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Journal of Economicate Studies
Published by Islamicate Institute
ISSN : -     EISSN : 25984799     DOI : -
Core Subject : Economy, Education,
Journal of Economicate Studies (JoES) is a publication dedicated to and focused on the scholarly study of all aspects of Economicate studies. This journal receives articles from lecturers and researchers who have the new and progressive issues on scholarly study of all aspects of Economicate related, but not limited to, microeconomics, macroeconomics, managerial economics, monetary economics, fiscal policy, public sector economics, development economics, economics of education, economics of health, labor economics, economics of philanthropy, and religion based economics, as well as ethical questions related to the economics available in the societies all around the world.
Arjuna Subject : -
Articles 94 Documents
Islamic Economic Perspectives on Sustainable Production and Environmental Stewardship Hartanto, Selamet; Amir Sup, Devid Frastiawan
Journal of Economicate Studies Vol. 5 No. 2 (2021): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v5i2.890

Abstract

This article examines the interconnection between production and environmental sustainability through the lens of Islamic economics. It explores how core Islamic principles such as khilāfah (stewardship), mīzān (balance), maṣlaḥah (public interest), and ʿadl (justice) provide an ethical foundation for sustainable economic behavior. Using a qualitative approach rooted in document analysis, the study synthesizes classical Islamic teachings with contemporary environmental policy and sustainability science. The findings highlight the potential for operationalizing Islamic ethics through green sukuk, environmental waqf, and Shariah-based policy reforms. Unlike secular models that rely on external enforcement, Islamic ethics embed ecological care within spiritual obligations. The study offers a normative and practical framework that redefines production as a trust-oriented and ecologically responsible process. It contributes both theoretically and practically to developing faith-based models of sustainability, urging policymakers and institutions to integrate Islamic values into environmental governance and production systems.
The Influence of Market Reaction on Capital Structure Moderated by Economic Package Policies Nurhayati
Journal of Economicate Studies Vol. 5 No. 2 (2021): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v5i2.892

Abstract

The economic crisis in Indonesia was influenced by the 2015 devaluation of China . This prompted the Government to issue an economic policy to stabilize the economy in Indonesia. This study aims to prove empirically how market reactions affect the capital structure before economic policy moderation. and the effect of market reactions on capital structure after being moderated by economic policies on property companies listed on the Indonesia Stock Exchange from 2015 to 2018. The dependent variable in this study is capital structure, the independent variable is market reaction and the moderating variable is economic policy. This study uses descriptive verification methods to determine the effect of market reactions on capital structure, and event study methods to determine how economic policies affect market reactions that will affect capital structure. by measuring the difference in abnormal returns and trading volume activity, which is a proxy for market reactions before and after the issuance of economic policies. Economic policy related to this research is economic policy related to property companies. The SPSS application was used in this study, and used moderated regression analysis. The results showed an increase in the effect of market reactions on the capital structure after the issuance of economic policies relating to property companies and economic policy moderation occurred which increased market reactions that had an effect on the capital structure. Economic policy is the application of development policies that encourage people to invest, which is reflected in market reactions which then affect the capital structure. This article examines how the concept of market reaction affects the structure of capital before and after the announcement of economic policy.
Cash Waqf Linked Sukuk: A Sharia-Compliant Model for Sustainable Development Paul, Wina; Faudji , Rachmad
Journal of Economicate Studies Vol. 5 No. 2 (2021): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v5i2.893

Abstract

This study explores Cash Waqf Linked Sukuk (CWLS) as a Sharia-compliant financial innovation for sustainable Islamic economic development. By integrating the philanthropic principles of waqf with the structured investment potential of sukuk, CWLS serves as a blended model that aligns with maqāṣid al-sharīʿah. The research adopts a qualitative-descriptive approach, reviewing classical Islamic finance theory and modern policy implementations. Findings show that CWLS can finance key sectors such as education, healthcare, and infrastructure without burdening public budgets. It mobilizes dormant charitable capital, enhances financial inclusion, and institutionalizes ethical governance. The study also identifies implementation barriers, including regulatory fragmentation and institutional inefficiencies, and proposes solutions grounded in legal harmonization and capacity building. This research contributes conceptually by framing CWLS as an ethical investment vehicle and practically by offering policy directions for governments and waqf institutions. CWLS is shown to be a viable tool for long-term, inclusive, and spiritually guided development.
Mining and Motivation: Impacts on Al-Ishlah Bobos Islamic Cooperative Development Komarudin, Udin
Journal of Economicate Studies Vol. 5 No. 2 (2021): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v5i2.894

Abstract

This study examines the socio-economic impact of C Gunung Kuda mining on the Al-Ishlah Bobos Islamic Boarding School Cooperative in Cirebon Regency, Indonesia. Drawing upon Maslow’s motivation theory, Islamic economic principles, and cooperative institutional models, it explores how extractive industrial activities influence member motivation and economic behavior. The research employs qualitative document analysis to uncover thematic patterns of behavioral change, institutional adaptation, and ethical tension. Findings reveal a shift from intrinsic, faith-driven motivation to extrinsic, profit-oriented engagement among cooperative members. Economic disruptions include declining collective investment and weakened operational stability. The cooperative faces a conflict between maintaining Islamic ethical standards and adapting to external industrial pressures. This study contributes to theoretical discourse by integrating religious and motivational frameworks and offers practical guidance for resilience in sharia-based cooperatives facing industrial encroachment. The implications highlight the need for policy alignment and ethical adaptation strategies to preserve cooperative sustainability and spiritual integrity.
Harmony of The Concept of Mohammad Hatta and Sharia Cooperative to Prevent Inflation Peti Savitri
Journal of Economicate Studies Vol. 6 No. 1 (2022): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v6i1.895

Abstract

This article raises the concept of the cooperative "Bung Hatta" which is harmonized with the principles of Islamic cooperatives as a discourse that might be one of the models of inflation control policies in Muslim countries. Through the study of literature, the concept is presented descriptively to explain how cooperatives can become a powerful driver of the people's economy so that ultimately it becomes a solution not only to the problem of inflation that always arises in all countries, especially developing countries, but also can be a solution to the main Macroeconomic problems other than inflation, namely economic growth and unemployment.
Achieving Full Satisfaction: Revealing the Influence of the Quality of Information, Systems, and Application Services on Information System User Satisfaction Prasojo, Luqman
Journal of Economicate Studies Vol. 7 No. 1 (2023): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v7i1.816

Abstract

Influence testing is the goal of this study, by analyzing information quality, system quality, and application service quality to information system users. In today's digital era, information systems play an important role in increasing organizational efficiency and effectiveness. However, user satisfaction with the information system is an important benchmark that can affect the success of the implementation and acceptance of the system by its users. This study uses a quantitative approach using survey data collected from information system users. Survey data were analyzed using the regression analysis method to examine the relationship between the independent variables (information quality, system quality, and application service quality) and the dependent variable (system user satisfaction). This variable was adopted from the Information System Success model designed by DeLone and McLean in 2003 by using several required variables. The results of this study indicate that there is a significant positive effect of information quality on system user satisfaction. Information that is accurate, relevant, and easily accessible provides great benefits for users in using information systems. In addition, the quality of information also has a positive effect on system user satisfaction. The good performance, reliability, and speed of the system in processing user requests, enables users to achieve their goals more effectively and efficiently. Furthermore, application service quality also has a positive influence on system user satisfaction. Services that are responsive, accessible anytime and anywhere, friendly and professional provide a positive experience for users. This research provides important insights, especially for information system developers and application service providers to be able to consider that user experience and system user satisfaction are components that need to be prioritized. In facing increasingly fierce competition, service providers need to ensure that their information systems are able to provide good quality information, have reliable systems, and provide application services that meet user expectations. Thus, achieving full satisfaction is the goal of the organization to continue to improve, which in turn will increase the adoption and acceptance of information systems by users.
Monetary Policy and Fiscal Policy for Economic Development in Indonesia Suyatna, Nano
Journal of Economicate Studies Vol. 5 No. 2 (2021): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v5i2.891

Abstract

The Covid-19 pandemic is an extraordinary disaster, affecting all sectors and aspects of life globally. It needs government intervention, because it causes a significant increase in opposition to the economic development that is currently being built in Indonesia. The research method used a descriptive approach which was sourced from quantitative secondary data. The results show that there is an effect of monetary policy and fiscal policy on economic development in Indonesia, with the monetary and fiscal stimuli issued by the government. With this stimulus, it was able to boost unemployment and poverty levels so that they did not continue to increase. Monetary policy and fiscal policy are tools for economic development in order to maintain national economic stability and achieve the welfare of the Indonesian people.
Analyzing Islamic Financial Asset Growth in Indonesia Through Sharia Fund Asset Growth Andriani, Marina; Isfiyanti , Silvia; Rahmawati, Rima Siti; Mutiaulfah , Syifa; Ruminarasa, Sri Tesa; Irfanudi, Naufal Zaidan
Journal of Economicate Studies Vol. 9 No. 1 (2025): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v9i1.896

Abstract

The rapid expansion of Islamic finance in Indonesia has signaled a shift in national economic dynamics, driven in part by the rising role of sharia-compliant financial instruments. Among these instruments, sharia funds have emerged as a critical vehicle for financial inclusion and asset growth, particularly within the framework of Islamic ethical investment. This study aims to analyze the patterns, performance, and strategic development of Islamic financial asset growth in Indonesia through the lens of sharia fund asset expansion. Utilizing qualitative and document-based analysis, the research examines relevant financial policies, market behavior, and investor responses that shape the current trajectory. It addresses key research questions related to the mechanisms of sharia fund contribution, structural advantages, and institutional challenges. The findings highlight the centrality of sharia funds in boosting Islamic financial assets and underscore the policy and management implications for sustainable financial development. The study contributes conceptually to the discourse on Islamic financial markets and offers practical insights for future strategic planning.
Contrasting Capitalist and Sharia Economic Systems: A Comparative Inquiry into Core Economic Values Hafidz, Dzarin Gifarian Khaulani
Journal of Economicate Studies Vol. 8 No. 1 (2024): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v8i1.897

Abstract

This study offers a comparative analysis of the ethical, institutional, and distributive foundations of capitalist and Sharia economic systems. While capitalism emphasizes market efficiency, individual freedom, and profit maximization, Sharia economics prioritizes divine accountability, social equity, and moral purpose. Drawing on conceptual literature and policy analysis, the research highlights the divergent ethical logics, governance mechanisms, and wealth distribution strategies of each system. Capitalist institutions reward market productivity but often generate inequality and value-neutral governance. In contrast, Sharia-based institutions operationalize justice through instruments such as zakat, waqf, and profit-sharing contracts, embedding ethics into economic life. The study contributes a refined framework for evaluating economic systems based on values and justice, offering both theoretical insights and practical implications for policy and development. This research underscores the urgency of rethinking global economic models in an era of deepening inequality and ethical fragmentation.
State Sukuk Regulation and Strategies for Market Growth in Indonesia Mulyati, Desi Eka
Journal of Economicate Studies Vol. 8 No. 2 (2024): Journal of Economicate Studies
Publisher : Islamicate Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32506/joes.v8i2.389

Abstract

This study analyzes the regulation of State Sharia Securities (SBSN) in Indonesia and explores strategies for sukuk market development. Anchored in Law No. 19/2008, SBSN plays a vital role in financing infrastructure and diversifying sovereign financing. Using qualitative and normative methods, this article reviews legal instruments, fatwas, and institutional policies, along with scholarly and institutional literature. Findings reveal that while sukuk issuance has grown significantly, challenges remain in legal harmonization, tax treatment, investor protection, liquidity, and awareness. Comparative insights suggest Indonesia must strengthen its regulatory clarity, secondary market infrastructure, and product diversity to match global peers. Policy recommendations include establishing a Sukuk Development Agency, harmonizing regulations, introducing benchmark sukuk, promoting retail and green sukuk, and enhancing international integration. This study contributes theoretically to sovereign sukuk regulation discourse and practically to policymaking in Islamic finance.

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