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Advances in Economics & Financial Studies
ISSN : -     EISSN : 29857562     DOI : https://doi.org/10.60079/aefs
Core Subject : Economy,
Founded in 2023, Advances in Economics & Financial Studies publishes original research that promises to advance our understanding of Economics & Financial Studies over diverse topics and research methods. This Journal welcomes research of significance across a wide range of primary and applied research methods, including analytical, archival, experimental, survey and case study. The journal encourages articles of current interest to scholars with high practical relevance for organizations or the larger society. We encourage our researchers to look for new solutions to or new ways of thinking about practices and problems and invite well-founded critical perspectives. We provide a forum for communicating impactful research between professionals and academics in Economics & Financial Studies research and practice with discusses and proposes solutions and impact the field. Advances in Economics & Financial Studies addresses a broad range of issues within the fields of finance and economics. Research involving financial institutions, financial policy, control issues for firms, central bank policy, risk and uncertainty, and the economics and financial dimensions of market and non-market phenomena, as well as more specialized topics, all fall within its purview.
Articles 3 Documents
Search results for , issue "vol. 4 no. 1 (2026)" : 3 Documents clear
The Effects of Regional Own-Source Revenue and General Allocation Fund on Economic Growth: Evidence from Spatial Panel Regression in North Kalimantan Province, Indonesia Asih Kusuma Wijayanti; Anwar Anwar; Budi Hasyim
Advances in Economics & Financial Studies Vol. 4 No. 1 (2026)
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i1.1037

Abstract

Purpose: This study examines variations in Regional Own-Source Revenue (PAD), the General Allocation Fund (DAU), and economic growth across North Kalimantan’s five local governments during 2014–2023. Research Method: The study uses an observational panel-data design based on 50 local-government-year observations obtained from Statistics Indonesia and the Directorate General of Fiscal Balance. Descriptive analysis and the Pesaran cross-sectional dependence test were applied. Spatial panel estimation was excluded because the five-unit cross-sectional dimension was insufficient for stable spatial parameters and the original weights matrix could not be reproduced. Results and Discussion: Economic growth and fiscal capacity varied substantially across jurisdictions and years. The Pesaran CD statistic was 9.215 (p<0.001), indicating general residual dependence, but not geographically structured spatial dependence. Accordingly, no reliable spatial or causal conclusion regarding PAD and DAU was retained. Implications: Fiscal policy should consider regional heterogeneity, revenue composition, transfer dependence, and common economic shocks. Broader samples and explicit endogeneity strategies are required for confirmatory analysis. Originality: The study provides context-specific fiscal evidence from Indonesia’s newest border province while clarifying the distinction between cross-sectional and spatial dependence.
The Impact of Economic Growth, Industrialization, and Population on CO₂ Emissions in ASEAN Adhy Satya Pratama; Deni Marsha; Aswan Aswan; Kasnawati Kasnawati
Advances in Economics & Financial Studies Vol. 4 No. 1 (2026)
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i1.1045

Abstract

Purpose: This study examines the effects of economic growth, industrial value added, and population on carbon dioxide emissions in five ASEAN countries and tests the proposed relationships among these variables. Research Method: A quantitative panel-data design was applied to Indonesia, Malaysia, the Philippines, Thailand, and Vietnam during 2015–2024, producing 50 observations. Data were obtained from international databases and analyzed using panel-data regression. The Chow and Hausman tests selected the Fixed Effect Model, supported by normality, heteroscedasticity, and multicollinearity tests. Results and Discussion: Industrial value added positively and significantly affects carbon emissions, with a coefficient of 0.8179 and a p-value of 0.0000. Population also has a positive and significant effect, with a coefficient of 1.5385 and a p-value of 0.0014. Economic growth has no significant effect. The model explains 98.62% of the variation in carbon emissions. These findings show that industrialization and population growth are the main emission drivers in the selected ASEAN countries. Implications: ASEAN governments should promote industrial decarbonization, renewable energy, clean technology, sustainable urban planning, and country-specific environmental policies. Originality: This study provides recent comparative evidence by accounting for country-specific heterogeneity through the Fixed Effect Model.
Analysis of Digital-Based Financial Management for Micro, Small, and Medium Enterprises (MSMEs) Gema Merdeka Goeyardi; Chriestine Ayu Ashari; Sengguruh Nilowardono
Advances in Economics & Financial Studies Vol. 4 No. 1 (2026)
Publisher : Yayasan Pendidikan Bukhari Dwi Muslim

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.60079/aefs.v4i1.1158

Abstract

Purpose: This study examines how culinary Micro, Small, and Medium Enterprises (MSMEs) in Pasuruan City implement digital financial management, the barriers encountered, and conditions supporting sustainable digitalization. Research Method: A descriptive qualitative case-study design involved three culinary MSME owners selected purposively because they used digital financial-recording or payment tools. Data came from in-depth interviews, direct observation, and application-generated financial documents and were analyzed through data reduction, narrative presentation, conclusion drawing, and source/method triangulation. Results and Discussion: Across the three cases, digital tools were associated with more organized bookkeeping, clearer separation of business and personal funds, and more timely financial information. Informants also reported settlement delays, Merchant Discount Rate deductions, unstable connectivity, and limited user capability that pressured daily liquidity. Implications: The small, context-specific sample limits transferability. Future research should examine other sectors, locations, and payment arrangements. MSME support should address digital capability and payment infrastructure alignment with short operating cash cycles. Originality: The study proposes Digital Liquidity Asymmetry as an interpretive concept for the coexistence of digital administrative efficiency and short-term liquidity vulnerability.

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