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All Journal Lentera Demokrasi: Jurnal Ilmu Sosial, Politik, Hukum, Ekonomi dan Pemerintahan
Sifah Faoziah
Universitas Darul Ma'arif Indramayu
Religion Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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Economic Development: Development Theories and Their Implementation in Indonesia Sifah Faoziah; Indri Nailatul Ma'rifah; Hudallah Hudallah
Lentera Demokrasi: Jurnal Ilmu Sosial, Politik, Hukum, Ekonomi dan Pemerintahan Vol. 1 No. 4 (2025)
Publisher : Penerbit Hellow Pustaka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61166/ld.v1i4.23

Abstract

Economic development is a nation’s effort to improve the welfare of its people by increasing income levels, expanding equal opportunities, and transforming the economic structure. For Indonesia, economic development is of great importance because it can help reduce poverty, create employment opportunities, and enhance the nation’s competitiveness at the international level. However, economic development is not solely about increasing economic growth figures. In reality, challenges remain in the form of regional disparities, social inequality, and difficulties in maintaining environmental sustainability. Several studies also indicate that economic growth in Indonesia has not been evenly distributed across regions, and that inclusive and environmentally sustainable growth still requires significant improvement. Therefore, it is essential to study theories of economic development and examine their application in the Indonesian context so that the development process can become more equitable, inclusive, and sustainable.
The Role of Government in Indonesia’s Economy: State Budget, Fiscal, and Monetary Policies Sifah Faoziah; Rifqi Rifqi
Lentera Demokrasi: Jurnal Ilmu Sosial, Politik, Hukum, Ekonomi dan Pemerintahan Vol. 1 No. 4 (2025)
Publisher : Penerbit Hellow Pustaka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61166/ld.v1i4.27

Abstract

The government plays a strategic role in the national economy as a regulator, coordinator, and guarantor of public welfare. This role is manifested through regulatory functions, income redistribution, economic stabilization, the provision of economic stimulus, and protection for economic actors. In carrying out these roles, the government utilizes key policy instruments, namely the State Budget (APBN), fiscal policy, and monetary policy, which are interrelated and mutually reinforcing. The APBN serves as an instrument of planning, authorization, supervision, allocation, distribution, and economic stabilization, while also functioning as an essential tool for promoting economic growth and equitable development. Nevertheless, the management of the APBN continues to face challenges, particularly with regard to transparency and budget oversight, as reflected in cases of budget mismanagement that have resulted in state losses and hindered development efforts. Fiscal policy plays a crucial role in influencing macroeconomic conditions through the regulation of taxation, government expenditure, and deficit financing, implemented in the form of either expansionary or contractionary policies to maintain economic stability and fiscal sustainability. Meanwhile, monetary policy, implemented by the central bank, focuses on controlling the money supply, maintaining price stability, stabilizing the exchange rate, and safeguarding the financial system, while also taking into account global economic dynamics and developments in financial technology. From an Islamic economic perspective, monetary policy emphasizes principles of justice, equity, and the prohibition of riba (interest). The synergy between the APBN, fiscal policy, and monetary policy is essential in achieving stable, inclusive, and sustainable economic growth in Indonesia.
Co-Authors Hudallah Hudallah Indri Nailatul Ma'rifah Rifqi Rifqi