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INDONESIA
Jurnal Ekonomi Indonesia
Published by Ikatan Sarjana Ekonomi Indonesia
ISSN : 08541507     EISSN : 2721222X     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Jurnal Ekonomi Indonesia is a journal published by Ikatan Sarjana Ekonomi Indonesia (ISEI) consists of academic articles on various subject areas including monetary and macroprudential regulation, finance and banking system, international economics, development economics, environmental and natural resource economics. All contents and research studies in the articles of this journal are entirely become the responsibility of the authors and do not represent ISEI’s views.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 110 Documents
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Green infrastructure development challenges: The case of Yogyakarta International Airport Utami, Westi; Sugiyanto, Catur
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.434

Abstract

Infrastructure development, such as airports, often impacts the surrounding economic growth. On the one hand, the airport's economic growth is a desirable logical consequence. However, economic growth often occurs due to increased mining, industrial, plantation, trading, service, and other economic activities, causing changes in land use that do not follow the Spatial Planning and Regional Plans. Therefore, it may have implications for environmental damage. This paper proves a change in land use around Yogyakarta International Airport. Changes are observed through differences in land use in 2015, before the airport plan was built, and 2021, after the airport was operational. The random forest algorithm method is used to classify land use data sets. Furthermore, using the Multilayer Perceptron Neural Network Marcov Chain/ MLP NN-MC algorithm, it is predicted that the conversion of rice fields and plantations around the front side of the airport for housing and business will become even greater in 2030. Thus, the airport's construction has increased land use for business and residential purposes, while the green surface has been dramatically reduced. It was identified that there was a misuse of land use. Without good management, changes in land use can have an impact on decreasing environmental quality. Keywords: green infrastructure, land use change, land use prediction JEL Classification: Q57; R14; O44
Estimating the shadow economy at the provincial level in Indonesia: A MIMIC model approach Lukman, Raif Maulana; Kartiasih, Fitri
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.561

Abstract

The shadow economy encompasses economic activities that are not recorded in the Gross Domestic Product (GDP), resulting in reporting bias and diminished state revenue. This study estimates the size of the shadow economy across 34 Indonesian provinces from 2015 to 2021 using the Multiple Indicators and Multiple Causes (MIMIC) method. The results indicate that the estimated average shadow economy ranges from 4.73% to 42.64% of the provincial GRDP. Key influencing factors include tax burden, government regulations, regional autonomy, self-employed labor, and economic openness. These findings support policies aimed at reducing the shadow economy through tax efficiency, improved regulations, and enhanced welfare for micro, small, and medium enterprises (MSMEs) backed by local governments. Keywords: shadow economy; MIMIC model; regulation; tax burden JEL Classification: E61; E62
A global panel analysis comparing carbon emissions across levels of economic development Tiono, William; Mulia, Ni Pryanka; Kadarusman, Yohanes Berenika; Ramadhanti, Fati
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.562

Abstract

This study compares carbon emissions across panels of high-income countries (HICs) and low- and middle-income countries (LMICs). Using the Environmental Kuznets Curve (EKC) hypothesis as a theoretical framework, this study observes the curve for each income panel using random effects panel regression, controlling for the scale, composition, technological, and pollution outsourcing effects. With a dataset ranging 30 years from 1990 to 2019 and a panel of 18 HICs and 20 LMICs, the regression results validate the presence of an EKC-like relationship between emissions and income per capita for both panels. Key findings show that LMICs are on a path of growth that emits fewer emissions than HICs at the same income level due to access to less emission-intensive technologies. This suggests that, in contrast to previous theoretical understanding, the effects observed in the EKC occur simultaneously rather than sequentially and may be leveraged to dominate at any point on the curve. In practice, LMICs are urged to dismiss the “grow now, clean later” ethos and instead, adopt cleaner production methods through energy efficiency initiatives, technological transfers, and technological leapfrogging to manage economic growth without a corresponding growth in emissions. Keywords: environmental Kuznets curve; panel data; robust random effects; carbon emission JEL Classification: Q56; O44
Investigating inflation dynamics in Indonesia: Identifying the inflation spillover for enhancing regional inflation control Purwa, Taly; Dariwardani, Ni Made Inna; Cendekia, Diyang Gita
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 1 (2025): April
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i1.569

Abstract

This study employs a hybrid New Keynesian Phillips curve (NKPC) model, comprising the dynamic panel, spatial dynamic panel, and semiparametric spatial dynamic panel models, to examine the dynamics of regional inflation in Indonesia from Q1 1997 to Q2 2023. The latter model, which employed the inverse distance weight (IDW), was identified as the most optimal model. The findings indicated that the lagged inflation and output gap variables transmitted a notable impact on regional inflation of Indonesia. Furthermore, the significance of the spatial spillover parameters indicates the existence of spatial regional inflation spillover in Indonesia. Jakarta, Central Java, and East Java represent the three most significant focal points of inflation dynamics in Indonesia, exerting the greatest influence on other regions. While, South Kalimantan, Jakarta, and East Java were the top three regions experiencing the greatest impact from inflationary pressures originating elsewhere. Through sensitivity analysis, it was found that a flattened Phillips curve was present throughout the period under study. It is therefore recommended that policies be intensified with a view to controlling prices, strengthening policy synergies, and improving the efficiency of goods distribution channels, both for the focal point and for regions experiencing inflationary pressures as a result of spillovers. Keywords: direct and indirect effect; inflation; non-linear model; semiparametric model; spatial spillover JEL Classification: C31; E31; F36
Central bank transparency and green innovation policy in Indonesia Alim, Muhammad Birrul; Setiyantono, Aulia Pamasa; Maqfiroh, Selvi
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 2 (2025): August
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i2.557

Abstract

A green economy is a sustainable and environmentally friendly development model. The green economy is expected to improve people's welfare without compromising the quality of the environment and natural resources. The purpose of this study is to determine the long-term and short-term relationship between monetary variables, namely interest rates, broad money, and central bank transparency, on the green economy in Indonesia. This study uses ARDL analysis with a sample period of 1999Q1 to 2019Q4. The results of short-term ARDL research show that green innovation is significantly influenced by innovation in the previous period, interest rates, and central bank transparency. Green innovation tends to increase when influenced by past performance and accommodative monetary policy, although some factors show the opposite impact in specific periods. Meanwhile, the effect of money supply on green innovation is dynamic, initially showing a significant positive impact in the short term but becoming negative in the subsequent period. Central bank transparency is also significant, with a positive direction in lag one and a negative in lag 2.
Simpson index and food security: The case study of Kalimantan Murjani, Ahmadi; Wiratama, Budhi Fatanza
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 2 (2025): August
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i2.559

Abstract

Dietary diversity is a reliable indicator of food security. This study examines diversity in consumption through the Simpson Index using the food expenditure approach at the regency and city levels in Indonesia, with a particular focus on Kalimantan, the location of the new capital city, Nusantara. Further analysis explores the relationship between dietary diversity and food inflation, a key aspect of food security. The data used to develop the index is drawn from the National Socio-Economic Survey (SUSENAS) conducted by Statistics Indonesia from 2020 to 2023. Food inflation modeling was performed using the Threshold Panel Regression method on data from 90 cities. The findings suggest that concerted efforts are required to enhance food diversity in the supporting regions around IKN, particularly in South Kalimantan, which exhibits a relatively lower Simpson Index compared to other areas in Kalimantan. Moreover, the Simpson Index achievement has a significant impact on reducing food inflation rates, indicating its potential as a tool for monitoring and evaluating food price fluctuations, which are critical for maintaining economic access to national food security.
Hitting the bullseye: How does aggregate demand shape inflation targeting? Yasin, Mohammad Zeqi; Adli, Fichrie Fachrowi
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 2 (2025): August
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i2.560

Abstract

We aim to determine whether components of aggregate demand contribute to regional inflation reaching the threshold level. By using regional-level datasets of Indonesian cities from 2010 to 2023 with Logit and Tobit estimates, we reveal that the pandemic conditions influence the behaviour of aggregate demand components in achieving the inflation targeting level in cities. We show that household spending during the pandemic (in 2020 and afterwards) stimulates cities to reach the inflation targeting level. Likewise, gross fixed capital formation (GFCF) and government spending also increase the probability of the cities reaching inflation targets during the pandemic periods. However, there is no significant effect of exports during the pandemic in helping cities reach the inflation threshold. This finding is corroborated by the estimation of inflation gap reduction, where only household consumption, GFCF, and government spending contribute to the reduction of cities’ inflation gap towards the national targeting level. Our finding delivers policy implications, notably on how each city can achieve the national inflation targeting level.
Do the sticky floor and glass ceiling phenomena persist in the Indonesian labour force after the pandemic? Ruslan, Kadir; Sukma, Weni Lidya
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 2 (2025): August
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i2.567

Abstract

Our study aims to examine the evolution of gender wage gaps and their decomposition by employment status in Indonesia during the pre-pandemic, pandemic, and post-pandemic periods, using SAKERNAS data from 2018 to 2023. The OLS and RIF-OLS regression estimations reveal that gender wage gaps remained substantial throughout these periods. On average, female employees earned about 30 percent less than their male counterparts, which decreased to 23 percent after controlling for other wage-related characteristics. Notably, the gap is particularly pronounced among underemployed and low-paid workers, where female employees earn approximately 40 percent to 50 percent less than their male counterparts. Decomposition results using Blinder-Oaxaca and RIF-Oaxaca methods, both at the mean and across the wage distribution, pointed out that most of the gap is due to unexplained factors, confirming the persistence of the sticky floor and glass ceiling phenomena. This suggests ongoing negative discrimination against female employees in the Indonesian labor market. Among observable characteristics, working experience, tenure, and working hours significantly contributed to the wage gap, with women generally lagging behind men in these areas. However, women’s higher educational attainment, greater participation in the formal sector, access to training, and prevalence in white-collar jobs significantly helped reduce the wage gaps.
Digital rupiah: Are Indonesians ready? Widodo, Kharisma Dwi; Juanda, Bambang; Setyowawan, Dwi; Lutfiyah, Dinda
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 2 (2025): August
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i2.556

Abstract

Bank Indonesia has attempted to calibrate its policy approach to adopting a Central Bank Digital Currency (CBDC) called Rupiah Digital through the Garuda project, as an effort to address the issue of shadow banking that has developed into a shadow currency issue and even a shadow central banking issue. This study aims to determine the characteristics of digital banking users in Indonesia regarding the use of Central Bank Digital Currency (CBDC). This study was examined using panel data regression analysis and then confirmed using Structural Equation Model-Partial Least Structural (SEM-PLS) analysis. The results show that socioeconomics (digital use), digital literacy, digital access, and digital security influence CBDC implementation in Indonesia. Furthermore, Indonesian society is ready to accept and use CBDC (r-CBDC). However, the implementation must be gradual because socioeconomics (digital use), digital literacy, digital access, and digital security in Indonesia are not evenly distributed and are still centered on the island of Java.
Is the bank credit able to accelerate economic transformation? A multivariate modeling of key sectors in Indonesia Anam, Yongky Choirul; Lubis, Deltha Airuzsh
Jurnal Ikatan Sarjana Ekonomi Indonesia Vol 14 No 2 (2025): August
Publisher : Jurnal Ekonomi Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52813/jei.v14i2.571

Abstract

This study assess how credit provision to MSMEs by sector impacts sectoral economic growth (manufacturing, retail and wholesale trades, transportation, accommodation and food beverage providing, company services, and others services) in 34 provinces in Indonesia, using control variables (population, workforce, and digitalization), as well as dummy variables before and during the COVID-19 pandemic and the economic recovery period. The results of a multivariate regression analysis indicate that credit provision to MSMEs in a sector has a unique effect on other sectors. Interestingly, digitalization has a dominant impact on the Indonesian economy. Priority policies aimed at transforming the national and regional economies can be effectively implemented by providing capital stimulus in the form of business credit to MSMEs, particularly in Indonesia’s leading sectors, and by optimizing the development of ICT facilities and infrastructure.

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