amilusholihah
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External Debt In Indonesia’s Economic Growth: Role Macroeconomic Performance amilusholihah; Waspada, Ikaputera
JIES : Journal of Islamic Economics Studies Vol. 5 No. 3 (2024): Oktober
Publisher : Program Studi Ekonomi Islam, Fakultas Ekonomi, Universitas Hasyim Asy'ari Tebuireng

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33752/jies.v5i3.7293

Abstract

The aim of this study is to analyze the impact of Gross Domestic Product (GDP), exports, foreign exchange reserves, and exchange rates on Indonesia's external debt. A quantitative approach was employed using multiple linear regression analysis techniques with Ordinary Least Squares (OLS) methodology, conducted through SPSS software version 24. Annual time series data for 26 years, from 1997 to 2022, were obtained from the World Bank and Bank Indonesia (BI). The study results indicate that simultaneously the independent variables GDP, exports, foreign exchange reserves and the exchange rate have a significant effect on foreign debt. Then, partially with a significance level of five percent, the GDP and exchange rate variables have a positive and significant effect on Indonesia's external debt. Meanwhile, exports and foreign exchange reserves have a negative and significant effect on Indonesia's external debt. These results suggest that external debt continues to be a significant policy tool for promoting Indonesia's economic development and growth. Therefore, it is recommended that the government concentrate on macroeconomic strategies, such as increasing exports of high-value commodities, ensuring exchange rate stability, and optimizing external debt for investment in productive sectors, to promote economic expansion.
E-Business Innovation on SME Resilience Model: The Moderating Role of Financial Literacy Rosmawati, Wiwin; Judijanto, Loso; Amilusholihah; Sopandi, Encep; Arifin, Zainal; Achmad, Fandi
Journal of Economics, Business, and Accountancy Ventura Vol. 28 No. 1 (2025): April-July 2025
Publisher : Universitas Hayam Wuruk Perbanas

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14414/jebav,28(1)2025,4729

Abstract

In the era of advanced digitalization, the ability of SMEs to adapt and adopt e-business innovation is a key factor to survive and compete in the global market. This study aims to determine the effect of e-business innovation in improving the resilience of SMEs and explore the extent to which financial literacy moderates the relationship between the adoption of e-business innovation and SME resilience. This research was conducted in the printing sector of Malang City, Indonesia, which has around 2,145 printing SMEs based on data from the Malang City Cooperative Office in 2023. The research method uses a quantitative approach with a Structural Equation Model (SEM) assisted by the Smart PLS application. The sampling technique used purposive sampling with a sample of 100 SMEs selected based on criteria such as business size, level of e-business technology adoption, and financial literacy. The results showed that the variables studied had a significant and positive effect so that it was accepted. In addition, strong financial literacy can strengthen the relationship between e-business innovation and SME resilience. These findings underscore the importance of improving financial literacy among SMEs as part of the strategy to maximize the benefits of ebusiness innovation in improving SMEs' business resilience.