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Contact Name
Mohammad Rofiuddin
Contact Email
nurscienceinstitute@gmail.com
Phone
+6285727325650
Journal Mail Official
journal.jerps@gmail.com
Editorial Address
Nur Science Institute Jl. Abdul Majid Cabean Mangunsari Sidomukti, Salatiga, Jawa Tengah
Location
Kota salatiga,
Jawa tengah
INDONESIA
Journal of Economics Research and Policy Studies
Published by Nur Science Institute
ISSN : -     EISSN : 27978141     DOI : https://doi.org/10.53088/jerps
Core Subject : Economy,
Journal of Economics Research and Policy Studies [2797-8141] is a scientific journal that contains the results of theoretical research and studies on economics issues. The focus of this journal article is Economics, Economic Entrepreneurship, and start-up, development economics, monetary and fiscal policies, Islamic finance, international and regional economics, institutional economics, and tourism economics, agriculture economics, labor economics, behavioral economics, environmental economics, SMEs financing, feasibility studies, community empowerment, coastal economics, Islamic economics, Cognitive economics, Law and Economics, Social and Economic Statistics, Econophysics, Economics of Entrepreneurship, and Political Economics.
Articles 184 Documents
Ecotourism development at Candi Gedong Songo: A contingent valuation method approach Muhammad Adi Adrian; Sucihatiningsih Dian Wisika Prajanti; Saifudin Zuhri
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.2697

Abstract

Tourism provides both direct economic benefits and multiplier effects for other sectors of society. However, the management of Gedong Songo Temple, which focuses on increasing tourist numbers, tends to ignore the external impacts on the preservation of cultural heritage and the environment, necessitating a focus on sustainability principles. This study aims to determine the willingness to pay of tourists for the sustainable development of Gedong Songo Temple as a tourist attraction. Primary data was obtained based on interviews and questionnaires with 109 tourist respondents who visited Gedong Songo Temple. Respondents were selected using purposive sampling, and the analysis was conducted statistically using CVM. The results of this study show that according to the contingent valuation method, 98 of the 109 tourist respondents are willing to pay more for the development of the Gedong Songo Temple tourist attraction, with an average WTP value of IDR 28,000 per tourist and a total willingness to pay per year for the Gedong Songo Temple tourist attraction of IDR 7.9 billion. These results confirm that tourists appreciate conservation efforts, facility improvements, and increased comfort when visiting the Gedong Songo Temple tourist attraction.
Analisis ekonomi inklusif di Provinsi Kalimantan Barat dan Kalimantan Timur menggunakan data panel Ahmad Fahri Umardani
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.2737

Abstract

The purpose of this study is to analyze the effects of the Human Development Index (HDI), Domestic Investment, Open Unemployment Rate, electricity access, and internet access on the Inclusive Economic Development Index (IEDI) in West Kalimantan and East Kalimantan Provinces. The study employs panel data at the district/city level covering the period 2018–2022, sourced from Statistics Indonesia and the National Development Planning Agency (BAPPENAS). Panel data regression is applied as the analytical method. The results indicate that in West Kalimantan, HDI, electricity access, and internet access have positive and significant effects on inclusive economic development. Meanwhile, in East Kalimantan, HDI shows a positive and significant effect, whereas the open unemployment rate significantly affects inclusive economic development. These findings suggest that the determinants of inclusive economic development vary across regions. Therefore, development policies should be region-specific, focusing on improving human capital quality, expanding access to basic infrastructure, and addressing labor market issues in order to promote more inclusive and sustainable economic growth.
Islamic human development index berbasis maqāṣid syarī’ah dan determinan ekonomi di negara-negara muslim Syahruddin Kadir; Murtiadi Awaluddin; Alim Syariati
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.2776

Abstract

The Human Development Index developed by the UNDP is considered insufficient for measuring development in Muslim countries because it does not incorporate an Islamic perspective, particularly the dimensions of religion and socio-economic ethics. Therefore, this study uses the Islamic Human Development Index (I-HDI) as a more comprehensive alternative measure of human development, which is derived from the five dimensions of maqāṣid syarī’ah, namely religion (dīn), life (nafs), reason (‘aql), offspring (nasl), and wealth (māl). This study aims to analyze the effects of foreign direct investment, remittances, and unemployment on the I-HDI in Muslim countries, and to examine the moderating role of political stability. The methods used are multiple linear regression with the Generalized Method of Moments (GMM) and Moderated Regression Analysis (MRA) approaches. The results show that foreign direct investment and remittances have a significant positive effect on Islamic human development, while unemployment has a significant negative effect. In addition, political stability is a clear moderator that can strengthen the relationship between economic determinants and the Islamic Human Development Index in Muslim countries.
Desentralisasi fiskal dan pengaruhnya terhadap kinerja penyerapan belanja daerah di Indonesia Tomi Setiawan; Muhammad Farras Samith; Muhammad Hammam Mughits; Shifwah Murran Nashifa
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.3015

Abstract

This study examines the effect of fiscal decentralization on regional budget absorption performance in Indonesia, using panel data from 34 provinces for 2021–2023. The analysis method employed is fractional probit regression with the Mundlak approach, along with a robustness test using Quasi Maximum Likelihood Estimation (QMLE). The results indicate that fiscal decentralization, both in revenue and expenditure, has a positive, statistically significant impact on the probability of regional budget absorption. Regions with higher fiscal autonomy and higher expenditure-to-revenue ratios tend to exhibit better budget absorption performance. In addition, fiscal independence also contributes positively to expenditure absorption. Simultaneously, several control variables, such as population growth, show a positive effect, while others, including the unemployment rate, GRDP per capita, and population density, have a significant negative impact. These findings emphasize the importance of strengthening local fiscal capacity and regional institutional quality to improve budget management effectiveness and ensure the successful implementation of fiscal decentralization.
Pasar rasulan sebagai ekosistem ekonomi kegiatan budaya desa: Perputaran uang, modal sosial, dan tata kelola berkelanjutan di Semanu, Gunungkidul Fetria Eka Yudiana; Heri Kurniawan
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.2755

Abstract

Rasulan in Gunungkidul is commonly understood as a village thanksgiving tradition, yet its economic role has not been sufficiently examined. This study revises the reading of Rasulan from a cultural ceremony into a temporary village-event economy, here conceptualized as Pasar Rasulan. Data were collected through semi-structured interviews, observation, and event-related documents, then analyzed using thematic analysis. The findings show that Rasulan generates multiple channels of local economic circulation. The organizer's budget exceeded Rp60 million; identified rental spending reached Rp24.55 million; parking revenue was at least Rp6.5 million; committee consumption spending reached Rp7.5 million; and documented average vendor revenues varied across food vendors, toy sellers, snack sellers, and other micro-traders. Household spending during the main day also created local demand through food preparation and guest hosting. Beyond these transactions, social capital shaped coordination, access to selling opportunities, and the community's ability to mobilize assets such as land, labor, and trust. The study contributes by mapping the micro-mechanisms of a village cultural event and showing that sustainable governance, transparent record-keeping, local procurement, vendor arrangements, and waste management are required if Rasulan is to become a more accountable instrument of community-based local economic strengthening.
Green bonds under financial stress Ichwan Ichwan; Taufiq C. Dawood; Zia Thahira; Wisnu Satria; Mirzatul Kadri
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.2866

Abstract

This study analyzed the relationship between financial stress and green bond issuance using a balanced panel of ten countries over the 2018 to 2023 period. A two-way fixed effects panel regression was employed to control for unobserved country specific and time specific factors. The findings showed that higher financial stress was associated with increased green bond issuance, indicating that green bond markets remained active during periods of financial pressure. GDP and domestic credit to the private sector also exhibited positive and statistically significant relationships with green bond issuance, highlighting the importance of macroeconomic capacity and financial intermediation. Inflation, by contrast, displayed a positive but statistically insignificant association. Additional analysis revealed no meaningful differences between advanced and non-advanced economies, and robustness checks confirmed the stability of the findings. Overall, the results suggested that green bonds represented a relatively resilient financing instrument under varying financial conditions and underscored the importance of supportive policy frameworks in fostering green bond market development.
What drives fossil fuel consumption in Indonesia? Evidence from a macroeconomic perspective Kamal Fachrurrozi; Aliasuddin Aliasuddin; Wisnu Satria; Mirzatul Kadri; Ichwan Ichwan
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.2969

Abstract

Fossil fuels play a crucial role in economic activity in developing countries, including Indonesia. Currently, fossil fuels dominate and serve as the primary energy source, accounting for approximately 80% of the country's energy needs. Amidst fluctuating macroeconomic dynamics, fossil fuel consumption has experienced a significant increase. In this paper, we investigate the effects of macroeconomic indicators, namely economic growth, urbanization, and trade openness, on fossil fuel consumption in Indonesia. The study uses data from 1990 to 2024 sourced from Our World in Data and the World Bank. The analysis used multiple linear regression to examine the influence between variables, along with classical assumption tests. The study found that economic growth had a positive and significant effect. Urbanization had a positive and significant effect. Trade openness was also found to have a positive and significant effect on fossil fuel consumption. The largest increase in fossil fuel consumption was driven by urbanization. These findings have important implications for the formulation of future energy policies.
Strategi pembangunan ekonomi daerah berbasis pemetaan sektor unggulan: Analisis LQ, DLQ, dan tipologi klassen di Kabupaten Tanah Bumbu La Ode Muhammad Iksan Yusuf; Regina Regina; Irwandi Irwandi; Arsianita Nur Fattah; Sarinah Sarinah
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.3025

Abstract

This study aims to identify leading and prospective economic sectors and analyze their positions within the economic structure of Tanah Bumbu Regency, using Gross Regional Domestic Product (GRDP) data for 2020–2024. The analytical methods used include the Location Quotient (LQ), the Dynamic Location Quotient (DLQ), and the Klassen Typology. The results show that the agriculture, forestry, and fisheries sectors, as well as mining and quarrying, are basic sectors with LQ values> 1, indicating comparative advantage and significant contributions to the regional economy. DLQ analysis identifies six sectors with growth prospects: agriculture, mining, manufacturing, electricity and gas procurement, information and communication, and government administration. Meanwhile, the trade, construction, and transportation sectors show relatively low growth prospects. Based on the Klassen Typology, the leading sectors are categorized as advanced and growing rapidly, while the other sectors are categorized as potentially developing or lagging. These findings form the basis for formulating more targeted and sustainable economic development policies.
Eksplorasi resiliensi ekonomi perspektif islam: Tinjauan literatur terpilih Muhammad Arfan Harahap; Julfan Saputra
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.3040

Abstract

This study introduces and develops Islamic perspective economic resilience as a new concept specific to the discipline of Islamic economics through a review of selected literature. Through a Systematic Literature Review (SLR) guided by the PRISMA protocol, 62 selected articles published between 2020 and 2026 were analyzed from the Scopus and dan google scholar database. This analysis synthesizes insights from the selected literature to identify the meaning of the Islamic perspective on economic resilience and to develop the concept. The concept of Islamic perspective economic resilience positions the mechanism of spirituality as the main foundation for constructing economic resilience by incorporating patience and istirja' as instruments. By integrating economic and spiritual elements, this concept offers a more coherent explanation of how individuals are economically resilient. In addition, this study maps new directions for future research and provides a geographic analysis of the literature. This study provides a concept of economic resilience that can be adopted to support sustainable welfare and offers practical implications for developing an index of economic resilience.
Analisis struktur, perilaku, dan kinerja pasar dalam sistem pemasaran garam rakyat di Desa Pangarengan Moh. Ofar; Septian Eko Haryansyah; Rosi Efendi
Journal of Economics Research and Policy Studies Vol. 6 No. 1 (2026): Journal of Economics Research and Policy Studies
Publisher : Nur Science Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53088/jerps.v6i1.3044

Abstract

This study aims to analyze the marketing of folk salt in Aengsareh Village, Sampang District, Sampang Regency. The primary focus of the research is to identify the forms of marketing channels, market structure, market behavior through vertical price integration, and market performance. The research employed both qualitative and quantitative methods, using Multistage and Snowball Sampling for data collection. The results indicate that there are two types of marketing channel patterns in the area: one-level and two-level channels. The market structure for salt at both the farmer and middleman levels tends toward imperfect competition, specifically a monopolistic market. Based on the vertical market integration analysis, it was found that perfect price integration between the farmer and processing plant levels does not occur for all salt qualities (Qualities 1, 2, and 3). This condition is attributed to the government's minimal role in price supervision and to limited access to market information for salt farmers. Market performance analysis shows that the existing marketing channels are logical and profitable for marketing institutions, as the profit share exceeds the cost share. However, the largest distribution of marketing margins and profit shares is enjoyed by the factory-level marketing institutions, while salt farmers receive a relatively small price share.