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Grimsa Journal of Business and Economics Studies
Published by PT. Graha Primera Saintifika
ISSN : -     EISSN : 30320534     DOI : https://doi.org/10.61975/gjbes
Core Subject : Economy, Science, Social,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Energy Environmental Science Social Sciences
Grimsa Journal of Business and Economics Studies aims to provide a platform for researchers, scholars, and professionals to share their innovative ideas, findings, and insights in the following areas: Economic Theory and Analysis, Business Management and Strategy, Finance and Investment, Marketing and Consumer Behavior, Entrepreneurship and Innovation, International Business and Trade, Economic Development and Policy, Sustainable Business Practices, Data Analytics and Business Intelligence, Labor Economics and Human Resources, Financial Technology, Business Ethics and Corporate Governance
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 6 Documents
 1 
Search results for , issue "Vol. 2 No. 2 (2025): July 2025" : 6 Documents clear
The Analysis of QRIS Usage and Its Impact on the Velocity of Money in Indonesia Fadhil, Muhammad; Dawood, Taufiq C.; Seftarita, Chenny
Grimsa Journal of Business and Economics Studies Vol. 2 No. 2 (2025): July 2025
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v2i2.53

Abstract

QRIS, or Quick Response Code Indonesian Standard, represents one of the key evolutions in the payment system in Indonesia, utilizing QR Code technology to enhance payment system efficiency. QRIS has gained popularity in supporting payment systems in Indonesia and ensuring the velocity of money within the country. The velocity of money plays an important role in enhancing the effectiveness of monetary policy through its influence on the predictability of major monetary aggregates and money demand. This study aims to analyze the impact of QRIS usage on the velocity of money in Indonesia. The study employs a quantitative approach, using quarterly time series data (2019 Q1 - 2023 Q4) and incorporating several additional variables that can influence the velocity of money. The findings indicate that QRIS affects the velocity of money in the long term, as demonstrated through the Error Correction Model, a method capable of analyzing both short-term and long-term economic phenomena and evaluating the consistency of empirical models with economic theory. Based on these empirical results, it is recommended that the government of Indonesia enhance QRIS infrastructure to foster greater confidence and trust among citizens, thereby accelerating transactions.
How Investment Mediates Infrastructure Effect on Economic Growth in Indonesia Irwandi, Herwin; Jamal, Abd; Nasir, Muhammad
Grimsa Journal of Business and Economics Studies Vol. 2 No. 2 (2025): July 2025
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v2i2.59

Abstract

The availability of adequate infrastructure is one of the important foundations in encouraging investment and economic growth in a country. In Indonesia, over the last ten years, infrastructure development has become one of the main priorities to improve competitiveness and public welfare. This study aims to analyze the effect of the availability of road, electricity, and telecommunications infrastructure on investment and economic growth in Indonesia. The analysis uses panel regression analysis and path analysis methods in 34 provinces during the period 2014-2023. The research findings show that road infrastructure has no effect on economic growth, electricity infrastructure has a positive and significant effect on economic growth, while telecommunications infrastructure has a negative and significant effect on economic growth. Other findings show that investment partially mediates the effect of electricity and telecommunications infrastructure on economic growth; however, it does not mediate the effect of road infrastructure on economic growth. For this reason, the government needs to prioritize the development of electricity and telecommunications infrastructure because of its significant contribution to economic growth. Further evaluation and adjustment of road infrastructure policies are needed. Increasing investment, especially in sectors related to electricity and telecommunications infrastructure, also needs to be encouraged because it has a positive impact on economic growth.
The Effect of Foreign Direct Investment, Labor, Manufacturing Industry and Government Expenditure on Economic Growth in Indonesia Qanita, Qanita; Nasir, Muhammad
Grimsa Journal of Business and Economics Studies Vol. 2 No. 2 (2025): July 2025
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v2i2.72

Abstract

Progressive economic growth is a fundamental objective for all countries, including Indonesia, as it serves as a key indicator of national development and a means to enhance prosperity and public welfare. This study examines the impact of foreign direct investment, labor, the manufacturing industry, and government spending on economic growth in Indonesia. It utilizes secondary panel data from 34 provinces over the period 2018-2023 and applies a panel data regression method using the Common Effect Model (CEM). The estimation results show that both foreign direct investment and the manufacturing industry have a positive and significant effect on Indonesia’s economic growth, while labor and government spending exhibit an insignificant impact. Based on these findings, the study recommends the development of policies that attract foreign investment, particularly in the manufacturing sector, supported by adequate infrastructure development. Moreover, improving workforce quality through targeted education and training programs is essential. Government spending should be directed toward critical sectors and routinely evaluated to ensure that budget allocations effectively promote inclusive and sustainable growth.
Economic Growth in Indonesia: The Influence of Fiscal Decentralization, Investment, Labor, and Human Development Index Maulana, Harist; Syahnur, Sofyan; Abrar, Muhammad
Grimsa Journal of Business and Economics Studies Vol. 2 No. 2 (2025): July 2025
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v2i2.75

Abstract

Economic growth is the main indicator of the success of a region's development. This study aims to analyze the effect of fiscal decentralization, investment, labor, and the Human Development Index (HDI) on economic growth in Indonesia. Fiscal decentralization is measured through the General Allocation Fund (DAU), Revenue Sharing Fund (DBH), and Special Allocation Fund (DAK), while investment is represented by Domestic Direct Investment (PMDN) and Foreign Direct Investment (PMA). The labor factor is measured based on the number of workers employed, while the HDI is used as an indicator of human resource quality. This study uses a quantitative approach, employing panel data regression with the Ordinary Least Squares method. Data were collected from 34 provinces in Indonesia from 2014 to 2023. The results of the study show that DAU, DBH, and DAK have a positive and significant effect on economic growth, indicating that fiscal transfers from the central government to the regions can encourage economic activity at the regional level. In addition, PMDN and PMA also have a significant positive impact on economic growth. However, labor does not show a significant effect on economic growth, indicating that the increase in the number of workers has not been accompanied by an increase in skills and work productivity. Meanwhile, the HDI has a positive and significant effect, confirming that improving the quality of education and health plays an important role in increasing labor productivity and economic growth. These findings emphasize the importance of optimizing fiscal policy, increasing the effectiveness of regional fund allocation, and workforce development and human development strategies to support sustainable economic growth in Indonesia.
Economic Growth as a Moderator in the Nexus between Public Finance, Human Development, and Income Inequality in Aceh Royanti, Mella; Nasir, Muhammad; Seftarita, Chenny
Grimsa Journal of Business and Economics Studies Vol. 2 No. 2 (2025): July 2025
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v2i2.90

Abstract

Income inequality continues to pose a significant economic challenge in Indonesia, particularly at the regional level. Although economic growth is regarded as a pathway to improved public welfare, it can either alleviate or exacerbate existing income disparities. This study investigates the moderating role of economic growth in the relationship between public finance, human development, and income inequality, using panel data from 23 districts and cities in Aceh Province over the period 2017-2023. Employing panel data regression with the Moderated Regression Analysis (MRA) technique, the analysis focuses on three key independent variables: local tax revenue, village funds, and the Human Development Index (HDI). The results show that local tax revenue is positively associated with income inequality, while village funds have no statistically significant effect. The HDI, on the other hand, is significantly and negatively associated with inequality. However, economic growth does not moderate the effects of local tax revenue or village funds on income inequality. Notably, it does moderate the relationship between HDI and inequality, with the effect of HDI turning positive when interacted with economic growth. These findings highlight the need for local governments to prioritize inclusive development through strengthened fiscal management, more targeted village fund allocations, and sustained investment in human capital.
Agrochemicals, GHG Emissions, and GDP in Southeast Asia: A Machine Learning Approach with Hierarchical Clustering Fazli, Qalbin Salim; Idroes, Ghalieb Mutig; Hilal, Iin Shabrina; Hafizah, Iffah; Hardi, Irsan; Noviandy, Teuku Rizky
Grimsa Journal of Business and Economics Studies Vol. 2 No. 2 (2025): July 2025
Publisher : Graha Primera Saintifika

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61975/gjbes.v2i2.93

Abstract

Agrochemical use, GHG emissions, and gross domestic product (GDP) vary widely across Southeast Asia, making the region suitable for cluster-based sustainability analysis. This study applies hierarchical clustering analysis (HCA) to classify nine Southeast Asian countries using four standardized indicators: pesticide use, nitrogen fertilizer use, GHG emissions, and GDP. Exploratory data analysis reveals significant disparities, with Brunei and Indonesia emerging as outliers due to exceptionally high input intensity and emissions, respectively. HCA identifies four distinct clusters: (1) low-input, low-emission economies (Cambodia, Laos, Myanmar); (2) moderately intensive systems (Malaysia, Thailand, the Philippines, Vietnam); (3) a high-pesticide profile (Brunei); and (4) a high-emission, high-output outlier (Indonesia). Principal Component Analysis confirms the cluster structure and highlights variation in emission efficiency. The findings show that similar agroecological contexts can yield divergent environmental outcomes, emphasizing the role of policy and technology. This study provides the first region-wide, data-driven typology of agricultural sustainability in Southeast Asia using HCA.

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