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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
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Determinants of Microfinance Institutions’ Financial Performance in Indonesia Yahya Riantas; Mokhamad Anwar; Sutisna
Economics Development Analysis Journal Vol. 14 No. 1 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i1.22828

Abstract

This study investigates the determinants of financial performance in Indonesian Microfinance Institutions (MFIs), analyzing financial and social factors alongside the impacts of COVID-19. Using panel data from 242 OJK-regulated MFIs from 2018 to 2023 (1,452 observations), fixed-effects regression reveals that the Debt-to-Equity Ratio (DER), Women’s Empowerment Index (WEI), and Microcredit Proportion (PMC) negatively affect Return on Assets (ROA), while Firm Size (SIZE) and Loan-to-Deposit Ratio (LDR) show positive effects. Service Accessibility (ACCES) proves to be insignificant. The findings highlight a critical trade-off: while MFIs’ social missions such as women’s empowerment and microcredit expansion depress profitability, operational scale and liquidity management enhance performance. The pandemic exacerbated these tensions, particularly in under-supported empowerment programs. This study contributes to the microfinance literature by empirically validating capital structure and social performance theories in Indonesia’s unique context. Practical implications suggest optimizing capital structures to reduce leverage risks, balancing microcredit portfolios with larger loans, and integrating digital tools to improve efficiency. For policymakers, these insights underscore the need for regulations harmonizing financial sustainability with inclusive development goals. By bridging empirical gaps, this research offers a framework for MFIs navigating post-pandemic recovery while maintaining their dual social–financial mission.
Mediating Role of Oil Production in Non-Tax State Revenue Determinants Wahyu Suryo Majid; Mohammad Raung Yuniar Effendy
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.23826

Abstract

This study aims to analyze the effect of the Indonesian Crude Price (ICP) and upstream oil and gas state-owned assets on oil non-tax state revenue from the oil and gas sector, with oil production considered as a potential mediating variable. Using the Vector Autoregression (VAR) model, the study examines short-run relationships through Granger causality and t-statistics, as well as long-term contributions via Forecast Error Variance Decomposition (FEVD). The results show that the ICP has a positive and statistically significant effect on oil non-tax state revenue. In contrast, upstream oil and gas state-owned assets and oil production do not exhibit significant short-run effects. Moreover, oil production does not function as a mediator in the relationship. Nonetheless, FEVD results suggest that the ICP and oil production make meaningful long-term contributions to oil non-tax state revenue, indicating underlying structural links not captured by short-run causality. These findings highlight the importance of managing oil price fluctuations and designing fiscal structures that are responsive to global oil market dynamics.
Stakeholder Engagement: Development of Sustainable Tourism Based on Local Wisdom Prajanti, Sucihatiningsih Dian Wisika; Octavianto, Said Nur; Widiyanto, Widiyanto
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.23854

Abstract

The development of sustainable tourism in Pati Regency, grounded in local wisdom, has been hindered by several factors, including structural ego issues, overlapping policies, and inadequate stakeholder collaboration. This study analyzes efforts to support tourism development, examines the impact of various variables (factors), and assesses the influence of stakeholders (actors) in sustainable tourism initiatives based on local wisdom in Pati Regency. The methodology integrates qualitative and quantitative approaches, employing the MICMAC and MACTOR methods. MICMAC analysis identifies core variables such as uniqueness and historical value, regional income, stakeholder relationships, community involvement, and utilizing local wisdom in tourism development. MACTOR analysis reveals key stakeholders namely, the Tourism and Culture Office (Dinporapar), the Cooperative and Small and Medium Enterprises Office (Dinkop), and the local community as central actors in sustainable tourism development. The findings from the MICMAC and MACTOR analyses provide a basis for formulating a comprehensive strategy to accelerate sustainable tourism development rooted in local wisdom in the Pati Regency. Further research may incorporate additional external variables and stakeholders to support advancing tourism models based on local creative economy initiatives.
The Role of Family Support in Combating Social Disconnection Muzayanah, Irfani Fithria Ummul
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.23917

Abstract

This study examines the role of family relationships in mitigating social disconnection, specifically feelings of lacking friendships, being left out, and experiencing isolation. A logit regression analysis was employed using nationally representative data from the 2021 Indonesian Happiness Survey. The study measured three dimensions of family support: communication frequency, shared family activities, and perceived family harmony. Findings indicate that frequent communication and family togetherness significantly reduce the likelihood of experiencing loneliness. In contrast, perceived family harmony exhibited a weaker effect. These results suggest that the quantity of family interactions is more critical than their perceived quality in alleviating social disconnection. The study highlights the importance of family engagement and communication as effective strategies for combating loneliness and enhancing individual well-being.
The Impact of MSME’s on Employment, Investment, and Income Malau, Albert Gamot; Mahjus Ekananda
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.24026

Abstract

North Sumatra, a key economic region in Indonesia outside of Java, continues to face persistent challenges such as high unemployment, the dominance of the informal sector, and uneven economic growth. Within this context, Micro, Small, and Medium Enterprises (MSMEs) serve as a cornerstone of the regional economy, particularly through their role in labor absorption and income generation. Despite their significance, MSMEs in North Sumatra still face substantial obstacles, including limited access to financing, inconsistent investment growth, and inadequate policy implementation—factors that hinder their full potential in driving inclusive development. This study examines the dynamic relationship between MSME growth, workforce participation, and Gross Regional Domestic Product (GRDP) in North Sumatra, employing a simultaneous equation model with time-series data from 2009 to 2023. The Two-Stage Least Squares (2SLS) method addresses endogeneity and simulates the effects of policy interventions projected for the 2025–2030 period. The findings indicate that MSME development is significantly influenced by policy instruments such as tax incentives and minimum wage regulations. Increases in wages and tax reductions enhance labor absorption, stimulate MSME performance, and promote GRDP growth. The study provides practical policy insights for strengthening the resilience and sustainability of MSMEs within North Sumatra’s evolving economy.
Digital Transformation: HDI, Consumption, And Inclusive Economic Growth Link Nasution, Zulkarnain; Henky Japina; Amrizal, Amrizal
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.24111

Abstract

This research investigates the impact of digital transformation on inclusive economic growth in Indonesia, in light of significant social and economic inequality. While previous studies, particularly in South Africa, have highlighted opportunities for market access, this study focuses on identifying the factors that influence the contribution of digital transformation within the Indonesian context, using Prakash’s theory. A quantitative descriptive approach was employed, utilizing secondary data from the Central Statistics Agency across ten provinces in Sumatra. The analysis applied the Panel Vector Autoregressive (PVAR) method to examine the relationships among variables, including the Human Development Index (HDI), consumption, and social inequality. The findings indicate that, in the long term, both consumption and HDI have a negative impact on inclusive economic growth, with t-statistics of -2.452 and -5.093, respectively. Inequality, however, did not show a significant influence, with a t-statistic of 1.148. Similar trends were observed in the short term. The study concludes that a nuanced understanding of the equitable implementation of digital technology is essential for achieving inclusive economic growth. Notably, the negative influence of HDI on economic inclusion suggests that improvements in quality of life do not always correlate directly with economic growth, offering new insights into the discourse on digital transformation and economic inclusion in Indonesia.
A Spatial Econometric Approach on Addressing Determinants of Regional Inequality Syaifudin, Rizal; Haidat Mangara, Togi; Desmawan, Deris; Setyadi, Sugeng
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.24478

Abstract

The disparity in socioeconomic conditions across Banten Province is suspected to contribute to regional inequality, stemming from uneven economic development. This is evidenced by certain areas with significantly higher economic levels than others. This study uses correlational and spatial approaches to analyze the influence of these socioeconomic conditions on the high level of regional inequality in Banten Province. The socioeconomic variables examined include the Human Development Index (HDI), labor force participation rate, poverty rate, base economic sector, and economic growth. The findings indicate that the poverty rate significantly correlates with regional inequality in a non-spatial context. Meanwhile, the base economic sector (particularly manufacturing) and economic growth show significant spatial effects on regional inequality.
Financial Development and Poverty Reduction in Indonesia: An Empirical Investigation Sari, Vita Kartika
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.22343

Abstract

Poverty in Indonesia has decreased but still presents many challenges in achieving significant reduction targets. The main objective of this study is to estimate the effect of financial sector development on poverty in Indonesia. The dependent variable was household final consumption expenditure as a proxy for poverty, while the independent variables were broad money and gross savings. The study used time series data and applied the ARDL-ECM (Autoregressive Distributed Lag–Error Correction Model) method for 1981–2022. The main finding was that broad money did not significantly affect poverty reduction. Gross savings were significant with a negative coefficient; higher savings were associated with higher poverty rates due to decreased consumption. Furthermore, the stability of the research model was tested using normality, serial correlation, heteroscedasticity, cumulative sum (CUSUM), and cumulative sum of squares (CUSUMQ) tests. The financial sector can reduce poverty through efficient financial services for the poor, microeconomic empowerment, and increased financial inclusion. In the future, the government must promote a conducive and competitive financial sector to support poverty alleviation programs
Determinants and Potential of Indonesia’s Frozen Shrimp Exports Rostwentivaivi, Vela; Nurmalina, Rita; Harmini; Tinaprilia, Netti
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.25097

Abstract

This study examines the main factors influencing the flow of Indonesian frozen shrimp exports and explores opportunities to strengthen trade with key destination countries. The research uses a panel data regression approach, including estimation and potential analysis, focusing on 12 major trading partners from 2012 to 2023. The study analyzes frozen shrimp under HS code 030617, one of Indonesia's leading fishery export commodities. The findings show that importer gross domestic product, importer population, and revealed comparative advantage positively influence frozen shrimp exports. In contrast, Indonesia's gross domestic product, economic distance, and non-tariff barriers have a negative impact. Based on the regression results, the potential analysis identifies several countries with strong export prospects, including Australia, the Netherlands, Hong Kong, the United Kingdom, Japan, Germany, Canada, South Korea, Malaysia, France, and Singapore. These results provide meaningful managerial implications, such as increasing domestic production capacity, enhancing export competitiveness, and developing focused marketing strategies to penetrate high-potential markets.
Exploring Excessive Working Hours Among Transportation Gig Workers in Indonesia Widyarini, Aulia; Pratomo, Devanto Shasta; Muljaningsih , Sri
Economics Development Analysis Journal Vol. 14 No. 2 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i2.23421

Abstract

The development of information technology has driven the emergence of the gig economy, which has significantly changed the employment landscape. In Indonesia, the gig economy's growth has led to a significantly increasing number of gig workers, particularly in the transportation sector. While digital platforms create flexible job opportunities, this work model also presents challenges, particularly excessive working hours, often necessary to meet daily income targets. This study analyzes the determinants of excessive working hours of gig workers in the transportation sector using logistic regression analysis with the 2022 National Labour Force Survey (Sakernas) data. The results confirm that gig workers in the transportation sector are likelier to experience excessive working hours than non-gig transportation workers. This finding proves that gig transportation workers are more vulnerable than traditional transportation workers. Several factors, such as gender, age, education, region, marital status, and ownership of a Kartu Prakerja, significantly influence the likelihood of gig workers in the transportation sector experiencing excessive working hours. The study’s findings offer implications for labor policies and social protection, particularly in ensuring the well-being of gig workers in the transportation sector amid the dynamics of the digital economy

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