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INDONESIA
Moneta : Journal of Economics and Finance
ISSN : -     EISSN : 30308666     DOI : https://doi.org/10.61978/moneta
Core Subject : Economy,
Moneta : Journal of Economics and Finance with ISSN Number 3030-8666 (Online) published by Indonesian Scientific Publication, published original scholarly papers across the whole spectrum of economics and finance. The journal attempts to assist in the understanding of the present and potential ability of accounting to aid in the recording and interpretation of international economic transactions and taxation practices.
Articles 50 Documents
Systemic Barriers and Opportunities in Financial Inclusion: Lessons from Developing Regions Widiastuti, C. Tri
Moneta : Journal of Economics and Finance Vol. 3 No. 2 (2025): April 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v3i2.917

Abstract

Financial inclusion has gained global recognition as a cornerstone of sustainable economic development, particularly in developing economies where large segments of the population remain excluded from formal financial systems. This narrative review aims to synthesize evidence on the roles of microfinance, mobile banking, and policy approaches in advancing financial inclusion. A systematic search of academic databases, including Scopus, Google Scholar, and Web of Science, was conducted using targeted keywords to identify relevant studies published between 2010 and 2025. Inclusion criteria emphasized peer-reviewed works addressing financial access in developing countries, while methodological diversity encompassed quantitative, qualitative, and mixed-methods studies. Findings indicate that microfinance significantly supports poverty alleviation and women’s empowerment, though results vary across contexts and sometimes lead to over-indebtedness. Mobile banking demonstrates strong potential to expand financial access by lowering transaction costs and overcoming geographic barriers, with notable successes in India, Bangladesh, and Kenya. National policy frameworks create enabling environments that integrate financial innovations into broader economic strategies, yet challenges remain in ensuring active usage and consumer protection. Systemic barriers, including weak infrastructure, inconsistent regulation, and low digital literacy, persist as major obstacles. The discussion highlights the need for gender-sensitive policies, expanded literacy initiatives, and investments in infrastructure. Future research should examine long-term outcomes of inclusion strategies and the potential of emerging technologies such as blockchain. Overall, the review concludes that sustainable and inclusive financial systems require coordinated interventions that align access, capacity, and governance to achieve transformative impact.
Carbon Pricing as a Climate Policy Instrument: Global Lessons, Challenges, and Future Directions Rismanto, Hilman; Lestari , Putri Ayu
Moneta : Journal of Economics and Finance Vol. 3 No. 3 (2025): July 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v3i3.928

Abstract

Carbon pricing has become a central instrument in global strategies to mitigate climate change, yet its economic, social, and environmental implications remain contested. This study provides a narrative review synthesizing literature from Scopus, Web of Science, and Google Scholar to evaluate the effectiveness of carbon pricing mechanisms. Keywords including carbon tax, emissions trading systems, carbon pricing mechanisms, and economic implications guided the selection of peer-reviewed studies published between 2000 and 2025. Inclusion criteria focused on research addressing economic growth, innovation, social equity, and environmental outcomes across developed and developing contexts. Results show that carbon pricing fosters green innovation, reduces emissions in energy and transport, and generates fiscal revenues that can finance social and environmental programs. However, outcomes vary significantly: industries with high resource dependence face cost burdens, low-income households are disproportionately affected, and developing countries struggle with institutional weaknesses and carbon leakage. Comparative analysis demonstrates that both carbon taxes and cap-and-trade systems can be effective when complemented by redistributive mechanisms, strong institutions, and integration with broader policy frameworks. The discussion highlights systemic political, economic, and institutional factors that influence success and identifies gaps in longitudinal and social impact research. Findings suggest that well-designed carbon pricing can balance mitigation and equity objectives, but future research must expand comparative analyses and explore hybrid policy models. The study underscores carbon pricing as an indispensable yet context-sensitive tool for achieving sustainable low-carbon transitions.
Financial Inclusion, Stability, and Governance in the Era of Digital Currencies Satoto, Eko Budi; Qomariah, Nurul; Yandari, Aprilya Dwi
Moneta : Journal of Economics and Finance Vol. 3 No. 4 (2025): October 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v3i4.929

Abstract

Digital currencies, including Central Bank Digital Currencies (CBDCs), cryptocurrencies, and stablecoins, are reshaping global financial systems, raising questions about efficiency, inclusion, stability, and regulation. This study aims to provide a narrative review of the opportunities and regulatory impacts of digital currencies within both advanced and emerging economies. Relevant literature was collected from major databases, including Scopus, Web of Science, Google Scholar, IEEE Xplore, and PLOS ONE. Selection emphasized relevance, quality, and contribution to technological, economic, and policy discussions. The results show that CBDCs offer opportunities to enhance financial inclusion and reduce transaction costs, while also strengthening monetary policy effectiveness. Cryptocurrencies and blockchain-based systems have demonstrated efficiency in cross-border transactions but also exhibit volatility and speculative behavior that challenge traditional financial theories. Regulatory frameworks and governance emerge as central issues, with evidence that clear, harmonized, and innovation-friendly regulations accelerate adoption, whereas restrictive policies hinder development. Global comparisons reveal that advanced economies emphasize monetary policy and stability, while developing economies prioritize inclusion. Systemic factors such as infrastructure, literacy, and governance strongly influence adoption outcomes. The findings underscore the urgency of adaptive regulation, international cooperation, and public education as strategies to maximize benefits while mitigating risks. Future research should explore sociopolitical and behavioral aspects, long-term systemic impacts, and regional variations to advance a comprehensive understanding of digital currencies. These insights provide critical guidance for policymakers and financial institutions navigating the digital transformation of money.
Inflation, Monetary Policy, and Systemic Risks: Global Insights from the Post-Crisis Era Setiadi
Moneta : Journal of Economics and Finance Vol. 3 No. 4 (2025): October 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v3i4.930

Abstract

The dynamics of inflation and monetary policy between 2008 and 2025 have been shaped by unprecedented global crises, including the financial crisis, the COVID-19 pandemic, and recurrent energy and commodity shocks. This study aims to synthesize global lessons on how inflation evolves under these conditions and how central banks have responded with both conventional and unconventional policies. The methodology employed a structured narrative review, drawing from Scopus, Google Scholar, Web of Science, JSTOR, and complementary databases. Keywords such as “inflation dynamics,” “monetary policy,” “COVID-19,” “supply shock,” and “economic recovery” guided the search. Inclusion criteria focused on peer-reviewed studies addressing the intersection of inflation and policy during the designated period. The results highlight four key themes. First, external shocks such as energy and food price volatility strongly influence inflation, with greater vulnerability observed in open economies. Second, monetary policy effectiveness varies: advanced economies relied on interest rate adjustments and unconventional tools, while developing economies faced structural limits in transmission. Third, fiscal-monetary coordination enhanced stability, whereas uncoordinated responses fueled uncertainty and inflationary persistence. Finally, public attention and expectations significantly shaped inflation outcomes, limiting the scope of communication strategies. The discussion situates these findings within broader systemic factors including globalization, market structures, and geopolitical risks, underscoring the need for adaptive and credible policy frameworks. This study concludes that future resilience requires strengthening central bank independence, improving coordination, and integrating global risk analysis. Such measures are critical for sustaining price stability in an era of persistent global volatility.
Global Challenges in Digital Taxation: Policy, Administration, and Sustainable Development Cupiadi, Hedi
Moneta : Journal of Economics and Finance Vol. 3 No. 2 (2025): April 2025
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v3i2.931

Abstract

The rapid expansion of the digital economy challenges traditional tax systems that rely on physical presence. This review synthesizes global regulatory issues of digital taxation and their fiscal implications. OECD initiatives, particularly the BEPS and Two-Pillar Solution, form the basis of reform, though implementation remains uneven. While European states adopt national digital services taxes, countries like India and Indonesia pursue localized strategies. Challenges persist, including limited fiscal capacity, administrative barriers, and legal uncertainties. Despite these obstacles, digital taxation can enhance fiscal sustainability and support development goals. The review emphasizes the need for international cooperation, adaptive policies, and technological innovation. Future research should examine cryptocurrency regulation and links with environmental sustainability.
The Influence of Business Capital, Digitization, and Access To Financing on The Performance of Culinary Micro, Small, And Medium Enterprises (MSMES) In Palembang Farhanando; Sartika, Dewi
Moneta : Journal of Economics and Finance Vol. 4 No. 1 (2026): January 2026
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v4i1.1158

Abstract

This study aims to examine how business capital, digitization, and access to financing influence the performance of culinary Micro, Small, and Medium Enterprises (MSMEs) in Palembang. A total of 100 respondents from local culinary MSMEs were surveyed. Data were analyzed using the Partial Least Squares (PLS) method through SmartPLS 3.0 software. The results indicate that business capital and access to financing have positive and significant effects on MSME performance, while digitization shows a positive but insignificant effect. These findings suggest that sufficient business capital and financing access are essential for improving MSME performance. However, digital adoption among MSMEs in Palembang remains suboptimal due to limited digital literacy and infrastructure. Strengthening capital and access to financing, alongside accelerating digital transformation, is necessary to enhance MSME competitiveness and sustainability.
Enhancing Corporate Governance with Blockchain and Smart Contracts: A Systematic Review of Agency Conflict Mitigation Prasetia, Arus Reka; Perdananti, Primanola; Waspada, Ikaputera; Sari, Maya
Moneta : Journal of Economics and Finance Vol. 4 No. 1 (2026): January 2026
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v4i1.1249

Abstract

Agency conflicts remain a persistent challenge in corporate governance because information asymmetry and misaligned incentives can weaken monitoring and accountability. This systematic literature review synthesizes international empirical evidence on how blockchain and smart contracts relate to agency conflict mitigation and governance outcomes, and it clarifies boundary conditions and implications for Agency Theory. We followed PRISMA reporting guidance and searched Scopus for English journal articles published between 2018 and 2025. After title, abstract, and full-text screening, 13 empirical studies were included for quality appraisal and thematic narrative synthesis. Across contexts, blockchain adoption or innovation intensity is most consistently associated with improved information environments, including higher transparency and reporting quality and lower opportunism related proxies, and it is also associated with improved investment efficiency and selected compliance and risk outcomes. Evidence on smart contracts is substantially thinner. Smart contracts are explicitly analysed in one case study and they are discussed secondarily in one additional study, while none of the large sample quantitative studies operationalises smart contract use as a distinct construct. The synthesis indicates that governance benefits depend on data integrity supported by internal controls, external monitoring and assurance capacity, and regulatory and legal alignment that enables auditability and enforceability. Overall, blockchain-enabled corporate governance is best interpreted as governance by system design that complements conventional mechanisms and motivates future research on measurable smart contract use cases and stronger causal identification.
Developing Strategies for Msmes in Semarang City Using Swot Analysis Handoyono, Rudi; Arbainah, Siti; Korawijayanti, Lardin; Pradana, Bagas Putra; Alfarizi, Musyafa
Moneta : Journal of Economics and Finance Vol. 4 No. 1 (2026): January 2026
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v4i1.1240

Abstract

This study aims to formulate appropriate development strategies for Micro, Small, and Medium Enterprises (MSMEs) in Semarang City, with a focus on Tembalang, Pedurungan, and Banyumanik Districts. Using a descriptive quantitative approach, data were collected from 120 MSME respondents through structured questionnaires and analyzed using internal analysis, external analysis, and SWOT analysis. The findings show that MSMEs in Semarang City are positioned in Quadrant I of the SWOT matrix, indicating strong internal strengths and favorable external opportunities. The recommended strategy is an aggressive Strength-Opportunity (SO) approach, emphasizing the use of internal advantages—such as product quality and strategic location—to capture market opportunities. Practically, this study suggests that MSMEs should improve product quality, enhance brand visibility, build strong supplier relationships, and develop wider distribution channels. Future growth may also be supported through digital marketing and expansion along the supply chain. These insights can assist MSME actors and policymakers in designing more targeted and sustainable development efforts.
Driving Firm Value Through Sustainability: The Role of Carbon Emission Disclosure, Eco-Efficiency, and Green Innovation in Indonesian Energy Companies Ayundira, Fidya; Paramita, Veronika Santi
Moneta : Journal of Economics and Finance Vol. 4 No. 1 (2026): January 2026
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v4i1.1308

Abstract

This study examines the effects of eco-efficiency, green innovation, and carbon emission disclosure on firm value among energy companies listed on the Indonesia Stock Exchange during 2020–2024. A quantitative panel data approach was employed using secondary data obtained from annual financial reports and sustainability reports. The final sample consisted of 16 energy companies with 5 years of observation, resulting in 80 company-year observations. Panel data regression analysis was applied to investigate the causal relationships among the study variables. Carbon emission disclosure was calculated using GRI 305. The empirical results indicate that green innovation has a positive and significant impact on firm value. Conversely, carbon emission disclosure has a negative impact on firm value. Meanwhile, ecological efficiency does not show a significant impact on firm value. Overall, the findings suggest that Indonesian investors place greater emphasis on innovation-oriented sustainability strategies rather than solely on efficiency- or compliance-based environmental measures when evaluating firm value in the energy sector.
When Environmental Transparency Meets Profitability: The Impact of Carbon Emission Disclosure and Green Investment on Firm Value in Mining Companies Jihan Putri Syabila; Paramita, Veronika Santi
Moneta : Journal of Economics and Finance Vol. 4 No. 1 (2026): January 2026
Publisher : Indonesian Scientific Publication

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61978/moneta.v4i1.1310

Abstract

This study examines the valuation of publicly listed mining companies in a specific sub-sector on the Indonesia Stock Exchange during 2020–2024, a period marked by increasing global attention to climate change and ESG transparency. The mining sector faces growing scrutiny due to its carbon emissions and role in the transition toward a sustainable economy. This research analyses the impact of carbon emission disclosure and green investment on firm value, with profitability as a moderating variable. A quantitative descriptive-causal approach was employed using secondary panel data from financial and sustainability reports. Eight mining sub-sector companies were selected through purposive sampling, and the data were analysed using panel data regression and moderated regression analysis (MRA). The results show that green investment does not significantly affect firm value. In contrast, carbon emission disclosure has a negative effect on firm value, indicating that increased transparency may heighten investor concerns regarding environmental risks and compliance costs. However, profitability significantly moderates this relationship by reducing the negative impact of carbon emission disclosure and strengthening the effect of sustainability practices on firm value. These findings imply that transparent carbon emission reporting should be accompanied by strong profitability to enhance firm value. This study extends prior sustainability and firm value research by providing empirical evidence on the moderating role of profitability in Indonesia’s mining sub-sector.