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Mochammad Tanzil Multazam
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Universitas Muhammadiyah Sidoarjo Majapahit 666 B, Sidoarjo, East Java Indonesia
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INDONESIA
Indonesian Journal of Law and Economics Review
Published by Universitas Muhammadiyah Sidoarjo
ISSN : -     EISSN : 25989928     DOI : https://doi.org/10.21070/ijler
Core Subject : Economy, Social,
Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice
Indonesian Journal of Law and Economics Review (IJLER) is published by Universitas Muhammadiyah Sidoarjo four times a year. This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.This journal aims is to provide a place for academics and practitioners to publish original research and review articles. The articles basically contains any topics concerning Law and Economics. IJLER is available in online version. Language used in this journal is Indonesia or English.
Arjuna Subject : Ilmu Sosial - Hukum
Articles 27 Documents
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Search results for , issue "Vol. 21 No. 1 (2026): February" : 27 Documents clear
Public View as an Aggravating Factor in Joint Violence According to Article 170 Paragraph (2) of the Criminal Code: Vis Publica Sebagai Pertimbangan Pemberat Pidana dalam Kekerasan Bersama Menurut Pasal 170 Ayat (2) KUHP Purba, Gilbert; Rahaditya, Rahaditya
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1411

Abstract

General Background: Violence committed collectively poses broader social risks because it disrupts public order and triggers wider societal anxiety. Specific Background: In Indonesian criminal law, vis publica in Pasal 170 KUHP functions as a key qualifier distinguishing ordinary assault from public-order crimes, yet its judicial interpretation remains inconsistent. Knowledge Gap: Existing scholarship has not clarified how vis publica should operate as a basis for sentencing aggravation under Pasal 170 ayat (2) KUHP, nor how judges should evaluate its causal relevance to social disturbance. Aims: This study analyzes the juridical status of vis publica as a judicial consideration in imposing aggravated penalties for collective violence. Results: Findings show that vis publica acts as a legal threshold for classifying the offense as a public-order crime, but it only justifies aggravated sentencing when judges demonstrate its concrete contribution to expanding social harm. Novelty: This research formulates a structured reasoning model requiring judges to link public visibility with measurable disturbance before escalating punishment. Implications: Strengthening doctrinal clarity on vis publica supports proportional sentencing, enhances legal certainty, and improves consistency in judicial decision-making in collective-violence cases. Highlights: Vis publica is the legal threshold that transforms individual assault into a public-order crime. Aggravated sentencing requires a proven causal link between public visibility and expanded social harm. Judicial reasoning must be structured, proportional, and grounded in measurable disturbance. Keywords: Vis Publica, Pasal 170 KUHP, Collective Violence, Sentencing Aggravation, Public Order.
The Principle of Judges in Determining the Validity of Grounds for Criminal Expungement in the Criminal Justice System in Indonesia: Prinsip Hakim dalam Menentukan Sah Tidaknya Alasan Penghapus Pidana Pada Sistem Peradilan Pidana di Indonesia Nasrullah, Mochammad Ridho; Hutabarat, Rugun Romaida
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1412

Abstract

General Background: Grounds for the exclusion of criminal liability serve as essential mechanisms within Indonesian criminal law to ensure that punishment is not imposed automatically when the elements of a crime are fulfilled, but instead aligned with substantive justice. Specific Background: Although Articles 48–51 of the Criminal Code regulate justifying and excusing grounds, judicial practice demonstrates variations in how judges assess their validity. Knowledge Gap: Limited scholarship has comprehensively explained the principles applied by judges in determining whether these grounds are legally acceptable, particularly in cases involving psychological conditions and proportionality assessments. Aims: This study aims to analyze the normative framework of grounds for criminal exemption and identify the principles guiding judicial evaluation. Results: The findings show that judges consistently apply the principles of proportionality, subsidiarity, and culpa in causa, while also assessing trial facts, the defendant’s mental state, and the balance between the threat faced and the defensive act. Novelty: This research highlights that judges also consider jurisprudence and customary law as extended bases for exemption beyond the Criminal Code. Implications: These findings underscore the need for consistent judicial guidelines to ensure that the application of grounds for criminal exemption remains aligned with the objectives of criminal law and the pursuit of substantive justice. Highlights: Judges apply proportionality, subsidiarity, and culpa in causa to assess criminal exemption. Trial facts and the defendant’s psychological condition strongly influence judicial decisions. Jurisprudence and customary law expand exemption grounds beyond the written Criminal Code. Keywords: Criminal Exemption, Judicial Principles, Proportionality, Indonesian Criminal Code, Substantive Justice  
MeasurMeasuring The Size of The Black Economy in Iraq and Analyzing Its Economic and Social Impactsing the size of the black economy in Iraq and analyzing its economic and social impacts: A study analytical Abdulwahid, Oday Ibrahim; Ibrahim, Mustafa Ali; Saeed, Yasir Jihad
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1423

Abstract

Background: The black economy undermines fiscal sustainability and policy effectiveness in developing nations. Specific Context: Iraq faces structural challenges including weak governance, political instability, and high unemployment, exacerbating informal economic activities. Gap: Existing Iraqi studies lack rigorous quantitative measurements using advanced models. Aim: This study measures Iraq's black economy (2004-2023) using the MIMIC model. Results: Corruption, tax burden, unemployment, and political crises significantly expand the informal economy, while improved governance reduces it. Novelty: First comprehensive application of MIMIC model with integrated causal-indicator framework for Iraq. Implications: Findings inform evidence-based policies for institutional reform, tax system simplification, and financial inclusion to mitigate informal economic activities.Highlight : MIMIC model identifies corruption, tax burden, unemployment, and political crises as primary drivers of Iraq's black economy (2004-2023). Black economy peaked during instability periods (2006-2007, 2014-2016, 2020); improved governance reduces informal activities. Governance reform, tax system simplification, and financial inclusion are key to integrating informal activities into formal economy. Keywords : Shadow Economy, MIMIC Model, Iraq, Governance, Tax Burden, Corruption
Poverty As a Catalyst for Migration and International Asylum: An Analytical Study of Turkey's Experience for The Period (2010–2023) Miklif, Dr. Huda Zwair
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1424

Abstract

General Background: Poverty and forced migration represent intertwined global development challenges affecting host-country stability. Specific Background: Turkey has become the world’s largest refugee-hosting country amid rising poverty pressures since 2010. Knowledge Gap: Empirical evidence on the long- and short-term dynamics between poverty and international asylum in Turkey remains limited. Aims: This study analyzes the poverty–asylum relationship during 2010–2023 using an ARDL approach. Results: Findings reveal a significant long-term inverse relationship, with weak short-term effects. Novelty: The study integrates poverty and asylum within a unified econometric framework linked to SDGs. Implications: Effective policy requires coordinated poverty reduction and refugee integration strategies.Highlight : A long-term inverse relationship exists between poverty rates and refugee numbers in Turkey. The short-term relationship between poverty and asylum is weak and statistically insignificant. The results underscore the importance of integrated policies aligned with SDG 1 and SDG 10. Keywords : Poverty, International Asylum, Turkish Economy, ARDL Model, Sustainable Development
Determinants of Insurance Financial Mobilization and Public Budget Support in Iraq Nussaif, Mohammad Ghazi; Majdi, Muayad Hameed; Ibrahim, Zainab Sadeq
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1440

Abstract

General Background: Insurance companies mobilize financial resources through premiums, investments, and reinsurance agreements, contributing to economic stability via tax revenues and employment generation. Specific Background: The Iraqi General Insurance Company and National Insurance Company channel profits to support public finances, yet their fiscal contribution mechanisms remain underexamined. Knowledge Gap: Empirical evidence quantifying determinants of financial resource mobilization in Iraqi insurance companies and their impact on state budget support is limited. Aims: This research identifies factors influencing mobilized financial resources and examines their contribution to the state budget during 2009-2022. Results: Using Partial Least Squares Structural Equation Modeling (PLS-SEM), the study reveals total profits do not significantly affect public treasury shares, with both companies contributing under one percent of total public revenues. Novelty: This investigation provides the first systematic empirical assessment of resource mobilization determinants in Iraqi government insurance companies using variance-based structural equation modeling. Implications: Current regulatory frameworks fail to optimize insurance sector contributions to fiscal sustainability, necessitating policy reforms including tax incentives and enhanced institutional capacity.Keywords : Insurance Financial Resources, State Budget Support, Iraqi Insurance Sector, PLS-SEM Analysis, Economic Growth ContributionHighlight : Insurance company profits show no statistically significant impact on public treasury contributions. Iraqi insurance sector contributes less than 1% of total government revenues. Inflation rate strongly correlates with public treasury share at 89.5% coefficient.
Technical Analysis of Stock Prices Using Japanese Candlestick Method Abbas abdullah Aljanabi, Haider
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1441

Abstract

General Background: Technical analysis provides investors with systematic methodologies for understanding financial market dynamics through chart-based price movement examination. Specific Background: The Japanese candlestick method, originating from 17th century rice trading in Japan, visualizes market psychology through four-coordinate price data representing opening, closing, highest, and lowest values within defined timeframes. Knowledge Gap: Practical application and reliability validation of candlestick patterns in predicting stock price movements across varying market conditions remain insufficiently explored. Aims: This analytical research evaluates Japanese candlestick methodology effectiveness in technical analysis for stock pricing accuracy, examining single and multiple candle patterns to identify trends and reversals. Results: Candlestick patterns demonstrate 79.4% accuracy in predicting price directions, though requiring specialized expertise for proper implementation. Novelty: This study systematically examines pattern effectiveness integrating volume analysis and market contextual factors. Implications: Enhanced investor education through specialized training programs is essential for effectively leveraging Japanese candlestick analysis to optimize stock market investment returns.Keywords : Technical Analysis, Japanese Candlestick, Stock Price Prediction, Candlestick Patterns, Financial Market TrendsHighlight : Candlestick patterns achieve 79.4% accuracy in predicting stock price direction movements. Method demands specialized expertise due to complexity requiring extreme caution in application. Reversal patterns combined with volume analysis provide optimal trading entry-exit points.
Electronic Payment Systems Reduce Informal Cash Holdings and Strengthen Iraqi Economic Stability Madlool Ibrahim, Mohammed; Al-Ramli, Abdullah Muhammad Rashid; Asmaeel, Sabah Ahmed
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1442

Abstract

General Background: Cash dominance and low financial inclusion constrain monetary control in developing economies. Specific Background: In Iraq, extensive cash circulation outside banks has weakened monetary policy during 2010–2024 despite expanding electronic payments. Knowledge Gap: Empirical evidence on how electronic payment adoption affects informal money supply and macroeconomic outcomes in Iraq remains limited. Aims: This study examines the relationship between electronic payment methods and cash outside the banking system and their macroeconomic effects. Results: Expanded electronic payments correlate inversely with informal cash, improving financial inclusion and monetary policy efficiency. Novelty: It provides a long-term Iraqi case analysis linking digital payments to informal money reduction. Implications: Strengthening payment infrastructure and supportive legislation can enhance monetary stability and economic growth.Keywords : Electronic Payment Systems, Informal Money Supply, Financial Inclusion, Monetary Policy Effectiveness, Iraqi Banking SectorHighlight : Electronic payment adoption shows inverse relationship with informal cash circulation in Iraq's banking system. Weak banking infrastructure and low public trust hinder digital payment expansion despite government initiatives. Financial inclusion remains insufficient with only 2.67 bank branches per 100,000 adults by 2024.
The Legal Framework of Corporate Governance in Joint-Stock Companies Faaeq Mahdi, Hatem
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1443

Abstract

General Background: Corporate governance emerged as a response to recurring financial and managerial crises affecting companies and capital markets worldwide. Specific Background: In joint-stock companies, governance functions as a legal and economic framework regulating relationships among shareholders, boards, management, and stakeholders to ensure transparency and accountability. Knowledge Gap: Despite its growing relevance, the legal and economic dimensions of corporate governance remain insufficiently integrated in existing analyses. Aims: This study examines the legal framework and economic significance of corporate governance in joint-stock companies. Results: Governance enhances stability, investor confidence, and institutional performance. Novelty: The study synthesizes legal and economic perspectives within a unified framework. Implications: Findings support governance adoption to strengthen corporate sustainability and market confidence.Keywords : Corporate Governance, Joint-Stock Companies, Shareholder Rights, Financial Transparency, Economic DevelopmentHighlight : Governance rules enhance transparency, fairness, and protection of shareholder rights, supporting institutional stability and continuity. Weak oversight and accounting practices cause crises, while governance mechanisms reduce corruption and mismanagement risks. Effective implementation strengthens investor confidence, market value, and economic growth across developing and emerging economies.  
Social Justice and Sustainability: towards a more Inclusive Development Model Mohsin, Basima Nyaz; Nasir, Ali Ayed
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1444

Abstract

General Background: Sustainable development has become a global framework since 1987, yet often neglects social justice's critical role in achieving comprehensive development. Specific Background: Contemporary development faces challenges including economic inequality, disproportionate climate impacts on vulnerable groups, inadequate social policies, and complex crises affecting marginalized populations. Knowledge Gap: The integration of social justice dimensions—distributive, procedural, and recognizable—into development frameworks remains insufficiently addressed in policy discourse. Aims: This article examines social justice and sustainable development interconnections, evaluates current challenges, and reviews global experiences to propose an inclusive development model. Results: Analysis reveals social justice as fundamental to sustainable development, with Sweden, Kenya, Egypt, and UAE demonstrating effective integration strategies. Novelty: The article proposes a comprehensive framework balancing economic, social, and environmental dimensions through six strategic components: strengthened social policies, legislative reforms, equitable resource distribution, diversity recognition, monitoring mechanisms, and international cooperation. Implications: Achieving 2030 Sustainable Development Goals requires systematic justice integration into policies to ensure societal cohesion, reduce inequality, and guarantee sustainable futures for current and future generations.Keywords : Social Justice, Sustainable Development, Inclusive Development Model, Economic Inequality, Environmental JusticeHighlight : Three justice dimensions enable equitable resource distribution and inclusive decision-making processes. Climate crises disproportionately affect vulnerable groups, requiring environmental justice in development strategies. Strong social policies and legislative reforms reduce inequality and enhance societal stability
The Legal Responsibility of the Air Carrier for the Damages Caused by Terrorist Operations Al-Allaq, Ahmed Jabbar Hadi
Indonesian Journal of Law and Economics Review Vol. 21 No. 1 (2026): February
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/ijler.v21i1.1445

Abstract

General Background: Global security faces escalating threats from terrorism, particularly targeting air transport systems which constitute critical infrastructure for international commerce and communication. Specific Background: Terrorist incidents in aviation have proliferated, ranging from aircraft hijacking to in-flight sabotage, creating unprecedented challenges for determining civil liability frameworks under international conventions such as the 1999 Montreal Convention. Knowledge Gap: Despite extensive international legislation, ambiguity persists regarding the precise legal basis and extent of air carrier responsibility for damages resulting from terrorist acts during air transportation operations. Aims: This study examines the civil liability of air carriers for terrorism-related damages, analyzing international conventions and judicial precedents to determine accountability parameters throughout the air transport process. Results: The research establishes that carrier responsibility extends to terrorist incidents when adequate preventive security measures are not implemented, with liability encompassing both pre-incident negligence and post-incident failure to mitigate consequences, irrespective of foreign cause defenses. Novelty: The study adopts an expanded interpretation of "air accidents" that encompasses terrorism as carrier-related incidents rather than external events, thereby broadening the scope of compensable damages beyond traditional aviation accident frameworks. Implications: These findings mandate stricter carrier obligations for passenger protection, ensuring compensation accessibility for terrorism victims while promoting enhanced aviation security measures globally.Keywords : Air Carrier Liability, International Terrorism, Civil Aviation Security, Montreal Convention, Passenger CompensationHighlight : Air carriers bear responsibility when failing to implement necessary terrorist prevention measures. Montreal Convention 1999 combines fault-based and objective liability for passenger protection balance. Terrorist incidents qualify as air accidents warranting carrier compensation regardless of perpetrator prosecution.

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