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DETERMINANTS OF ECONOMIC GROWTH IN THE OIC COUNTRIES: A GMM MODEL Lusiana, Dewi; Wau, Taosige; Wibowo, Muhammad Ghafur; Choiri, Miftakhul; Salic, Jawad Z.
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 2 (2025): JULY - DECEMBER 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i2.74940

Abstract

Development issues are central to countries across the world, regardless of whether they are classified as developed or developing. The success or failure of development efforts is often reflected in the level of a nation’s economic growth, as this indicator serves as a key benchmark for assessing overall economic progress. Therefore, this study aims to have investigated how foreign direct investment (FDI), human capital, trade openness, and corruption influence the economic growth of OIC countries over the period 2012–2023. The analysis employs a dynamic panel framework using the Generalized Method of Moments (GMM). This study found that FDI has a negative and substantial influence on economic growth, that reveals the existence of obstacles to the utilization of foreign investment in the OIC region. In contrast, human capital and trade openness exert to have a favorable and substantial impact on economic growth, whereas corruption reveals to have a negative and substantial influence. The primary contribution of this research lies to having integrated corruption as a key determinant, an aspect that has received to have relatively limited attention in earlier studies on economic growth. Therefore, the policy implications of these outcomes emphasize the importance of implementing structural reforms to improve to have anti-corruption governance and create to have a trade and political environment that supports to have the acceleration of sustainable economic growth in OIC countries.
HOW ECONOMIC DYNAMICS INFLUENCE POVERTY: THE MODERATING POWER OF THE HUMAN DEVELOPMENT INDEX Zahirah, Qonitah Rifda; Wibowo, Muhammad Ghafur; Musthofa, Muhammad Wakhid; Julina, Julina
Jurnal Al-Iqtishad Vol 21, No 1 (2025): June 2025
Publisher : Economic and Science Faculty of Islamic State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24014/jiq.v21i1.38035

Abstract

This study explores how economic dynamics shape poverty levels in Indonesia, with a particular focus on the moderating influence of the Human Development Index (HDI). Utilizing a quantitative approach, data were gathered from 34 provinces across Indonesia over the period 2020–2024. Key variables examined include the open unemployment rate, Gross Regional Domestic Product (GRDP), population size, and regional minimum wage, while HDI functions as a moderating factor. The analysis employed multiple linear regression via the Generalized Least Square (GLS) method, followed by Moderated Regression Analysis (MRA) using EViews 12 software. By integrating panel data techniques and interaction effect assessments, the study reveals that both unemployment and population size significantly and negatively impact poverty reduction. In contrast, GRDP shows no statistically significant direct effect. The regional minimum wage demonstrates a significant influence, though its direction varies based on model specifications. Notably, HDI emerges as a powerful factor that not only significantly reduces poverty but also amplifies the negative impact of population size on poverty levels. However, its moderating role on other economic variables remains statistically insignificant. These insights underscore the intricate nature of poverty in Indonesia and emphasize the critical need for inclusive, human-centered development policies to drive meaningful and sustainable poverty alleviation.
KETERKAITAN PERTUMBUHAN EKONOMI, JUMLAH PENDUDUK MISKIN, PENDIDIKAN DAN KESEHATAN: STUDI EMPIRIS JAWA TIMUR Mardiyatillah, Sakinah; Wibowo, Muhammad Ghafur
Jurnal Ilmiah Ekonomi Bisnis Vol. 30 No. 2 (2025)
Publisher : Universitas Gunadarma

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

Abstract

Hubungan antara pertumbuhan ekonomi, jumlah penduduk miskin, pendidikan dan kesehatan menjadi indikator penting untuk menganalisis pembangun ekonomi dalam suatu bangsa. Apakah jumlah penduduk miskin, pendidikan dan kesehatan berpengaruh terhadap pertumbuhan ekonomi. Peneliti bertujuan untuk mengetahui tolak ukur dan mendiskripsikan hubungan variabel bebas jumlah penduduk miskin yang diproksikan Tingkat Lama Sekolah (TPM), pendidikan yang diproksikan Lama Harapan Sekolah (LHS), kesehatan yang diproksikan Angka Harapan Hidup (AHH) terhadap pertumbuhan ekonomi (PDRB Per Kapital). Populasi yang dimasukkan dalam penelitian kota/kab provinsi di Jawa Timur. Sampel yang digunakan 38 kota/kab dan 304 data. Model analisis data yang digunakan yaitu regresi data panel dan diperoleh hasil model yang paling sesuai dengan penelitian adalah Fixed Effect Model (FEM). Penelitian menunjukkan hasil TPM tidak berpengaruh signifikan terhadap pertumbuhan ekonomi, LHS serta AHH berpengaruh signifikan terhadap pertumbuhan ekonomi. Sedangkan, hasil uji F disimpulkan terdapat pengaruh secara simulthan variabel pertumbuhan ekonomi terhadap variabel terikat yaitu TPM, LHS dan AHH.
Rethinking Sustainable Development Drivers in D-8 Countries: Markets, Global Integration, and Political Constraints Amirullah, Malik Abd. Karim; Kamaluddin, Kamaluddin; Wibowo, Muhammad Ghafur; Ihsan, Akmal; Ghannili, Farawi
Jurnal Riset Ilmu Ekonomi Vol. 5 No. 3 (2025): Jurnal Riset Ilmu Ekonomi (JRIE) Edisi Desember 2025
Publisher : Universitas Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23969/jrie.v5i3.374

Abstract

Sustainable development in D-8 countries remains limited by structural economic disparities and shifting political conditions. Using dynamic panel data from 2010–2019 with a GMM approach, this study evaluates how foreign direct investment, industrialization, de jure globalization, digitalization, economic growth, corruption control, and domestic credit shape SDG performance, with political constraints as a moderator. The results show that foreign investment, industrialization, globalization, and digitalization enhance SDGs, while domestic credit hinders them. Political constraints reduce the impact of foreign investment yet strengthen the role of economic growth. The findings underscore the need for political stability and disciplined credit management to support progress.
HOW ECONOMIC DYNAMICS INFLUENCE POVERTY: THE MODERATING POWER OF THE HUMAN DEVELOPMENT INDEX Zahirah, Qonitah Rifda; Wibowo, Muhammad Ghafur; Musthofa, Muhammad Wakhid; Julina, Julina
Jurnal Al-Iqtishad Vol 21, No 1 (2025): June 2025
Publisher : Economic and Science Faculty of Islamic State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24014/jiq.v21i1.37570

Abstract

This study explores how economic dynamics shape poverty levels in Indonesia, with a particular focus on the moderating influence of the Human Development Index (HDI). Utilizing a quantitative approach, data were gathered from 34 provinces across Indonesia over the period 2020–2024. Key variables examined include the open unemployment rate, Gross Regional Domestic Product (GRDP), population size, and regional minimum wage, while HDI functions as a moderating factor. The analysis employed multiple linear regression via the Generalized Least Square (GLS) method, followed by Moderated Regression Analysis (MRA) using EViews 12 software. By integrating panel data techniques and interaction effect assessments, the study reveals that both unemployment and population size significantly and negatively impact poverty reduction. In contrast, GRDP shows no statistically significant direct effect. The regional minimum wage demonstrates a significant influence, though its direction varies based on model specifications. Notably, HDI emerges as a powerful factor that not only significantly reduces poverty but also amplifies the negative impact of population size on poverty levels. However, its moderating role on other economic variables remains statistically insignificant. These insights underscore the intricate nature of poverty in Indonesia and emphasize the critical need for inclusive, human-centered development policies to drive meaningful and sustainable poverty alleviation.
Faktor-Faktor Penentu Indeks Pembangunan Manusia Pada Negara Asean Periode 2012-2019: Determinants Of The Human Development Index In Asean Countries For The Period 2012-2019 Alatas, Abdullah; Amarudin, Luluk; Wibowo, Muhammad Ghafur
Citizen : Jurnal Ilmiah Multidisiplin Indonesia Vol. 5 No. 6 (2025): CITIZEN: Jurnal Ilmiah Multidisiplin Indonesia
Publisher : DAS Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53866/jimi.v5i6.1057

Abstract

The main purpose of economic development is to improve the well-being of the people, one of the indicators that reflects economic development is human development. The Human Development Index (HDI) of a region is influenced by various factors. This study aims to understand the factors that affect the Human Development Index in 6 ASEAN Countries. This research method is a quantitative approach with a panel data regression model and model estimation using the Fixed Effect Model (FEM) approach. The results of the study show that independent variables consisting of Gross Domestic Product (GDP), Population, and Government Expenditure in Education and Health have a simultaneous effect on the Human Development Index. As for partially, there are only two independent variables that have a significant positive effect, namely the Number of Population and Government Expenditure in the Field of Education, with values of 0.0002 and 0.0150, respectively, which are smaller than 5%. Meanwhile, the variables Gross National Income and Government Expenditure in the Health Sector had no effect with values of 0.9182 and 0.5596, respectively, which were greater than 5%.