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Economics Development Analysis Journal
Published by Universitas Negeri Semarang
ISSN : 22526560     EISSN : 25022725     DOI : https://doi.org/10.15294/edaj
Core Subject : Economy,
Economics, Econometrics & Finance
Economic Development Analysis Journal publishes original research and conceptual analysis of economic development, problems and policies in Indonesia.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 46 Documents
 1   2   3   4   5 
The Influence of Macroeconomic on Investment Performance Firmansyah, Muhammad; Mu'ammal, Immanuel; Anggun Tsalasa, Arini Roro
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.8491

Abstract

Shocks caused by macroeconomic variables and monetary transmission have impacted investment portfolios in the five ASEAN countries, both in the short and long term. This research aims to evaluate each country's proficiency in managing macroeconomic variables in relation to portfolio investments. Additionally, it seeks to explore the influence of these macroeconomic variables on portfolio investment and the time required for their effects to manifest in both short-term and long-term contexts. This study is quantitative in nature and uses secondary data. The data were sourced from the central banks of the ASEAN-5 countries and from investing.com for stock price index information. The results indicate that interest rates, exchange rates, and stock price indexes significantly affect portfolio investment in the short term. In contrast, in the long term, inflation, exchange rates, and money supply were found to have a significant impact on portfolio investment. Based on these findings, it is recommended that ASEAN-5 governments focus on exchange rates and economic openness, as these factors influence portfolio investment in the region and can attract investors' interest
International Trade Activities as Drivers of Economic Growth: Macro Conditions Goestjahjanti, Francisca Sestri; Novitasari, Dewiana; Rahmawati
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.4114

Abstract

Global economic growth has hovered around 2-3% over the past decade, resulting in stagnant GDP growth for Indonesia at approximately 5%. This research aims to analyze the effects of macroeconomic conditions, specifically money supply (M2), foreign debt, and international trade activities, on Indonesia's GDP growth from 1994 to 2023. Utilizing a linear regression method with 30 observations, the study finds significant impacts of the independent variables on GDP growth. M2 influences GDP growth by 93%, foreign debt by 76.6%, and net exports by 92.3%. Simultaneously, changes in these variables explain 93.7% of the variation in Indonesia's GDP. The theoretical foundation of this research is built upon previous studies on economic growth and macroeconomic factors, emphasizing the role of monetary policy, debt management, and export diversification. The findings indicate that the careful management of M2 is critical to fostering investment and consumption, while excessive reliance on foreign debt may hamper long-term growth. Non-oil and gas exports significantly contribute to GDP, underscoring the importance of export diversification. The study concludes that these macroeconomic factors are vital for sustainable economic growth and improving welfare in Indonesia, and recommends policy interventions to optimize their effects.
Do Financial Regulation and Technology Matter in Fostering Green Growth? Dyah Maya Nihayah; Rahmayani, Dwi; Afif Dhia Pratama; Fredericho Mego Sundoro; Hermanto, Agus
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.7904

Abstract

Effective regulation and technological innovation are key factors in driving the implementation of green growth initiatives. This research investigates how financial regulation and technological innovation influence green growth, proxied by carbon productivity, with data from 1996 to 2020 across ASEAN-5 Countries. A Panel Dynamic Ordinary Least Square (DOLS) model is conducted to analyze the long-run effect on each variable. The result showed that financial regulation, proxied by regulatory quality and economic freedom, positively and significantly influences green growth. Meanwhile, technological innovation has a positive but not significant influence on green growth. According to the findings, this study proposes adopting top-tier regulations and a step-by-step approach to realizing green growth. Meanwhile, the government can also open an investment as funding to improve innovation in green technology
Determinants of Economic Growth and Labor Productivity in Indonesia Surya Putra, Wildhan; Budiasih
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.5110

Abstract

Economic growth and labor productivity are important things for a region. This research analyzes the influence of investment, technological change, health, and minimum wages on economic growth and labor productivity. The geographically weighted regression (GWR) model is used to analyze spatial data, which produces local parameter estimates for each point/location where the data is collected. It was found that investment significantly affects economic growth in 18 provinces in Indonesia. ICT has a significant effect on economic growth in 3 provinces, and education (PPT) has a significant impact on labor productivity in 23 provinces. Low quality of health significantly affects the economic decline in 2 provinces and the decline in labor productivity in 4 provinces. The provincial minimum wage variable (UMP) significantly increases labor productivity in 17 provinces. Overall, of the 34 provinces, economic growth was most influenced by significant investment in almost all provinces except for Sumatra Island and half of Java Island. Meanwhile, labor productivity is most influenced by education, which is significant in almost all provinces except in eastern Indonesia and half of Sumatra Island.
Regional Asset Utilization: How Can it Affect Regional Income and Poverty? Hadi, Rahman; Maulana, Arief; Mahesa, Rama; Sitepu, Rasidin Karo Karo; Mustikawati, Rindang
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.8841

Abstract

This study examines Indonesia’s regulatory framework and empirical practices regarding using regionally owned assets. By applying the two-stage least squares (2SLS) technique for the national macro model, the study also seeks to determine the effects of increased regional asset utilization on poverty reduction and regional revenue across various regions. The study employs a descriptive-analytical approach using mixed methods. Fixed effect and random effect estimation techniques were utilized for the regional models, while the two-stage least squares (2SLS) method was applied for the national macro models. The Statistical Analysis System (SAS), version 4.0, was used for this analysis. The findings demonstrate that maximizing the use of regional assets positively impacts regional original income, with a 1% increase in asset utilization leading to a 0.53% rise in regional original income. Furthermore, a 1% increase in regional income results in a 0.09% decrease in poverty. Increasing regional revenue and reducing poverty are two measurable outcomes of optimizing regional assets as a policy tool to enhance regional economic performance. Several factors contribute to Indonesia’s low optimization of asset utilization, including remote geographic locations, legal disputes with third parties, numerous assets unregistered in state or regional administrations, and unclear asset allocation
Bridging Financial Inclusion to Water and Sanitation: Insights from Indonesia Suryadi, Christian; Faisal Madjid Alyasa; Ahmad Komarulzaman; Heriyaldi
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.9783

Abstract

Lack of access to improved drinking water and sanitation has been a major worldwide challenge, especially in Indonesia. This study investigates the impact of financial inclusion on access to improved drinking water and sanitation among households in Indonesia. Using binary probit regression analysis complemented with dominance analysis, we assess the relative importance of various factors, including financial inclusion, socio-economic status, and residence, in determining access to improved drinking water and sanitation services. Our findings highlight the critical role of urban residence in facilitating access to improved drinking water and sanitation, with urban areas demonstrating significantly higher access rates. Furthermore, participation in savings emerges as a more influential factor compared to credit participation, particularly in improving access to sanitation facilities. This suggests that while both savings and credit contribute to improved access, savings play a more pronounced role in addressing the higher upfront costs associated with sanitation infrastructure. Additionally, socio-economic factors such as household expenditure and education level are found to significantly influence access to improved water and sanitation, underscoring the importance of addressing broader socio-economic disparities. Overall, our study provides valuable insights and emphasizing the need for comprehensive strategies for policymakers to enhance essential access to clean water and sanitation.
How the Demographic Dividend Affects Economic Convergence: Insights from Indonesia I Gede Putu Dharma Yusa; Beta Yulianita Gitaharie
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.11755

Abstract

This study investigates the effect of the demographic dividend on the convergence of regional economic growth in Indonesia post-fiscal decentralization from 2001-2023. Considering the two phases of the demographic dividend, namely the first dividend measured by economic support ratio and the second dividend measured by the accumulation of human capital, this paper uses the frontier and the conventional convergence approaches. The models are empirically estimated by static (Ordinary Least Square, fixed effect, random effect) and dynamic (Generalized Method of Moments) panel data regressions. The results confirm that per capita income growth in Indonesia’s provinces is converging, using both the frontier and conventional approaches. This implies that provinces with low per capita income are catching up to the national average and higher-income provinces. However, the convergence speed is relatively slow and takes a long time (878-1,525 years) to achieve the half-convergence stage. Demographic dividend interventions, such as improving economic support ratio and human capital, significantly boost convergence speed and reduce the time needed for half-convergence. Further analysis indicates that slow convergence may be due to the low-level equilibrium trap in fertility rates and economic support ratios, hindering regional economic growth convergence in Indonesia.
Qualification Mismatch and Labor Wage Implications Setiyaningsih, Rahmawati; Panjawa, Jihad; Togar Laut, Lorentino; Sugiharti, Rr. Retno
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.11873

Abstract

Qualification mismatch is a significant issue in DKI Jakarta’s labor market, affecting how wages are distributed among workers. Although DKI Jakarta has the highest Provincial Minimum Wage (UMP) in Indonesia, many employees still receive wages inconsistent with their educational qualifications in terms of level and field of study. This study employs a quantitative regression approach using data from SAKERNAS August 2023 DKI Jakarta to analyze the impact of educational mismatch on labor wages. The results highlight a widespread issue of undereducation, where workers earn less than expected based on their qualifications. On the other hand, overeducation and mismatches in education do not significantly influence wage levels. Key factors such as education level, squared experience, undereducation, and gender have a significant positive effect on wages while working hours exert a significant negative impact. Interestingly, variables like technology use, internet access, and training opportunities show no substantial effect on wage determination. The study suggests that policymakers must address these mismatches by promoting gender equality and enhancing information and communication technology to improve productivity and wage outcomes across the labor force in DKI Jakarta
A Theil Decomposition of Regional Grouping in Indonesia’s Human Development Index Ginanjar, Rah Adi Fahmi; Sutjipto, Hady; Suhendra, Indra; Anwar, Cep Jandi
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.13802

Abstract

This research is designed to investigate regional differences in human development in Indonesia based on the Human Development Index (HDI) as a main indicator. With the use of the Theil Index decomposition method, this paper investigates the intra- and inter-regional disparities in Java vs. outside Java and KBI vs. KTI (Western Indonesia-Eastern Indonesia). Furthermore, the study uses convergence models (σ- and β-convergence) to examine the speed at which zones with lower HDI access regions with higher HDI. The dataset employed in the study was data from various competencies at each regency-cities in Indonesia during its period of 2010-2021, which was publicly available at the Indonesian Central Bureau of Statistics (BPS). The findings show a significant decrease in human development disparities over time, although the convergence process remains slow. Intra-regional inequality contributes more significantly to the overall disparity than inter-regional inequality, particularly within the KBI-KTI dichotomy. This study suggests that while Indonesia is on a path toward reducing regional disparities, more targeted policy interventions are needed to accelerate the convergence process, particularly in underdeveloped regions like Eastern Indonesia.
Integrating Circular Economies: Enhancing Border Regions Environment and Public Health Hari Kristianto, Aloysius; Yuliana; Suratman, Eddy; Yani, Akhmad; Dewata, Indang
Economics Development Analysis Journal Vol. 13 No. 3 (2024): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v13i3.8202

Abstract

The circular economy represents a groundbreaking economic model that transforming waste into valuable products, potentially benefiting regional and national economies. This research explores the correlation between household waste management and its impact on environmental degradation and public health. Employing the System Dynamics method, the study delves into the intricacies of real-world system behavior, examining causal links and interrelationships within a system of interconnected sub-systems. Utilizing mental data, including scientific publications, mass media news, and expert opinions, alongside quantitative time series, the research focuses on the limitations of household waste management in addressing air and water pollution, posing potential health risks. Findings indicate a connection between population growth and increased waste generation, predominantly from residential sources. Unmanaged waste creation threatens air and water quality, emphasizing the importance of waste management in minimizing pollutants for improved public health. Aligning with the circular economy's 3R concept, effective waste management not only mitigates environmental impact but also holds the potential to enhance income generation. The circular economy's recycling and green entrepreneurship promotion can stimulate investments, fostering job creation. Collaborative efforts between governments and business owners can further support distribution and marketing channels, encouraging local self-sufficiency

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