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All Journal Journal of Law and Border Protection Income: Innovation Of Economics And Management
Qolby, Ajeep Akbar
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Humanities Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : Income: Innovation Of Economics And Management

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Hexahelix Strategy to Reduce ICOR by Enhancing Investment, Bureaucracy, and Eradicating Corruption Qolby, Ajeep Akbar; Syahrin, M. Alvi; Aji, Koesmoyo Ponco
INCOME: Innovation of Economics and Management Vol. 5 No. 1 (2025): June
Publisher : LPPM Universitas KH. A. Wahab Hasbullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32764/income.v5i1.5787

Abstract

The problem of low investment efficiency in Indonesia as reflected by the high Incremental Capital Output Ratio (ICOR) value. The condition is exacerbated by corrupt practices, inefficient bureaucracy, declining labor productivity, and inadequate immigration governance, which overall hamper economic growth. Through historical analysis and empirical data, this essay identifies the important role of various elements government, industry sector, society, academia, mass media, and the legal and regulatory system in creating a conducive investment climate. As a strategic solution, the author proposes the HEXAHELIX collaborative model, which is a development of the Triple and Quadruple Helix concepts, to improve investment quality, reduce corrupt practices, reform immigration policies, and optimize capital utilization. This model emphasizes the need for synergy between various stakeholders to realize bureaucratic and immigration reform, transparency in investment management, and equitable development between regions. Thus, the implementation of the HEXAHELIX collaborative strategy is expected to reduce the ICOR rate, increase productivity, and encourage inclusive and sustainable economic growth, while realizing political stability and community welfare.
Co-Authors Aji, Koesmoyo Ponco Karunia, Ferdyan Samuel M. Alvi Syahrin, M. Alvi Manalu, Abellya Pratama, Andre Milen Subiyanto, Francisco David