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edaj@mail.unnes.ac.id
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edaj@mail.unnes.ac.id
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Sekaran, Gunungpati, Semarang
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Kota semarang,
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INDONESIA
Economics Development Analysis Journal
ISSN : 22526560     EISSN : 25022725     DOI : https://doi.org/10.15294/edaj
Core Subject : Economy,
Economic Development Analysis Journal publishes original research and conceptual analysis of economic development, problems and policies in Indonesia.
Articles 54 Documents
What Makes Society Happy? Exploring Factors Influencing Happiness in Indonesia Toni Andreas Susanto; Muliati Muliati
Economics Development Analysis Journal Vol. 14 No. 4 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i4.23365

Abstract

Happiness is a crucial aspect in evaluating development, as it reflects both the output and outcome for society. This study aims to examine the influence of environmental quality index (IKLH), human development index (IPM), economic growth, and government expenditure on the happiness index of Indonesia and 34 provinces in Indonesia. A panel data regression model is employed to identify the factors of Indonesia’s happiness index, while Geographically Weighted Panel Regression (GWPR) is specifically for 34 provinces in Indonesia. This model combination introduces a novel methodology for happiness studies by providing a comprehensive perspective. Both models produce consistent relationships and significant variables: IKLH has a significant negative relationship, while IPM and economic growth have significant positive relationships, but government expenditure is not significant. Specifically, the GWPR indicate that happiness in Kalimantan Island, parts of Sumatra, South Sulawesi, and Bali is influenced solely by IPM. The happiness of most provinces in Sumatra and the Nusa Tenggara Islands is driven by IPM and economic growth. Meanwhile, all provinces in Java Island, Lampung, North Maluku, and most of Sulawesi Island, have happiness influenced by IPM and IKLH. Finally, in the majority of eastern Indonesian provinces, happiness is shaped by IPM, IKLH, and economic growth.
Household Consumption, Inequality, and the Diffusion of E-Cigarettes in Indonesia Maylaffayyaza Salmayusti Fajri; Estro Dariatno Sihaloho
Economics Development Analysis Journal Vol. 14 No. 4 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i4.34851

Abstract

Tobacco use remains one of Indonesia’s significant public health burdens, and the rapid growth of electronic cigarettes (e-cigarettes) introduces new regulatory challenges. Data from the 2018 Basic Health Research Survey (Riset Kesehatan Dasar; RISKESDAS) show that adolescent e-cigarette use increased sharply from 1.2% in 2016 to 10.9% in 2018. Drawing on consumer behaviour theory and the diffusion of innovations framework, this study examines how household consumption, income inequality, poverty, unemployment, and demographic factors influence e-cigarette uptake in Indonesia. Using nationally representative data from the 2023 National Socio-Economic Survey (Survei Sosial Ekonomi Nasional; SUSENAS), this study applies logistic regression and accounts for clustering at the provincial level. The results indicate that higher household consumption significantly increases the likelihood of e-cigarette use. Income inequality exhibits a strong positive association, suggesting diffusion driven by more affluent adopters, whereas unemployment and poverty show negative but statistically insignificant effects. E-cigarette adoption remains concentrated among men and urban residents. Overall, the findings indicate that the diffusion of e-cigarettes in Indonesia reflects underlying socioeconomic disparities. These results underscore the importance of policies addressing affordability and marketing practices—such as excise taxation, price floors, and integrated regulatory frameworks—to mitigate the expansion of nicotine-related inequalities and Indonesia’s existing tobacco burden.
Rational and Irrational Factors Influencing Bank Stock Prices: GMM Approach Muhammad Firmansyah; Sri Budi Cantika Yuli; Stanislaw Flejterski
Economics Development Analysis Journal Vol. 14 No. 4 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i4.29643

Abstract

In the dynamic and volatile capital market, understanding the factors that influence stock prices is essential for making informed investment decisions. Stock price movements are influenced by rational, fundamental information, irrational investor behavior, and sentiment. This study aims to analyze the influence of rational and irrational factors on stock prices in the Indonesian banking sector during the 2020-2024 period. The rational variables include price-to-book value (PBV), financial literacy, technology adoption, and interest rates, while irrational influence is represented by investor sentiment or mood. Using a dynamic panel data approach with the Generalized Method of Moments (GMM), this study examines four major Indonesian banks: Bank Mandiri, BNI, BRI, and BCA. The results show that PBV, financial literacy, and technology adoption significantly affect stock prices, while interest rates have a significant negative effect. Additionally, investor sentiment has a considerable positive impact, indicating that emotional and psychological factors can drive stock price movements beyond fundamental valuation. This research presents a novel analytical model that integrates rational and irrational perspectives, offering a comprehensive understanding of stock price volatility in emerging markets. It suggests that investors, companies, and policymakers must consider both fundamental indicators and market sentiment simultaneously to make accurate, timely investment decisions.
Crime Traps in Inclusive Economic Development Meita Indah Fadilla; Gabriella Natalie Krista Anindita; Dini Hariyanti; Nauviero Farizi Syarif
Economics Development Analysis Journal Vol. 14 No. 4 (2025): Economics Development Analysis Journal
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/edaj.v14i4.30098

Abstract

Increased crime is frequently assumed to be an unavoidable consequence of economic growth and development. The impact of criminal activity creates new challenges within the community. The purpose of this research is to investigate how criminal activities affect Indonesia's inclusive economic development. Panel data using the Least Squares Dummy Variable (LSDV) method covering 34 Indonesian provinces from 2018 to 2022 were used in this research. The findings indicate that the specific types of crime, namely crimes against decency, crimes against freedom of the person, and crimes against public order, notably influence inclusive economic development. The findings indicate that crimes against life, crimes including embezzlement, fraud, and corruption; crimes against property, both violent and non-violent; crimes related to narcotics; and crimes against physical bodies do not exert a significant influence on inclusive economic development. This study underscores the necessity of a comprehensive strategy that prioritizes crime-prevention tactics and involves a variety of stakeholders to address the underlying causes of criminal activity.