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Journal of Economics Business Industry
Published by Lembaga Penelitian dan Ilmu Pengetahuan JEPIP
ISSN : 30250528     EISSN : 30250986     DOI : https://doi.org/10.59976/jebin
Core Subject : Economy, Science,
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Journal of Economics Business Industry is a journal through a peer-review process.  Journal of Economics Business Industry for academics and researchers to publish their articles which is an original text that has not been published in another journal. The focus and scope are in the fields of Economics Industry, Mangement and Industry Businees, Economics Finance, Economics accounting, Economics Business.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 45 Documents
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Geopolitical Risk and Renewable Energy Equity Markets through Energy Commodity Price Connectedness Kerem Öztürk; Emirhan Yıldız; Sena Aydın; Ayşe Nur Çelik; Elif Şahin; Mert Demir
Journal of Economics Business Industry Vol. 3 No. 2 (2025): November
Publisher : Lembaga Penelitian dan Ilmu Pengetahuan JEPIP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59976/jebin.v3i2.315

Abstract

This study examines whether geopolitical risk (GPR) transmits to renewable energy equity markets through an energy commodity price mediation channel, 717 daily observations from February 24, 2022 to December 31, 2024. Employing the Quantile Time-Varying Parameter Vector Autoregression (QTVP-VAR) connectedness framework, this study incorporates European natural gas prices (TTF), Brent crude oil, and three renewable energy indices — ECO, ERIX, and SPCE — to examine tail-dependent risk transmission across bearish (τ = 0.05), median (τ = 0.50), and bullish (τ = 0.95) market states. Results reveal that total connectedness escalates from 17.1% at the median to 52.3% at the upper tail, confirming pronounced asymmetric risk transmission absent in conventional mean-based frameworks. TTF emerges as the dominant mediating channel, while direct GPR-to-equity transmission remains secondary. SPCE exhibits the highest tail sensitivity among renewable indices. Findings offer critical implications for portfolio risk management, regulatory capital requirements, and European energy policy design.
Financial Wellbeing of Poor Households in Eastern Indonesia: Role of Digital Financial Inclusion Maria Oktaviani Lede; Yohanes Rafael Benu; Daniel Putra Nggili
Journal of Economics Business Industry Vol. 3 No. 3 (2026): March
Publisher : Lembaga Penelitian dan Ilmu Pengetahuan JEPIP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59976/jebin.v3i3.319

Abstract

This study examines the determinants of financial wellbeing among poor households in Eastern Indonesia, with particular emphasis on the mediating role of digital financial inclusion. Focusing on East Nusa Tenggara (NTT) and West Nusa Tenggara (NTB), the study addresses the persistent financial vulnerability of poor households living in regions characterized by high poverty, limited formal financial access, and uneven digital infrastructure. Primary survey data were collected from 405 poor households whose income fell below the provincial poverty line, consisting of 248 respondents from NTT and 157 respondents from NTB. The data were analyzed using partial least squares structural equation modeling (PLS-SEM), followed by multigroup analysis to compare provincial differences. The findings show that financial behavior, financial literacy, and digital financial inclusion have significant positive effects on household financial wellbeing. However, digital literacy, digital financial service infrastructure, and financial service providers do not directly affect financial wellbeing. Instead, digital financial inclusion fully mediates the effects of infrastructure and financial service providers on financial wellbeing. The multigroup analysis reveals that digital financial inclusion has a stronger impact on financial wellbeing in NTT, while infrastructure and financial service providers have stronger effects on digital financial inclusion in NTB. These results highlight the importance of strengthening digital financial inclusion as a strategic pathway to improve the financial wellbeing of poor households. Policy interventions should prioritize financial education, affordable digital financial products, reliable digital infrastructure, and locally adapted financial services for underserved communities in Eastern Indonesia.
Macroeconomic Scalar Adjustment for Probability of Default in Expected Credit Loss Models Lucas Almeida Ribeiro; Beatriz Oliveira Santos; Rafael Henrique Martins; Sofía Hernández Castillo; Camila Rodríguez Navarro
Journal of Economics Business Industry Vol. 3 No. 3 (2026): March
Publisher : Lembaga Penelitian dan Ilmu Pengetahuan JEPIP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59976/jebin.v3i3.324

Abstract

The expected credit loss framework established under International Financial Reporting Standards Foundation 9 is structured around three core components: probability of default, loss given default and exposure at default. Among these three elements, the probability of default component most frequently lacks a coherent mechanism for embedding macroeconomic dynamics into the estimation process, a deficiency that carries particular weight in Latin American developing economies where economic volatility is a persistent structural feature. This article applies a novel five-step macroeconomic scalar methodology for dynamically adjusting the probability of default through the systematic integration of forward-looking macroeconomic information, with empirical application to unsecured retail portfolios in Brazil and Mexico. Unsecured retail lending portfolio datasets sourced from regional banking institutions in Brazil and Mexico provide the empirical basis through which the proposed methodology is validated across two economically distinct Latin American environments. The methodology advances through five sequential stages: research and planning; data preparation; model development; scalar calculation; and model validation. Comparative modelling draws on multiple regression, generalised linear models with logit and probit specifications, and machine learning techniques encompassing feedforward neural networks, random forests and gradient boosting. Model performance is evaluated through mean absolute error, mean absolute percentage error and mean squared error. Data collection extends to December 2024. The macroeconomic scalar produced consistent and economically coherent probability of default adjustments within the expected credit loss model for both Brazil and Mexico. Each modelling technique contributed distinct analytical insights, and the scalar demonstrated reliable capacity to improve expected credit loss forecasts across environments characterised by interest rate volatility, persistent inflation and exchange rate depreciation. Embedding a macroeconomic scalar within the expected credit loss framework constitutes a disciplined and auditable method for incorporating forward-looking information while preserving the model interpretability that bank boards, auditors and regulators require in Latin American credit markets. This article delivers a replicable approach for macroeconomic probability of default adjustment in expected credit loss models calibrated specifically to Latin American economic conditions. Structured implementation guidelines are provided for practitioners operating under International Financial Reporting Standards Foundation 9 in Brazil and Mexico.
Exchange Rate Shocks and Domestic Price Adjustment in Southeast Asia Nur Amirah binti Ismail; Aiman Hakimi; Daniel Lim Wei Jun; Katrina Mae Villanueva; Paolo Gabriel Mendoza
Journal of Economics Business Industry Vol. 3 No. 3 (2026): March
Publisher : Lembaga Penelitian dan Ilmu Pengetahuan JEPIP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59976/jebin.v3i3.329

Abstract

Exchange rate pass-through (ERPT) has emerged as a central concern for monetary authorities in open emerging economies navigating the dual pressures of external volatility and domestic price stability. This study examines the dynamics of ERPT in three Southeast Asian economies  Malaysia, Thailand, and the Philippines over the period from 2010 to 2024. The analysis employs a Vector Autoregressive (VAR) model and a Vector Error Correction Model (VECM), with Cholesky decomposition for structural identification. Impulse response functions (IRFs) trace the response of producer prices, import values, and consumer prices to real effective exchange rate shocks over a twelve-month horizon. The Johansen cointegration procedure confirms long-run equilibrium relationships among variables, and the Granger causality test is applied to determine the direction of short-run causality. The findings indicate that ERPT to consumer prices is low and incomplete across all three countries, though heterogeneous in magnitude and persistence. Malaysia exhibits a unidirectional causal flow from the real effective exchange rate (REER) to the Consumer Price Index (CPI), with a low long-run pass-through coefficient of 0.145. Thailand shows an insignificant short-run response to REER shocks, consistent with its credible inflation-targeting framework, yet a moderate long-run estimate of 1.089. The Philippines records the highest pass-through coefficient of 1.823 in the long run, reflecting its greater exposure to external price pressures and more volatile currency dynamics. The error correction terms are negative and significant in all three countries, confirming a self-correcting mechanism toward long-run price equilibrium. These findings carry important implications for the design of inflation-targeting frameworks, the management of exchange rate regimes, and subsidy reform strategies across ASEAN economies.
Inequality Persistence in Papua and West Papua through Urban Rural Spatial Divergence Kevin Jonathan Wijaya; Yohanes Michael Kogoya; Samuel Tabuni; Maria Kogoya; Grace Wambrauw
Journal of Economics Business Industry Vol. 3 No. 3 (2026): March
Publisher : Lembaga Penelitian dan Ilmu Pengetahuan JEPIP

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59976/jebin.v3i3.333

Abstract

This study analyzes the persistence of consumption inequality in Papua and West Papua by emphasizing the role of spatial divergence between urban and rural areas. The study uses six waves of Indonesia’s National Socioeconomic Survey (SUSENAS) from March 2010, 2014, 2017, 2020, 2022, and 2025, with a consistent classification of ten spatial zones to ensure comparability before and after administrative expansion. The methods employed include Shapley decomposition to separate spatial and non-spatial inequality across the Gini index, Mean Log Deviation, Theil index, and GE(2), as well as Recentred Influence Function (RIF) regression and the Blinder-Oaxaca approach to identify regional contributions and household-level determinants. The findings show that consumption inequality increased from a Gini coefficient of 0.355 in 2010 to 0.412 in 2020, declined to 0.389 in 2022, and rose again to 0.393 in 2025. Since 2014, spatial inequality has become the main driver of rising inequality, particularly through the concentration of formal economic activity and mining rents in Jayapura and Timika, alongside the continued isolation of rural areas in the Papuan Highlands. Education and participation in non-subsistence employment are identified as key mediating factors that reinforce disparities across spatial zones. These findings indicate that reducing inequality in Papua and West Papua requires policies that go beyond fiscal transfers, including equal access to education, market integration, infrastructure development, and conflict resolution in highland areas.

Page 5 of 5 | Total Record : 45

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