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All Journal Jurnal Ekonomi, Bisnis dan Kewirausahaan (JEBIK) Journal of Economics, Business, & Accountancy Ventura Jurnal Ekonomi & Studi Pembangunan MODUS-Jurnal Ekonomi dan Bisnis IJBE (Integrated Journal of Business and Economics) EKO-REGIONAL JURNAL PENGEMBANGAN EKONOMI WILAYAH Ekuilibrium : Jurnal Ilmiah Bidang Ilmu Ekonomi BALANCE: Economic, Business, Management and Accounting Journal Jurnal EK dan BI Cendekia Niaga Journal of Islamic Economics and Philanthropy Journal of Economics Research and Social Sciences Income: Innovation Of Economics And Management International Journal of Applied Business and International Management Journal of Management Studies and Development Madani: Multidisciplinary Scientific Journal Ahsana: Jurnal Penelitian dan Pengabdian kepada Masyarakat Socius: Social Sciences Research Journal Journal of Advances in Accounting, Economics, and Management Journal of Business Economics and Agribusiness Journal of Regional Economics and Development Media Riset Ekonomi Pembangunan (MedREP) Eko-Regional: Jurnal Pembangunan Ekonomi Wilayah Eko-Regional: Jurnal Pembangunan Ekonomi Wilayah
Mahrus Lutfi Adi Kurniawan, Mahrus Lutfi Adi
Institute of Public Policy and Economic Studies
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Energy Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Medicine & Pharmacology Physics Public Health Social Sciences Other

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CARBON EMISSIONS, ECONOMIC GROWTH, AND RENEWABLE ENERGY IN INDONESIA: AN AUTOREGRESSIVE DISTRIBUTED LAG MODEL Perwithosuci, Winny; Kurniawan, Mahrus Lutfi Adi; Kuncoro, Trian Gigih
Jurnal Ekonomi dan Bisnis (EK dan BI) Vol 7 No 2 (2024)
Publisher : Politeknik Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37600/ekbi.v7i2.1743

Abstract

This research aims to analyze the effect of economic growth, foreign direct investment (FDI), oil consumption, and hydroelectricity generation on emission in Indonesia from 1986-2022. The data are generated from World Bank and British Petroleum. This study employs Autoregressive Distributed Lag (ARDL) to estimate the secondary data. Carbon dioxide emissions (CO2) is treated as dependent variable, while economic growth, FDI inflows, oil consumption, and hydroelectricity generation are treated as independent variables. The results revealed that economic growth positively affect CO2 in the short run. Foreign Direct Investment (FDI) affect CO2 negatively but not significant on CO2. The result implies that the Pollution Halo is exist. Oil consumption affect CO2 positively significant both in short and long run. Furthermore, hydroelectricity generation as renewable energy affects CO2 negatively in the short run and positively in the long run but not significant. The result suggests to the stakeholders to enhance the innovation of the renewable energy to decline the CO2 emssions. Further, this study surely provides a new model in estimating the determinant of CO2 emissions as a proxy of environmental degradation especially in Indonesia.
The Effect of Interest Rate and Export on Foreign Exchange Reserves in Indonesia Puspita, Velda; Kurniawan, Mahrus Lutfi Adi
INCOME: Innovation of Economics and Management Vol. 4 No. 2 (2024): October
Publisher : LPPM Universitas KH. A. Wahab Hasbullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32764/income.v4i2.5191

Abstract

Good management of foreign exchange reserves during a crisis has the effect of improving the performance of the domestic economy and adding to the welfare gains from optimal management of foreign exchange reserves is reducing the welfare costs of liquidity shocks. Research on exchange reserves should be developed, because it shows the economic power of a country to do more international transactions and face an economic crisis. Foreign exchange reserves were developed using macroeconomic variables such as foreign interest rates, bi rate, exports, and foreign loans with an ordinary least square (OLS) approach. The results of the analysis show that foreign interest rates, exports and foreign loans have a positive influence on foreign exchange reserves, while the domestic interest rate variable has a negative influence on foreign exchange reserves. The government needs to implement policies that are appropriate and appropriate to the situation in order to minimize the reduction in foreign exchange reserves.
Islamic Banks and Monetary Variables in Indonesia Sari, Rahma; Subagya, Denysa Cristiana; Laela, Khusnul; Ridani, Fara; Kurniawan, Mahrus Lutfi Adi
Journal of Islamic Economics and Philanthropy Vol. 7 No. 2 (2024): November
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/jiep.v7i2.12563

Abstract

The pattern of sharia banking which is different from conventional banks can be seen during the crisis, where sharia banking is procyclical during the crisis and countercyclical during the expansion period, this shows that sharia banking prevents a worse crisis from occurring. This pattern must be balanced with caution in implementing monetary policy, because monetary policy is very closely related to the financial sector, including the sharia financial sector. This research aims to analyze monetary variables on sharia banking financing. Monetary variables used include the BI rate, money supply, exchange rate, production index as a proxy for GDP and inflation. The research use time-series data and the OLS method. The research result show that monetary variables have a significant effect on sharia banking financing. This research implication is that the monetary policy implemented focuses on price stability and the domestic economy to support the growth of sharia banking financing.
Analisis Struktural Perdagangan di Indonesia: Pendekatan Bayesian VAR Fadlilah, Annastia Abqiatul; Kurniawan, Mahrus Lutfi Adi
Cendekia Niaga Vol. 8 No. 1 (2024): Cendekia Niaga Volume 8 Nomor 1 Tahun 2024
Publisher : Pusat Pengembangan Kompetensi Aparatur Perdagangan

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

Abstract

This research aims to determine the response of central government expenditure, government debt, government capital expenditure, population growth to international trade. The dependent variable in this research is the international trade variable and the independent variables include government debt, central government spending, government capital spending and population growth. The data in this research includes time series data in the form of percentages from 1971-2020 which were analyzed using the VAR (Vector Autoregressive) method. The results of this research are that all variables have a significant and positive response to international trade shocks. Based on the variance decomposition test, all variables contribute to international trade and have an increasing contribution until the final period. This is shown by the S.E value in period one of 12,242 and increasing in period ten of 27,282. Then the state debt variable has a high contribution to international trade and is continued with the government spending, capital learning and population growth variables.
Analisis Variabel Makroekonomi terhadap Indeks Saham Kompas 100: Pendekatan VECM Andani, Gina; Kurniawan, Mahrus Lutfi Adi
Journal of Advances in Accounting, Economics, and Management Vol. 1 No. 3 (2024): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/aaem.v1i3.216

Abstract

This study aims to determine the effect of world gold prices, interest rates, inflation, exchange rates, and the LQ45 Index on the stock price of the Kompas 100 index. This research was conducted using research data in 2015-2020 and analyzed using the Vector Error Correction Model approach. From the VECM estimation results, it is found that world gold prices, interest rates, inflation, exchange rates, and the LQ45 index affect the Kompas 100 index stock price in the long term. Meanwhile, in the short term, world gold prices, interest rates, inflation, exchange rates, and the LQ45 index have no effect on the stock price of the Kompas 100 index.
Analisis Utang Luar Negeri Indonesia: Pendekatan VECM Agustina, Fitri; Kurniawan, Mahrus Lutfi Adi
Journal of Business Economics and Agribusiness Vol. 1 No. 1 (2023): November
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jbea.v1i1.36

Abstract

Abstrak: Utang luar negeri yaitu salah satu instrumen yang penting bagi negara berkembang. Faktor yang berpengaruh terhadap utang luar negeri di Indonesia adalah tingkat ekspor, tingkat impor, tingkat inflasi, dan nilai kurs. Untuk meningkatkan pendapatan nasional pada negara berkembang, banyak negara berkembang yang mengandalkan utang luar negeri sebagai modal pembangunan. Hal inilah yang tentunya akan berdampak jangka panjang terhadap neraca pembayaran negara berkembang. Tujuan dari penelitian ini adalah untuk mengetahui hubungan keterikatan antara utang luar negeri Indonesia dengan tingkat ekspor, tingkat impor, tingkat inflasi, dan nilai kurs. Penelitian ini menggunakan Vector Error Correction Model (VECM) sebagai model estimasi dengan periode penelitian tahun 1984 sampai tahun 2021. Hasil penelitian menunjukkan bahwa variabel ekspor, impor, inflasi, dan kurs tidak berhubungan dengan utang luar negeri pada waktu dekat. Dalam jangka panjang, ekspor dan inflasi jelas berhubungan positif dengan utang luar negeri. Variabel ekspor memiliki efek positif pada ULN sebesar 6.43126. Variabel inflasi berpengaruh positif pada ULN sebesar 8.55321. Pada saat yang sama, impor dan kurs terkait negatif dengan ULN pada jangka panjang. Variabel impor berpengaruh negatif terhadap ULN -5.15708. Variabel kurs berpengaruh negatif terhadap ULN yaitu sebesar -6.50289. Variabel ekspor dan inflasi berpengaruh terhadap utang luar negeri dalam jangka pendek, sedangkan variabel impor dan kurs tidak berpengaruh terhadap utang luar negeri dalam jangka pendek. Dan variabel impor dan ekspor mempengaruhi utang luar negeri dalam jangka panjang. Abstract: Foreign debt is an important instrument for developing countries. Factors that influence foreign debt in Indonesia are the level of exports, the level of imports, the level of inflation and the exchange rate. To increase national income in developing countries, many developing countries rely on foreign debt as development capital. This will certainly have a long-term impact on the balance of payments of developing countries. The aim of this research is to determine the relationship between Indonesia's foreign debt and the level of exports, the level of imports, the level of inflation and the exchange rate. This research uses the Vector Error Correction Model (VECM) as an estimation model for the research period from 1984 to 2021. The research results show that the variables exports, imports, inflation and exchange rates are not related to foreign debt in the near future. In the long run, exports and inflation are clearly positively related to foreign debt. The export variable has a positive effect on external debt of 6.43126. The inflation variable has a positive effect on external debt of 8.55321. At the same time, imports and exchange rates are negatively related to external debt in the long run. The import variable has a negative effect on external debt -5.15708. The exchange rate variable has a negative effect on external debt, namely -6.50289. The export and inflation variables have an effect on foreign debt in the short term, while the import and exchange rate variables have no effect on foreign debt in the short term. And import and export variables influence foreign debt in the long term.
Determinan tingkat pengangguran terbuka di DKI Jakarta: Analisis Data Panel Novitasari, Farida; Kurniawan, Mahrus Lutfi Adi
Journal of Regional Economics and Development Vol. 1 No. 1 (2023): November
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jred.v1i1.37

Abstract

Abstrak: Tujuan dilakukannya penelitian ini adalah untuk mengetahui faktor yang mempengaruhi tingkat pengangguran terbuka pada 6 kabupaten dan 1 kota provinsi di DKI Jakarta. Data yang digunakan adalah data panel atau gabungan dari data time series dan cross section pada tahun 2014-2021 dengan 6 kabupaten dan 1 kota DKI Jakarta yang meliputi wilayah Kepulauan Seribu, Jakarta Utara, Jakarta Timur, Jakarta Selatan, Jakarta Pusat, dan Jakarta Barat. Adapun analisis yang digunakan adalah metode regresi data panel Fixed Effect Model (FEM) melalui pendekatan dummy variabel. Hasil penelitian menggunakan tingkat signifikansi 10% dengan menunjukkan bahwa hasil uji Fixed Effect Model pada variabel pertumbuhan ekonomi dan upah minimum provinsi berpengaruh negatif dan signifikan terhadap tingkat pengangguran terbuka di 6 kabupaten dan 1 kota provinsi DKI Jakarta, sedangkan indeks pembangunan manusia dan tingkat partisipasi angkatan kerja berpengaruh negatif dan tidak signifikan terhadap tingkat pengangguran terbuka di 6 kabupaten dan 1 kota provinsi DKI Jakarta. Abstract: The aim of this research is to determine the factors that influence the open unemployment rate in 6 districts and 1 provincial city in DKI Jakarta. The data used is panel data or a combination of time series and cross section data for 2014-2021 with 6 districts and 1 city of DKI Jakarta covering the Thousand Islands, North Jakarta, East Jakarta, South Jakarta, Central Jakarta and Jakarta areas. West. The analysis used is the Fixed Effect Model (FEM) panel data regression method using a dummy variable approach. The research results use a significance level of 10%, showing that the results of the Fixed Effect Model test on the variables of economic growth and provincial minimum wages have a negative and significant effect on the open unemployment rate in 6 districts and 1 city of DKI Jakarta province, while the human development index and labor force participation rate negative and insignificant effect on the open unemployment rate in 6 districts and 1 city of DKI Jakarta province.
The Role of Credit for Poverty Alleviation in Indonesia: Evidence from Panel Data Analysis Ilyasa, Wahyu Nur; Kurniawan, Mahrus Lutfi Adi; Lubis, Firsty Ramadhona Amalia; Salim, Agus
Integrated Journal of Business and Economics (IJBE) Vol 9, No 2 (2025): Integrated Journal of Business and Economics
Publisher : Universitas Bangka Belitung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33019/ijbe.v9i2.1101

Abstract

The challenge of zero poverty by 2030 is difficult to achieve amidst global uncertainty which has an impact on the domestic economy through a decrease in social budgets and a decrease in purchasing power which makes the domestic economy move slowly. The Asian Development Bank (ADB) has discussed the role of banking in alleviating poverty both directly and indirectly through industrialization, MSMEs and increasing productivity which has a multiplier effect on increasing employment and reducing poverty. Challenges regarding the link between the bank and non-bank financial industry to poverty alleviation are becoming increasingly high due to increasing global uncertainty in the last decade which has had an impact on the domestic economy. This research aims to analyze the influence of banking credit (in this study using MSME credit) and People's Business Credit (KUR) as government representatives in helping business actors to improve their businesses by accessing credit with low interest on poverty alleviation in Indonesia. The research combines time series data in this study, namely the 2017-2022 period and cross section data collected from 34 provinces in Indonesia using the Panel Feasible Generalized Squared (FGLS) approach. The research results show a contradiction between people's business credit and credit to MSMEs, where people's business credit cannot alleviate poverty while credit to MSMEs is effective in reducing poverty rates. The research implication is that financial sector development can be oriented towards alleviating poverty by implementing policies that support financial system stability.
Sustaining innovation: How financial investment shapes patent creation in leading economies? Gatari, Altis Puspa; Lubis, Firsty Ramadhona Amalia; Khoirudin, Rifki; Az Zakiyyah, Nurul Azizah; Kurniawan, Mahrus Lutfi Adi; Salim, Agus
Jurnal Ekonomi & Studi Pembangunan Vol. 25 No. 2: October 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v25i2.26366

Abstract

This study aims to analyze the role of liquidity in promoting patent-based innovation in the 10 countries with the highest innovation rates during the period 2012-2021. Using secondary data from the World Development Indicators (WDI), World Intellectual Property Organization (WIPO), and World Integrated Trade Solution (WITS), this study applies panel data regression method with Seemingly Unrelated Regression (SUR) approach to identify the influence of economic variables on the number of patents. The independent variables analyzed include equity x high technology, credit x high technology, industrial value added, exports, and liquidity. The results show that high-tech-based equity and credit have a significant influence on increasing the number of patents, while exports and liquidity do not show a meaningful influence. Value-added was also shown to have a significant contribution to innovation. These findings indicate that funding stability and long-term investment in research and development (R&D) determine innovation success more than the level of liquidity of the firm. Therefore, government policies and funding strategies should focus on improving access to high-tech-based financing as well as incentivizing R&D activities to foster a sustainable innovation ecosystem.
Strategy And Optimization of the Role of Productive Waqf in People’s Economic Empowerment Gatari, Altis Puspa; Zuhairoh, Saffaanah; Darokah, Husna Enggar Dani; Putra, Budi Jaya; Lubis, Ramadhona Amalia; Kurniawan, Mahrus Lutfi Adi
Journal of Islamic Economics and Philanthropy Vol. 7 No. 3 (2025): February
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/jiep.v7i3.12784

Abstract

Waqf is an Islamic economic instrument that has great potential in supporting social and economic development. However, in Indonesia, waqf management is still not optimal, with most waqf assets not being utilized productively. This article analyzes the strategy and optimization of productive waqf in community economic empowerment, highlighting the challenges faced and innovative solutions that can be applied. The research method used is a literature study with a qualitative approach. The results show that effective strategies to maximize productive waqf include strengthening regulations, increasing the capacity of nadzir, integration with Islamic financial institutions, and implementing waqf-based business models. Case studies from various countries show that well-managed waqf can have a significant economic impact, including in the education, health and micro-enterprise sectors. This study concludes that with the implementation of appropriate strategies, productive waqf can be an important instrument in economic empowerment and improving the welfare of the community, as well as supporting sustainable economic development.
Co-Authors A'yun, Indanazulfa Qurrota A.A. Ketut Agung Cahyawan W Agus Salim Agus Salim Ahmad Rizal Solihudin Aminarta, Afla Afifa Andani, Gina Apriliana, Dwi Arfida Boedirochminarni Ariani, Khairina Putri Athfal , Azkal Azkiya Athfal, Azkal Azkiya Az zakiyyah, Nurul Azizah Basia, Lusmino Cholida, Maya Nur Christianingtyas, Rachel Daffa Danica Darokah, Husna Enggar Dani Dinul, Achmad Amirul Fachry Abda El Rahman Fadlilah, Annastia Abqiatul Fitri Agustina Flejterski, Stanislaw Gatari, Altis Puspa Hery Widijanto Ilyasa, Wahyu Nur Istanti Istanti, Istanti Khan, Zafar Khasanah, Dindha Uswatun Khoirudin, Rifki Laela, Khusnul Lestari Sukarniati, Lestari Lestari, Yova Tri Lubis, Firsty Ramadhona Amalia Lubis, Ramadhona Amalia Muhammad Firmansyah Nano Prawoto Novayadi, Nurmalinda Novitasari, Farida Nurachmat, Rahadian Perwithosuci, Winny Puspita, Velda Putra, Budi Jaya Rahma Sari, Rahma Ridani, Fara Santoso, Alfin Sari, Danik Kurnia Sari, Diah Puspita Sari, Rosita Purnama Sembiring, Rinawati Sri Budi Cantika Yuli Subagya, Denysa Cristiana Suripto Suripto Suripto Trian Gigih Kuncoro Trianto, Cahyo Zuhairoh, Saffaanah