cover
Article Per Year (5 Year)
All
Home Page
OAI Link
Editorial Team
Contact
Reviewer
Google Scholar
Contact Name
Andri Putra Kesmawan
Contact Email
andriputrakesmawan@gmail.com
Phone
+6281990251989
Journal Mail Official
journal@idpublishing.org
Editorial Address
Jl. Sidorejo Gg. Sadewa No.D3, Sonopakis Kidul, Ngestiharjo, Kapanewon Kasihan, Kabupaten Bantul, Daerah Istimewa Yogyakarta 55184
Location
Kab. bantul,
Daerah istimewa yogyakarta
INDONESIA
Journal of Macroeconomics and Social Development
Published by Indonesian Journal Publisher
ISSN : -     EISSN : 30262887     DOI : https://doi.org/10.47134/jmsd
Core Subject : Economy,
Economics, Econometrics & Finance
Journal of Macroeconomics and Social Development (3026-2887) publishes original research that examines the interactions between macroeconomic and social policies and their impact on economic growth, development, and social welfare. The journals scope includes a wide range of topics, such as: Macroeconomic theory and policy Economic growth and development Poverty and inequality Labor markets and social security Education and health care Environmental economics International trade and finance The journal welcomes submissions from a wide range of disciplines, including economics, sociology, political science, and public policy. The journal is committed to publishing high-quality research that is relevant to policymakers, academics, and the general public.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 47 Documents
 1   2   3   4   5 
The Impact of Inflation, World Oil Prices, and the Rupiah Exchange Rate on Sectoral Stock Index Returns in the Indonesia Stock Exchange Arifin, Arya Firma; Ababil, Maulana Ikhrom; W, Rafif Putra; Peri, Leonardus Reynhard; Pandin, Maria Yovita R.
Journal of Macroeconomics and Social Development Vol. 3 No. 2 (2025): December
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jmsd.v3i2.1002

Abstract

This study examines the effects of inflation (X1), global crude oil prices (X2), and the rupiah exchange rate (X3) on sectoral stock index returns (Y) in the energy sector listed on the Indonesia Stock Exchange. This research employs a quantitative approach using secondary data obtained from Bank Indonesia, the Indonesia Stock Exchange, and Investing.com over a five-year period. Multiple linear regression analysis was conducted using SPSS to evaluate both partial and simultaneous effects of the independent variables on stock index returns. The results show that inflation has a negative but statistically insignificant effect on sectoral stock index returns, while global crude oil prices exhibit a positive yet insignificant influence. In contrast, the rupiah exchange rate has a positive and statistically significant effect on sectoral stock index returns. These findings indicate that exchange rate movements play a dominant role in explaining return variability in the energy sector. Therefore, investors and policymakers should pay close attention to exchange rate stability when making investment and economic policy decisions.
The Effect of the General Allocation Fund (DAU), Special Allocation Fund (DAK), and Revenue Sharing Fund (DBH) on the Human Development Index (HDI) in Surabaya City Maulana, Muhammad; Priyono, Joko
Journal of Macroeconomics and Social Development Vol. 3 No. 3 (2026): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jmsd.v3i3.1060

Abstract

This study aims to analyze the effect of the General Allocation Fund (DAU), the Special Allocation Fund (DAK), and the Revenue Sharing Fund (DBH) on the Human Development Index (HDI) in Surabaya City during the period 2010–2024. A quantitative approach was employed using a multiple linear regression method based on secondary time-series data obtained from official government institutions. The results indicate that DAU, DAK, and DBH simultaneously have a significant effect on the Human Development Index. Partially, the Special Allocation Fund exhibits the strongest and most significant influence, reflecting its targeted allocation toward basic public service sectors, particularly education and health. The General Allocation Fund also has a positive and significant effect by strengthening overall regional fiscal capacity to support public service provision. In contrast, the Revenue Sharing Fund shows a positive but statistically insignificant effect on the Human Development Index. These findings suggest that improving human development outcomes in Surabaya City requires more targeted, effective, and equitable management of intergovernmental transfer funds, with a stronger emphasis on enhancing the quality of basic public services.
Determinants Affecting Dividend Policy: A Study on A Sample of Companies Listed on the Iraq Stock Exchange Khider , Khalid
Journal of Macroeconomics and Social Development Vol. 3 No. 3 (2026): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jmsd.v3i3.1105

Abstract

The study aimed to diagnose and examine the main determinants of the dividend policy, while providing an integrated comprehensive picture of the intellectual and theoretical frameworks that framed the mechanisms of direct and indirect influence that can be exercised by those determinants, which varied between financial, economic, political and institutional variables in the interpretation of dividend payments, complemented by an empirical quantitative analysis in which  the Generalized Method of Moment  (GMM)  based on balanced double data  was employedPanel Data Balance for a number of business companies listed on the financial markets of the Republic of Iraq, for the period  (2010-2020). The study found  the diversity of the determinants of dividend policies in terms   of profitability, liquidity, growth, and leverage, as well as the variation of their impact from one model  of dividend policy to another. On the other hand, the study confirmed the unification of the trend of impact in terms of being positive for the variable of profitability, liquidity and growth versus  the negative impact of the leverage variable in dividend policies In the sample companies of the study.
The Role of Artificial Intelligence In Understanding And Answering Investors' Questions In Arabic Albahrani, Rusul; Neama, Nagham; Afsay, Akram
Journal of Macroeconomics and Social Development Vol. 3 No. 3 (2026): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jmsd.v3i3.1106

Abstract

This research aims to study the role of artificial intelligence (AI) in accurately understanding and answering investors' questions written in Arabic, thereby supporting investment decision-making and improving communication between investors and digital financial systems. This article explores the potential of AI in providing financial guidance. The study's significance lies in the increasing importance of AI technologies in financial markets, particularly given the rapid growth of digital financial services and investors' growing reliance on electronic platforms for financial information. Twenty questions from the Basic Financial Literacy Questionnaire and the Big Five factors were used to evaluate the ChatGPT-3.5 and ChatGPT-4 models. The study adopted a descriptive-analytical approach to examine the role of AI technologies in understanding investment issues, in addition to employing a range of statistical methods to analyze data and test relationships between study variables. Furthermore, combining financial literacy and AI, while considering ethical awareness, leads to the optimal use of AI-assisted financial advice. This strategy contributes to mitigating the risks of over-reliance on AI, fostering informed trust in AI systems, and enabling better financial decision-making. The study results showed that using artificial intelligence technologies, particularly natural language processing models, significantly improves the understanding of investment questions in Arabic and increases the accuracy of the answers provided to investors. It also reduces the time required to obtain financial information. Furthermore, the results indicated that adopting intelligent systems in investment platforms can enhance investor confidence, increase transparency, and facilitate more efficient investment decisions. Based on these findings, the study recommends developing specialized AI applications in the financial sector in Arabic and expanding their use in financial institutions and investment platforms.
The Impact of Oil Revenues on the Budget Deficit Public Opinion In Iraq for the Period 2005-2025 Al-Ramli , saif; Al-Bayati , Yahya
Journal of Macroeconomics and Social Development Vol. 3 No. 3 (2026): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jmsd.v3i3.1107

Abstract

The current research aims to analyze the impact of oil revenues on the Iraqi budget deficit during the period 2005–2025. This is achieved by examining the relationship between fluctuations in oil prices and oil revenues, on the one hand, and the level of the budget deficit, on the other. The research also seeks to identify the implications of this relationship on public opinion regarding the management of public financial resources in Iraq. The Iraqi economy is a rentier economy, and its public revenues are heavily dependent on oil. The hypotheses section outlines the analytical methodology described above. Subsequent hypothesis testing relies on annual time series data for the two variables. Standard and statistical methods, such as normative tests, are used to determine the characteristics of the relationship between them, thus establishing the relationship between the two variables. The research findings indicate a strong inverse relationship between oil revenues and the Iraqi budget deficit. Furthermore, higher oil revenues lead to a lower budget deficit, and vice versa. Given the Iraqi budget's heavy reliance on oil, fluctuations in oil prices and production negatively impact the budget. Consequently, when oil prices decline or production decreases, the budget deficit increases. Furthermore, statistical analysis shows that oil revenues contributed significantly to the budget deficit variance during that period. The research indicates the need to diversify public revenue sources, support a stronger role for non-oil sectors, rationalize public spending, and establish medium-term fiscal frameworks to mitigate budget deficit volatility and enhance fiscal sustainability. The research also recommends creating financial stabilization funds to mitigate the impact of oil price shocks on the budget.
The Role of Artificial Intelligence in Developing Planning Budgets and Enhancing the Financial Control in Insurance Companies: an Applied Study in Al-Rafidain Bank Abed, Fadhel; Khaghaany, Laith; Alsharmani, Alaa
Journal of Macroeconomics and Social Development Vol. 3 No. 3 (2026): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jmsd.v3i3.1121

Abstract

The current research aims to measure the role of artificial intelligence in preparing planning budgets and enhancing financial control in insurance companies at Rafidain Bank, as the financial and banking sector has undergone tremendous transformations with the emergence of artificial intelligence, which has proven effective in improving the accuracy of financial data, preparing planning budgets, and enhancing financial control in insurance institutions and banks. The research relied on the analytical method in building financial reports, in addition to adopting surveys and interviews with financial experts and accountants in order to measure the level of availability of artificial intelligence, planning, and financial control. Based on this, the research produced several key findings, most notably that artificial intelligence has emerged as an essential part of the planning budget preparation process due to its contribution to collecting and analysing vast amounts of data in generating accurate and objective forecasts.
Economic Growth Analysis in Surabaya City: An LQ, Dynamic LQ, Klassen Typology and Shift-Share Approach Syahputra, Ananda Rafly Dheny; Marseto, Marseto; Utami, Anisa Fitria
Journal of Macroeconomics and Social Development Vol. 3 No. 3 (2026): March
Publisher : Indonesian Journal Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47134/jmsd.v3i3.1119

Abstract

This study aims to identify economic sectors that serve as base, potential, competitive, and leading sectors in Surabaya City, East Java. As a primary trade gateway for Eastern Indonesia and a regional economic hub, Surabaya's development is reflected in its Gross Regional Domestic Product (GRDP) data. This research employs a descriptive quantitative method using secondary data from the Central Bureau of Statistics (BPS). The analysis utilizes Location Quotient (LQ), Dynamic Location Quotient (DLQ), Shift-Share, and Overlay analysis to draw conclusions. The results identify four leading sectors in Surabaya: Manufacturing Industry; Electricity and Gas Supply; Wholesale and Retail Trade (including Car and Motorcycle Repair); and Accommodation and Food Services. These findings provide strategic insights for policymakers to formulate economic development strategies aimed at enhancing regional economic growth.

Page 5 of 5 | Total Record : 47

 1   2   3   4   5 

Filter by Year

2023 2026


Reset
Filter By Issues
All Issue Vol. 3 No. 3 (2026): March Vol. 3 No. 2 (2025): December Vol. 3 No. 1 (2025): September Vol. 2 No. 4 (2025): June Vol. 2 No. 3 (2025): March Vol. 2 No. 2 (2024): December Vol. 2 No. 1 (2024): September Vol. 1 No. 4 (2024): June Vol. 1 No. 3 (2024): March Vol. 1 No. 2 (2023): December Vol. 1 No. 1 (2023): September More Issue