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All Journal Ekonomikalia Journal of Economics Indatu Journal of Management and Accounting
Maulana, Ar Razy Ridha
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Environmental Science Social Sciences Other

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Decrypting the Relationship Between Corruption and Human Development: Evidence from Indonesia Hardi, Irsan; Saputra, Jumadil; Hadiyani, Rahmilia; Maulana, Ar Razy Ridha; Idroes, Ghalieb Mutig
Ekonomikalia Journal of Economics Vol. 1 No. 1 (2023): July 2023
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v1i1.22

Abstract

Corruption is considered endemic in a large part of the world's population and is believed to be a factor that disrupts market behavior and distorts competition, thereby hindering economic growth and human development. This study aims to unveil the impact of corruption on Indonesia's human development through various approaches, utilizing Fully-Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS), Moderated Regression Analysis (MRA), Path Analysis, and Vector Error Correction Model (VECM) methods, with data covering the period from 1995 to 2022. The results of the estimation are discussed in three parts: 1) Dynamic Impact, by analyzing the long-term direct effect of corruption on human development; 2) Indirect Impact, by examining the role of government expenditure, tax revenue, and public debt in mediating the effect of corruption on human development; and 3) Causal Impact, by determining the unidirectional and bidirectional relationships between all variables studied. The findings indicate that corruption does not have a lasting direct impact on human development. Moreover, government expenditure and public debt play a role in moderating the impact of corruption on human development. Additionally, there is no causal link between corruption and human development, whereas there are causal connections between human development, government expenditure, tax revenue, and public debt. The results of this study will be valuable in assessing the extent of corruption's impact on human development, particularly in Indonesia, and aim to raise awareness of policymakers, hence encouraging individuals to participate in combating corruption.
Natural Disasters and Economic Growth in Indonesia Idroes, Ghalieb Mutig; Hardi, Irsan; Nasir, Muhammad; Gunawan, Eddy; Maulidar, Putri; Maulana, Ar Razy Ridha
Ekonomikalia Journal of Economics Vol. 1 No. 1 (2023): July 2023
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v1i1.55

Abstract

Natural disasters can have a profound impact on a country's economic growth, making it crucial for policymakers to understand the relationship between natural disasters and economic growth in order to develop effective strategies that mitigate adverse effects and promote sustainable development. The study utilizes secondary data spanning from 1990 to 2021 and employs the Fully-Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS), Canonical Co-Integrating Regression (CCR), and Vector Error Correction Model (VECM) methods. The study's findings provide valuable insights into the substantial effects of natural disasters on economic growth, indicating a positive long-term impact. Furthermore, the analysis highlights a unidirectional causality, illustrating the notable influence of natural disasters on the country's economic performance. Policymakers should prioritize investments in upgrading and retrofitting infrastructure, focusing on key sectors like transportation, energy, water, and telecommunications, to mitigate the adverse effects of natural disasters and promote sustainable economic growth.
Decomposed Impact of Democracy on Indonesia’s Economic Growth Hardi, Irsan; Ringga, Edi Saputra; Fijay, Ade Habya; Maulana, Ar Razy Ridha; Hadiyani, Rahmilia; Idroes, Ghalieb Mutig
Ekonomikalia Journal of Economics Vol. 1 No. 2 (2023): November 2023
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v1i2.80

Abstract

Indonesia's democratic performance is still classified as a 'moderate' and 'flawed democracy' according to the latest report, even though the ongoing progress of national democracy continues to advance every year. This study addresses the issue by offering a more comprehensive perspective and distinguishes itself by employing a decomposition approach that incorporates 25 indicators of the Indonesian democracy index to assess their individual effects on economic growth, which no prior Indonesian study has explored. The study classifies these indicators into six distinct categories: freedom and civil rights issues, discrimination issues, political and electoral issues, social and cultural issues, law and justice issues, and demonstration and community participation issues. The findings reveal that five out of the six categorized indicators have a crucial role and significantly impact economic growth. This evidence suggests that policymakers should prioritize a multifaceted approach, which includes bolstering the protection of civil rights and freedoms, combating discrimination, as well as reforming electoral and political processes. If implemented with transparency and inclusivity, this approach can pave the way for a more robust and prosperous democracy, leading to better and sustainable economic growth in Indonesia.
Do Business Conditions Drive FDI Inflows? A Decomposition Analysis Using B-READY Indicators Hardi, Irsan; Çoban, Mustafa Necati; Maulana, Ar Razy Ridha; Idroes, Ghalieb Mutig; Mardayanti, Ulfa
Indatu Journal of Management and Accounting Vol. 3 No. 1 (2025): June 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/ijma.v3i1.303

Abstract

Foreign direct investment (FDI) is essential for economic development and business sustainability, and understanding the business conditions that attract it remains a key policy concern. This study adopts a decomposition approach by examining the impact of various B-READY indicators on FDI inflows in separate models, using cross-sectional data from 45 countries. To ensure methodological rigor, it applies three Robust Least Squares (RLS) estimation techniques: M-type, S-type, and MM-type. The findings reveal that six out of ten B-READY indicators exert a positive and statistically significant influence on FDI inflows. The significant B-READY indicators, such as business insolvency, dispute resolution, international trade, labor, market competition, and taxation, highlight critical factors that businesses consider when entering or expanding in foreign markets. These insights offer valuable guidance and practical implications not only for policymakers seeking to strengthen national investment environments, but also for businesses evaluating market readiness and investment risks in foreign economies.
The Impact of Consumer Confidence on Tourism: Evidence from Indonesia Maulana, Ar Razy Ridha; Dharmawan, Hendra
Indatu Journal of Management and Accounting Vol. 3 No. 1 (2025): June 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/ijma.v3i1.315

Abstract

Understanding the drivers of tourism demand is crucial not only for economic policy but also for business strategy in tourism-related industries. This study investigates the impact of consumer confidence on tourism arrivals in Indonesia, with a specific focus on both short-term and long-term effects. Employing the Autoregressive Distributed Lag (ARDL) model, complemented by robustness checks using FMOLS, DOLS, and CCR methods over the period 2008–2023, the empirical findings reveal that the Consumer Confidence Index (CCI) has a strong, positive, and statistically significant effect on the number of tourist visits, particularly in the long term. The results remain consistent across multiple estimation techniques, confirming the robustness and reliability of the evidence. These findings highlight the strategic importance of consumer sentiment as a forward-looking behavioral indicator in tourism demand modeling. For policymakers and business leaders in the tourism sector, the study underscores the value of monitoring public economic sentiment to anticipate demand shifts and inform responsive strategies.
Co-Authors Çoban, Mustafa Necati Dharmawan, Hendra Eddy Gunawan, Eddy Fijay, Ade Habya Hadiyani, Rahmilia Hapzi Ali Hardi, Irsan Idroes, Ghalieb Mutig Mardayanti, Ulfa Maulidar, Putri Ringga, Edi Saputra Saputra, Jumadil