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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,
Economics, Econometrics & Finance
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.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 184 Documents
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Dampak faktor-faktor makroekonomi terhadap tingkat pengangguran di Provinsi Bali tahun 2020-2024 Putri Desika Ayu; I Made Sara; Dewa Putu Yudi Pardita
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.v6i1.3081

Abstract

Open unemployment remains a major challenge in regional economic development, particularly in Bali Province, which heavily depends on the service and tourism sectors. This study aims to analyze the impact of Gross Regional Domestic Product, Minimum Wage by Regency/City, and Labor Force Participation Rate on the open unemployment rate in regencies/cities of Bali Province during the period 2020–2024. The study employs a quantitative, panel-data regression approach using secondary data from the Central Statistics Agency. The results show that all variables have a significant effect on the open unemployment rate simultaneously. Partially, Gross Regional Domestic Product has a negative but insignificant relationship, while the Minimum Wage by Regency/City has a negative and significant effect. The Labor Force Participation Rate also has a negative but insignificant effect. These findings indicate that economic growth in Bali has not been fully inclusive in generating employment, while minimum wage policies and increased labor force participation help reduce unemployment. The implications highlight the importance of policies that promote more inclusive economic growth, strengthen labor-intensive sectors, and improve workforce quality to support sustainable employment absorption.
Analisisi perbedaan abnormal return dan trading volume terhadap pergantian menteri keuangan activity: Studi peristiwa pada saham perbankan dan energi Sulistio Murti Mulyono; Tita Nurvita
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.3027

Abstract

Political events, particularly those related to changes in strategic economic positions, often attract investor attention due to their potential to influence economic stability and the direction of a country’s policy. The replacement of the Minister of Finance, as the primary authority in fiscal policy, can trigger market reactions reflected in stock price movements and trading activity. Previous studies have shown that political events and government policies can elicit significant market responses, including abnormal returns and changes in trading volume. In this context, this study analyzes the reaction of the Indonesian capital market to the announcement of the replacement of the Minister of Finance on September 8, 2025, focusing on stocks in the banking and energy sectors. This study employs a quantitative approach using an event study method with an observation window of 31 trading days, consisting of 15 days before, 1 day during, and 15 days after the event, using daily stock prices and trading volume data. The analysis compares conditions before and after the event using nonparametric statistical methods. The results indicate that there is no significant difference in abnormal returns between the two sectors; however, the banking sector shows a significant increase in trading volume. These findings suggest that the market responds more to political events through changes in trading activity rather than abnormal returns.
Analisis kebijakan ekonomi digital indonesia dalam mendukung pembangunan berkelanjutan: Perspektif inklusi digital dan transformasi UMKM Ridha Ramadhany; Abdul Halim; Sri Mujiarti Ulfah; Murraya Putri Palupi; Aditia Pebrian
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.v6i1.3082

Abstract

This study aims to analyze digital economic policies in Indonesia from a sustainable development perspective using a systematic literature review. The results show that digital economic policies contribute to economic growth by strengthening digital infrastructure, digitizing MSMEs, and increasing financial inclusion. However, the impact is still dominated by economic aspects rather than social and environmental dimensions. This study identifies the digital divide between regions and introduces the concept of the digital inclusion paradox, a condition where policies designed to expand access actually have the potential to create new exclusions due to limited access, digital literacy, and technological adaptation capacity. Furthermore, a gap was found between policy objectives and their implementation, particularly regarding the equitable distribution of benefits, governance, and integration of environmental aspects. These findings emphasize that digital transformation does not always result in equitable inclusion, thus requiring more integrated, inclusive, and sustainable policies to support equitable development in Indonesia.
Ekspor teknologi tinggi, PMA dan pengendalian korupsi dalam dinamika kompleksitas ekonomi Indonesia Rona Hinirim Gultom; Joko Suharianto
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.3124

Abstract

This research explores the determinants shaping Indonesia's economic complexity index between 1998 and 2024, specifically examining three critical variables: technologically advanced product exports, incoming foreign capital investments, and governmental anti-corruption measures. Employing a quantitative analytical framework, the study utilizes secondary time-series data analyzed through the Error Correction Model methodology, enabling distinction between immediate and sustained economic dynamics. Empirical findings reveal nuanced patterns across different temporal horizons. Technologically sophisticated exports demonstrate statistically insignificant immediate effects but emerge as robust positive contributors over extended periods. Foreign capital inflows, conversely, exhibit no meaningful statistical association with the complexity index across both short-term and long-term frameworks. Anti-corruption governance initiatives consistently prove their significance, displaying positive statistical relationships regardless of temporal scope. The collective analytical power of these three determinants demonstrates substantial explanatory capacity, jointly accounting for significant variations in Indonesia's economic complexity measurement across both analytical timeframes. These results underscore the differential temporal impacts of technological advancement, capital mobility, and institutional quality on economic sophistication within developing economies.
Analisis struktur ekonomi daerah berbasis pertambangan: indikasi enclave economy di Kabupaten Sumbawa Barat Faizatul Amala; Aheruddin Aheruddin
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.3130

Abstract

West Sumbawa Regency has an economic structure that is highly dependent on the mining sector, with an average contribution of 65–82% to the GRDP during the 2010–2023 period. This study aims to identify base sectors, analyze regional competitiveness, examine indications of an enclave economy, and determine potential sectors for post-mining economic diversification. The method used is a quantitative descriptive-analytical approach by utilizing secondary data of sectoral GRDP for 2010–2023. The analysis was conducted using Location Quotient (LQ), Shift-Share, Esteban-Marquillas, Overlay Analysis, and Klassen Typology. The results show that the mining sector is the main base sector with an LQ value of 4.67. Shift-Share analysis indicates that the construction, agriculture, and transportation sectors have relatively high competitive advantages. Meanwhile, Esteban-Marquillas' analysis shows that the mining sector is in a decline phase characterized by negative Competitive Effect and Allocation Effect values. Klassen Typology shows that there are no sectors in Quadrant I, thus reflecting weak economic diversification. These findings indicate strong enclave economy characteristics with still low sectoral linkages to regional economic transformation.
Pengaruh strategi kanal digital terhadap kinerja UMKM e-commerce di Indonesia: Analisis regresi logistik Gilang Aldi Satria; Nur Andriyani
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.3209

Abstract

This study aims to analyze the determinants of e-commerce MSME performance in Indonesia by emphasizing the role of digital channel strategy, internal business capacity, and geographical location factors. The study uses cross-sectional secondary data from the 2023 E-commerce Survey conducted by Statistics Indonesia, covering 35,543 e-commerce MSMEs. Binary logistic regression was employed to examine the effects of marketplace usage, digital capability, information technology training, education, Java location, and the interaction between marketplace usage and location on the probability of increased business income. The results show that marketplace usage has no significant effect on the probability of improved business performance. In contrast, digital capability, information technology training, and education have positive and significant effects on the probability of increased business income. Business location in Java negatively affects the probability of performance improvement. Furthermore, the interaction between marketplace usage and Java location has a significant negative effect, indicating that the benefits of marketplace utilization in Java are lower than outside Java due to higher digital market competition. These findings suggest that the performance improvement of digital MSMEs is determined more by the internal capacity of business actors than by the type of digital channel used.
Circular economy approach: A sustainable business model in transforming farmers’ livelihoods Fajar Purwanto; Soesanto Soesanto; Sari Rahayu; Zenita Afifah Fitriyani; Dimas Ganda Permana Putra
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.2971

Abstract

The transition toward a circular economy in agriculture is essential for improving resource efficiency, reducing waste, and strengthening farmers’ livelihoods. This study aims to formulate a sustainable business model based on a circular economy approach to support the transformation of farmers’ livelihoods. A qualitative descriptive case study was conducted using interviews, focus group discussions, field observations, and secondary data. The data were analyzed using SWOT, IFAS–EFAS, and TOWS matrices to identify internal and external strategic factors. The IFAS results show that strengths exceed weaknesses, with a difference of 0.415, while the EFAS results indicate that opportunities exceed threats, with a difference of 0.414. These findings place the farmers’ business position in the aggressive or SO quadrant. The key strategic insight is that farmers should prioritize market expansion for organic products, technology adoption, product differentiation, stronger partnerships, and research collaboration while gradually improving post-harvest processing, packaging, human resource regeneration, and access to financing. A circular economy-based sustainable business model is feasible for transforming farmers’ livelihoods by improving cost efficiency, product quality, supply stability, market access, and business resilience.
Digital financial innovation and MSMES’ sustainable performance in developing countries: A prisma-based systematic review Eka Yuliyanti; Anis Turmudhi; Tri Sumiyanti; Azis Nur Rosyid; Zati Rizka Fadhila
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.3041

Abstract

MSMEs play a vital role in economic growth and job creation in developing countries, yet they still face numerous challenges that can be addressed through digital financial innovation, although evidence on their impact on sustainable performance remains fragmented and not yet comprehensively integrated. This study presents a PRISMA-based systematic literature review of 40 studies retrieved from Web of Science and Scopus (2020–2025). The selected studies were synthesized using thematic content analysis to identify dominant theoretical foundations, methodological approaches, and contextual factors. The findings show that digital financial innovation improves MSME performance through enhanced financial inclusion, operational efficiency, and business resilience. However, the magnitude of these effects varies across countries due to differences in digital infrastructure, regulatory environments, and digital literacy levels. Cross-sectional designs dominate the literature, while longitudinal evidence remains limited. Overall, institutional and infrastructural readiness is a key determinant of the effectiveness of digital financial innovation in supporting MSME sustainability.
Tracing the economic valuation of Mount Merbabu National Park: Benefit transfer method Luthfi Alif Dinar Choirunnisa; Arkanudin Rizki Permono; Dio Caisar Darma; Dodi Tirtana
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.2857

Abstract

Natural resource management problems occur because the value of environmental services is often ignored compared to economic commodities, thus increasing pressure and degradation on the National Park forest area. This study analyzes the economic valuation of Mount Merbabu National Park to determine its estimated Total Economic Value (TEV), comprising direct use value (timber, non-timber products, water consumption), indirect use value (soil and water conservation, carbon sequestration, flood prevention, water transportation, and biodiversity), and non use value (option and existence value) as a quantitative basis for sustainability planning. The novelty of this study lies in the first application of the benefit transfer method to Mount Merbabu National Park, transferring reference values from the Food and Agriculture Organization (2009) report on Indonesian Conservation Forests by adjusting for an average inflation rate of 5.28% over the 23 years (2002–2025) and scaling to the park’s specific area of 5,820.49 ha. The findings estimate the 2025 economic value of the park at 82,894.81 US$/ha. Notably, Use Value dominates this figure at 77,382.23 US$ / ha, driven primarily by water consumption (32,795.54 US$/ha) and flood prevention (16,383.93 US$/ha), highlighting the vital role of direct and indirect ecological functions for the surrounding community.
Ketimpangan pendapatan antarwilayah di Jawa Timur: Peran pertumbuhan ekonomi, belanja daerah, IPM, dan upah minimum Ariyani Nurul Fadilah; Marseto Marseto
Journal of Economics Research and Policy Studies Vol. 6 No. 2 (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.v6i2.3107

Abstract

Income inequality between regions in East Java Province remains an obstacle to equitable development even though economic growth continues to increase, indicating that economic progress is not evenly distributed across the region. The present study examined the extent to which economic growth, regional fiscal expenditure, the Human Development Index, and district-level minimum wages influence income inequality across regencies and municipalities in East Java Province. Income inequality was measured using the Williamson Index. The study employed a quantitative approach with a panel data regression method based on balanced panel data covering 38 districts and cities during the 2020–2024 period, resulting in 190 observations. Empirical results revealed that economic growth and minimum wage both exerted a statistically significant positive influence on income inequality. In contrast, greater allocation of regional fiscal expenditure and improvements in human development were found to serve as effective mechanisms in narrowing interregional income disparities within East Java Province.

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