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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 Future of Health Expenditure in ASEAN Countries: A Forecasting Analysis with ARIMA Melati, Alexsandra Putri Sekar; Sihaloho, Estro Dariatno
Signifikan: Jurnal Ilmu Ekonomi Vol. 14 No. 2 (2025)
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.v14i2.46420

Abstract

Research Originality: The primary contribution of this research is its novel analysis and forecasting of health expenditure in the ASEAN region, which has been previously underexamined by scholars. Research Objectives: This research forecasts per capita health expenditure across three ASEAN countries, broken down by government, private, and out-of-pocket sources. Research Methods: This study employs a time series ARIMA model approach using secondary data from the World Bank for the period 2000 to 2021 Empirical Results: The findings indicate that projections for all three countries significantly increase across all health expenditure categories. Singapore is expected to see a sharp surge in all health expenditure components. At the same time, Indonesia is forecasted to achieve the highest growth rate in percentage terms, but lags in nominal terms. Conversely, Malaysia is projected to experience moderate growth in health expenditure. Implications: This research underscores the financing disparities and the urgent need for health system reform. JEL Classification: I18, C22, O53 How to Cite:Melati, A. P. S., & Sihaloho, E. D. (2025). The Future of Health Expenditure in ASEAN Countries: A Forecasting Analysis with ARIMA. Signifikan: Jurnal Ilmu Ekonomi, 14(2), 449-466. https://doi.org/10.15408/sjie.v14i2.46420.
Unlocking Sustainability in Informal Micro Enterprises: Capital Access in The Fintech Era Ispriyahadi, Heri; Zaenudin, Zaenudin; Wati, Lela Nurlaela
Signifikan: Jurnal Ilmu Ekonomi Vol. 14 No. 2 (2025)
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.v14i2.46421

Abstract

Research Originality: This study offers a unique exploration of how capital access mediates the impact of financial literacy and fintech peer-to-peer (P2P) lending on the sustainability of micro and small enterprises (MSEs) in traditional markets, utilizing SDG-based indicators. Research Object: This study examines the effects of financial literacy and fintech P2P lending on capital access and sustainability of MSEs in traditional markets. Research Methods: The study employed a quantitative approach, utilizing Structural Equation Modeling analysis, using 232 MSEs in Jakarta. Empirical Results: The findings indicate that financial literacy and fintech P2P lending have a positive impact on both capital access and the sustainability of MSEs. However, capital access did not significantly affect the sustainability of MSE or mediate either factor. Implications: The Financial Services Authority (OJK) must enhance legislation protecting MSEs from fintech risks and promote financial literacy. The OJK must coordinate P2P platforms, cooperatives, and MSE offices. Creating an inclusive fintech ecosystem for traditional market MSEs, with microloans and mentorship, is essential for viable financing. JEL Classification: G21, G53, L26, O16, Q01 How to Cite:Ispriyahadi, H., Zaenudin, Wati, L. N. (2025). Unlocking Sustainability in Informal Micro Enterprises: Capital Access in the Fintech Era. Signifikan: Jurnal Ilmu Ekonomi, 14(2), 467-488. https://doi.org/10.15408/sjie.v14i2.46421.
Do Coffee Exports Have an Impact on Economic Growth in Indonesia? Nasution, Nazla Atikah Hikmatias; Zahra, Zhena Nofhatiaz; Octariyadi, Nabila Umami; Sahara, Sahara
Signifikan: Jurnal Ilmu Ekonomi Vol. 14 No. 2 (2025)
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.v14i2.46425

Abstract

Research Originality: The novelty lies in exploring an under-researched topic, with limited studies on the impact of coffee exports from 1993 to 2024, considering key events such as the Asian financial crisis and the COVID-19 pandemic. Research Objectives:  This study examines the short-term and long-term effects of exchange rates and coffee exports on economic growth. Research Methods: This study utilizes data from 1993 to 2024 on exchange rates, coffee exports, recessions, and economic growth in Indonesia. The analysis is conducted using the ARDL model. Empirical Results: Exchange rate depreciation has a negative impact on GDP in the short term, while past depreciation has a positive effect on economic growth. The value of coffee exports has a marginal positive effect on GDP, while the volume of coffee exports shows inconsistent impacts. Recession does not significantly affect GDP, likely due to policy responses. Long-term estimates show a stable relationship among the variables, with adjustments occurring at a rate of 35.43% per period. Implications: The government should thoroughly evaluate existing policies with a focus on promoting economic growth, while enhancing the quality of Indonesian coffee exports to remain competitive globally. JEL Classification: C32, E01, F10, O11 How to Cite:Hikmatias, N.A., Zahra, Z.N., Octariyadi, N.U., & Sahara. (2025). Do Coffee Exports Have an Impact on Economic Growth in Indonesia?. Signifikan: Jurnal Ilmu Ekonomi, 14(2), 489-504. https://doi.org/10.15408/sjie.v14i2.46425.
Factors of Halal Industry Ecosystem Development: A Study on the Islamic Hospital Industry in Indonesia Masruroh, Aini; Rahmawati, Yuke
Signifikan: Jurnal Ilmu Ekonomi Vol. 14 No. 2 (2025)
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.v14i2.46428

Abstract

Research Originality: This study offers originality by examining Islamic hospitals, a sector that has been rarely explored in halal industry research. It employs a quantitative approach to analyze how knowledge and perception influence public intention, with preference serving as a mediating variable, providing new empirical evidence for strengthening the halal ecosystem in healthcare services. Research Objectives: This study aims to investigate the impact of knowledge and perception factors on public intentions to use sharia-certified hospitals, with preference serving as a mediating variable. Research Method: A quantitative descriptive approach was employed, utilizing primary data collected through questionnaires and analyzed using the Structural Equation Modeling-Partial Least Squares (SEM-PLS) method. Respondents consisted of individuals living in areas with the presence of Islamic hospitals. Empirical Results: The results showed that knowledge and perceptions have a significant influence on community preferences. Perceptions and preferences are also proven to affect people's intentions in choosing Islamic hospitals, while knowledge does not show a direct impact on intentions. Preference acts as a mediator in the relationship between knowledge, perception, and intentions. Implications: The findings underscore the significance of education in enhancing public knowledge, promoting positive perceptions, and developing effective marketing and regulatory strategies to strengthen the position of Islamic hospitals within the halal ecosystem development in Indonesia. JEL Classification: M31, O14, Z12 How to Cite:Masruroh, A., & Rahmawati, Y. (2025). Factors of Halal Industry Ecosystem Development: A Study on the Islamic Hospital Industry in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 14(2), 591-604. https://doi.org/10.15408/sjie.v14i2.46428.
The Impact of Investment and Labor Force Participation on Poverty in Aceh: The Mediating Role of Per Capita Income Wayus, Dicky; Safuridar, Safuridar; Syarief, Salman
Signifikan: Jurnal Ilmu Ekonomi Vol. 14 No. 2 (2025)
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.v14i2.46434

Abstract

Research Originality: Poverty remains a persistent challenge in Aceh Province despite multiple interventions. This study contributes to the literature by examining both the direct and indirect effects of investment and labor on poverty, as measured by per capita income, using path analysis. Research Objectives: The study aims to examine the impact of Labor Force Participation Rate (LFPR), Domestic Investment (DI), and Foreign Direct Investment (FDI) on poverty, with per capita income (PCI) as a mediating factor. Research Methods: Time-series data from 2009 to 2023 were analyzed using path analysis to identify direct and indirect relationships. Empirical Results: Findings show that per capita income has the most substantial effect in reducing poverty. DI significantly influences poverty, both directly and indirectly, while LFPR and FDI exhibit no significant impact; however, both trends show a negative correlation with poverty. Implications: Poverty alleviation strategies should prioritize income growth through domestic investment optimization and enhancing workforce quality. JEL Classification: I32, I21, F21, O16 How to Cite:Wayus, D., Safuridar., & Syarief S. (2025). The Impact of Investment and Labor Force Participation on Poverty in Aceh: The Mediating Role of Per Capita Income. Signifikan: Jurnal Ilmu Ekonomi, 14(2), 505-520. https://doi.org/10.15408/sjie.v14i2.46434.
Do Tourism-Related Sectors Drive Most of the Economy in Toba Regency? A RAS-based Regional Input-Output Analysis Susanti, Hera; Revindo, Mohamad Dian; Iskandar, Sulistiadi Dono; Nusantoro, Nalendro; Sabrina, Syahda
Signifikan: Jurnal Ilmu Ekonomi Vol. 14 No. 2 (2025)
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.v14i2.46460

Abstract

Research Originality: This study constructs the first regional Input–Output (RIO) table for Toba Regency in 2023, utilizing the iterative RAS technique to adapt provincial coefficients to local macroeconomic data. Research Objectives: To estimate sectoral interlinkages, multiplier effects, and labor intensity for Toba Regency, and to identify strategic sectors that can drive regional economic growth and inform evidence-based policymaking. Research Methods: The 2016 North Sumatra I–O table was regionalized into a 22-sector Toba Regency table through RAS, with row and column sums adjusted to match Toba Regency GRDP by industry and expenditure. The resulting table was analyzed to calculate backward and forward linkages, output multipliers, and labor intensity. Empirical Results: The local economy is primarily driven by paper manufacturing, agriculture, and construction, while the tourism sector contributes only 6.2 percent of output and exhibits weak forward linkages. This finding suggests limited integration of tourism-related activities into the local supply chain. Electricity, business services, and agriculture emerge as growth drivers, while wage disparities persist in low-productivity service sectors. Implications: The approach can guide other subnational governments in producing localized Input–Output (I–O) tables, thereby enhancing evidence-based policymaking. JEL Classification: D57, R15, R58 How to Cite:Susanti, H., Revindo, M.D., Iskandar, S.D., Nusantoro, N., & Sabrina, S. (2025). Do Tourism-Related Sectors Drive Most of the Economy in Toba Regency? A RAS-based Regional Input-Output Analysis. Signifikan: Jurnal Ilmu Ekonomi, 14(2), 521-536. https://doi.org/10.15408/sjie.v14i2.46490.
Currency Risk and Debt Maturity: Their Effects on the Resilience of Indonesia’s Foreign Exchange Reserves Afriana, Wendra; Damanhuri, Didin S.; Taryono, Taryono; Amanah, Siti
Signifikan: Jurnal Ilmu Ekonomi Vol. 14 No. 2 (2025)
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.v14i2.46526

Abstract

Research Originality: This study uncovers the unexpected negative impact of long-term external debt on Indonesia’s foreign exchange reserves, challenging conventional beliefs about debt stability. Research Objectives: This study provides important—and occasionally surprising—new insights into the dynamics of Indonesia's external debt and its impact on the country's foreign exchange reserves. Research Methods: Using recent time series data from 2013–2024 and the tried-and-true OLS regression method, this study provides a thorough and timely analysis of the relationship between Indonesia's foreign exchange reserves and the structure of its external debt. Empirical Results: The empirical results indicate that long-term debt has a negative impact on foreign exchange reserves, whereas Rupiah and foreign currency-denominated debts have positive effects. Notably, short-term debt shows no significant impact. These findings offer practical guidance for Indonesia’s external debt management, supporting better debt prioritization and enhanced financial resilience. Implications: These novel insights offer valuable guidance for optimizing debt management to strengthen Indonesia’s financial resilience and economic stability. JEL Classification: E4, E5, E6 How to Cite:Afriana, W., Damanhuri, D. S., Taryono.,& Amanah, S. (2025). Currency Risk and Debt Maturity: Their Effects on the Resilience of Indonesia’s Foreign Exchange Reserves. Signifikan: Jurnal Ilmu Ekonomi, 14(2), 537-548. https://doi.org/10.15408/sjie.v14i2.46526.