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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 Impact of Digital Technology on Environmental Quality: Empirical Evidence from Indonesia Kartiasih, Fitri; Rosanti, Hanifah Putri; Miswa, Sabrina Do; Hakim, Arif Rahman
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.44874

Abstract

Research Originality: This research investigates how digital technologies influence environmental quality in Indonesia.Research Objectives: This study examines the impact of digital technologies and socioeconomic variables on environmental quality in Indonesia.Research Methods: This study employs the System-Generalized Method of Moments (GMM) approach and analyzes data from 2013 to 2023. Key variables include digital technology, gross regional domestic product (GRDP), foreign direct investment (FDI), and mean years of schooling.Empirical Results: Computer ownership negatively impacts environmental quality due to higher energy consumption and e-waste. In contrast, GRDP improves environmental quality as wealthier regions invest in green infrastructure and stricter policies. FDI has a harmful effect, supporting the ‘pollution haven’ hypothesis of resource exploitation and unsustainable practices. Education fosters environmental awareness, though its influence is still limited.Implications: Digital technologies can enhance environmental quality, requiring strategic planning and continuous innovation by central and local governments.JEL Classification: O11, O13, Q56How to Cite:Kartiasih, F., Rosanti, H.P., Miswa, S.D., & Hakim, A.R. (2025). The Impact of Digital Techonologies on Environmental Quality: Empirical Evidence from Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 77-92. https://doi.org/10.15408/sjie.v14i2.44874.
Dynamic Analysis on the Determinants of Prevalence of Undernourishment in Indonesia: A System GMM Approach Geubrina, Yulia; Suriani, Suriani; Seftarita, Chenny
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.42524

Abstract

Research Originality: This original study examines the determinants of undernourishment in Indonesia with mediating variables.Research Objectives: This study examines the impact of food production, inflation, unemployment, and social food assistance on undernourishment with people's purchasing power as a mediating variable.Research Methods: Dynamic panel analysis with the Generalized Method of Moment (GMM) and Sobel test examines direct and mediation relationships for the data period 2018-2023.Empirical Results: The results show the direct and indirect effects of inflation, unemployment, and social food assistance on the prevalence of undernourishment in Indonesia through the mediation of people’s purchasing power. Meanwhile, food production has no effect either directly or indirectly.Implications: This study implies that the government must maintain stable inflation, create jobs, effectively target food assistance, and reduce reliance on social food assistance.JEL Classification: C31, G21, I32, O18How to Cite:Geubrina, Y., Suriani., & Seftarita, C. (2025). Dynamic Analysis on the Determinants of Prevalence of Undernourishment in Indonesia: A System GMM Approach. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 111-130. https://doi.org/10.15408/sjie.v14i1.42524.
The Impact of Central Bank Policy Mix on Banking Risk Behavior Wijaya, Miryam B Lilian; Wibisana, Gema Adi; Utama, Chandra
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.41334

Abstract

Research Originality: The study investigates the impact of a coordinated policy mix on Banking Risk Behavior in creating credit.Research Objectives: This research aims to determine the effect of the policy mix on lending and the role of risk behavior in Indonesia.Research Methods: We use the Structural Vector Autoregression (SVAR) estimation technique for data 2012Q1-2021Q3.Empirical Results: The study found that monetary policy does not affect credit directly through credit interest rates. Monetary policy affects credit indirectly through its ability to influence an internal variable of banks and strengthen it through interaction with macroprudential policies. The study found that deposit and capital determine the amount of credit disbursed. The study results found that the policy mix of monetary and macroprudential policies effectively influenced recognition in Indonesia. Mixed policies reinforce one another.Implications: To manage bank risk behavior in distributing credit, a mix of monetary and macroprudential policies is needed. When coordinated, both policies reinforce each other and are more effective than when done separately.JEL Classification: E52, E580, E510How to Cite:Wijaya, M. B. L., Wibisana, G. A. & Utama, C. (2025). The Impact of Central Bank Policy Mix on Banking Risk Behavior. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 1-16. https://doi.org/10.15408/sjie.v14i1.41334
Road Infrastructure and Local Economic Activity: Insight from Mobility Data Kustanto, Raditya Yudhan; Mahi, Benedictus Raksaka
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.42955

Abstract

Research Originality: This research measures local economic activity through a mobility approach, using Google Mobility Report (GMR) data across all provinces in Indonesia. Measuring economic activity using conventional macro indicators, such as GDP, has limitations due to lengthy collection processes.Research Objectives: This study aims to determine the impact of road infrastructure on local economic activity using data from the GMR in categories such as Retail and recreation, Grocery and pharmacy, Parks, and Workplaces.Research Methods: This study uses panel data on the GMR, Ministry of Public Works and Public Housing, Ministry of Finance, and Central Bureau of Statistics from 2019–2022, which is analyzed using fixed-effect methods.Empirical Results: The results show a positive effect of road infrastructure on Retail and recreation and Grocery and pharmacy but a negative impact on Workplaces, likely due to the shift to remote work during COVID-19.Implications: These findings suggest that the government should prioritize road construction in areas that enhance economic activity. However, road construction in the Workplaces area still needs to be considered in line with the recovery of activities after the pandemic ends.JEL Classification: H54, R11, R42How to Cite:Kustanto, R.Y., & Mahi, B.R. (2025). Road Infrastructure and Local Economic Activity: Insight from Mobility Data. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 17-36. htttps://doi.org/10.15408/sjie.v14i1.42955.
Dynamic Panel Data Analysis of Income Inequality in Indonesia Syafitri, Allichia Errika; Endang, Endang; Susilo, Joko Hadi
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.44943

Abstract

Research Originality: This study examines the short-term and long-term relationships between macroeconomic variables and income inequality, adopting a broader approach than previous research, which has primarily focused on partial and simultaneous influences on income inequality.Research Objectives: This study aims to analyze the dynamic variables that affect income inequality in Indonesia.Research Methods: This study uses panel data from 34 provinces in Indonesia from 2015 to 2023 and employs the Generalized Method of Moments Arellano Bond (GMM-AB) approach. This method was selected to address endogeneity and heteroscedasticity issues commonly encountered in panel data analysis.Empirical Results: The findings reveal that the Indonesian Democracy Index and the Gender Inequality Index significantly impact income inequality. Meanwhile, the ICT Development Index and the Human Development Index also exhibit significant influences. These results reinforce the argument that enhancing access to education and promoting gender equality are essential strategies for reducing income inequality.Implications: The study provides valuable insights for policymakers, emphasizing the need to strengthen democratic institutions and empower women through improved access to education and economic opportunities as key measures to mitigate income inequality.JEL Classification: D63, J16, O15, O32, P16How to Cite:Syafitri, A. E., Endang, E., & Susilo, J. E. (2025). Dynamic Panel Data Analysis of Income Inequality in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 149-162. https://doi.org/10.15408/sjie.v14i1.44943.
Examining the Model for Enhancing E-Loyalty in Digital Banks Mahfuzh, Muhammad Ady; Setyono, Joko; Riza, Alex Fahrur
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.44901

Abstract

Research Originality: This research novelty lies in applying the Stimulus-Organism-Response (S-O-R) theory to measure e-loyalty among digital banking customers in Indonesia. This approach has not been widely explored in Indonesia's digital banks' context.Research Objectives: This research evaluates e-loyalty among digital banks' customers in Indonesia using the SOR theory's direct and indirect measurement methodologies.Research Methods: The sample consists of 130 participants drawn from customers of both Islamic and conventional digital banks in Indonesia. This research applies PLS-SEM through SmartPLS software for structural model analysis.Empirical Result: The results show that e-CRM, e-trust, and e-satisfaction directly enhance e-loyalty. E-CRM and e-trust also influence e-loyalty indirectly through e-satisfaction. Moreover, e-satisfaction mediates these relationships, highlighting its crucial role in strengthening customer loyalty in Islamic and conventional digital banks.Implications: Digital banks need to enhance e-CRM by improving application features and usability to maintain customer interaction. Additionally, e-trust is crucial to continuously strengthening security systems to reduce customer concerns. Moreover, services must consistently meet or even exceed customer expectations to achieve high satisfaction and foster customer loyalty.JEL Classification: G21, M31, D91How to Cite:Mahfuzh, M. A., Setyono, J., & Riza., A. F. (2025). Examining the Model for Enhancing E-Loyalty in Digital Banks. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 247-264. https://doi.org/10.15408/sjie.v14i1.44901.
Empowering Loan Awareness: The Role of Sharī‘ah Financial Literacy, Blockchain, and Fintech Trust Sumar'in, Sumar'in; Ardi, Pahmi; Sumin, Sumin; Kusnadi, Iwan
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.44735

Abstract

Research Originality. Despite extensive research on Sharī‘ah financial literacy and fintech trust, their combined impact on illegal loan awareness remains unexplored. This study bridges that gap by analyzing their interaction in financial decision-making amid rising predatory lending, offering a novel perspective on their protective role against unethical financial practicesResearch Objectives. This study aims to examine the effect of Sharī‘ah financial literacy on awareness of illegal online loans, with blockchain technology understanding and Sharī‘ah fintech trust as mediating variables.Research Methods. An associative quantitative approach was employed, utilizing a survey of 519 Indonesian millennial Muslims, selected through simple random sampling. Data analysis was conducted using structural equation modeling (SEM) to explore the relationships among variables.Empirical Results. The findings indicate that Sharī‘ah financial literacy significantly influences blockchain understanding, fintech trust, and awareness of illegal online loans. Blockchain understanding enhances fintech trust but does not directly impact loan awareness, whereas trust in Sharī‘ah fintech positively affects awareness of illegal online lending risks.Implications. This study underscores the importance of improving Sharī‘ah financial literacy and blockchain understanding to strengthen consumer trust in Sharī‘ah fintech and raise awareness of illegal online lending risks. However, further research with broader samples is recommended to validate these findings.JEL Classification: G41, G28, O33, Z12, D83How to Cite:Sumar’in, Ardi. P, Sumin, & Kusnadi, I. (2025). Empowering Loan Awareness: The Role of Sharī‘ah Financial Literacy, Blockchain, and Fintech Trust. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 179-196. https://doi.org/10.15408/sjie.v14i1.44735.
Fiscal Sustainability and Country Risk Profile: Empirical Evidence in Indonesia Mufid, Hafizh Azka; Widyawati, Diah
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.45081

Abstract

Research Originality: This research examines fiscal sustainability by considering the fiscal behavior of different government regimes and analyzing the correlation between fiscal sustainability and a country's risk profile using the VARX method, with the real effective exchange rate (REER) as an exogenous variable.Research Objectives: This study aims first to determine whether Indonesia's fiscal conditions are sustainable across different government regimes. It then investigates whether a significant link exists between Indonesia's fiscal sustainability and its country's risk profile, as reflected by sovereign spreads from 2005 to 2024.Research Methods: This study used the Vector Autoregressive Exogenous (VARX) method to capture endogeneity, exogeneity, simultaneity, direct effects, indirect effects, and shock-response of the variables used to measure the relationship between fiscal sustainability and sovereign risk.Empirical Results: The findings indicate a significant relationship between fiscal sustainability and country risk, where an increase in the primary balance raises investor risk perception. Meanwhile, if debt management policies are implemented prudently and effectively, a rise in the debt-to-GDP ratio does not always widen the sovereign spread.Implications: These results suggest that, despite differences in government regimes, policymakers should focus on strengthening the government's ability to manage debt prudently and either generate a primary balance surplus or reduce the deficit by sustainably enhancing revenue and spending policies to maintain fiscal sustainability and lower the country's risk profile.JEL Classification: H62, H60, H63, C32How to Cite:Mufid, A.H., & Widyawati, D. (2025). Fiscal Sustainability and Country Risk Profile: Empirical Evidence in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 163-178. https://doi.org/10.15408/sjie.v14i1.45801.
Women's Micro Business Performance in Islamic Perspective: Social Learning Theory Approach Fatimah, Salsabila Husnul; Nurasyiah, Aas; Rosida, Rida
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.44739

Abstract

Research Originality: This research examines the gender gap in the economic sector, particularly women's micro-enterprises in Indonesia, which has not been widely explored. With an Islamic approach and Albert Bandura's Social Learning Theory.Research Objectives: This study aims to describe the performance of women micro-entrepreneurs from an Islamic perspective and empirically prove the influence of competence, Islamic work ethic, family support, and manager role actualization on women's micro-enterprises in Bandung City.Research Methods: This study used a quantitative method with a descriptive causality research design. The survey method collected data from 236 female micro-business owners in Bandung City. The data was processed using the Partial Least Square—Structural Equation Modeling (PLS-SEM) analysis technique. Empirical Results: The results show that, from an Islamic perspective, competence and an Islamic work ethic positively affect women's micro-enterprise performance. However, family support has a negative influence on business performance.Implications: This research makes an important contribution to understanding the dynamics of women's micro-enterprise performance from an Islamic perspective. The results can be used as a basis for developing more effective programs and policies to support women's economic empowerment through micro-enterprises.JEL Classification: L26, J16, M10, M13, O17, Z12How to Cite:Fatimah, S. H., Nurasyiah, A., & Rosida, R. (2025). Women’s Micro Business Performance in Islamic Perspective: Social Learning Theory Approach. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 217-230. https://doi.org/10.15408/sjie.v14i1.44739.
Sharia Supervisory Board and Islamic Banking Performance in Indonesia: Does Size Matter? Pessiwarisa, Jerry Adriaan; Kasri, Rahmatina Awaliyah
Signifikan: Jurnal Ilmu Ekonomi Vol 14, No 1 (2025)
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.v14i1.44740

Abstract

Research Originality: This study is amongst a few studies empirically examining the impact of the Sharia Supervisory Board's (SSB) characteristics on the financial performance of Islamic banks in Indonesia. This attribute concerns regulators and market players due to its importance in Shariah governance and Islamic banks' performance. This study encompasses both full-fledged and dual-banking Islamic financial institutions.Research Objectives: This study investigates the impact of the Sharia Supervisory Board's characteristics on the financial performance of Islamic banks in Indonesia.Research Methods: This study utilizes random-effects GLS unbalanced panel data regression analysis with panel data from 30 Islamic banks in Indonesia (13 full-fledged Islamic banks and 17 dual-banking Islamic banks) from 2018 to 2023.Empirical Results: The study highlights the pivotal role of SSB size in enhancing the financial performance of Islamic banks. The results suggest that the size of SSB has a significant positive influence on the financial performance of Islamic banks in Indonesia during the 2018- 2023 period.Implications: It provides additional rationale for the newly issued regulation regarding the SSB size in Indonesia. It also offers actionable insights into the necessity of effective governance structures to ensure the sustainable growth of Islamic banking institutions.JEL Classification: G21, G28, G34How to Cite:Pessiwarisa, J. A., & Kasri, R. A. (2025). Sharia Supervisory Board and Islamic Banking Performance in Indonesia: Does Size Matter?. Signifikan: Jurnal Ilmu Ekonomi, 14(1), 231-246. https://doi.org/10.15408/sjie.v14i1.44740.