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Contact Name
Ladi Wajuba Perdini Fisabilillah
Contact Email
ladifisabilillah@unesa.ac.id
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ladifisabilillah@unesa.ac.id
Editorial Address
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INDONESIA
Journal of Economics
ISSN : -     EISSN : 27985008     DOI : http://doi.org/10.26740/independent
Core Subject : Economy,
The scope of Independent: Journal of Economics are strictly but not limited to: Economics Development Economics Monetary Economics Public Economics Institutional Economics
Articles 225 Documents
Determinan Status Pekerjaan Berdasarkan Tingkat Upah di Indonesia Ayu Padila; Kukuh Arisetyawan
Jurnal Ekonomika : INDEPENDEN Vol 5 No 3 (2025): Desember 2025
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/independent.v5i3.74218

Abstract

Job quality is a central concern in Indonesia’s labor development as the dominance of informal employment and wage inequality suggest that job creation has not always been accompanied by improvements in job quality. This study examines the determinants of employment status by wage level by classifying workers into three categories: informal (base outcome), low-wage formal, and high-wage formal. Using Indonesia’s National Labor Force Survey (SAKERNAS) 2023, the analysis covers 508,340 working-age individuals (≥15 years) with complete information. A multinomial logistic regression is employed and interpreted using average marginal effects. The results indicate that being male, having secondary and especially tertiary education, residing in urban areas, and working full-time increase the probability of high-wage formal employment. Persons with disabilities and part-time workers are less likely to access high-wage formal jobs and are more likely to remain in informal employment. Age exhibits a non-linear (inverted U-shaped) pattern, while the previous sector reflects labor market segmentation and skill mismatch. In conclusion, labor policy should prioritize not only job expansion but also job-quality upgrading through education, relevant skill development, inclusive formal job creation, and more even regional opportunities.
Analisis Perbandingan Kinerja Risiko-Return Indeks Saham di Kawasan ASEAN: Studi pada Indonesia, Malaysia, dan Singapura RINAIMA, CHETRINE ALYA; Siddiq, Akhyar; Furoida, Aini Nur
Jurnal Ekonomika : INDEPENDEN Vol 5 No 3 (2025): Desember 2025
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/independent.v5i3.74284

Abstract

Penelitian ini bertujuan untuk menganalisis dan membandingkan kinerja risiko-return indeks saham utama di kawasan ASEAN, yaitu Jakarta Composite Index (JCI), Kuala Lumpur Composite Index (KLCI), dan Straits Times Index (STI) selama periode 2017–2023. Analisis dilakukan menggunakan pendekatan risk-adjusted return melalui Sharpe Ratio, Treynor Ratio, dan Jensen’s Alpha untuk menangkap perbedaan kinerja berdasarkan total risiko dan risiko sistematis. Data yang digunakan merupakan data sekunder berupa return indeks pasar dan tingkat pengembalian bebas risiko yang dianalisis dengan metode kuantitatif deskriptifkomparatif. Hasil penelitian menunjukkan bahwa indeks STI memiliki kinerja risiko-return yang paling konsisten dan efisien, terutama pada periode krisis dan pemulihan ekonomi. Indeks JCI menunjukkan kinerja yang cukup kompetitif pada fase pemulihan, namun belum konsisten dalam menghasilkan abnormal return setelah disesuaikan dengan risiko sistematis. Sementara itu, indeks KLCI secara umum menunjukkan kinerja risiko-return yang relatif lemah dan kurang stabil sepanjang periode penelitian. Temuan ini mengindikasikan bahwa perbedaan karakteristik dan efisiensi pasar memengaruhi kualitas kinerja investasi di kawasan ASEAN.
Analisis Faktor Makroekonomi Terhadap Pertumbuhan Perekonomian Di Indonesia Prayitno, Andaru Rachmaning Dias; Muh. Imaduddin Akbar; Maula Fadhilata Rahmatika
Jurnal Ekonomika : INDEPENDEN Vol 5 No 3 (2025): Desember 2025
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/independent.v5i3.74303

Abstract

This study aims to analyze the influence of key macroeconomic factors, namely interest rate (BI Rate), Rupiah/USD exchange rate, and inflation on Indonesia's economic growth during the 2011–2019 period. The research method used is quantitative with a linear regression analysis approach using quarterly time-series data. The model was estimated using the Ordinary Least Squares (OLS) method after passing classical assumption tests. The results show that simultaneously, all three variables have a significant effect on economic growth. However, partially, only interest rate and exchange rate show significant negative impacts, where a 1% increase in each variable reduces economic growth by 0.13% and 2.06%, respectively. Inflation has no significant effect, likely due to its relative stability during the observation period. The study concludes that interest rate and exchange rate are consistent macroeconomic factors influencing Indonesia's economic growth performance before the pandemic period.
Determinasi Tingkat Pengangguran Terbuka di Kabupaten/Kota Provinsi Jawa Timur Tahun 2022 –2024 hamda el ramadani poetra; Muthia Rahma Fadhilah
Jurnal Ekonomika : INDEPENDEN Vol 5 No 3 (2025): Desember 2025
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/independent.v5i3.73829

Abstract

This study analyzes the effect of Regional Gross Domestic Product (RGDP), Human Development Index (HDI), and Regional Minimum Wage (UMR) on the Open Unemployment Rate (TPT) in districts/cities in East Java Province during the period 2022–2024. The study uses secondary data from the Central Statistics Agency (BPS) and the Ministry of Manpower with a panel data regression method. The model selection was carried out through the Chow Test, Lagrange Multiplier (LM) Test, and Hausman Test, which consistently showed that the Fixed Effect Model (FEM) was the best model. The FEM estimation results with robust standard error show that GRDP and minimum wage have a negative and significant effect on TPT, while HDI has a negative but insignificant effect. The regional status variable was not estimated in the model because it is time-invariant. The R-squared value of 0.593 indicates that the model is able to explain 59.3% of the variation in TPT. These findings indicate the importance of economic growth, effective wage policies, and improving the quality of human resources relevant to labor market needs in efforts to reduce unemployment in East Java.
Efisiensi Alokasi Sumber Daya Sektor Kesehatan di Provinsi Jawa Barat Tahun 2023 Fernando, Billy; Hakim, Arif Rachman; Indahwati, Indahwati
Jurnal Ekonomika : INDEPENDEN Vol 5 No 3 (2025): Desember 2025
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This empirical study aims to measure the level of technical efficiency in resource allocation within the health sector, including Health Expenditure, Health Personnel, and Hospitals, in converting this investment into human development outcomes, namely Life Expectancy (AHH) and the Human Development Index (IPM), across 27 Districts/Cities in West Java in 2023. The research evaluates fiscal decentralization policies and validates the Human Capital Theory. The methodology employed a quantitative, analytical descriptive approach, utilizing the non-parametric Data Envelopment Analysis (DEA), specifically the Input Oriented CRS Model, with all 27 Districts/Cities designated as Decision Making Units (DMU). DEA results indicate that the majority of DMUs in West Java operate at an inefficient level (theta < 1). Only Tasikmalaya and Pangandaran Districts were declared absolutely efficient, while Subang District, Tasikmalaya City, and Cimahi City were identified as the most technically inefficient units. Slack Analysis provided tangible evidence that the primary source of inefficiency is rooted in significant input overuse (Islack), especially in Health Expenditure. In conclusion, the technical inefficiency in West Java is a persistent and structural resource management problem, necessitating a necessary shift in managerial focus from absolute input fulfillment toward optimizing input conversion.