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INDONESIA
Signifikan : Jurnal Ilmu Ekonomi
ISSN : 20872046     EISSN : 24769223     DOI : 10.1016
Core Subject : Economy,
Arjuna Subject : -
Articles 407 Documents
Economic Growth and Environmental Quality: A Study on Mineral-Rich Provinces in Indonesia Ramadanti, Sarindang Suci; Azwardi, Azwardi; Subardin, Muhammad
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 1 (2024)
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.v13i1.40285

Abstract

Research Originality: This research focuses on Indonesia's mineral-rich provinces and offers originality through its comprehensive analysis of the bidirectional relationship between economic growth and environmental quality, using the Environmental Quality Index (EQI). Research Objectives: This study examines the relationship between economic growth and environmental quality in the Mineral Economy Provinces of Indonesia.Research Methods: The data used in this research is secondary data from 2015 to 2022. The analysis method employed is the simultaneous equation model using Two Stage Least Squares (2SLS).Empirical Results: The results show that in model 1, economic growth is significantly influenced by exogenous variables such as the environmental quality index, energy consumption, revenue sharing funds, investment, and population. In model 2, environmental quality is significantly influenced by exogenous variables such as GDP, mining output, energy consumption, and forest. Good environmental quality can enhance economic growth. Conversely, increased Economic growth can degrade environmental quality.Implications: The study's findings suggest that policymakers in Indonesia's mineral economy provinces should prioritize sustainable development to balance economic growth with environmental preservation.JEL Classification: Q43, Q50, Q56
Foreign Debt: Causes and Theirs Impact on Economic Growth in Indonesia Anggresta, Vella; Subiyantoro, Heru; Astuty, Pudji
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024)
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.v13i2.40681

Abstract

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
Determinants of Foreign Direct Investment in Indonesia: Do Presidential Regimes Matter? Syamni, Ghazali; Ansari, Rizal; Majid, M. Shabri Abd; Marzuki, Marzuki; Akhyar, Chairil
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 1 (2024)
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.v13i1.40690

Abstract

Research Originality: The originality of the research is the separation of data in different governments. The request is based on the leadership style, especially in the era of President Susilo Bambang Yudhoyono and President Jokowi.Research Objectives: This study examines the determinants of foreign direct investment (FDI), both in the short and long term in Indonesia during the leadership of Presidents Susilo Bambang Yudhoyono (SBY) and Joko Widodo (Jokowi).Research Methods: This study uses time series data on the World Development Indicators website from 2004 to 2021. Using Autoregressive Distributed Lag (ARDL)Empirical Results: This study finds evidence that institutional quality, economic growth, and presidential regime in the short and long run significantly positively affect FDI. Meanwhile, the population negatively influences FDI in Indonesia in both the short and long run.Implications: These findings imply that to draw in more foreign direct investment (FDI), Indonesia must enhance institutional quality, economic growth, presidential governance, and population control.JEL Classification: F21, F43, G18, H21, R23
Adaptive Market Hypothesis: Evidence from Sharia Stocks in Asian countries Djauhari, Haikal; Rahmawati, Rahmawati; Al Arif, Muhammad Nur Rianto
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 1 (2024)
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.v13i1.40704

Abstract

Research Originality: The adaptive market hypothesis, which is a new way to test capital market performance that reconciles the efficient market hypothesis (EMH) with behavioral finance, is the focus of our research. Our study's novelty lies in testing the efficiency of the Islamic capital market in six Asian countries: Bangladesh, India, Indonesia, Malaysia, Pakistan, and Thailand, over different periods: before, during, and after the COVID-19 pandemic.Research Objectives: We aim to delve into its application in the Islamic capital market, which has seen significant growth in recent years.Research Methods: We employed the variance ratio test, the ARIMA model, and the Elman neural network to test efficiency.Empirical Result: Our findings revealed that the efficiency of sharia indices in these countries was not constant over the three periods, thereby supporting the existence of the adaptive market hypothesis.Implications: The results of this study are not only important for academic discourse but also offer practical applications for investors to refine their investment strategies, engaging the audience in a discussion on Islamic capital market efficiency.JEL Classification: G02, G14, G15
Welfare Tendency Probability: A Study on Poor Households in Indonesia Rachmawati, Lucky; Cahyono, Hendry; Azhar, Nur Azirah Zahida Binti Muhammad; Othman, Norashida; Shakil, Nurul Syifaa Mohd; Arisetyawan, Kukuh
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024)
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.v13i2.40800

Abstract

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
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, Universitas Islam Negeri Syarif Hidayatullah

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
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, Universitas Islam Negeri Syarif Hidayatullah

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
Price Smoothing Behavior of Cigarette Firms in Indonesia Putra, Amin Dwinta; Adrison, Vid
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 2 (2024)
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.v13i2.40957

Abstract

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
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, Universitas Islam Negeri Syarif Hidayatullah

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
Does Reporting of Aksi Cepat Tanggap Cases Affected Public Trust on Zakat Institutions? Pitria, Ratna Kamila; Aisy, Diamantin Rohadatul; Anggraeni, R. R. Tini
Signifikan: Jurnal Ilmu Ekonomi Vol. 13 No. 1 (2024)
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.v13i1.41075

Abstract

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