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ANALYSIS OF ECONOMIC FACTORS AFFECTING THE GROWTH OF THE PHARMACEUTICAL INDUSTRY AND ITS IMPACT ON LABOUR ABSORPTION IN INDONESIA: A LITERATURE REVIEW Gunawan Widjaja; Diana Laila Ramatillah; Rio Johan Putra
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 11 (2025): AUGUST
Publisher : Adisam Publisher

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This study aims to analyse the economic factors that influence the growth of the pharmaceutical industry and its impact on employment in Indonesia through a literature review study. The pharmaceutical industry is one of the strategic sectors that continues to grow in line with the increasing public need for health products and government policy support. The study results show that investment, government policies, exchange rate fluctuations, dependence on imported raw materials, and technological innovation are the main economic factors that influence the growth of the national pharmaceutical industry. The growth of this sector has a positive impact on labour absorption, both directly in production and indirectly through supporting sectors such as distribution and research. However, challenges related to the quality of human resources and raw material independence still need to be overcome so that the pharmaceutical industry can contribute more optimally to the economy and job creation in the future.

CONTRIBUTION OF THE PHARMACEUTICAL INDUSTRY TO ECONOMIC GROWTH AND PUBLIC HEALTH IN INDONESIA: A LITERATURE REVIEW Gunawan Widjaja; Diana Laila Ramatillah; Rio Johan Putra
INTERNATIONAL JOURNAL OF ECONOMIC LITERATURE Vol. 2 No. 11 (2025): AUGUST
Publisher : Adisam Publisher

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The pharmaceutical industry is one of the strategic sectors in economic development and health in Indonesia. As the fourth largest contributor among non-oil and gas manufacturing industries, the pharmaceutical industry has contributed significantly to economic growth, especially during the Covid-19 pandemic, where the sector's growth remained positive amid the national economic contraction. This contribution can be seen from the added value generated, increased investment, and job creation that continues to grow every year. In addition, the growth of the pharmaceutical industry in Indonesia is also influenced by an increase in population, an increase in life expectancy, and changes in people's behaviour that are increasingly aware of the importance of health. In terms of public health, the pharmaceutical industry plays an important role in providing quality, safe, and affordable medicines that support wider access to health services, including in government priority programmes such as the National Health Insurance (JKN). The availability of quality pharmaceutical products is also a key element in supporting the prevention and control of various diseases, as well as improving the quality of life and life expectancy of the Indonesian population. Innovation and technological adaptation carried out by the national pharmaceutical industry have helped drive production efficiency, expand the domestic market, and strengthen competitiveness at the regional level. However, the national pharmaceutical industry still faces major challenges, including dependence on imported raw materials, competition from global pharmaceutical products, production efficiency, and the need to strengthen sustainable research and development (R&D). Therefore, synergy between the government, industry players, and other stakeholders is needed to strengthen competitiveness and enlarge opportunities for the development of the pharmaceutical industry as a pillar of economic growth as well as improving public health in the future.

CONTRIBUTION OF PHARMACIES AND PHARMACISTS TO LOCAL ECONOMIC GROWTH AND CONTROL OF PUBLIC HEALTH COSTS Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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Pharmacies and pharmacists play a strategic role in supporting health development while contributing to local economic growth. This study aims to analyse the contribution of pharmacies and pharmacists to the local economy and their efforts in controlling public health costs. Through literature review and descriptive approach, it was found that pharmacies not only provide access to medicines and health services but also create jobs, support micro and small businesses, and increase the income of the surrounding community. On the other hand, pharmacists play a role in educating the public about rational drug use, promoting the use of generic drugs, and conducting efficient patient therapy management. These roles have proven to reduce healthcare costs at both the individual and national levels. Thus, pharmacies and pharmacists not only function as elements of healthcare services but also as agents of economic development and pillars of efficiency in the public healthcare system.

OPTIMISING PHARMACY FINANCIAL MANAGEMENT: THE ROLE OF PHARMACISTS IN IMPROVING EFFICIENCY AND SUSTAINABILITY IN THE PHARMACEUTICAL BUSINESS Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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Optimising pharmacy financial management plays a crucial role in addressing the challenges of operational efficiency and business sustainability in the pharmaceutical industry amid increasingly competitive market conditions. As the primary managers, pharmacists have strategic responsibilities in planning, controlling, and reporting finances in a transparent and accountable manner. With good financial management—including budget planning, cash flow management, inventory control, and the use of information technology—pharmacists can minimise the risk of waste, maintain operational smoothness, and ensure business profitability. The active role of pharmacists also contributes to improving the quality of pharmaceutical services, the efficient use of resources, and adaptation to pharmaceutical business regulations, thereby becoming a key factor in maintaining the sustainability and competitiveness of pharmacies.

LOCAL BUSINESS DYNAMICS IN THE ERA OF GLOBALISATION: LEGAL UNCERTAINTY, GLOBAL COMPETITION, AND ADAPTIVE STRATEGIES OF LOCAL ENTREPRENEURS Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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This study examines the dynamics of local businesses in the era of globalisation, focusing on the challenges of legal uncertainty, global competition, and the adaptive strategies implemented by local entrepreneurs. Globalisation has opened up opportunities for market access, but it has also increased the risks to the sustainability of local businesses due to the entry of global players who are superior in terms of capital, technology, and networks. Legal uncertainty manifests in various forms, including inconsistent regulatory changes, incompatibility with international law, and weak protection for domestic businesses. Through a literature review, this study identifies that local entrepreneurs address these challenges through product innovation, digital transformation, human resource development, and business network expansion. These adaptive strategies are not only important for maintaining their position in the domestic market but also key to penetrating global markets. Government support in the form of clear regulations, access to technology, and fair legal protection is essential for local businesses to develop sustainably. This study provides insights for business actors, government, and academics to understand the real conditions of local businesses in facing the ever-changing global era.

SYNERGY BETWEEN PUBLIC AND PRIVATE LAW IN REALISING A HEALTHY BUSINESS CLIMATE: A STUDY ON THE IMPLEMENTATION OF THE PRINCIPLE OF BALANCE IN NATIONAL ECONOMIC LAW Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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This study discusses the synergy between public and private law in creating a healthy business climate in Indonesia, with a focus on the implementation of the principle of balance in national economic law. The synergy between these two areas of law is key to creating an economic system that is fair, efficient, and responsive to the dynamics of the modern economy. The study employs a normative legal method with a legislative approach and literature review, analysing written legal norms as well as relevant doctrines and court rulings. The results of the study indicate that the implementation of the principle of balance is crucial for maintaining the proportion of rights and obligations of parties in economic legal relationships, whether in business agreements, commercial transactions, or macro-level regulations. However, its implementation still faces various challenges, such as unequal bargaining positions, low legal literacy, regulations that are not adaptive, and weak law enforcement. Proposed solutions include strengthening legal literacy, regulatory reform, enhanced oversight, and collaboration between the government, businesses, and the public. Thus, the synergy between public and private law and the implementation of the principle of balance are expected to create a healthy, fair, and sustainable business ecosystem in Indonesia.

BALANCE BETWEEN PUBLIC AND PRIVATE ASPECTS IN ECONOMIC LAW: AN ANALYSIS OF THE ROLE OF STATE REGULATION AND RELATIONS BETWEEN BUSINESS ACTORS IN INDONESIA Gunawan Widjaja; Dyah Ersita Yustanti; Rio Johan Putra
INTERNATIONAL JOURNAL OF FINANCIAL ECONOMICS Vol. 2 No. 2 (2025): AUGUST
Publisher : CV. Adiba Aisha Amira

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This study aims to analyse the balance between public and private aspects in economic law in Indonesia, with a focus on the role of state regulation and the dynamics of relationships between business actors. National economic law requires integration between the public interest represented by the state as regulator and the interests of individuals or business entities regulated through private contracts. Through a literature review approach, this study examines various laws and regulations, court decisions, and related scientific literature. The results of the study indicate that state regulation plays an important role in creating a healthy business climate, preventing monopolistic practices, and protecting the rights of consumers and small businesses. On the other hand, relationships between business actors are regulated within the framework of national economic law, which emphasises the principle of freedom of contract while still considering public interests. Synergy between state regulations, business actor compliance, and oversight by relevant institutions is key to creating a fair, inclusive, and sustainable business ecosystem in Indonesia.

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