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INDONESIA
Signifikan : Jurnal Ilmu Ekonomi
ISSN : 20872046     EISSN : 24769223     DOI : 10.1016
Core Subject : Economy,
Arjuna Subject : -
Articles 407 Documents
The Effect of Financial Deepening on Economic Growth in Indonesia Astutik, Yanti; Nugroho, Ris Yuwono Yudo
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 2 (2024)
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.v13i2.41998

Abstract

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
The Effects of Digital Economy on Inclusive Growth in Selected African Countries Dakwal, Solomon Mangut; Okwanya, Innocent; Ogiri, Aisha I.
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 2 (2024)
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.v13i2.41545

Abstract

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
Determinants of Paying Zakat Through E-Zakat in Tarakan Ichsan, Nurul; Fuadiyah, Hilmatul
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024)
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.v13i1.40942

Abstract

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
Education and Mediated Effects on Economic Development of Indonesia Jumhur, Jumhur
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 2 (2024)
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.v13i2.40929

Abstract

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
Impact of Covid-19 Vaccination and Financial Policies on Indonesia’s Property Loan Growth Forestryani, Veniola; Prastyo, Dedy Dwi
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024)
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.v13i1.37419

Abstract

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  
Depreciation and Trade Balance: An Exploration of the J-Curve Phenomenon in Indonesia Mashilal, Mashilal; Pambudi, Rakhmat Dwi
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024)
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.v13i1.40972

Abstract

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
The Impact of Internet Access Contributing to Farmers' Welfare in Indonesia: A Case Study Based on National Socio-Economic Survey Wardhana, Adhitya; Fauzy, M. Zidan; Anggana, Adrian Kevianta; Kharisma, Bayu
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 2 (2024)
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.v13i2.43188

Abstract

Research Originality: This study highlights the transformative role of digitalization, particularly the use of internet networks and mobile phones, in addressing these challenges and enhancing the welfare of farmers.Research Objectives: This research aims to analyze the impact of internet usage on farmers' welfare in Indonesia. Specifically, it examines how access to digital tools can bridge the knowledge gap in the agricultural sector and improve economic outcomes, focusing on regional disparities between Western and Eastern Indonesia.Research Methods: This study uses National Socio-Economic Survey (Susenas) data and the ordered probit model with marginal effects.Empirical Results: Farmers in the upper-middle expenditure group can leverage the Internet and mobile phones to access production information, markets, and farm credit, supported by better finances and education. In contrast, low-income farmers, particularly in eastern Indonesia, face barriers such as costs, limited infrastructure, and low digital literacy, hindering technology adoption to improve welfare.Implications: The government is expected to address this digital divide by accelerating the development of internet infrastructure in rural areas, improving digital literacy, subsidizing technological devices, and developing accessible agricultural applications.JEL Classification: D6, I24, L86, Q12
Unintended Beneficiaries: Examining 3 kg LPG Consumption Among Upper-Middle-Class Households in Bali Pardita, Dewa Putu Yudi; Purnami, Anak Agung Sri; Putra, I Komang; Darma, I Ketut
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 2 (2024)
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.v13i2.42534

Abstract

Research Originality: This study investigates the consumption patterns and awareness of 3 kg LPG subsidy policies among upper-middle-class households in Bali, a relatively unexplored area in energy subsidies and consumer behavior.Research Objectives: To examine the effects of income, price, and practicality on awareness and consumption of 3 kg LPG and evaluate whether awareness mediates these relationships.Research Methods: A mixed-methods approach combines quantitative survey data with qualitative interview insights. Structural Equation Modeling (SEM) analyzes quantitative relationships, while qualitative findings provide contextual depth.Empirical Results: Income does not affect awareness, while price and practicality had a significant positive impact. However, income, price, and practicality had adverse but insignificant effects on 3 kg LPG consumption. Awareness did not mediate the relationships between income, price, practicality, and consumption.Implications: Policymakers should improve subsidy distribution, strengthen public education campaigns, and promote alternatives like induction stoves to reduce dependence on subsidized LPG. JEL Classification: D12, H23, L95, Q41, Q48
Stunting and Baby’s Milk: Evidence from Indonesia Maulana, Muhammad; Herawati, Noknik Karliya; Wijaya, Miryam B Lilian
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 1 (2024)
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.v13i1.38624

Abstract

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
Enhancing Competitiveness of Indonesian Culinary SMEs: The Role of Entrepreneurial Networks, Entrepreneurial Bricolage, and Frugal Innovation Alamanda, Dini Turipanam; Anggadwita, Grisna; Profityo, Werda Bagus Profityo Bagus; Kurniati, Dinar Mariam
Signifikan: Jurnal Ilmu Ekonomi Vol 13, No 2 (2024)
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.v13i2.41206

Abstract

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