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INDONESIA
Signifikan : Jurnal Ilmu Ekonomi
ISSN : 20872046     EISSN : 24769223     DOI : 10.1016
Core Subject : Economy,
Arjuna Subject : -
Articles 13 Documents
Search results for , issue "Vol 10, No 2 (2021)" : 13 Documents clear
Trade Agreement and Economic Growth: Evidence in D-8 Countries Arisman Arisman; Mohammad Nur Rianto Al Arif; Darwis Harahap
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.21457

Abstract

The D-8 organization was established to accelerate the economies of eight developing countries that joined the OIC, but the data showed a decline in the share of the D-8 countries towards the total GDP of developing countries. Thus, this study examines whether there are differences in economic growth between D-8 and non-D-8 countries. The tests were carried out on eight D-8 member countries and eight non-D8 countries. Using panel regression with a fixed-effect model, the study results indicate differences in economic growth between D-8 and non-D-8 member countries. These results indicate that joining D-8 made a significant contribution to its member countries. In addition, all control variables such as political stability, population, export, and human development index show a positive impact on economic growth.JEL Classification: F13, F14, F43How to Cite:Arisman., Al Arif, M. N. R., & Harahap, D. (2021). Trade Agreement and Economic Growth: Evidence in D-8 Countries. Signifikan: Jurnal Ilmu Ekonomi, 10 (2), 311-324. https://doi.org/10.15408/sjie.v10i2.21457.
Bibliometric Analysis and Review of Halal Tourism Sutan Emir Hidayat; Ahmad Rafiki; Muhammad Dharma Tuah Putra Nasution
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20270

Abstract

The purpose of this paper is to review the existing works and literature on halal tourism using bibliometric analysis in an attempt to explore the expanding journey of this concept since its conceptualization. Based on a bibliometric analysis of 77 articles retrieved from the Scopus database from 2004 to Sept 2020, this study employs the following bibliometric techniques such as citation, co-citation, and co-occurrence of author keywords. This study finds the nature and direction of research on halal tourism had been conducted over the past decades. It also finds the most dominant authors, journals, institutions, and countries about the works on halal tourism. However, using a single source of the database could be a limitation of this study that, thus expectedly, additional techniques are needed for future researches. For academicians and practitioners, they could get comprehensive insights on the halal tourism concept from this study, which can reference strategic initiatives to encourage Muslim traveler loyalty and obtain Muslim tourist satisfaction.JEL Classification: M31, Z12, Z30, Z30, Z32How to Cite:Hidayat, S. E., Rafiki, A., & Nasution, M. D. T. P. (2021). A Bibliometric Analysis and Review of Halal Tourism. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 177-194. https://doi.org/10.15408/sjie.v10i2.20270.
Does Women’s Participation in Politics Matter for Economic Development in OIC-15? An Islamic Perspective Sari Ramdayani; M. Shabri Abd. Majid; Suriani Suriani
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20214

Abstract

This study aims to empirically determine and analyze the role of women's participation in politics, female population growth, trade balance, and women's labor force participation in promoting economic development across 15 OIC countries during the 2006-2017 period, both in short- and long-run from an Islamic perspective. Using the Panel Autoregressive Distributed Lag (ARDL) method, this study found that, in the short term, trade balance and women's labor force participation have promoted Islamic economic development. In contrast, women's participation has a negative effect on the economic development of OIC countries. In the long term, on the other hand, all variables have promoted Islamic economic development in OIC countries, except for the trade balance variable. These findings suggest that coordination and synergy for strengthening economic development among OIC countries need to be enhanced, focusing on women's role in politics, labor force, quality of population, and economic dimensions.JEL Classification: C33, F16, J16, O11, P48Ramdayani, S., Majid, M. S. A., & Suriani, S. (2021). Does Women's Participation in Politics Matter for Economic Development in OIC-15? An Islamic Perspective. Signifikan: Jurnal Ilmu Ekonomi, 10 (2), 209-222. https://doi.org/10.15408/sjie.v10i2.20214.
Corporate Governance from an Islamic Moral Economy Perspective: The Dimensions and Analysis Muhammad Rizky Prima Sakti; Mohammad Ali Tareq; Hajime Kamiyama
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.21511

Abstract

Corporate governance from Islamic perspective is derived from Islamic worldview, whereby the God is at the apex and human beings are below Him. However, there is no unified definition of corporate governance under shari’ah point of view. To bridge the applicability of Islamic corporate governance model with Islamic moral economy framework, some key questions to be addressed are as follows. (i) do Islamic corporate governance models consistent with the aspiration of Islamic moral economy? (ii) what are the important dimensions of Islamic corporate governance? (iii)  what is the concept of Islamic corporate governance inspired by the ideals of Islamic moral economy? To accomplish the objectives, this paper follows critical review analysis as a methodology, through which it aims to highlight how each Islamic corporate governance model models are being constructed and to compare those models with Islamic moral economy perspective. The paper proposes the suitable model of Islamic corporate governance under the Islamic moral economy perspective.JEL Classification: G34, O16How to Cite:Sakti, M. R. P., Tareq, M. A., & Kamiyama, H. (2021). Corporate Governance from an Islamic Moral Economy Perspective: The Dimensions and Analysis. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 359-378. https://doi.org/10.15408/sjie.v10i2.21511.
Role of Cash Waqf Linked Sukuk In Economic Development and International Trade Hendri Tanjung; Agus Windiarto
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20493

Abstract

The aim of this paper is to examine the role of Cash Waqf Linked Sukuk (CWLS) in economic development and trade in Indonesia. This research is motivated by the fact that there is still limited financing to economic development in Indonesia as well as trade financing. The research based on a qualitative methodology using the data from scientific journals and paper in the field of Cash Waqf, including CWLS. The results cash waqf in several countries has been used for beneficiaries.  Especially for CWLS, it consists of 2 types, namely wakaf sukuk and retail waqf sukuk. For waqf sukuk, the proceeds of the waqf have been channelled to finance the construction of the retina center and glaucoma center at the hospital. Meanwhile, retail waqf sukuk are used by each nazir to finance the program. This research shows that CWLS is proven to play a role in economic development, particularly infrastructure. The infrastructure that has been built is in the health sector. CWLS can also be an alternative source of funds with low-cost of fund which in turn enables the Eximbank/ECA to extend trade financing to the cooperative with competitive price. However, there are some action need to be taken, i.e (i) conduct socialization regarding CWLS to improve public awareness and enlarge the wakif base and (ii) issue DSN regulations regarding CWLS.JEL Classification: F13, F63, P33How to Cite:Tanjung, H., & Windiarto, A. (2021). Role of Cash Waqf Linked Sukuk in Economic Development and International Trade. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 275-290. https://doi.org/10.15408/sjie.v10i2.20493. 
The Impact of Islamic Bank Financing, Government Spending, and Investment on Economic Growth in Indonesia Nofrianto Nofrianto; Yunie Muliana; Adi Cahyadi
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20469

Abstract

This study aims to analyze the effect of Islamic bank financing, government spending, and investment on economic growth in Indonesia from 2003 to 2019. A quantitative descriptive methodusing the Vector Error Correction Model (VECM) analysis was applied. The results showed that in the short term, the variables of Islamic bank financing, government spending, and investment did not have a significant effect on economic growth. This shows that these variables require enough time to affect the economic growth. However in the long term, the results showed that Islamic bank financing and investment respectively have a significant, negative effect on economic growth, while government spending has a positive and significant effect on economic growth in Indonesia.JEL Classification: F22, F24, I32, J01, O15How to Cite:Nofrianto, Muliana, Y., & Cahyadi, A. (2021). The Impact of Islamic Bank Financing, Government Spending, and Investment on Economic Growth in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 299-310. https://doi.org/10.15408/sjie.v10i2.20469.
Determinants of Behavioral Intentions to Use Sharia Financial Technology (Fintech) Dani Setiawan; Darwanto Darwanto; Edy Yusuf Agung Gunanto
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.21451

Abstract

The growth of sharia fintech is not proportional to the majority of the Muslim population. There are only a few studies that discuss the behavioral intentions of consumers who use sharia fintech. This study aims to identify the factors influencing Muslim's behavioral intentions in using sharia fintech. This study conducted 400 respondents in four types of sharia fintech (digital payment, lending, crowdfunding, and risk and management). This study uses a structural Equation Modeling - Partial Least Square (SEM-PLS) approach. Variable Planned behavior (PB), Acceptance Model (AM), Use of Technology (UT), Digital Literacy (DL), and Sharia Financial Literacy (SFL) have significant positive effects on Behavior Intention (BI). This study provides recommendations to improve the distribution of internet access infrastructure and the right curriculum in increasing digital literacy, Islamic finance literacy, and also more accessible fintech services.JEL Classification: D83, D91, G2, Z1How to Cite:Setiawan, D., Darwanto., & Gunanto, E. Y. A. (2021). Determinants of Behavioral Intentions to Use Sharia Financial Technology. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 325-342. https://doi.org/10.15408/sjie.v10i2.21451.
Optimum of Strategic Asset Allocation for Indonesian Hajj Fund Beny Witjaksono; Hamzah Bustomi
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20020

Abstract

Hajj fund must be managed effectively with a diligent approach of standard risk management. This study examines the level of risk management The Hajj Fund Management Agency (BPKH) performs in optimizing its investments: fund and fixed asset portfolios.  The measurement data was initially and purposively retrieved.   It was later run and processed through linear programming for further analyses. The results indicate that Sharia banking deposits and gold are riskless assets. As far as other asset portfolios, investments are placed strictly based on direct and indirect participation according to the government's regulations to avoid the pressures of market volatility. This study serves as a reference for regulators in formulating appropriate strategic asset allocation to applied related optimized management of hajj fund investment.JEL Classification: C44, C51, C58, C61, D81, E22, E47How to Cite:Witjaksono, B., & Hamzah. (2021). Optimum Strategic of Asset Allocation for Indonesian Hajj Fund. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 195-208. https://doi.org/10.15408/sjie.v10i2.20020.
Restructuring and Bank Performance in Dual Banking System Raditya Sukmana; Mansor H Ibrahim
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20740

Abstract

This paper assesses the impact of changing competition landscape and Islamic bank penetration on bank risk, profitability and capitalization. This study utilizes an unbalanced panel dataset consisting of 37 commercial banks over the period 1997 to 2015. The paper uses a panel VAR methodology to discern the interactions between bank competition and Islamic banking presence on one hand and bank performance on the other hand. We find evidence supportive of both competition – stability and competition – fragility views for conventional banks. The results suggest that bank competition improves conventional bank risk and, at the same time, lower profitability and capital holdings. As for Islamic banks, competition seems to robustly influence only bank profitability. Finally, we note that increasing Islamic bank penetration improves the risk profile of conventional banks and, as expected, reduces their market power. These results bear important implications on the design of competition policies in a dual banking system as well as on the development of the Islamic banking sector.JEL Classification: C23, G21, G28How to Cite:Sukmana, R., & Ibrahim, M. H.. (2021). Restructuring and Bank Performance in Dual Banking System. Signifikan: Jurnal Ilmu Ekonomi, 10 (2), 223-247. https://doi.org/10.15408/sjie.v10i2.20740. 
The Role of Islamic Crowd-Investing for Sustainable Agriculture in Indonesia Ike Purnama Sari; Salina Kassim
Signifikan: Jurnal Ilmu Ekonomi Vol 10, No 2 (2021)
Publisher : Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v10i2.20060

Abstract

This research was conducted to discover the relationship between Islamic crowd investing and agriculture by exploring and analyzing the Islamic crowd-investing platform, and to describe the importance and benefits of sustainable agriculture in Indonesia. Funding platforms for agriculture are still relatively small in Indonesia. However, the potential for this sector is still very high due to the large number of demands and a large market. A systematic literature review with a qualitative approach research method was used in this study, specifically to review the literature retrieved from computerized databases, manual search, and authoritative texts related to Islamic crowd-investing and sustainable agriculture. This study showed a strong relationship explaining that financial technology, such as Islamic crowd-investing, has an important role not only in terms of funding, but also in achieving sustainable agriculture, which will have an impact on the environment that may potentiate the agricultural sector itself.JEL Classification: O13, Q14How to Cite:Purnamasari, I., & Kassim, S. (2021). The Role of Islamic Crowd-Investing for Sustainable Agriculture in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 343-358. https://doi.org/10.15408/sjie.v10i2.20060.

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