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The Effect of Economic Stabilization Policies on Economic Growth of Selected ECOWAS Countries Shaku, Suleiman; Hilda Enoh, Olele
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 2 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i2.265

Purpose - This study aims to evaluate the effect of economic stabilization policies on the economic growth of selected ECOWAS countries, particularly focusing on the influence of interest rates, nominal exchange rates, fiscal deficits, and debt stock. Design/methodology/approach - The study employs a panel least squares estimation technique using cross-sectional data from six ECOWAS countries—Nigeria, Ghana, Guinea, Gambia, Sierra Leone, and Liberia—spanning the period from 1990 to 2023. Economic growth, proxied by gross domestic product (GDP), is analyzed against key monetary and fiscal policy variables to determine their impact. Statistical tools including panel unit root test, cointegration test, and the Hausman specification test were employed to ensure robustness. Originality - Unlike previous studies that focus on either fiscal or monetary policies separately or do not consider English-speaking ECOWAS countries in detail, this research provides a holistic analysis of economic stabilization through a combined fiscal-monetary framework. It fills a notable gap by examining the synergies and shortcomings of stabilization policies in the sub-region. Findings and Discussion - The study finds that interest rates, nominal exchange rates, and fiscal deficits have positive and statistically significant effects on economic growth in the selected countries, while debt stock has a negative and significant effect. However, individual country analyses reveal considerable variations: for example, exchange rate had the most significant impact in Nigeria and Guinea, while fiscal deficit drove growth in countries like Liberia and Sierra Leone. The debt burden in most countries counteracts growth gains, revealing risks of overreliance on borrowing. Conclusion - Economic stabilization policies in the ECOWAS sub-region have contributed to economic growth; however, the effectiveness varies across countries and policy tools. While fiscal and monetary measures have shown appreciable influence, rising debt stock threatens long-term sustainability. The study recommends prioritizing internal revenue generation to manage deficits, strengthening policy coordination, and maintaining a balance between growth stimulation and fiscal discipline.

The Role of Leadership and Self-Development on Employee Performance: The Mediating Effect of Commitment at PT XYZ Afandi; Susanty, Ade Irma
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 2 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i2.270

Purpose - This study aims to examine the influence of leadership and self-development on employee performance, with a specific focus on the mediating role of organizational commitment at PT XYZ, a leading company in the Engineering, Procurement, and Construction (EPC) sector. Design/methodology/approach - A quantitative approach was adopted, utilizing structured questionnaires distributed to 201 permanent employees. The collected data were analyzed using Structural Equation Modeling (SEM) through the SmartPLS software to test both direct and indirect relationships among leadership, self-development, commitment, and employee performance. Originality - The originality of this research lies in its integrated framework that simultaneously explores behavioral (leadership), individual (self-development), and psychological (commitment) factors affecting employee performance. This comprehensive model is especially relevant in industries experiencing strategic transformation, such as the EPC sector. Findings and Discussion - The results show that both leadership and self-development significantly and positively influence employee performance. Additionally, organizational commitment plays a crucial mediating role in strengthening these effects. All seven proposed hypotheses are statistically supported (p < 0.001), confirming both direct and indirect pathways. These findings underscore the importance of fostering effective leadership and promoting a culture of continuous personal development to enhance employee engagement and performance outcomes. Conclusion - The study concludes that effective leadership and proactive self-development efforts substantially enhance employee performance, both directly and through increased organizational commitment. These results offer practical implications for organizations to prioritize leadership development and self-learning programs as key components of talent management strategies, particularly within transformation-driven industries like EPC.

The Effect of Social Media Marketing Activities on Brand Loyalty by Examining the Mediating Roles of Brand Trust and Brand Equity at Bank Syariah Indonesia Amri, Gatot; Ariyanti, Maya
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 2 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i2.271

Purpose - This study aims to analyze the influence of social media marketing activities on brand loyalty, by considering the mediating roles of brand trust and brand equity at Bank Syariah Indonesia. The research is motivated by the phenomenon of declining brand loyalty at BSI, as evidenced by fluctuations in customer loyalty and a downward trend, particularly in the collection of third-party funds under the Wadiah scheme. Design/methodology/approach - A quantitative approach was employed using a survey method, with questionnaires distributed to 342 active BSI customers. The data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM–PLS) to assess the relationships among the variables. Originality - The results indicate that social media marketing activities do not have a significant direct effect on brand loyalty. However, they significantly influence brand trust and brand equity, which in turn enhance brand loyalty. Moreover, brand trust and brand equity were found to play strong mediating roles in strengthening the impact of social media activities on brand loyalty. Findings and Discussion - These findings indicate that effective social media management can be a key strategy in building long-term relationships with customers while enhancing trust and brand value for BSI in the Islamic banking market, both nationally and globally. Conclusion - This study also contributes theoretically to the field of digital marketing and provides practical recommendations for the development of communication strategies in Islamic banking specifically, as well as for businesses in general. Purpose - This study aims to analyze the influence of social media marketing activities on brand loyalty, by considering the mediating roles of brand trust and brand equity at Bank Syariah Indonesia. The research is motivated by the phenomenon of declining brand loyalty at BSI, as evidenced by fluctuations in customer loyalty and a downward trend, particularly in the collection of third-party funds under the Wadiah scheme. Design/methodology/approach - A quantitative approach was employed using a survey method, with questionnaires distributed to 342 active BSI customers. The data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM–PLS) to assess the relationships among the variables. Originality - The results indicate that social media marketing activities do not have a significant direct effect on brand loyalty. However, they significantly influence brand trust and brand equity, which in turn enhance brand loyalty. Moreover, brand trust and brand equity were found to play strong mediating roles in strengthening the impact of social media activities on brand loyalty. Findings and Discussion - These findings indicate that effective social media management can be a key strategy in building long-term relationships with customers while enhancing trust and brand value for BSI in the Islamic banking market, both nationally and globally. Conclusion - This study also contributes theoretically to the field of digital marketing and provides practical recommendations for the development of communication strategies in Islamic banking specifically, as well as for businesses in general.

Why Resilient Leadership Fails to Enhance Employee Performance Mujiono, Arief; Chandra Kirana, Kusuma; Hadi, Syamsul
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 2 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i2.273

Purpose - This study aims to examine the direct influence of Resilient Leadership on Employee Performance in the local public sector. Design/methodology/approach - A quantitative approach was applied, using data from 100 employees in one of the government offices in Indonesia. Data were collected through questionnaires and analyzed using Structural Equation Modeling-Partial Least Squares (SEM-PLS), which included instrument testing, model fit evaluation, hypothesis testing, and mediation. Originality - This study contributes to the field of leadership and human resource management by emphasizing the limitations of relying solely on Resilient Leadership to improve employee outcomes. Findings and Discussion - Resilient Leadership does not have a significant direct effect on Employee Performance. This indicates that the role of resilient leadership requires the support of other factors to enhance employee performance effectively. Conclusion - The study provides insights that relying solely on resilient leadership is insufficient to drive employee performance, particularly in government institutions that face structural limitations and strict regulations.

Environmental Pollution and Public Health Implications of Poor Solid Waste Management Practices in Developing Countries: Evidence from Urban Cities in Nigeria Agbeni, Kehinde Emmanuel; Ajoge, Hadiza Nuhu; Promise, Ewurum Chukwuemeka; Samuel, Sunday bakel; Evelyn, Ogegere Ogheneochukome; Franklyn, Ogegere Oghenemudiakevwe; Ojuade, Kazeem; Boahene, Bernice Asamoah
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 2 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i2.279

Purpose - This study investigates the health and environmental impacts of poor solid waste management practices in urban cities across Nigeria. It explores how increasing population and urbanization contribute to rising waste volumes and the reliance on open dumpsites, which pose serious risks to public health and the environment. Design/methodology/approach - A mixed-methods research design was adopted, combining survey questionnaires and in-depth interviews. Field data were collected from three urban areas where open dumping is common. A total of 150 questionnaires were distributed to residents living within a two-kilometer radius of the dumpsites, with 138 valid responses received (92% response rate). In addition, ten interviews were conducted with waste management officials and healthcare personnel. Data were analyzed using descriptive statistics. Originality - This study contributes to the understanding of the link between improper waste disposal and public health in the Nigerian urban context. It highlights the socio-environmental consequences of unmanaged waste and offers insights into the institutional and community-level responses. Findings and Discussion - The results reveal that existing waste management systems in Nigerian urban centers are largely ineffective. Poor waste handling practices have led to increased cases of communicable diseases such as malaria, cholera, typhoid, and diarrhea. However, the study also identifies economic opportunities in recycling and waste-related employment, if properly managed. Conclusion - The findings underscore the need for stronger public awareness, improved waste recycling infrastructure, and strict enforcement of environmental laws. A sustainable waste management strategy should combine community education with institutional reforms to reduce health risks and improve environmental quality.

Digital Transformation as a Driver of Innovative Behavior: the Mediating Roles of HR Analytics and Psychological Well-being at the Library and Archives Office of Bantul Regency Devianti, Regina; Subiyanto, Didik; Ratna Purnamarini, Tri
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 3 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i3.275

Purpose - This study aims to examine the influence of digital transformation as a driver of innovative behavior, with HR analytics and psychological well-being serving as mediating variables within the Bantul Regency Library and Archives Office. The study involved all 48 employees aged 20–50 years through direct questionnaire distribution. Data analysis was conducted using AMOS version 22 with Structural Equation Modeling (SEM), including outer model testing (validity and reliability), inner model testing (goodness-of-fit indices), and hypothesis testing. The findings indicate that digital transformation significantly influences both HR analytics and psychological well-being but does not directly affect innovative behavior. HR analytics shows no significant relationship with innovative behavior and does not mediate the effect of digital transformation. Psychological well-being, however, has a significant and positive impact on innovative behavior and serves as a partial mediator in the relationship between digital transformation and innovation. These results suggest that while technological advancement is important, its effectiveness in promoting innovation is enhanced when employee psychological well-being is also supported. This highlights the need for public institutions to integrate digital transformation strategies with initiatives that foster employee well-being, thereby cultivating a work environment that encourages innovation. Design/methodology/approach - This research uses a quantitative approach with a survey method. The population consists of all employees at the Library and Archives Office in Bantul Regency, and the study employed a saturated sampling technique, where the entire population was used as the research sample. Data were collected using Likert-scale questionnaires and analyzed using Structural Equation Modeling (SEM) with AMOS software. Validity and reliability tests were conducted to ensure the quality of the instrument, and the mediation effects were examined through bootstrapping procedures. Originality - This study provides novel insights into how digital transformation, often discussed in private sector contexts, operates in a local public government institution. It extends the literature by testing the dual mediating roles of HR analytics and psychological well-being, offering a more holistic view of innovation enablement in bureaucratic settings. Findings and Discussion - The study examined seven hypotheses to understand how digital transformation influences innovative behavior through HR analytics and psychological well-being. The results revealed that digital transformation significantly improves HR analytics and psychological well-being, but does not directly affect innovative behavior. HR analytics was not found to have a significant effect on innovative behavior, nor did it mediate the relationship between digital transformation and innovation. In contrast, psychological well-being showed a strong positive influence on innovative behavior and partially mediated the impact of digital transformation, highlighting its critical role. These findings suggest that while digital tools are essential for operational enhancement, it is the psychological state of employees that ultimately drives innovation within public institutions. Conclusion - This study concludes that digital transformation in public institutions does not directly promote innovative behavior but exerts its influence through the psychological well-being of employees. While HR analytics reflects a technological advancement in human resource management, it does not significantly contribute to fostering innovation in the observed context. In contrast, psychological well-being emerges as a key mediating factor, enabling civil servants to engage more confidently in innovative actions. These findings underscore the importance of integrating employee-centered strategies particularly those enhancing mental and emotional resilience into digital transformation initiatives. For public sector innovation to thrive, digital tools must be complemented by supportive work environments that nurture psychological health and motivation.

The Impact of Workforce Diversity and Employee Commitment on Innovation Performance Case Study: PT Taman Wisata Candi Borobudur, Prambanan, and Ratu Boko (Injourney Destination Management) Saktry, Nafido Hatmaja; Wahyuningtyas, Ratri
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 3 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i3.280

Purpose - This study aims to examine the influence of workforce diversity and employee commitment on innovation performance at Injourney Destination Management (IDM), a state-owned tourism enterprise in Indonesia. The research addresses how variations in demographic attributes and levels of commitment among employees contribute to innovation outcomes within the organization. Design/methodology/approach - A quantitative research method with a causal-descriptive design was applied. Data were collected through structured questionnaires distributed to 154 employees and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) via SmartPLS 4. Validity and reliability were tested through AVE, CR, and Cronbach's Alpha. Hypotheses were assessed using t-statistics and p-values. Originality - The novelty of this study lies in its integrated assessment of workforce diversity and employee commitment as combined predictors of innovation performance in a government-owned tourism organization. Such an approach remains relatively underexplored in the context of Indonesia’s public sector tourism industry. Findings and Discussion - The results show that both workforce diversity and employee commitment significantly and positively influence innovation performance. Workforce diversity, particularly across gender, age, ethnicity, and education, was found to foster creative outputs. Meanwhile, affective and normative aspects of commitment played a key role in strengthening employee contributions to innovation. The R² value of 0.404 and Q² value of 0.357 indicate a moderate to strong explanatory and predictive relevance of the model. Conclusion - This study concludes that diversity in the workplace and strong employee commitment are critical drivers of innovation performance. The findings underscore the need for inclusive HR practices and emotional engagement strategies to optimize innovation, especially within public-sector tourism enterprises. Future research is encouraged to explore alternative constructs and employ longitudinal methods for broader generalization.

Optimization of Stock Portfolio Investment on the IDXHIDIV20 Index Using the Single Index Model and Markowitz Model Approach for Beginner Investors Hamudin, Piko; Yunita, Irni
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 3 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i3.283

Purpose - This study investigates the construction of optimal stock portfolios using the Single Index Model (SIM) and the Markowitz Mean-Variance Model (MM), applied to the IDX High Dividend 20 (IDXHIDIV20) index. With a growing number of novice investors in Indonesia, understanding which classical model offers better guidance for dividend-oriented investing is increasingly essential. Design/methodology/approach - A descriptive quantitative approach was used, employing weekly secondary data of 20 IDXHIDIV20 constituents from 2019 to 2024. The SIM was applied through regression-based estimations and excess return-to-beta ranking, while the Markowitz Model utilized a full variance-covariance matrix with Excel Solver optimization. Originality - This research contributes empirical evidence to modern portfolio theory by comparing the effectiveness of SIM and MM in the context of novice investors in emerging markets. It also incorporates the relevance of sustainability factors through dividend strategies. Findings and Discussion - The Markowitz portfolio consistently outperforms the SIM portfolio in both return and risk dimensions, achieving an expected annual return of 23.56% with a standard deviation of 2.81%, compared to SIM's 22.96% return with 5.89% volatility. While the SIM offers practical simplicity for novice investors, the MM provides superior diversification through covariance-based optimization. These findings validate the importance of robust model selection in portfolio strategy. Conclusion - The Markowitz Model is preferable for investors with access to analytical tools and data due to its superior risk-return performance, while SIM remains a valuable approach for those with limited resources. The study enhances financial education and supports informed investment decisions for dividend-focused strategies in emerging markets.

The Influence of Occupational Stress on Turnover Intention with Perceived Labor Market Condition as a Mediating Variable at PT IMB Yogyakarta Maharani, Maharani; Hadi, Syamsul; Kirana, Kusuma Chandra
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 3 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i3.352

Purpose - This study aims to examine the influence of occupational stress on employees' turnover intention at PT IMB Yogyakarta, with perceived labor market condition as a mediating variable. Design/methodology/approach - The approach used in this study is quantitative with a survey method. The research sample consisted of 94 employees at PT IMB Yogyakarta selected using a non probability sampling.technique. Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM) with the SmartPLS software. Originality - This study contributes to the understanding of how occupational stress impacts employees' intention to leave an organization, and how perceived labor market condition plays a role in mediating that relationship, especially within the high-pressure work culture context of a private company. Findings and Discussion - The findings indicate that occupational stress has a positive and significant effect on turnover intention. However, perceived labor market condition also plays an important role by mediating the impact of stress. Employees who perceive that external job opportunities are limited may delay their resignation decisions even under stressful conditions. Conclusion - These results suggest that reducing occupational stress and improving job satisfaction are essential to retaining employees. Additionally, understanding the dynamics of perceived labor market conditions can help companies develop better HR strategies in competitive environments.

The Relationship Between the Use of Information Technology and Work Motivation on Work Productivity of Surakarta City Government Employees Rahmawati, Wiedy; Suyatno, Agus; Rahmawati, Esti Dwi
INTERNATIONAL JOURNAL OF ECONOMICS AND MANAGEMENT REVIEW Vol 3 No 3 (2025): Current issue 8
Publisher : SMARTINDO

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58765/ijemr.v3i3.354

Purpose - This study aims to examine the influence of information technology utilization and work motivation on the work productivity of civil servants at the Surakarta City Government. It emphasizes the importance of digital transformation and internal motivation in enhancing bureaucratic performance. Design/methodology/approach - This quantitative research employed a survey distributed to 100 respondents selected through cluster sampling across 10 government departments. Data were analyzed using Structural Equation Modeling (SEM-PLS) with the assistance of SmartPLS 4 software. Originality - This study contributes to the ongoing discourse on public sector digitalization by simultaneously assessing the relative influence of technology adoption and work motivation on productivity outcomes in a regional government setting. Findings and Discussion - The findings reveal that both variables significantly affect productivity. Work motivation had a stronger effect (coefficient = 0.751; p < 0.001) than information technology (coefficient = 0.154; p < 0.05). These results indicate that motivational factors are primary drivers of employee performance, while technology acts as a complementary enabler. Conclusion - The study suggests the need for dual-strategy implementation: strengthening internal motivation through supportive policies and improving technology adoption via training and user-centered design to optimize productivity gains in public services.

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Contact Name
Auliya Rosiana

Contact Email
ijemr@smartindo.org

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+6281386831183

Journal Mail Official
ijemr@smartindo.org

Editorial Address
Jl. Kenari No.44A, Muja Muju, Kec. Umbulharjo, Kota Yogyakarta, Daerah Istimewa Yogyakarta 55165

Location
Kota yogyakarta,

Daerah istimewa yogyakarta

INDONESIA

Abstract

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Abstract

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Auliya Rosiana

Contact Email ijemr@smartindo.org

Phone +6281386831183

Journal Mail Official ijemr@smartindo.org

Editorial Address Jl. Kenari No.44A, Muja Muju, Kec. Umbulharjo, Kota Yogyakarta, Daerah Istimewa Yogyakarta 55165

Location Kota yogyakarta, Daerah istimewa yogyakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Auliya Rosiana

Contact Email
ijemr@smartindo.org

Phone
+6281386831183

Journal Mail Official
ijemr@smartindo.org

Editorial Address
Jl. Kenari No.44A, Muja Muju, Kec. Umbulharjo, Kota Yogyakarta, Daerah Istimewa Yogyakarta 55165

Location
Kota yogyakarta,

Daerah istimewa yogyakarta

INDONESIA