tata kelola pemerintahan terhadap kemiskinan. Data yang digunakan merupakan 540 data panel dari tahun 2007-2021 melalui metode purposive sampling dan diuji dengan Fixed Effect Model. Penelitian ini menunjukkan bahwa I-HDI, filantropi Islam, suara akuntabilitas, dan pengendalian korupsi berpengaruh signifikan terhadap pengurangan kemiskinan. Studi ini mengisyaratkan pemerintah di ASEAN untuk menggunakan I-HDI sebagai tolok ukur pembangunan manusia, memaksimalkan filantropi Islam untuk produktivitas, meningkatkan partisipasi publik, dan mengendalikan korupsi untuk mengentaskan kemiskinan.

Good Corporate Governance and Sharia Banking Performance Based on Maqasid Al-Sharia in OIC Countries Mulyani, Nisrina Ikhfadhillah; Santosa, Purbayu Budi; Destiartono, Mohamad Egi
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 16 No. 2 (2024)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v16i2.41291

The development of Islamic banking assets in OIC countries requires performance evaluation, but conventional financial ratios are still used. This study aims to explore the relationship between Good Corporate Governance variables (Board of Commissioners, Independent Commissioners, Sharia Supervisory Board, and Audit Committee) and Maqaṣid-based Sharia banking performance. Using the Maqaṣid-Based Performance Evaluation Model (MPEM), data from 22 Islamic banks in 7 OIC countries (2018-2022) with a fixed securities model were analyzed. The findings indicate that the Board of Commissioners and Independent Commissioners influence Maqaṣid-based performance, whereas the Sharia Supervisory Board and Audit Committee do not have a significant impact. The majority of banks have a low Maqaṣid performance index, indicating a reliance on conventional systems despite Sharia compliance. Perkembangan aset perbankan syariah di negara-negara OIC memerlukan evaluasi kinerja, namun rasio keuangan konvensional masih digunakan. Penelitian ini bertujuan untuk mengeksplorasi hubungan antara variabel tata kelola perusahaan yang baik (Dewan Komisaris, Komisaris Independen, Dewan Pengawas Syariah, dan Komite Audit) dengan kinerja perbankan syariah berbasis maqaṣid. Penelitian ini menganalisis data dari 22 bank syariah di 7 negara OIC (2018-2022) dengan model sekuritas, menggunakan Model Evaluasi Kinerja Berbasis Maqaṣid (MPEM). Temuan penelitian ini menunjukkan bahwa Dewan Komisaris dan Komisaris Independen memengaruhi kinerja berbasis maqaṣid, sementara Dewan Pengawas Syariah dan Komite Audit tidak berpengaruh. Mayoritas bank memiliki indeks kinerja maqaṣid yang rendah, yang menunjukkan masih adanya ketergantungan pada sistem konvensional meskipun sudah sesuai dengan prinsip syariah.

Analysis of Millennial Muslims Preferences on the Crowdfunding Platform Dzulfikar, Muhammad Zacky; Santosa, Purbayu Budi; Gunanto, Eddy Yusuf Agung
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 5 No 1 (2022): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v5i1.1796

The potential for collecting alms funds in Indonesia is very large, the trend of increasing the collection of Zakat Infaq Alms (ZIS) funds until 2019, as well as the increasing trend of collecting donations through digital crowdfunding platforms. In fact, the potential for collecting ZIS is only 4.91% of the existing potential, besides that there are still many donations from crowdfunding platforms that have not yet reached the target, then millennials as the majority generation and close to technology in the digital era 4.0, are faced with the choice of giving traditional or traditional charity. through a crowdfunding platform. The research analyzes the preferences of millennial Muslims in giving charity on the crowdfunding platform. The population in this research, millennial Muslims in Semarang City. The sampling technique of non-probability sampling is purposive sampling, taking this samples from populations that must have certain requirements. Sampling of data was done by distributing questionnaires to 384 millennial Muslim respondents in the city of Semarang. The research method uses binary logistic regression analysis. The results of the research simultaneously show the influence of millennial Muslim decisions to give alms on the crowdfunding platform. Partially there is a positive and significant influence on the motivational variables of religiosity, effort expectancy, sense of trust, social influence, and lifestyle on the decision of millennial Muslims to give alms on the crowdfunding platform. The income variable has no effect on the decision of millennial Muslims to give alms on the crowdfunding platform.

Export Strategy Development in Micro and Small Enterprises of The Craft Sector in Central Java Karsinah Karsinah; Purbayu Budi Santosa; Deden Dinar Iskandar
Economics Development Analysis Journal Vol. 14 No. 3 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i3.29648

This study examines which factors most strongly drive export participation among craft-sector micro and small enterprises (MSEs) in Central Java. Focusing on batik, furniture, and leather products, we highlight a capability-first perspective that has been underexplored in this context. Using a survey of craft MSEs analyzed with logistic regression, we compare the effects of human capital (export knowledge and skills) with commonly cited enablers such as capital and government assistance. The results show that export knowledge and skills consistently predict export participation, whereas financial inputs and generic assistance are not decisive once capabilities are considered. These findings suggest that policies and firm strategies should prioritize practical export know-how, skills development, and market-readiness over undifferentiated financing. The study contributes evidence from Indonesia’s craft sector that human capital is the primary lever for scaling MSEs to international markets. The skills possessed in the Craft sector in Central Java regarding exports have a positive influence on their performance with a coefficient value of 5.76; this indicates that if the skills of MSEs in the Craft sector in Central Java increase by 1%, it will increase MSEs performance by 5.76%.

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