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Wahyu Ario Pratomo
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Jl. Prof. T. M. Hanafiah, S.H., Kampus USU, Medan, 20155, Sumatera Utara, Indonesia Fakultas Ekonomi dan Bisnis, Universitas Sumatera Utara
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Journal of Sustainable Economics
Published by TALENTA PUBLISHER
ISSN : -     EISSN : 30218179     DOI : https://doi.org/10.32734/
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Journal of Sustainable Economics (JSE) is a peer-reviewed publication of original research works. The mission of the journal is to offer a medium to exchange ideas and information about the advancement of knowledge and research in disiplines of economics and econometrics from the following subject area such as microeconomics, macroeconomics, developing economics, finance and banking, islamic economics and public economics. The journal also receives systematic reviews, meta-analysis and review article on new issues in pharmaceutical and clinical sciences. Submission to this journal implies that the manuscript has not been published or under consideration to be published in another journal. At the initial stage, this journal will be published online twice a year. Each publication contains 5 (five) research articles which will be published online. This journal is open access and published by TALENTA Publisher which organized by Department of Development Economics, Department of Economics Postgraduate and Doctoral Program, Faculty of Economics And Business, Universitas Sumatera Utara (USU).
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 23 Documents
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Sustainability of Islamic Bank Financing across Macroeconomic and Internal Factors Suprayitno, Aryadimas; Susanto, Arva Athallah; Hawariyuni, Weni
Journal of Sustainable Economics Vol. 2 No. 2 (2024): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v2i2.18433

Abstract

The sustainability of Islamic banking financing can be evaluated by examining the dynamics of financing risk, as an escalation in financing risk may lead to significant losses for banks. This study aims to investigate the long-term and short-term effects of internal factors and macroeconomic conditions on the financing risk encountered by Islamic banks in Indonesia. This study utilizes quarterly time series data from 2015 to 2023, with Financing Risk as the endogenous variable and Macroeconomics, Capital, Efficiency, and Bank Performance as the exogenous factors. This study utilizes Autoregressive Distributed Lag (ARDL) analysis technique. The results indicate that, over the long term, internal factors such as capital, efficiency, and performance substantially affect financing risk. Capital exerts a detrimental influence, although both efficiency and the performance of Islamic banks positively affect financing risk. In contrast, macroeconomic factors are found to exert no substantial influence on financing risk. In the short term, capital and efficiency exert considerable effects, with capital adversely influencing financing risk and efficiency favorably improving it. The performance of Islamic banks does not substantially influence financing risk throughout this period. Macroeconomic conditions are observed to positively affect financing risk. This study's conclusions offer significant insights for analysts of Islamic banking risk, facilitating educated short-term and long-term decision-making to more effectively predict variations in financing risks.
Connectivity Infrastructure Spending and Its Indicator Achievement: Case Study of Southern Sumatra Region Nopiah, Ririn; Azansyah; Ekaputri, Retno Agustina; Sunaryo; Prasetya, Bayu Andy
Journal of Sustainable Economics Vol. 2 No. 2 (2024): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v2i2.18708

Abstract

Connectivity infrastructure is one of the crucial aspects in the development of a region. The Indonesian government has allocated a significant budget for connectivity infrastructure spending. The effectiveness of infrastructure spending reflects how much the connectivity infrastructure indicators have been achieved. The increase in connectivity infrastructure spending must be directly proportional to the rise in the quality and quantity of connectivity infrastructure. This study aims to analyze the correlation between connectivity infrastructure spending and the achievement of its indicators, especially in the Southern Sumatra region. The analysis method used is the Pearson Correlation analysis method, an approach to analyzing growth and the effectiveness of connectivity infrastructure spending. The results show that infrastructure spending and the achievement of its indicators have a relatively weak and negative correlation for roads and bridges. This study provides implications that the Southern Sumatra Region still needs improvement and evaluation between the distribution of government spending and program implementation for better regional development effectiveness.
Beyond the Neoclassical Approach Addressing Income Inequality in Indonesia Through Institutional Economics Harahap, Zikrina Rizka Amelia
Journal of Sustainable Economics Vol. 2 No. 2 (2024): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v2i2.18923

Abstract

Indonesia is a developing country that still has many economic development problems. Income inequality is one such problem. In the Cold War era, many countries, including Indonesia, began to adopt the neoclassical economic system used by the West to stem the influence of Soviet communism. Unfortunately, much literature states that the neoclassical school of economics creates a wide curtain between the rich and the poor. Income inequality is a problem that can lead to social unrest, and it was proven that in 1997/1998, there was a multidimensional crisis caused by this widening inequality. The ability of neoclassical economics to answer Indonesia's economic challenges is starting to be doubted. This is due to quite complex problems in the structure of Indonesian society, which still adheres closely to local culture, norms, and customs in carrying out its economic activities. Adopting a new institutional economic system is deemed more appropriate to address the challenges of income inequality in Indonesia than the neoclassical economic system. The new institutional economic system is able to explain that differences in culture, societal structure, and norms will shape different economic behavior, so the role of institutions and externalities is needed to support this form of economic behavior. In this article, we will explain the condition of income inequality in Indonesia, the use of neoclassical schools of thought in developing countries such as Indonesia, and the role of new institutional economics in explaining the problem of income inequality in Indonesia.
Exploring the Intersections of Blue, Green, and Grey Economies in Nigeria: Opportunities, Challenges, and Strategic Pathways for Sustainable Development Jacob, Augustine; Umoh, Okon
Journal of Sustainable Economics Vol. 3 No. 1 (2025): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v3i1.19060

Abstract

This review paper explores the integration of Blue, Green, and Grey economies as viable pathways for sustainable economic development in Nigeria. By examining the principles, current status, challenges, and opportunities of these economic models, the study highlights their potential in diversifying Nigeria's economy, enhancing environmental sustainability, and promoting social inclusion. The Blue Economy focuses on harnessing Nigeria’s vast coastal and marine resources for sustainable fisheries, aquaculture, and maritime activities. The Green Economy emphasizes eco-friendly practices, renewable energy, sustainable agriculture, and land management as means to address climate change and improve food security. Meanwhile, the Grey Economy, predominantly informal, presents opportunities for sustainable urban development, particularly in waste management, recycling, and construction sectors. The study identifies significant challenges, including policy gaps, inadequate infrastructure, limited access to financing, and the need for a more robust regulatory framework. It emphasizes the necessity of an integrated policy approach that aligns with Nigeria’s Vision 2050 and the Sustainable Development Goals (SDGs). Strategic recommendations include fostering public-private partnerships, investing in capacity building, and leveraging innovative financing mechanisms to support sustainability projects. This review concludes that a comprehensive approach to integrating Blue, Green, and Grey economies can enhance Nigeria’s economic resilience, reduce environmental degradation, and promote inclusive growth. The findings serve as a blueprint for policymakers, stakeholders, and researchers interested in advancing sustainable development in Nigeria.
Economic Convergence Among Urban Areas In North Sumatera Hutasuhut, Khairul Ali; Siahaan, Lasma Melinda; Hutasuhut, Julianto
Journal of Sustainable Economics Vol. 3 No. 1 (2025): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v3i1.20286

Abstract

This research investigates the convergence of the urban regional economy in North Sumatra from 2018 to 2022, employing a quantitative and descriptive approach to analyze the factors influencing the Regional Gross Domestic Product (GRDP). Data, derived from the Central Statistics Agency (CSA), encompasses eight cities: Sibolga, Tanjungbalai, Pematangsiantar, Tebing Tinggi, Medan, Binjai, Padangsidimpuan, and Gunung Sitoli. The study focuses on three independent variables—population (X1), Human Development Index (HDI) (X2), and Open Unemployment Rate (OUR) (X3)—aiming to understand their simultaneous and partial effects on GRDP. Hypotheses are formulated, indicating the anticipated influence of each variable, with the null hypothesis positing no significant effect. Utilizing eViews version 12 for panel data regression analysis, the results reveal that collectively, Population, HDI, and OUR significantly influence GRDP in the urban regions of North Sumatra. However, when analyzed individually, only HDI and TPT exhibit significant impacts, while Population does not. This suggests that the quality of human development and the unemployment rate play pivotal roles in driving economic convergence. The findings contribute to a nuanced understanding of the convergence dynamics in the cities studied, emphasizing the importance of targeted policies to foster inclusive and sustainable economic growth in the region.
Enhancing Supply Chain Performance for Sustainable Development in the Small and Micro Industries The Role of Organizational and Local Culture, Support from Financial Institutions, and Government Revadi, Chindy E; Armadani, Elvi; Siregar, Lina Sari
Journal of Sustainable Economics Vol. 3 No. 1 (2025): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v3i1.20549

Abstract

The economic growth potential of North Sumatra is globally recognized due to the achievement of sustainable development goals. This research aims to explore the integration of environmental, social, economic, organizational, local culture, government, and financial institution support factors that can improve supply chain performance and sustainability for small and micro industries in North Sumatra. The study uses a mixed-methods approach that involves in-depth interviews and structured questionnaires to examine the central roles of these factors. The findings underscore the importance of environmental considerations in supply chain management, the impact of local cultural traditions on organizational performance, and the need for innovative economic solutions to improve efficiency and traceability by government and financial support. The research also suggests the implementation of comprehensive policies that integrate all aspects of collaboration to achieve the Sustainable Development Goals in North Sumatra, addressing deglobalization and geopolitical crises.
Introducing Environmental Taxes in Tanzania: An Empirical Analysis Chindengwike, James
Journal of Sustainable Economics Vol. 3 No. 1 (2025): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v3i1.21042

Abstract

Environmental tax is very crucial to support the government revenue in both developing and developed countries. The aim of this paper is assess the important of introducing environmental taxes in Tanzania. The empirical analysis was used from 13 research articles and different reports from various international institutions database such as International Momentary Fund (IMF), World Bank (WB) and African development bank and Tanzania Revenue Authority (TRA) from semantic scholar, google scholar and research gate. The study found that introducing of environmental taxes are very important since source of revenue, improve the environmental, environmental taxes provide a continued incentive to cut emissions at all levels. The study recommends that the effective environmental taxes should need to be proportionate to the harm done to the environment, the flexibility of environmental taxes to offer comparable abatement incentives on each unit of pollution is one of its benefits, the tax rate need to be proportionate to the harm done to the environment and reflecting environmental damage.
Factors Affecting Rupiah Exchange Rate on US Dollar Muhamad Faeqi Hadi Saputra; Ht.Suhut, Hazri Wahyuni
Journal of Sustainable Economics Vol. 3 No. 1 (2025): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v3i1.21055

Abstract

This research aims to analyze the influence of interest rates, inflation, and economic growth (GDP) on the rupiah exchange rate on the US dollar. The results of research was analyzed using SPSS Version 25.0. It reveals that the determinant coefficient (R) of 0.6580, which mean the correlation between interest rates, inflation, and economic growth on the rupiah exchange rate for the US dollar is 65,80%. Meanwhile, the R Square value is 0,433, which means that the contribution of the interest rate, inflation, and economic growth variables to the rupiah exchange rate on the US dollar is 43,33% and the rest was influenced by other variables. Considering at each variable, it is known that the interest rate variable has a significant and influential effect on the rupiah exchange rate on the US dollar. The inflation variable has an influence but is not significant on the rupiah exchange rate on the US dollar. Meanwhile, the economic growth variable has an influence and is significant on the rupiah exchange rate on the US dollar. The implication of this research is that the government must concern to interest rates and economic growth in order to increase the rupiah exchange rate on the US dollar.
Towards sustainable economic growth: Threshold effects of bank-based financial development and recommendations for Vietnam Ho, Linh Luong
Journal of Sustainable Economics Vol. 3 No. (2) (2025): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v3i(2).22831

Abstract

This paper investigates the relationship between bank-based financial development and economic growth in 14 Asia-Pacific economies over the period 2010-2021. Using a panel data framework with Pooled OLS and System GMM estimators to address potential endogeneity, the results reveal nonlinear patterns: certain measures of financial development exhibit an inverted U-shaped relationship with growth, while another measure shows a U-shaped relationship. These findings suggest that both insufficient and excessive financial development can be detrimental, and that the growth-enhancing effects may emerge only beyond specific thresholds. Policy recommendations for Vietnam emphasize strict supervision of credit institutions, encouraging commercial banks to adopt digital transformation, inflation stability, stock market deepening, and targeted attraction of high-quality foreign direct investment.
Optimizing Micro, Small, and Medium Business Ecosystem Elements to Improve the Economic Competitiveness of North Sumatra Pasaribu, Ayu Angelina; Butar Butar, Riyani
Journal of Sustainable Economics Vol. 3 No. (2) (2025): Journal of Sustainable Economics
Publisher : TALENTA PUBLISHER UNIVERSITAS SUMATERA UTARA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32734/jse.v3i(2).23390

Abstract

Micro, small, and medium enterprises (MSMEs) have long been an important pillar in driving economic growth. This study aims to analyze the MSME ecosystem in relation to competitiveness in North Sumatra Province. This research uses the Vector Autoregression Error Correction model. The results show that in the short term, there is an increase in access to capital, which significantly and positively affects income. This is consistent in the long term, where there is a positive and significant effect of increased access to capital in driving the system towards long-term equilibrium. Increased adoption of internet technology has a positive and significant effect. Long-term analysis shows a positive coefficient for internet technology adoption. In the short term, not receiving guidance/training/counseling (BPP) shows a positive and significant effect. However, long-term findings show a negative and significant impact. Short-term findings show that the bank loan variable has a negative and significant impact, which is consistent with long-term findings.

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