Evaluating the Effects of Digital Rupiah Innovation, Green Finance, and Monetary Policy Uncertainty on Sustainable Economic Growth in Indonesia

I Ketut Patra (Department of Economics and Development Studies, Universitas Muhammadiyah Palopo)
Sri Wahyuny Mustafa (Department of Economics and Development Studies, Universitas Muhammadiyah Palopo)
Muh Ikbal (Department of Economics and Development Studies, Universitas Muhammadiyah Palopo)
Halim Usman (Department of Accounting, Universitas Muhammadiyah Palopo)
Adya Utami Syukri (Department of Economics & Development Studies, Universitas Hasanuddin)

ETIKONOMI
Vol. 25 No. 2 (2026)

Research Originality: This study is the first to integrate digital rupiah innovation, green finance, and monetary policy uncertainty within a single sustainability-oriented macroeconomic framework for Indonesia. Research Objectives: It examines how these factors, together with digital financial inclusion and renewable energy investment, affect Indonesia's sustainable economic growth and identifies the main growth drivers. Research Method: The study applies a Common Effect Model pooled ordinary least squares regression to annual national aggregate data, following formal panel model selection tests. Empirical Results:  Digital rupiah innovation, digital financial inclusion, and renewable energy investment positively drive sustainable growth, while monetary policy uncertainty constrains it; green finance has no significant effect yet. Implications: Policymakers should accelerate digital payment adoption and financial inclusion, ensure credible monetary policy communication, and strengthen green finance market infrastructure. JEL Classification: E52, E58, G21, O44, Q42