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All Journal Journal of Sharia Micro Enterprise and Cooperation Journal of Applied Econometric
Safei Muslim, Imam
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Economics, Econometrics & Finance

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Bridging Faith and Finance: A Comparative Study of Sharia-Compliant Microfinance Performance Across West Java Safei Muslim, Imam
Journal of Sharia Micro Enterprise and Cooperation Vol. 2 No. 2 (2025): Journal of Sharia Micro Enterprise and Cooperation
Publisher : Sekolah Tinggi Agama Islam Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59784/yrw8b655

Abstract

Financial inclusion remains critical globally, with 1.4 billion adults lacking formal financial services. In Indonesia, 49% of adults remain unbanked, particularly in rural areas. Islamic microfinance institutions offer Sharia-compliant alternatives for Muslims avoiding conventional finance, yet limited empirical evidence exists on comparative performance across models regarding financial sustainability, social impact, and Sharia compliance. This study compares financial and social performance of Islamic microfinance models (BMTs, BPRS, Islamic cooperatives) across West Java, examines Sharia compliance adherence, and identifies key performance determinants including institutional characteristics and regional contexts. A comparative cross-sectional study across Western and Eastern West Java analyzed quantitative and qualitative data from representative samples. Financial metrics, social outreach indicators, and Sharia compliance measures were examined to identify performance determinants and regional disparities. Significant regional disparities emerged, with Western institutions demonstrating superior financial sustainability and outreach. Institutional age, staff capacity, and authentic Sharia compliance were key performance determinants. Dual-mission tension exists between financial sustainability and poverty outreach, with larger loans improving financial performance but potentially reducing poorest client focus. Findings provide empirical evidence on Islamic microfinance performance variations, emphasizing context-specific strategies, human capital development, and authentic Sharia governance importance for achieving both financial sustainability and social objectives in diverse regional settings.
Economic Impacts of Minimum Wage Policy Adjustments in Indonesia: A Panel Analysis of Provincial Data Safei Muslim, Imam
Journal of Applied Econometric Vol. 2 No. 1 (2026): Journal of Applied Econometric
Publisher : Sekolah Tinggi Agama Islam Kuningan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59784/journaljoae.v2i1.36

Abstract

Background:This study investigates the economic impacts of minimum wage policy adjustments across Indonesian provinces using panel data from 2010 to 2023. The research aims to explore how changes in minimum wage at the provincial level affect key economic indicators, such as employment rates, GDP growth, poverty levels, and income inequality.Objective:The objective of this research is to empirically assess the effects of provincial minimum wage changes on economic indicators. The focus is on understanding how these adjustments impact employment, economic growth, and social outcomes in Indonesia.Method:The study employs fixed-effects panel regression models with provincial and time dimensions. It controls for province-specific heterogeneity and common time shocks, analyzing 34 provinces over 14 years (2010-2023), totaling 476 province-year observations. This methodology is used to identify the causal effects of minimum wage changes on the selected economic indicators.Findings and Implications:The findings indicate nuanced effects of minimum wage increases. Formal sector employment shows a modest negative impact (elasticity of −0.15), especially in labor-intensive manufacturing sectors, while informal sector employment rises by 0.23% for each 10% wage increase. GDP growth is positively correlated with minimum wage levels (elasticity of 0.08), suggesting that wage-driven consumption outweighs competitiveness concerns.Conclusion:This study provides rigorous province-level evidence from Indonesia’s diverse economic landscape, demonstrating the importance of understanding the broader macroeconomic context in shaping the effectiveness of labor policies like minimum wage adjustments. Policymakers must optimize these frameworks to ensure balanced economic growth, poverty reduction, and reduced income inequality across provinces.
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