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INDONESIA
Signifikan : Jurnal Ilmu Ekonomi
Published by Universitas Islam Negeri Syarif Hidayatullah Jakarta
ISSN : 20872046     EISSN : 24769223     DOI : 10.1016
Core Subject : Economy,
Economics, Econometrics & Finance
Arjuna Subject : -
Articles 20 Documents
 1   2 
Search results for , issue "vol. 15 no. 2 (2026)" : 20 Documents clear
From Depositors’ Confidence to Credit Stability: The Role of Deposit Insurance Chandra Utama
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.46602

Abstract

Research Originality: This study assesses the impact of deposit insurance on depositors’ confidence and credit stability, incorporating gap dynamics, crisis phases (pre-, during, and post-COVID-19), and bank ownership heterogeneity. Research Objectives: This study examines the effect of deposit insurance on depositor confidence and its implications for deposit stability, and the impact of deposit stability on banks’ confidence in credit allocation. Research Methods: Three datasets- monthly macroeconomic time-series data (January 2002–May 2023) and two panel datasets covering October 2005–May 2023 and March 2012–May 2023 are estimated using PLS and OLS. Empirical Results: Deposit insurance effectively stabilizes depositor confidence, especially at private institutions. Throughout the COVID-19 pandemic, deposit insurance became increasingly critical in maintaining market sentiment. This stability in depositor confidence drives deposit accumulation, which in turn catalyzes credit supply both during and after crises. Additionally, findings suggest that depositor behavior and bank stability are sensitive to domestic and global economic fluctuations. Implications: The study recommends strengthening deposit insurance institutions and improving coordination among institutions to stabilize deposits, credit, and the financial system. JEL Classification: G21, G22, G28, E32 How to Cite:Utama, C. (2026). From Depositors’ Confidence to Credit Stability: The Role of Deposit Insurance. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 421-436. https://doi.org/10.15408/sjie.v15i2.46602.
Government Spending Efficiency in BRICS Countries: Implications for Indonesia’s Accession Novita Berliana Bistyantri; Lulus Kurniasih
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.46845

Abstract

Research Originality: This study assesses Indonesia's move to join the BRICS as a pragmatic economic strategy through an efficiency analysis and an empirical comparison. Data Envelopment Analysis (DEA) is used to measure government spending efficiency, and panel data analysis is used to compare fiscal performance across BRICS countries. Research Objectives: The research seeks to analyze how government effectiveness (GE), corruption perception index (CPI), trade openness (TO), and industrial value added (IND) shape government spending efficiency (GSE) across BRICS countries during the 2000–2023 period. Research Methods: A two-stage approach is used: DEA estimates fiscal efficiency, while panel regression identifies its determinants. Empirical Results: Empirical findings reveal that Indonesia consistently maintained strong fiscal efficiency, outperforming several original BRICS members even prior to its accession. The determinants of efficiency varied between periods: from 2000 to 2009, GE, CPI, and TO positively influenced GSE, while IND had a negative association. In contrast, from 2010 to 2023, GE and TO exerted adverse effects. Implications: These findings suggest that maintaining fiscal efficiency in Indonesia depends on enhancing governance quality and strengthening industrial competitiveness. JEL Classification: C67, H11, H50 How to Cite:Bistyantri, N. B., & Kurniasih, L. (2026). Government Spending Efficiency in BRICS Countries: Implications for Indonesia’s Accession. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 437-452. https://doi.org/10.15408/sjie.v15i2.46845.
Technological Advances and Knowledge-Based Economy on Labor Absorption: Evidence in Indonesia Sri wahyuny Mustafa; I Ketut Patra; Jusman; Halim Usman; Adya Utami Syukri
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.47274

Abstract

Research Originality: This study develops an integrated model to examine the direct and indirect effects of technological advances and the knowledge-based economy on labor absorption through private investment and human capital. Research Objectives: This study aims to analyze the direct and indirect impacts of technology and the knowledge-based economy on labor absorption, with private investment and human capital development as mediating mechanisms, and to formulate an integrated policy framework to improve labor absorption. Research Methods: Three-Stage Least Squares (3SLS) estimation of a three-equation simultaneous system using provincial panel data from 34 Indonesian provinces from 2015 to 2024. Empirical Results: Technological progress and knowledge-based economy development stimulate labor absorption through direct effects and substantial indirect pathways via private investment and human capital accumulation. Private investment signals skill requirements to education systems; human capital attracts further investment through productivity enhancement. Implication: Coordinated multi-sector policies integrating technology adoption, private investment incentives (tax breaks, technology parks), dramatic expansion of vocational education, knowledge-based economy infrastructure, regionally differentiated approaches, and integrated labor market monitoring systems. JEL Classification: J20, J24, O33 How to Cite:Mustafa, S. W., Patra, I. K., Jusman., Usman, H., & Syukri, A. U. (2026). Technological Advances and Knowledge-Based Economy on Labor Absorption: Evidence in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 501-514. https://doi.org/10.15408/sjie.v15i2.47274.
State Political Risk and Industrial Performance: Evidence from Sub-Saharan Africa Tarisai Nomore Madyangove; Jahen Fachrul Rezki
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.49642

Abstract

Research Originality: This study offers an original external instrumental variable (IV) analysis of the causal link between state political risk and industrialization in Sub-Saharan Africa, using constitutionally fixed executive elections as a novel instrument. Research Objectives: This study tests the hypothesis that state-sanctioned violence negatively impacts industrial growth in Sub-Saharan Africa. Research Methods: This study employs a Two-Stage Least Squares (2SLS) model on a panel of 30 African countries (2000–2023). State political risk is measured by the Political Terror Scale, which captures state-sanctioned violence and is instrumented by fixed election timing. Industrial value-added growth is the dependent variable. Empirical Results: We find no statistically significant causal effect of state-sanctioned violence on industrial growth. This null result is robust across 2SLS, Limited Information Maximum Likelihood(LIML), and GMM estimators. Implications: Industrial policy in moderately unstable African contexts should prioritize core economic and regulatory constraints over broad political risk mitigation. The findings point to significant industrial resilience. JEL Classification: P00, D72, O14, C36, O55 How to Cite:Madyangove, T. N., & Rezki, J. F. (2026). State Political Risk and Industrial Performance: Evidence from Sub-Saharan Africa. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 453-470. https://doi.org/10.15408/sjie.v15i2.49642.
Economic Agglomeration and District-Level Carbon Emissions in Indonesia Ryvanu Adi Nugroho; Djoni Hartono
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.50229

Abstract

Research Originality: This study contributes to the literature by incorporating employment density as a proxy of economic agglomeration into an extended STIRPAT framework to examine its nonlinear relationship with district-level carbon emissions in Indonesia. Research Objectives: This study aims to investigate whether economic agglomeration promotes emission efficiency or intensifies environmental pressure, and to identify potential nonlinear dynamics across Indonesian districts. Research Methods: This study employs a balanced panel dataset of 514 districts and municipalities in Indonesia over the period 2017–2024. A two-way fixed-effects model is estimated within an extended STIRPAT framework, with a quadratic specification to capture nonlinear effects. Empirical Results: The results indicate that economic agglomeration is associated with lower carbon emissions per capita, suggesting efficiency effects. However, the nonlinear estimation reveals a U-shaped relationship: agglomeration reduces emissions at lower levels but increases environmental pressure beyond a threshold. The findings also indicate substantial regional heterogeneity. Implications: The results suggest that agglomeration does not inherently lead to environmental improvements. Differentiated policies should strengthen regional growth and efficiency in low-density areas while prioritizing low-carbon transitions and congestion mitigation in dense regions. JEL Classification: Q56, R12, O18 How to Cite:Nugroho, R.A. & Hartono, D. (2026). Economic Agglomeration and District-Level Carbon Emissions in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 471-486. https://doi.org/10.15408/sjie.v15i2.50229.
Microenterprise Sustainability in Islamic Microfinance Mohamad Bastomi
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.50242

Abstract

Research Originality: This study fills a gap in prior research by jointly examining Islamic financial literacy, intellectual capital, and working capital in Baznas Microfinance Desa and by testing financial performance as the mechanism through which these factors sustain microenterprises. Research Objectives: This study analyzes the determinants of microenterprise sustainability among Baznas Microfinance Desa partners in East Java, Indonesia. Research Methods: Using a quantitative explanatory design, data were collected from 285 respondents through five-point Likert-scale questionnaires and analyzed with PLS-SEM. Empirical Results: Islamic financial literacy, intellectual capital, and working capital significantly enhance financial performance and microenterprise sustainability. Working capital shows the strongest contribution, while financial performance has the largest direct effect on sustainability and significantly mediates the relationships between the three determinants and sustainability. Implications: Islamic microfinance programs should prioritize working-capital management while strengthening Islamic financial literacy and capability-oriented mentoring to build intellectual capital, as these factors improve financial performance and, in turn, sustain microenterprises. JEL Classification: D14, G21, G32, L25 How to Cite:Bastomi, M. (2026). Microenterprise Sustainability in Islamic Microfinance. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 615-626. https://doi.org/10.15408/sjie.v15i2.50242.
Economic Growth Mediates the Effects of Socioeconomic Factors and Reduces Stunting in Indonesia Maman Sulaeman; Khalid Eltayeb Elfaki
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.50243

Abstract

Research Originality: This study offers original insights by examining the multifactorial determinants of stunting in Indonesia, with particular focus on the roles of social food assistance, food insecurity, public literacy, unemployment, and economic productivity within a panel data framework. Research Objectives: This study aimed to analyze the effects of social food assistance, food insecurity, public literacy, unemployment, and economic productivity on the prevalence of stunting in Indonesia. Research Methods: This study employs a quantitative approach using panel data for 34 Indonesian provinces from 2018 to 2022. The analysis used regression models to evaluate both direct and indirect relationships among the variables. Empirical Results: The findings indicate that literacy, social food assistance, food security, and economic growth significantly reduce stunting rates. Unemployment does not directly affect stunting, but it does so indirectly through its impact on economic growth. Additionally, literacy, food assistance, and food security positively affect economic growth, whereas unemployment has a minimal direct impact. Economic growth is an important mediating variable for reducing stunting. Implications: These results suggest that reducing stunting in Indonesia requires integrated policies that combine social food assistance with improvements in literacy, food security, and economic development. Policymakers should prioritize cross-sectoral strategies, including nutrition education and economic empowerment, to effectively address stunting. JEL Classification: I5, I38, O15, O18 How to Cite:Sulaeman, M., Elfaky, K.E. (2026). Economic Growth Mediates the Effects of Socioeconomic Factors and Reduces Stunting in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 391-406. https://doi.org/10.15408/sjie.v15i2.50243.
The Impact of Remittance Inflows on Economic Growth: Evidence from Asian Countries Very Budiyanto; Wasiaturrahma Wasiaturrahma; Wisnu Wibowo
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.50455

Abstract

Research Originality: The originality of this research stems from its extended observation period, the inclusion of detailed macroeconomic control variables, and the analysis of both immediate and sustained effects of remittances on economic growth. Research Objectives: This study aims to analyze the impact of remittances on economic growth in 22 Asian countries over the period 2004–2023. Research Methods: This study employs a panel data approach using the Generalized Method of Moments (GMM) to address econometric issues such as endogeneity and unobserved heterogeneity, while incorporating variables including foreign direct investment, inflation, population growth, education, household consumption, government expenditure, and exports. Empirical Results: The findings indicate that remittances have a positive effect on economic growth in both the short- and long-run. However, the short-run impact is not always statistically significant. Exports and inflation show positive effects, whereas foreign direct investment and education show negative effects in some specifications. Implications: These results suggest that remittances play an important role as a complementary source of development financing in Asian economies, and policymakers should encourage their productive use to strengthen sustainable economic growth. JEL Classification: F24, O11, C23, E31 How to Cite:Budiyanto, V., Wasiaturrahma., & Wibowo, W. (2026). The Impact of Remittance Inflows on Economic Growth: Evidence from Asian Countries. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 407-xx. https://doi.org/10.15408/sjie.v15i2.50455.
Sustainable Regional Economic Development through Cultural and Human Capital: Evidence from Indonesia Arasy Panji Wibisono; Sarjiyanto Sarjiyanto
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.50459

Abstract

Research Originality: This study offers novel insights by examining the mediating role of human capital in the relationship between cultural capital and regional economic development in Indonesia. Research Objectives: This study aims to examine the effect of cultural capital on Regional economic development and to investigate the mediating role of human capital in the relationship between cultural capital and regional economic development. Research Methods: This study employs panel data regression analysis using the Fixed Effects Model (FEM) and path analysis across 34 Indonesian provinces over the period 2019–2023. Empirical Results: The findings indicate that cultural capital positively affects regional economic development. Cultural tourist attractions and intangible cultural heritage do not have a significant effect on regional economic development. Furthermore, human capital plays a significant moderating role in the relationship between cultural capital and regional economic development, suggesting that cultural capital contributes more effectively to regional development. Implications: This study suggests that policymakers should continue to preserve and strengthen existing cultural capital across regions to improve access to public services and enhance living conditions. Ultimately, such an approach can support sustainable economic development. JEL Classification: C23, R11, O10, O15, Z10 How to Cite:Wibisono, A. P., & Sarjiyanto. (2026). Sustainable Regional Economic Development through Cultural and Human Capital: Evidence from Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 487-500. https://doi.org/10.15408/sjie.v15i2.50459.
Spatial Distribution and Cluster Analysis of Zakat Allocation: Identifying Hotspots and Coldspots R.R. Tini Anggraeni; Hermanto Siregar; Bambang Juanda; Irfan Syauqi Beik
Signifikan: Jurnal Ilmu Ekonomi Vol. 15 No. 2 (2026)
Publisher : Faculty of Economic and Business, Universitas Islam Negeri Syarif Hidayatullah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/sjie.v15i2.50477

Abstract

Research Originality: This study applies spatial autocorrelation to assess the efficiency of zakat distribution, highlighting hotspot–coldspot patterns and proposing a spatially aligned framework to reduce regional disparities and support inclusive development. Research Objectives: This study analyzes the spatial patterns of zakat distribution and their implications for distribution efficiency and reducing regional inequality. Research Methods: Spatial autocorrelation analysis was conducted using Moran's I, Local Indicators of Spatial Association (LISA), and Getis–Ord Gi* to identify spatial linkages among regions. Empirical Results: The results indicate significant spatial clustering in zakat distribution, with hotspots concentrated in urban and economic centers due to strong institutional capacity, while coldspots are found in remote areas with high poverty and weak institutions, potentially reinforcing spatial inequality. Implications: These findings emphasize the importance of spatial mapping as the basis for region-based zakat distribution. Overall, zakat has the potential to become a strategic instrument for reducing inequality and driving inclusive economic development if it is integrated into evidence-based regional development policies. JEL Classification: F21, O16, O53, C23 How to Cite:Anggraeni, R.R. T., Siregar, H., Juanda, B., & Beik, I. S. (2026). Spatial Distribution and Cluster Analysis of Zakat Allocation: Identifying Hotspots and Coldspots. Signifikan: Jurnal Ilmu Ekonomi, 15(2), 601-614. https://doi.org/10.15408/sjie.v15i2.50477.

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