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Efficient: Indonesian Journal of Development Economics
Published by Universitas Negeri Semarang
ISSN : 26556197     EISSN : 2655318X     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Efficient Journal is a journal base on the economics and development studies. This journal publishes a research paper related to specific themes such as macro economics, small and medium enterprises, public policy, monetary economics, development studies, international economics, trade economics, agriculture economics, tourism, regional and finance economy, and related studies within economics and development.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 10 Documents
 1 
Search results for , issue "vol. 9 no. 2 (2026)" : 10 Documents clear
Comparative Analysis of Special Autonomy Efficiency in Indonesia Sepviana Nur Kumala; Mulyanto; Sarjiyanto
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.6593

Abstract

Special autonomy refers to the authority granted to certain provinces based on their unique characteristics and special status. The subjects of this research are the provinces of Aceh, Yogyakarta, Papua, and West Papua. Previous studies indicate that special autonomy funds have not been utilized efficiently, resulting in suboptimal benefits for society. Therefore, this study aims to analyze the efficiency of special autonomy implementation in each province and compare the efficiency performance across provinces receiving special autonomy status. The research employs Data Envelopment Analysis (DEA) and one-way ANOVA methods. The findings show that Yogyakarta achieved the highest efficiency level, with a score of 0,998, while West Papua recorded the lowest efficiency score at 0.965. In Aceh, two regencies consistently achieved efficiency, whereas in Yogyakarta, Papua, and West Papua, three regencies/cities consistently achieved efficiency. These findings indicate disparities in the effectiveness of special autonomy fund management across provinces and highlight the importance of strengthening fiscal governance and regional policy evaluation to improve the effectiveness of special autonomy implementation.
What Drives Inequality in Sumatra? Evidence from Provincial Panel Data, 2015–2024 Khalifany Ash Shidiqi; Alif Farreihan Adyun
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.35654

Abstract

This research analyzes the relationship between income inequality, measured by the Gini ratio, and key socioeconomic variables such as regional minimum wages, poverty levels, human development, and unemployment across ten provinces in Sumatra from 2015 to 2024. Utilizing annual panel data sourced from BPS and applying a panel regression approach, the Random Effects model was selected as the most appropriate based on specification tests. The findings reveal that higher minimum wages and improved human development outcomes are associated with reduced income inequality, while greater poverty levels are linked to a widening income gap. In contrast, unemployment does not exhibit a statistically significant effect on the Gini ratio. A 1 percent increase in the minimum wage is associated with a 0.00052 reduction in the Gini ratio (≈ 0.052 Gini points) on the 0–1 scale, and a 10 percent increase with ≈ 0.005 (≈ 0.5 Gini points). A one-point improvement in the Human Development Index (HDI) is associated with a 0.002 reduction in the Gini ratio (≈ 0.2 Gini points). These insights support policy measures that enforce fair wage standards, strengthen human capital, and reduce poverty to foster more inclusive growth across Sumatra.
Gold Price Fluctuations Affecting to People's Purchasing Power with Interest Rate as Moderating Effect in Indonesia Milla Naeruz
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.40544

Abstract

This study aims to analyze the effect of gold prices on inflation, purchasing power, and exchange rates in Indonesia during the period 1995-2024. Gold is a hedging investment that is sensitive to changes in exchange rates, global economic turmoil, and market risk perceptions. Rising gold prices often reflect uncertainty in economic terms, which can lead to inflation due to an increase in goods and services. Uncontrolled inflation has a negative impact on people's purchasing power, especially in fixed income groups. Conversely, people who have gold investments may experience an increase in nominal wealth, thus potentially increasing income indirectly. This study uses a quantitative approach with secondary data from the Central Bureau of Statistics (BPS), Bank Indonesia, and the World Gold Council. The results of the analysis show a positive relationship between the increase in gold prices and inflation, as well as a negative correlation with people's purchasing power, but the increase in gold prices has an impact on the increase (appreciation) of the dollar against IDR and the value of IDR depreciates.
Philosophy of Justice as the Foundation of Sharia Economics: Islamic Consumption Ethics Analysis in Digital Age Aulia Rahmi; Ahmad Hasan Ridwan; Nurrohman Syarif; Harmanto Raharjo
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.40618

Abstract

This study aims to explore the integration of Islamic justice philosophy (al-ʿadl) with contemporary consumption behavior, particularly in the context of the digital economy. It examines how justice, as a fundamental Islamic value, shapes ethical decision-making in consumption and influences socio-economic structures amid rapid technological transformation. The method employed is a qualitative literature review, synthesizing classical Islamic thought, modern economic theories, and recent empirical studies on consumer ethics and digitalization. The results reveal that justice serves not only as a normative principle but also as a practical framework that guides consumption toward balance, social responsibility, and sustainability. Furthermore, integrating justice into economic policies and educational systems enhances conscious consumption and reduces socio-economic disparities. This research contributes to the development of a philosophical and ethical foundation for Islamic economics that is relevant and responsive to the challenges of the digital age.
Determinants of Business Productivity in the Tourism Sector of Magelang Regency Jihad Lukis Panjawa; Aditya Kumala Dewi; Dinar Melani Hutajulu; Tri Lestari; Safira Herdianty Prasetyo
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.40629

Abstract

The tourism sector's GRDP in Central Java shows continuous growth, but its contribution to the regional GRDP is stagnant or even declining. This indicates that tourism sector growth is not always accompanied by regional economic growth. This study aims to analyze the factors influencing tourism sector business productivity in Magelang Regency in 2025 using a quantile regression approach. The study sample consisted of 65 businesses participating in the Tourism Office's development program. The dependent variable in this study is business productivity, measured by revenue, while the independent variables include initial capital, workforce, education, training, length of business, business legality, certification, community involvement, partnerships, technology and internet use, financial inclusion, and policy support. This study found that the workforce has a positive and significant impact on business productivity at all quantile levels. Conversely, initial capital, length of business, business legality, and financial inclusion have no effect, while the variables of education, certification, internet use, community, and partnerships show different results at each quantile level. These results indicate that increasing tourism business productivity is largely determined by human resource capacity. In this regard, policies aimed at strengthening workforce skills, increasing access to certification, and utilizing digital technology will positively impact business productivity. Programs related to financing, legality, and partnerships need to be evaluated to positively impact tourism businesses.
Rice Production Spillovers from Lampung Supplier Districts on Urban Poverty in Bandar Lampung Sony Tian Dhora; Qurrota Ayu Nindien
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.40631

Abstract

This study examines both the long-run relationship and short-run dynamics between urban poverty and hinterland rice supply. The unit of analysis comprises Bandar Lampung City and five rice-producing districts (Central Lampung, East Lampung, South Lampung, Mesuji, and Tulang Bawang) which together form an integrated urban–rural economic system. Quarterly time-series data for the period 2010Q1–2024Q4 (approximately 60 observations) are employed to enhance statistical power. Variables originally available at lower frequencies are temporally disaggregated into quarterly series using linear interpolation, and data consistency is verified through aggregation tests and robustness checks. An Error Correction Model (ECM) is applied to capture equilibrium relationships and short-term adjustments. The long-run results indicate that real GRDP per capita significantly reduces poverty, whereas unemployment and the rice production index are not statistically significant. The Engle–Granger test confirms cointegration among the variables. In the short run, the error correction term is negative and significant, suggesting gradual adjustment toward long-run equilibrium. Overall, income growth emerges as the primary driver of poverty reduction, while the effect of rice supply operates indirectly and more slowly through market transmission mechanisms.
Reconfiguring Environmental Performance Governance Beyond Disclosure: A Framework for Emerging Economies Feni Fitriani Putri Rozi; Bagaskara Sagita Wijaya; Yulia Rimapradesi; Siti Aminah Caniago
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.41565

Abstract

This study proposes the Global Reporting Initiative–Environmental Performance Integration (GRI–EPI) Framework as a gap from existing studies paying insufficient attention to the governance mechanisms through which disclosure. The Framework explains how global reporting regimes interact with national regulatory contexts and organizational governance structures to enable the integration of environmental performance into strategic and operational decision-making. This study synthesizes global sustainability reporting standards, governance and development literature, and national policy contexts, with Indonesia employed as an illustrative application of typical emerging-economy conditions. The framework explicitly specifies key governance parameters—including decision-level entry points, authority coupling, incentive and accountability linkages, and institutional mediation—that condition whether sustainability disclosure becomes decision-relevant or remains symbolically decoupled from performance. The framework identifies key governance pathways and baseline integration conditions necessary for translating disclosure into performance-oriented outcomes.
Did Monetary Policy Stabilize Inflation during the COVID-19 Pandemic? Evidence from Indonesia Afaqa Hudaya; Zulfahmi; Etty Puji Lestari
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.42552

Abstract

This study examines the relationship between monetary policy and inflation in Indonesia during the COVID-19 period, from March 2020 to June 2023, over the short and long term. It focuses on how interest rates, money supply, and exchange rates influence inflation and identifies which factor is most effective. Using Indonesian monthly time-series data, the analysis employs econometric methods, including an error correction model, to assess stationarity, long-term relationships, and cointegration. The results show that the exchange rate is the most influential driver of inflation in both the short and long run, while interest rate policy is less effective, especially during crises. These findings challenge the conventional view that interest rate adjustments alone can stabilize inflation, emphasizing the critical role of exchange rate management. The study also finds that changes in the exchange rate begin to affect inflation within five periods, indicating a rapid short-term transmission. Overall, this research underscores the importance of coordinated monetary and exchange rate policies to maintain price stability and economic resilience in Indonesia, especially during crises.
Enhancing Local Government Revenue Through Municipal Enterprises: A Case Study of Taman Satwa Taru Jurug Zoo Achmad Syukri Prihanto; Adji Suradji Muhammad; Ika Alicia Sasanti; Joachimu Stanley Machimu
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.44571

Abstract

This study examines how the implementation of Good Corporate Governance (GCG) principles functions as a strategic instrument for improving the financial performance of a Regional-Owned Enterprise (BUMD), particularly in increasing Regional Original Income (PAD). This study is urgent as it addresses governance challenges faced by traditional BUMDs transitioning into modern, partner-managed tourism enterprises. This study employs a qualitative descriptive approach, utilizing in-depth interviews with key management personnel and stakeholders, complemented by document analysis of regulatory frameworks, financial reports, technical proposals, and official publications related to the revitalization process. The data were analyzed to assess how each GCG principletransparency, accountability, responsibility, independence, and fairnesswas operationalized in the company’s strategic decisions and management practices. The findings reveal that transparency in decision-making and partnership arrangements increased public trust, accountability enhanced operational efficiency, and responsibility strengthened long-term business sustainability. Furthermore, independence allowed management to make objective and professional business decisions without undue political or external intervention, fostering healthier relationships among stakeholders.
Agricultural Infrastructure and Green Economic Growth in Indonesia Muhammad Rizq Gobel; Mahludin Baruwadi
Efficient: Indonesian Journal of Development Economics Vol. 9 No. 2 (2026)
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/efficient.v9i2.45486

Abstract

Indonesia’s development agenda toward 2045 prioritizes the transition toward a low-carbon economy, yet agri-food systems still face logistics inefficiencies, resource constraints, and climate vulnerability. This study examines whether Enabling Infrastructure Capacity (EIC) and Agricultural Production Support Capacity (APSC) contribute to green economic performance and whether Socioeconomic Performance (SEP) mediates these relationships. A quantitative multi-method approach is applied by combining Partial Least Squares Structural Equation Modeling (PLS-SEM) and fixed-effects panel regression. The study uses secondary data from 33 Indonesian provinces over the 2011–2020 period. The PLS-SEM model evaluates structural relationships among EIC, APSC, SEP, and the Green Economy Index (GEI), while the panel regression assesses the association between observed infrastructure-service indicators and Gross Regional Domestic Product (GRDP). The results show that EIC and APSC have positive and significant direct relationships with GEI and SEP. However, SEP does not significantly mediate the relationships between EIC/APSC and GEI. The panel results show that access to safe drinking water is positively associated with GRDP, while electricity access, road length, and irrigation rehabilitation are not significant. These findings emphasize the importance of infrastructure service quality, agricultural production-support capacity, and green-oriented policy instruments.

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