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<![CDATA[Uncovering Economic Growth Dynamics: The Role of Idiosyncratic Risk ]]>
<![CDATA[Asri, Marselinus]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.38636
<![CDATA[Research Originality: This study provides a new perspective on the dynamics between foreign direct investment (FDI), idiosyncratic risk, and economic growth in ASEAN countries using structural equation modeling (SEM). It contributes to the literature by highlighting the nuanced role of idiosyncratic risk in shaping regional economic outcomes.Research Objectives: The study aims to examine the direct and indirect impacts of FDI inflows, idiosyncratic risk, and sectoral variables (manufacturing, agriculture, and services) on economic growth in ASEAN from 2013 to 2023.Research Methods: The study uses data from the ASEAN Statistical Database and applies SEM to estimate the relationships between these variables.Empirical Result: The main findings indicate that FDI inflows have minimal impact on idiosyncratic risk, as evidenced by regression coefficients below 0.001 for inward and intra-ASEAN FDI. In contrast, idiosyncratic risk significantly impacts economic growth. The results also reveal that sectoral variables such as manufacturing, agriculture, and services exhibit weaker associations with economic growth.Implications: This information suggests that policymakers should focus on exploiting idiosyncratic risk to improve economic development, while acknowledging the limited direct impact of FDI on risk management, thereby debating more appropriate strategies to promote sustainable economic growthJEL Classification: A11, E60, H11]]>
<![CDATA[Determinants of Foreign Investment in Indonesia Post-Pandemic ]]>
<![CDATA[Sulvani, Putri]]>;
<![CDATA[Fafurida, Fafurida]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.33552
<![CDATA[Research Originality: The Covid-19 pandemic brought out the phenomenon of a rapid increase in investment after it has ended in Indonesia. This study gives a significant contribution in analyze the impact of pandemic on foreign direct investment.Research Objectives: The aim of this research is to predict whether there is a relationship of interest rates, inflation, labor force, GDP, and exchange rate with investment.Research Methods: This research is also to examine the asymmetric relationship among variables using the NARDL (Nonlinear Autoregressive Distributed Lag) method to identify the long-run effects of these variables on the investment after the Covid-19 pandemic in Indonesia. It uses the secondary data from 1980-2022.Empirical Results: The results of research show that there is a long-run asymmetric effect of the variables of interest rates, GDP, and exchange rates on the foreign direct investment. It means that changes in these variable factors do not only affect the size of investment, but also the speed of its increase after the pandemic. Meanwhile, there is no asymmetric effect of the variables of labor force and inflation on the investment.Implications: This research provides a picture and new insights related to the foreign direct investment dynamics in Indonesia after the Covid-19 pandemic. This study implies that require a different policy approach in an effort to increase the investment in Indonesia.JEL Classification: F21, O40]]>
<![CDATA[Does Reporting of Aksi Cepat Tanggap Cases Affected Public Trust on Zakat Institutions? ]]>
<![CDATA[Pitria, Ratna Kamila]]>;
<![CDATA[Aisy, Diamantin Rohadatul]]>;
<![CDATA[Anggraeni, R. R. Tini]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.41075
<![CDATA[Research Originality: Funds misallocation comitted by ACT identified as fraud and the non-transparent financial that reported in online mass online media in terms of negative reporting. This influence has never been studied on the loyalty of zakat payer (muzakki) of paying Zakat, Infaq, and Shadaqah (ZIS) in Islamic philanthropy institutions (LAZ) admidst related to negative reporting of ACT.Research Objectives: This research analyze the impact of transparency, fraud management and the cases reporting of ACT on public trust in paying zakat, infaq, shadaqah in other Islamic philanthropy institutions.Research Methods: This research setted in the Bogor City among 100 respondents of muzakki in the year 2023 and 2024. Then, multiple linear regression were involved to analyze the impact of independent variables on dependent variable.Empirical Results: The results reveal that being transparent and avoiding fraud cases will significantly increase public trust in paying ZIS at LAZ institutions. Meanwhile, coverage of the ACT cases had no impact on the loyalty of muzakki who were also well-educated.Implications: LAZ are encouraged to provide information related to ZIS funds management, so that trust of the muzakki will increase. Besides, LAZ also needs to have a strong internal control system to enforce transparency in financial reporting, and effective monitoring mechanisms to prevent fraud.JEL Classification: G23, G30, Z12]]>
<![CDATA[Determinants of Paying Zakat Through E-Zakat in Tarakan ]]>
<![CDATA[Ichsan, Nurul]]>;
<![CDATA[Fuadiyah, Hilmatul]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.40942
<![CDATA[Research Originality: The existence of adequate infrastructure, especially in the Tarakan City area, makes the author utilize the integration of the conceptual approaches of the Technology Acceptance Model and the Theory of Planned Research Objectives: This study aims to analyze the influence of variables from the Technology Acceptance Model (TAM) theory and the Theory of Planned Behavior (TPB) on the interest in paying zakat, infaq, and alms through e-zakat.Research Methods: This study uses primary data from the distribution of questionnaires using the purposive sampling method with 111 respondents who are Muslim and domiciled in Tarakan City. The research method is the Structural Equation Model (SEM) Partial Least Square (PLS) approach.Empirical Results: The results obtained that attitudes and behavioral control have a significant influence on the interest in use, while the perception of usefulness, perception of ease, and subjective norms do not have a significant influence on the interest in paying zakat, infaq, and alms through e -zakat.Implications: The community still feels comfortable and easy to pay ZIS directly and the presence of people close to them or the surrounding environment has not fully provided confidence to the Muslim community of Tarakan City to use e-zakat as a payment service.JEL Classification: H71, H76, Q53]]>
<![CDATA[Impact of Covid-19 Vaccination and Financial Policies on Indonesia’s Property Loan Growth ]]>
<![CDATA[Forestryani, Veniola]]>;
<![CDATA[Prastyo, Dedy Dwi]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.37419
<![CDATA[Research Originality: This study provides a novel examination of the impact of COVID-19-related financial policies on property loan growth in Indonesia, a critical area with limited prior quantitative research.Research Objectives: The purpose of this research is to assess how interventions such as Loan-to-Value (LTV) over Finance-to-Value (FTV) ratio (LTV/FTV) relaxation, COVID-19 vaccination as a metric for public activity restrictions, and changes in deposit insurance rates have influenced property loan dynamics during the pandemic.Research Methods: Using monthly banking data from January 2016 to May 2022, this study employs ARIMA Intervention Analysis to capture the effects of these policies.Empirical Results: The empirical results reveal a significant positive shift in property loan growth ten months after the first intervention and a notable impact two months after the third intervention, whereas the second intervention shows limited influence.Implications: These findings imply that integrating COVID-19 vaccination targets into public policy and adjusting deposit insurance rates are effective strategies for sustaining the property loan sector during economic crises. These results provide insights into the role of vaccination targets and financial adjustments in supporting the property loan sector during economic disruptions, offering valuable considerations for future policymaking in similar contexts.JEL Classification: C22, C51, C52, C53, C54 ]]>
<![CDATA[Depreciation and Trade Balance: An Exploration of the J-Curve Phenomenon in Indonesia ]]>
<![CDATA[Mashilal, Mashilal]]>;
<![CDATA[Pambudi, Rakhmat Dwi]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.40972
<![CDATA[Research Originality: Global economic uncertainty has increased in recent years, leading to an appreciation of the US dollar relative to most global currencies, including the Indonesian rupiah. The novelty of this study is the inclusion of natural resource commodity price index variables, given the importance of these commodities in Indonesia's balance of trade.Research Objectives: This study aims to examine the effect of rupiah exchange rate depreciation on Indonesia's trade balance.Research Methods: This study uses a Vector Error Correction Model (VECM) to analyze Indonesia's balance of trade from January 2015 to December 2023, examining the potential J-Curve phenomenon resulting from the depreciation of the Indonesian rupiah.Empirical Result: Findings from the impulse response analysis suggest that the J-Curve phenomenon is present in Indonesia's balance of trade as a result of the rupiah's depreciation. The results of this study also confirm the positive effect of increasing natural resource commodity prices on Indonesia's trade balance.Implications: The implication of these findings is that exchange rate depreciation can improve Indonesia's trade balance only when natural resource commodity prices are rising. Conversely, if commodity prices decline, maintaining the stability of the rupiah exchange rate becomes crucial.JEL Classification: F11, F14, F31, Q02]]>
<![CDATA[Stunting and Baby’s Milk: Evidence from Indonesia ]]>
<![CDATA[Maulana, Muhammad]]>;
<![CDATA[Herawati, Noknik Karliya]]>;
<![CDATA[Wijaya, Miryam B Lilian]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.38624
<![CDATA[Research Originality: This study uniquely examines the relationship between baby milk consumption and stunting rates in Indonesia using a two-stage least squares (2SLS) approach. It fills a gap in understanding why Indonesian consumers prefer sweetened condensed milk over baby formula, despite the increasing prevalence of stunting, offering new insights into the economic and educational factors influencing milk consumption.Research Objectives: To investigate the factors that influence baby milk consumption in Indonesia, such as milk prices, education levels, and population size. Also, to assess the impact of baby milk consumption on stunting rates among Indonesian children.Research Methods: The research uses an econometric approach, specifically two-stage least squares (2SLS) regression, analyzing data from 2005 to 2022.Empirical Results: The results indicate that baby milk consumption is significantly affected by milk prices, education levels, and population size. Interestingly, the study finds that higher consumption of baby milk is correlated with an increase in stunting rates.Implications: The findings suggest a need for greater parental awareness regarding the nutritional value of baby milk and potential policy interventions to regulate milk quality. Additionally, the results highlight the importance of educational campaigns to improve milk consumption behaviors and further research on the nutritional content of available baby milk products to address the stunting problem effectively.JEL Classification: D11, I15, O13, Q18, R22]]>
<![CDATA[Export Diversification and Economic Growth of ECOWAS Member States ]]>
<![CDATA[Olure-Bank, Adeyinka Michael]]>;
<![CDATA[Mustapha, Muktar]]>;
<![CDATA[Zakaree, Saheed]]>;
<![CDATA[Abraham, Alexander]]>;
<![CDATA[Yakubu, Alfa]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.37999
<![CDATA[Research Originality: Using the data of export diversification index which is excluded in previous studies and most the pervious only look at the relationship between ED and GDP, excluding per capita income as basics for development. Again, previous studies results are contradictory on impact of export diversification performance. Additionally, this paper provides robust empirical evidence of a positive effect of export diversification on per capita income growth.Research Objectives: This paper has the objective to examines how export diversification (ED) increase economic growth and per capita income.Research Methods: The paper achieve its objectives using, panel least technique and co-integration test are used on time series data of 1984-2022 for ECOWAS states.Empirical Results: The paper shows that the export diversification index has a significant influence on GDP growth but inverse, however, manufacturing value-added shows weak but a positive influence on the growth per capita income. Again, the paper reveals that high skewness of ECOWAS region to primary products export which could be responsible for the low growth per capita income. The finding of this is not the volume of exported products that matters, but how dynamic is exported products.Implications: The paper therefore recommends ECOWAS countries need to develop processing capability for export that comes from endogenous sufficiency.JEL Classification: C23, F10, O47, O55]]>
<![CDATA[Examining the Sustainability of Food Consumption Based on Religiosity Dimensions in Urban and Sub-Urban Communities ]]>
<![CDATA[Habibi, Ahmad]]>;
<![CDATA[Hanif, Hanif]]>;
<![CDATA[Normasyhuri, Khavid]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.38301
<![CDATA[Research Originality: This study offers a new perspective on the relationship between religiosity and sustainable food consumption in urban and peri-urban communities in Lampung, Indonesia. Research Objectives: The objective was to examine the differences in sustainable food consumption between urban and peri-urban communities, exploring the role of religious beliefs in shaping consumption behavior.Research Methods: A quantitative approach using comparative analysis was used. Data were collected from 250 respondents using purposive sampling, analyzed through statistical tools such as the Shapiro-Wilk Normality Test and Independent Sample t-test.Empirical Results: This study found that there were no differences in consumption behavior between urban and suburban communities with the dimensions of religiosity in the aspects of beliefs and practices. There were differences in consumption behavior between urban and suburban communities with the dimensions of religiosity in the aspects of knowledge and behavior.Implications: This study highlights the need for policymakers and businesses to consider religious factors in promoting sustainable consumption, suggesting that urbanization and access to religious education influence food choices based on religiosity.JEL Classification: D12, D19]]>
<![CDATA[Program Keluarga Harapan and Senior Secondary Out-of-School Rates ]]>
<![CDATA[Romadhoni, Ilham Irawan]]>;
<![CDATA[Qibthiyyah, Riatu Mariatul]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business Syarif Hidayatullah State Islamic University of Jakarta ]]>
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DOI: 10.15408/sjie.v13i1.39891
<![CDATA[Research Originality: The novelty of this study lies in its use of a combined approach of probit analysis and propensity score matching to evaluate the impact of the Program Keluarga Harapan (PKH) on reducing out-of-school rates at the senior high school level, specifically before and after the COVID-19 pandemic.Research Objectives: The study aims to empirically assess the effectiveness of PKH in enhancing educational outcomes to break the cycle of poverty.Research Methods: The study also utilizes recent data from 2019 and 2022, reflecting the increased financial support of up to IDR 10 million per family per year. The analysis was conducted in two stages: first, on the overall sample of students from eastern Indonesia and other regions, and second, on a subsample of students in eastern Indonesia.Empirical Results: The results indicate that PKH was more effective in 2022, with a 2.3% reduction in the overall sample and a 1.4% reduction in the eastern Indonesian subsample in preventing students from dropping out of school compared to 2019.Implications: The study suggests that PKH can effectively support educational participation and reduce out-of-school rates, supplementing primary programs like PIP (Program Indonesia Pintar).JEL Classification: I26, I38]]>
