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Ekonomikalia Journal of Economics
Published by PT. Heca Sentra Analitika
ISSN : -     EISSN : 29885787     DOI : https://doi.org/10.60084/eje
Core Subject : Economy, Science, Social,
Economics, Econometrics & Finance Energy Environmental Science
Ekonomikalia Journal of Economics (EJE) stands as a distinguished global scholarly publication. It is dedicated to releasing original research articles and review papers of exceptional quality within the realm of economics. The primary aim of the journal is to foster cross-disciplinary research, facilitate the exchange of knowledge, and propel the advancement and implementation of pioneering approaches. EJE remains steadfast in its pursuit of excellence, significance, and influence, serving as an invaluable asset for researchers, professionals, and educators across the globe. Topics of this journal includes, but not limited to: microeconomics and macroeconomics, international economics, development economics, public economics, behavioral economics, econometrics, regional economics, monetary economics, islamic economics, energy economics, environmental economics, political economy
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 30 Documents
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The Role of Economic Growth in Moderating the Impact of Energy Consumption on Carbon Emissions in ASEAN-5 Sahputra, Krishna; Syahnur, Sofyan; Silvia, Vivi
Ekonomikalia Journal of Economics Vol. 3 No. 1 (2025): April 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i1.242

Abstract

The ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Singapore, and Thailand) have experienced rapid economic growth, leading to increased energy consumption and carbon emissions. While economic expansion initially increases emissions, it can also facilitate the adoption of cleaner energy sources. This study investigates the moderating role of economic growth in the impact of energy consumption on carbon emissions using panel data from 2001 to 2022. The Autoregressive Distributed Lag (ARDL) method was employed due to its capacity to analyze both short- and long-term relationships. The results from the ARDL analysis reveal that the consumption of non-renewable energy substantially elevates carbon emissions in both the short and long term. In contrast, the influence of renewable energy consumption on emissions is positive only in the long term. Additionally, non-renewable energy consumption exerts a positive effect on CO2 emissions, which is moderated by both economic growth and the square of economic growth. Conversely, renewable energy consumption contributes negatively to CO2 emissions, similarly moderated by economic growth and its square. These findings correspond with the Environmental Kuznets Curve (EKC) theory, which posits that emissions initially rise alongside economic development, only to subsequently decrease as economies shift towards more sustainable technologies. Therefore, policymakers are advised to implement robust environmental regulations, invest in renewable energy initiatives, and promote sustainable economic practices to achieve long-term carbon reduction goals. Moreover, governments should enforce stricter policies on fossil fuel consumption and raise public awareness of environmental preservation.
Innovation and Carbon Emissions: A Southeast Asian Perspective Hardi, Irsan; Çoban, Mustafa Necati; Fumey, Michael Provide
Ekonomikalia Journal of Economics Vol. 3 No. 1 (2025): April 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i1.275

Abstract

In an era where sustainable development is paramount, understanding the relationship between innovation and environmental impact has become increasingly critical. As Southeast Asian (SEA) economies strive to transition toward more knowledge-based and technology-driven growth, it is crucial to assess whether innovation fosters sustainability or exacerbates environmental degradation. This study examines the impact of the innovation ecosystem on CO2 emissions in selected SEA countries, utilizing various metrics from the Global Innovation Index (GII) grouped into five categories: institutions, human capital and research, infrastructure, market sophistication, and creative outputs. By employing Generalized Linear Models (GLMs) and conducting robustness checks with Robust Least Squares (RLS), the study reveals that all GII categories significantly impact CO2 emissions. However, the findings indicate that this impact is positive, meaning that the innovation landscape in SEA continues to contribute to rising CO2 emissions. The country-specific analysis also confirms that most of the GII categories are still not environmentally friendly. This evidence underscores the need for policymakers in SEA countries to prioritize the development of environmentally sustainable innovation frameworks that promote the adoption of inclusive green technologies and practices to mitigate the adverse effects of innovation on CO2 emissions.
CO2 Emissions in ASEAN-5: The Role of Labor, Investment, Inflation, Exchange Rate, and Economic Growth Lubis, Sanny F.; Silvia, Vivi; Dawood, Taufiq Carnegie
Ekonomikalia Journal of Economics Vol. 3 No. 1 (2025): April 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i1.279

Abstract

Labor and investment can raise emissions in the short term but may reduce them in the long term if energy efficiency improves. Inflation influences emissions through changes in energy prices and production costs. The exchange rate affects emissions by altering the cost of imported energy and green technologies. Economic growth generally increases emissions, especially in early development stages, as described by the Environmental Kuznets Curve (EKC) hypothesis. Given these linkages, this study examines the effects of labor, investment, inflation, exchange rate, and economic growth on CO2 emissions in ASEAN-5 countries. To ensure robust findings, the study uses the Autoregressive Distributed Lag (ARDL) model and applies Dynamic Ordinary Least Squares (DOLS) and Fully Modified Ordinary Least Squares (FMOLS) for dynamic estimations. Results show that labor, exchange rate, and economic growth do not significantly impact CO2 emissions in the short term. However, investment and inflation have significant positive effects, indicating they contribute to short-term emission increases. In the long term, labor, investment, and inflation significantly reduce emissions, while the exchange rate remains insignificant. Economic growth, however, significantly increases emissions over time. This suggests that without strong environmental policies, continued economic expansion may lead to higher emissions. Overall, the findings highlight that structural factors like investment and economic growth are crucial in shaping CO2 emissions. Policies such as carbon taxes or emissions trading systems can help internalize the environmental costs of emissions, encouraging a shift to cleaner energy and reducing fossil fuel dependence.
Do Natural Disasters, Fossil Fuels, and Renewable Energy Affect CO2 Emissions and the Ecological Footprint? Idroes, Ghalieb Mutig; Hilal, Iin Shabrina; Hafizah, Iffah; Hamaguchi, Yoshihiro; Bruyn, Chané de; Agustina, Maulidar; Pernici, Andreea; Stancu, Stelian
Ekonomikalia Journal of Economics Vol. 3 No. 1 (2025): April 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i1.285

Abstract

Climate change is a global concern driven by increasing pollution through rising CO2 emissions and growing ecological footprint from human activities. This research investigates how environmental quality (proxied by CO2 emissions and ecological footprint) in Indonesia is affected by multiple factors, including natural disasters, fossil fuels, renewable energy consumption, economic growth, and capital formation from 1965 to 2022. The analysis employs the Autoregressive Distributed Lag (ARDL) model, with robustness ensured using Dynamic Ordinary Least Squares (DOLS), followed by Granger causality tests to examine dynamic relationships between variables. The findings show that natural disasters, fossil fuel consumption, and economic growth contribute to increasing CO2 emissions in the long run, while renewable energy consumption helps reduce them. Natural disasters exhibit a negative but insignificant impact on the ecological footprint. Economic growth increases the ecological footprint, whereas capital formation helps reduce it in the long run. In the short run, fossil fuels are found to increase CO2 emissions, while renewable energy reduces them. Natural disasters are found to increase the ecological footprint. Additionally, the Granger causality test confirms a unidirectional relationship from both natural disasters and economic growth to environmental quality. This study recommends that Indonesia implement integrated strategies focused on accelerating green energy adoption and enhancing disaster resilience to achieve environmental quality.
General Equilibrium Model Applications in Energy Research: A Bibliometric Analysis Agustina, Maulidar; Thahira, Zia; Zikra, Naswatun; Amalina, Faizah; Afjal, Mohd; Idroes, Ghalieb Mutig
Ekonomikalia Journal of Economics Vol. 3 No. 1 (2025): April 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i1.291

Abstract

This study investigates the scholarly landscape of General Equilibrium (GE) model applications within the field of energy research through a bibliometric lens. Utilizing a dataset of 864 journal articles indexed in Scopus from 1974 to 2022, the research maps publication trends, identifies leading contributors, and uncovers prevailing thematic clusters within the field. The analysis employs VOSviewer to visualize co-authorship networks, as well as institutional and country-level productivity, source relevance, and keyword co-occurrence patterns. Results reveal that China, the United States, and Japan are the most prolific countries, while Energy Policy and Energy Economics emerge as the most influential journals. Among the authors, Masui T. stands out as the most productive, while Paganetti registers the highest number of citations, reflecting a significant scholarly impact over recent years. Keyword mapping highlights dominant research themes centered on "computable general equilibrium analysis," "computable general equilibrium model," and "emission control," reflecting the field’s alignment with climate-related energy policy evaluation. This bibliometric overview not only provides a structured understanding of intellectual developments in GE-energy research but also identifies underexplored areas that warrant further investigation—particularly the integration of GE models with renewable energy transitions in developing economies and the incorporation of behavioral and distributional dimensions within energy policy assessments. The study contributes to the advancement of interdisciplinary dialogue by informing future research directions and supporting evidence-based policymaking in the energy-climate nexus.
The Moderating Effect of Female Labor Force Participation on Economic Growth in ASEAN Ammara, Tiya Rana; Syahnur, Sofyan; Srinita, Srinita
Ekonomikalia Journal of Economics Vol. 3 No. 2 (2025): October 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i2.327

Abstract

Despite ASEAN’s rapid economic growth, persistent gender gaps in labor participation remained underexplored as determinants of regional development. This study aimed to analyze the effects of gross fixed capital formation, information and communication technology, human capital, labor, and female labor force participation on economic growth in eight ASEAN countries from 2000 to 2023. The Panel Autoregressive Distributed Lag (ARDL) method was employed. Additionally, this study examined the moderating effect of female labor force participation on labor's contribution to economic growth. The estimation results indicated that, in the long run, gross fixed capital formation positively affected economic growth, while information and communication technology and human capital showed positive and negative effects in different models. Labor had a negative and significant effect in the long run. The moderating effect of female labor force participation strengthened the impact of labor on economic growth. The findings of this study highlighted the importance of policies that enhanced human capital quality, developed workforce skills, increased digital literacy, and empowered women to promote sustainable economic growth in the ASEAN region.
Freedom and Prosperity: The Impact of Political Rights and Civil Liberties on Economic Complexity Hardi, Irsan; Mose, Naftaly; Tanchev, Stoyan; Siregar, Muhammad Ilhamsyah; Bozkaya, Seyma
Ekonomikalia Journal of Economics Vol. 3 No. 2 (2025): October 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i2.329

Abstract

As governance and economic sophistication become increasingly interconnected, understanding their relationship is crucial for shaping national growth strategies. This study investigates the impact of political rights and civil liberties on Indonesia’s economic complexity from 2006 to 2021 by disaggregating the Economic Complexity Index (ECI) into trade, technology, and research components. Indonesia serves as an ideal case study due to its dynamic political landscape, evolving civil liberties, and its strategic role as an emerging economy with untapped potential for economic diversification. While a growing body of literature explores the intersection of political and economic development in Indonesia, no prior study has specifically examined the relationship between the Freedom in the World ratings (as an indicator of political rights and civil liberties) and the distinct dimensions of ECI. The analysis employs Gaussian identity-link Generalized Linear Models (GLMs), with robustness checks using Robust Least Squares, and adopts a decomposition approach that includes a set of control variables such as GDP per capita and FDI inflow. The results across both the main and robustness check methods consistently show that political rights and civil liberties contribute positively to ECI-technology, but negatively affect ECI-trade and have no significant effect on ECI-research. These findings underscore the sector-specific nature of political and democratization influences on economic complexity in Indonesia and imply that they facilitate technological advancement but do not uniformly promote trade or research sophistication.
Energy Dependence, Trade Balance, and Current Account Sustainability: Evidence From ASEAN-5 Agustina, Maulidar; Majid, M. Shabri Abd.; Thahira, Zia; Dinda, Lidyana; Khairullah, Aulia; Sakuntala, Dwita
Ekonomikalia Journal of Economics Vol. 3 No. 2 (2025): October 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i2.341

Abstract

This study investigates how energy dependence and trade structure influence current-account sustainability in the ASEAN-5 (Indonesia, Malaysia, Thailand, the Philippines, and Vietnam) over 2014–2023. Focusing on the region’s vulnerability to energy price volatility and evolving trade patterns, the analysis evaluates long- and short-run relationships between the current account, energy trade balance, overall trade balance, real GDP per capita, and exchange rate movements. A panel Autoregressive Distributed Lag (ARDL) model with a Pooled Mean Group (PMG) estimator is applied, and long-run robustness is verified using panel Fully Modified Ordinary Least Squares (FMOLS). The results confirm a stable long-run equilibrium in which both energy and non-energy trade balances significantly and positively contribute to current-account positions. Higher real income and a depreciated exchange rate are also associated with sustained current-account improvements, reflecting capacity expansion and expenditure-switching effects. Short-run adjustments differ across countries, shaped by their import dependence, energy mix, and external balance-sheet conditions. Robustness checks affirm the stability of the estimated long-run relationships. These findings highlight the importance of strengthening energy trade resilience, enhancing non-energy tradable sectors, and maintaining prudent exchange-rate flexibility to support external sustainability in the ASEAN-5.
Mapping the Evolution of Agricultural Economics: A Bibliometric Analysis of the Nexus Between Economic Growth, Environmental Sustainability, and Econometric Modeling Fazli, Qalbin Salim; Delya, Mussa Isaack; Almuchty, Muhammad Akbar; Hafizah, Iffah; Wiranatakusuma, Dimas Bagus
Ekonomikalia Journal of Economics Vol. 3 No. 2 (2025): October 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i2.345

Abstract

Understanding how agriculture contributes to economic growth while maintaining environmental sustainability has become an essential question in contemporary development research. To examine how this interdisciplinary field has evolved, this study employs a bibliometric analysis of 394 Scopus-indexed articles retrieved on 3 October 2025, reflecting research published from 1975 through 2025, focusing on the intersection of agriculture, economic growth, environmental sustainability, and econometric modeling. Data were analyzed with VOSviewer and CiteSpace to map research trends, collaboration, and methodological patterns. The results indicate a consistent rise in publication activity and citation impact, reflecting the growing scholarly attention to sustainable agricultural economics. Asian countries, particularly China, India, Malaysia, and Indonesia, have emerged as leading contributors, highlighting the region’s central role in agricultural transformation and policy-driven research. Econometric approaches such as time series, panel data, and cointegration models dominate methodological trends, underscoring the discipline’s increasing reliance on quantitative analysis. However, international and interinstitutional collaboration remains limited, suggesting that greater integration is needed to achieve a more unified global research landscape. The findings provide valuable insights into the intellectual structure and evolution of agricultural economics, offering a foundation for future studies that aim to strengthen methodological diversity and advance sustainable development policies.
Economic Complexity as a Driver of Economic Growth in Indonesia: A Multidimensional Analysis of Trade, Technology, and Research Maulidar, Putri; Yulfianti, Chairunnisa; Prasetyo, Farhan Hadi
Ekonomikalia Journal of Economics Vol. 3 No. 2 (2025): October 2025
Publisher : Heca Sentra Analitika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60084/eje.v3i2.346

Abstract

This study investigates how economic complexity influences Indonesia’s economic growth through three interrelated dimensions: research, technology, and trade. Using annual time-series data from 2000 to 2021, several econometric techniques including Ordinary Least Squares (OLS), Robust Least Squares (RLS), Fully Modified OLS (FMOLS), Canonical Cointegrating Regression (CCR), Dynamic OLS (DOLS), and Quantile Regression (QR) are applied to capture both short-run and long-run dynamics. The results reveal that the contribution of economic complexity to growth is heterogeneous and stage dependent. Research and trade-based complexities emerge as the primary long-run drivers of growth, enhancing productivity, export diversification, and structural transformation. In contrast, technology-based complexity exerts a negative effect in both the short and long run, reflecting Indonesia’s limited absorptive capacity, skill mismatches, and institutional constraints. Quantile regression results further show that research-based complexity supports growth during low-performance phases, whereas trade-based complexity becomes more influential at higher stages of development. These findings highlight the need for phase-specific development strategies that strengthen research and innovation in early stages, improve technological absorption during industrial transitions, and promote export sophistication and value-chain integration to achieve resilient, knowledge-driven, and sustainable economic growth.

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