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<![CDATA[Profit-Sharing and Economic Growth: The Indonesian Experience ]]>
<![CDATA[Ibrahim, Zaini]]>;
<![CDATA[Fajri, Muhammad]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.33636
<![CDATA[Research Originality: The research's originality investigated the causal relationship between profit-sharing schemes (saving and financing) and economic growth.Research Objectives: This study aimed to examine the effect of profit-sharing schemes in Islamic banking on Indonesia’s economic growth, both in the short and long term. Another objective was investigating the causal relationship between profit-sharing schemes and economic growth.Research Methods: This study used two models: the risk-sharing deposit (RSD) and the profit-and-loss-sharing financing (PLS). It used secondary data from the Financial Services Authority of the Republic of Indonesia, Bank Indonesia (BI), and the Central Bureau of Statistics of the Republic of Indonesia. It also used Nonlinear Autoregressive Distributed Lag (NARDL), Error Correction Model (ECM), and Granger Causality methods to analyze quarterly data for the 2009Q1-2022Q4 period.Empirical Results: The results showed that profit-sharing schemes did not have a significant effect on Indonesia's economic growth in the short-term and long-term because the probability figure was more than 10%. This study obtained new findings, showing that the relationship between the RSD instrument and economic growth followed the feedback hypothesis. Implications: The results of this study had implications for Islamic banking efforts to increase efficiency, improve regulations, and reallocate financing.JEL Classification: G21, O47]]>
<![CDATA[Technology Transfer of Rural Entrepreneurship Digitization to Regional Economic Growth ]]>
<![CDATA[Prasetyo, P Eko]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.38046
<![CDATA[Research Originality: The digital technology transfer in rural entrepreneurship is a knowledge-based solidarity socio-economic (SSE) innovation that drives regional economic growth and reduces inequality.Research Objectives: This study aims to analyze the role of digitalization technology transfer in entrepreneurship on regional economic growth, inequality mitigation, and other related resource factors.Research Methods: The study approach model used a mixed methods design through exploratory and explanatory stages. The data were analyzed quantitatively descriptively with the standard multiple regression tool. The operational variables were measured using the Gini ratio index.Empirical Results: The results showed that digitalization technology transfer encourages regional economic growth. However, the positive role created has not reduced the negative impact and inequality. This inequality could be mitigated by the innovation of the community's social solidarity economic system (SSE). There are indications of the potential of local community wisdom to strengthen informal institutions in society.Implications: Utilizing the community's potential and the SSE model could provide added value for the community's welfare.JEL Classification: O14, O47, P25]]>
<![CDATA[Regional Convergence and Spatial Shift-Share Analysis of Labor Productivity in Indonesia ]]>
<![CDATA[Wahyuni, Ribut Nurul Tri]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.39092
<![CDATA[Research Originality: This study offers a new method to analyze district labor productivity in Indonesia.Research Objectives: This study examines the convergence of district labor productivity in Indonesia and the role of structural change in this district labor productivity growth.Research Methods: This study uses spatial convergence and spatial shift-share analysis. This study collected data from BPS-Statistics Indonesia at the district level between 2010 and 2022.Empirical Results: Labor productivity in Indonesia exhibits convergence. Neighbor districts' characteristics, such as initial labor productivity and unobserved variables, affect this convergence. The intrasectoral component has the most significant effect on labor productivity growth. The intersectoral component, caused by structural change, has almost no effect.Implications: The Indonesian government can improve intrasectoral productivity growth to accelerate labor productivity development.JEL Classification: C21, E24, R11]]>
<![CDATA[Foreign Debt: Causes and Theirs Impact on Economic Growth in Indonesia ]]>
<![CDATA[Anggresta, Vella]]>;
<![CDATA[Subiyantoro, Heru]]>;
<![CDATA[Astuty, Pudji]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.40681
<![CDATA[Research Originality: This study presents a new analysis of the primary determinants of Indonesia's foreign debt and its impact on economic growth over the 1992-2022 period, offering new insights into debt management strategies.Research Objectives: This study uses 31 years of time series data to analyze the main causes of Indonesia's foreign debt and its effect on economic growth.Research Methods: This research employs a quantitative approach with data analysis techniques, including classical assumptions, Ordinary Least Squares (OLS), simple linear regression, and hypothesis testing.Empirical Results: The results indicate that interest rates do not significantly affect Indonesia's foreign debt, while exchange rates and imports have substantial impacts. Additionally, a significant relationship between foreign debt and economic growth is confirmed.Implications: This study suggests that the Indonesian Government should adopt a multifaceted approach to managing foreign debt, including policies aimed at maintaining low interest rates, strengthening the rupiah, boosting exports, and enhancing government spending efficiency without excessive reliance on external borrowing.JEL Classification: F34, F43, H63, O11]]>
<![CDATA[Welfare Tendency Probability: A Study on Poor Households in Indonesia ]]>
<![CDATA[Rachmawati, Lucky]]>;
<![CDATA[Cahyono, Hendry]]>;
<![CDATA[Azhar, Nur Azirah Zahida Binti Muhammad]]>;
<![CDATA[Othman, Norashida]]>;
<![CDATA[Shakil, Nurul Syifaa Mohd]]>;
<![CDATA[Arisetyawan, Kukuh]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.40800
<![CDATA[Research Originality: Poverty is an important issue in the discussion of economic development. The problem of household poverty in Indonesia is not enough to be analyzed at the macro level; it should also be analyzed in microeconomic settings. Research Objectives: This study uses secondary data sourced from the results of the Indonesian Family Life Survey (IFLS) surveys in 2007 and 2014 to determine the trends in household characteristics (social, economic, and demographic) and their influence on the level of welfare of poor households, the share of household spending inequality, and poverty alleviation strategies through a household-based policy approach in Indonesia.Research Methods: Meanwhile, the research method used is Multinomial Logistic Regression.Empirical Results: The results of the study found that the education level of the head of the household, place of residence, and household size contributed to the value of the opportunity of the household welfare position in each category. Meanwhile, Javanese have the highest level of inequality in terms of ethnic expenditure distribution and the lowest in terms of welfare.Implications: This study implies that the condition of the head of the family dramatically influences welfare at the household level.JEL Classification: C49, O11, Q01, R58]]>
<![CDATA[Education and Mediated Effects on Economic Development of Indonesia ]]>
<![CDATA[Jumhur, Jumhur]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.40929
<![CDATA[Research Originality: This research lies in its comprehensive approach. It utilizes Structural Equation Modeling (SEM) to analyze education levels' direct and indirect impacts on economic growth through various economic indicators.Research Objectives: This study investigates the impact of primary, secondary, and tertiary education levels on Indonesia’s economic growth, specifically examining the mediating effects of Foreign Direct Investment (FDI), credit, exports, and unemployment.Research Methods: The data from the World Development Indicators (WDI) for 2015-2023 offer a long-term perspective on the trends in education and economic performance in Indonesia.Empirical Results: The empirical results indicate that none of the mediators significantly influence the relationship between education levels and Gross Domestic Product (GDP) growth. These challenging conventional theories predict a positive impact of education on economic development. This outcome suggests a potential misalignment between Indonesia’s educational outputs and labor market demand, underscoring the need for policy reforms.Implications: The study implies that to foster meaningful economic growth, Indonesian education policy should enhance curriculum relevance and align educational outcomes with key market needs.JEL Classification: I25, F21, J64]]>
<![CDATA[Price Smoothing Behavior of Cigarette Firms in Indonesia ]]>
<![CDATA[Putra, Amin Dwinta]]>;
<![CDATA[Adrison, Vid]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.40957
<![CDATA[Research Originality: This research analyzes the price-smoothing behaviors of cigarette firms across various cigarette types, firm classifications, and government policies by using quarterly data at the brand level.Research Objectives: This research aims to identify the price-smoothing tendencies of cigarette firms in Indonesia by analyzing the change in market retail price across various cigarette types and firm classifications and the impact of government policies.Research Methods: This research used quarterly market retail price survey data covering all cigarette brands available in Indonesia from March 2014 to June 2021. The System Generalized Method of Moments (System GMM) was identified as the optimal estimation method.Empirical Results: The results showed that cigarette firms in Indonesia employed price-smoothing strategies in response to implementing the tariff increase policy. Notably, substantial price increases tend to occur in December, immediately following the announcement of the tariff increase policy. Removing one of the ceiling price criteria has led to an increase in the average price of cigarettes within the specified criteria. The implementation of a minimum price had no significant impact on price changes.Implications: This study's findings suggest that to address the issue of rising smoking prevalence, the government should consider implementing a more substantial tariff increase to counteract the impact of price-smoothing.JEL Classification: H24, H31, H32, I18]]>
<![CDATA[Enhancing Competitiveness of Indonesian Culinary SMEs: The Role of Entrepreneurial Networks, Entrepreneurial Bricolage, and Frugal Innovation ]]>
<![CDATA[Alamanda, Dini Turipanam]]>;
<![CDATA[Anggadwita, Grisna]]>;
<![CDATA[Profityo, Werda Bagus Profityo Bagus]]>;
<![CDATA[Kurniati, Dinar Mariam]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.41206
<![CDATA[Research Originality: This study comprehensively analyzes entrepreneurial networks, bricolage, and frugal innovation within the context of Indonesian culinary SMEs.Research Objectives: This study explores how entrepreneurial networks, entrepreneurial bricolage, and frugal innovation contribute to improving the competitiveness of SMEs in Indonesia's culinary sector.Research Methods: Data analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM) with a total of 100 culinary SMEs across various regions of Indonesia.Empirical Results: This study reveals that while entrepreneurial networks do not directly impact competitiveness, they play a crucial role in fostering entrepreneurial bricolage and frugal innovation. These two constructs, in turn, significantly enhance the competitiveness of SMEs.Implications: This research provides insights on how SMEs in emerging economies can harness resourcefulness and innovation to sustain growth and competitiveness.JEL Classification: L14, L26, O31, O32]]>
<![CDATA[The Effects of Digital Economy on Inclusive Growth in Selected African Countries ]]>
<![CDATA[Dakwal, Solomon Mangut]]>;
<![CDATA[Okwanya, Innocent]]>;
<![CDATA[Ogiri, Aisha I.]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.41545
<![CDATA[Research Originality: The originality of this work is the inclusion of more variables that are used to develop the digital economy index, which is a more accurate representation of the digital economy in Africa. Also, instead of capturing the inclusive growth with a single variable such as HDI, GDP per capita, or RGDP per person employed, as seen in previous studies, this study adds to the body of literature by creating an inclusive growth index using the four key indicators of inclusive growth.Research Objective: This study investigates the effect of the digital economy on inclusive growth in selected African countries.Research Methods: The study employed longitudinal panel data sourced from the world development indicators and was analyzed using the Arellano and Bond (1991) system Generalized Method of Moments (SGMM), a dynamic panel data model that handles endogeneity, unobserved heterogeneity, and autocorrelation.Empirical Results: The findings demonstrated a positive and significant effect of the digital economy on inclusive growth in the countries studied. The effects of the digital economy are more visible in lower—and lower-middle-income (LI and LMI) countries than in upper-middle-income (UMI) African countries.Implications: These findings imply that improving investments in internet infrastructure and fostering a technology-driven economy can help Africa achieve more robust inclusive growth.JEL Classification: O3, O4, C31]]>
<![CDATA[The Effect of Financial Deepening on Economic Growth in Indonesia ]]>
<![CDATA[Astutik, Yanti]]>;
<![CDATA[Nugroho, Ris Yuwono Yudo]]>
<![CDATA[ Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024) ]]>
Publisher : <![CDATA[Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah ]]>
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DOI: 10.15408/sjie.v13i2.41998
<![CDATA[Research Originality: This study presents a new interaction between the independent variable financial deepening by adding the inflation control variable as a monetary variable, trade openness and remittances as non-monetary variables, and a dummy variable to see the influence of the pandemic period and not the COVID-19 pandemic period on economic growth.Research Purposes: This research aims to determine the effect of financial deepening on economic growth in Indonesia.Research Methods: This research uses quarterly time series data in Indonesia from 2010-2023 and selects an Error Correction Model (ECM) and Robustness Test model.Empirical Results: Research findings show that financial deepening in the long term and short term has a negative effect on economic growth. This happens because financial deepening in Indonesia is still relatively low, at around 40 percent. The trade openness and remittance variables have a positive effect on economic growth, while the dummy COVID-19 variable in the long term has a negative effect on economic growth.Implications: This study implies that the government needs to improve effective coordination in facing challenges in the financial sector and set targets to encourage financial deepening so that financial inclusion can be achieved.JEL Classification: O10, O44, C32, E31, F13, F24]]>
