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Global Economic, Social, and Development Review (GESDR)
Published by Universitas Surabaya
ISSN : 30903742     EISSN : 30903742     DOI : https://doi.org/10.24123/gesdr
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Global Economic, Social, and Development Review GESDR is a journal publisher that aim to provide an international platform for knowledge sharing, discussion and networking on the various aspects related to developing economies through publications of original research including theoretical and empirical papers. The journal coverage includes the following subject areas: globalization and foreign trade, social economics, and economic development
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 14 Documents
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Investment Resilience in Times of Crisis: The Nexus of Domestic, Foreign Investment, and Interest Rates on Economic Growth amidst The Covid-19
Global Economic, Social, and Development Review Vol. 28 No. 2 (2024): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v28i2.7000

Abstract

This study examines the impact of foreign investment, domestic investment, COVID-19, and interest rates on economic growth across 34 provinces in Indonesia from 2010 to 2023, a period encompassing both pre- and post-pandemic phases. The urgency of this research lies in understanding how these factors have influenced regional economic performance, particularly during the COVID-19 pandemic, which disrupted global and local economies. This study uses a Panel data regression model, fixed-effects, and robust standard errors. The result analysis reveals that the regression model explains that 44.33% of the variation in economic growth can be attributed to domestic and foreign investments; and interest rates. The probability test results show that foreign investment significantly affects economic growth more than domestic investment. Interest rates did not significantly impact economic growth during the COVID-19 period, as indicated by the statistical analysis. It implies that despite its potential role in stabilizing the economy, interest rate policies may have been less effective in fostering growth during the pandemic. These findings highlight the critical role of foreign investment and pandemic-related factors in shaping economic growth dynamics in Indonesia provinces.
The Nexus of Economic Growth, Human Development Index, and Unemployment to Income Inequality in East Java
Global Economic, Social, and Development Review Vol. 28 No. 2 (2024): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v28i2.7002

Abstract

The research seeks to analyse the complex correlation between economic growth, human development index, and unemployment on income inequality in East Java from 2018 to 2022. This study addresses the issue of inequality in East Java both theoretically and empirically. The data is obtained from the Central Agency of Statistics and the Regional Development Planning Agency of East Java Province. Through specific considerations, this study utilized panel data from the six districts or cities with the highest and lowest income inequality. The data analysis employs panel data regression with the selected model, the Common Effect Model, to examine the influence among variables. Furthermore, in describing the results of the analysis, descriptive and quantitative methods are used. The analysis shows that the three exogenous variables collectively influence income inequality. Through the T-test, it was discovered that only the human development index variable shows a significant effect on income inequality. On the contrary, economic growth and unemployment variables show no significant effect. However, all three positively correlate with income inequality in East Java from 2018 to 2022.
Agglomeration and Economic Growth: A Scoping Review of Socioeconomic Conflicts and Policy Implications
Global Economic, Social, and Development Review Vol. 28 No. 2 (2024): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v28i2.7003

Abstract

This scoping review aims to synthesize existing research on the relationships between economic agglomeration, social-economic change, and their impacts on economic growth, with a focus on identifying key conflicts and policy issues. The study employs a comprehensive literature search using databases such as Scopus, Web of Science, and Google Scholar, targeting peer-reviewed articles published in the last decade. The review process entails a meticulous examination and synthesis of selected sources, with the findings then organized into a coherent narrative review. The analysis yielded several key themes, including a positive correlation between economic agglomeration and growth, the development of specialized infrastructure and human capital, and the facilitation of knowledge spillovers. Nevertheless, the review also identifies potential adverse consequences, including the displacement of local communities, the intensification of income inequality, and the burden on public services. The study concludes by emphasizing the necessity of carefully designed policy interventions to ensure sustainable and inclusive economic growth, addressing the concerns of all stakeholders involved in the complex dynamics of economic agglomeration and social-economic change in a manner that is both equitable and effective.
Does Historical Contingency Dictate Economic Diplomacy? Evidence From CIDCA and JICA
Global Economic, Social, and Development Review Vol. 28 No. 2 (2024): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v28i2.7004

Abstract

This study examines how the historical experiences shape the approaches of developmental agencies to economic diplomacy by focusing on CIDCA and JICA through the deep-sharp lens of Path Dependence Theory. Using qualitative comparative analysis of secondary data from official documents, academic literatures, and policy papers, this research reveals distinct patterns in how the historical contingencies influence both institutional development and aid distribution strategy. JICA, established in 1974, demonstrates classic path dependence characteristics, with its human-centred development approach and technical cooperation focus deeply rooted within Japan’s post- WW2 experience. In contrast, CIDCA, founded in 2018, shows limited path-dependent features due to its recent establishment and predetermined alignment with China’s BRI. The analysis done yields three key insights – the temporal dimensions significantly affect institutional development patterns, historical experiences shape institutional approaches differently across time periods, and aid effectiveness correlates with both of those agencies’ ability to balance historical legacies with contemporary challenges. While JICA’s longer operational history has fostered a reputation for its transparency and sustainable development, CIDCA’s strategy reflects contemporary dynamics of power through infrastructure-focused development. These findings contribute to understanding of how historical contexts influence development approaches, through limitations regarding distinct operational time frames and data availability suggest the need for continued research as CIDCA evolves.
The Effect of Exchange Rates, Interest Rates, Inflation, Net Exports on Economic Growth in Indonesia
Global Economic, Social, and Development Review Vol. 28 No. 2 (2024): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v28i2.7031

Abstract

The steady transformation of a nation's economy toward improved circumstances over a given time frame is known as economic growth. It can be characterized as a rise in national income corresponding to an economy's increased capacity for production. This study examines the partial and simultaneous effects of inflation, net exports, Interest rates currency rates on Indonesia's economic development between 2015 and 2023. The data used in this study were secondary quarterly time series data from Indonesia from 2001 to 2023. Analysis is done using Ordinary Least Squares (OLS). The findings show that the currency exchange rate, SBI interest rates, inflation, and net exports all have a significant impact on Indonesia's economic growth, both separately and in combination.
Determinants of Poverty in East Java: Education, Unemployment, and Minimum Wage
Global Economic, Social, and Development Review Vol. 29 No. 1 (2025): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v29i1.7047

Abstract

This study aims to analyze the effect of average school years, open unemployment rate, and minimum wage on the number of poor people in East Java Province from 2014-2023. The research method used is quantitative with a descriptive approach, using panel data regression covering 38 districts/cities. The data analyzed were sourced from the East Java Badan Pusat Statistik (BPS), including the number of poor people, average school years, open unemployment rate, and minimum wage. The analysis shows that average years of schooling have a significant negative effect on poverty. Although the minimum wage hurts poverty, the effect is minimal. These findings emphasize the importance of improving education and reducing unemployment as the main strategies for poverty alleviation in East Java.
21st Century Competition: State & Conglomeration-Driven Capitalism
Global Economic, Social, and Development Review Vol. 29 No. 1 (2025): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v29i1.7272

Abstract

Indonesia needs to choose an economic model in order to realise its target of 8% GDP growth under Prabowo Subianto’s incoming administration. This paper compares both China’s state capitalism and South Korea’s conglomerate-driven capitalism for their relevance to Indonesia. China’s model, with a significant state intervention and SOEs prominent role, greatly driven industrialisation and average of 9% GDP growth over 30 years. Whilst South Korea’s model, dominated by conglomeration, focuses more on innovation in tech and exports, thus achieving a stable 4% average GDP growth. Employing data from the World Bank on FDI, exports, and GDP in constant 2015 USD, this paper examines both of these models using the Comparative Political-Economy framework. The findings showed that the China’s state capitalism to be more suitable for Indonesia due to capability of managing a large scale economy and the need of centralisation of resource control, infrastructure development and economic transitions. The blending of state control and market dynamics offers flexibility to tackle challenges in the economy. Nevertheless, the issues of inefficiencies must be in concern.
China and Protectionism in Advanced Manufacturing: Why It is Prioritised and How It is Done
Global Economic, Social, and Development Review Vol. 29 No. 2 (2025): Global Economic, Social, and Development Review (GESDR) (in press)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v29i2.7763

Abstract

This study offered critical reinterpretation of China’s protectionist trade policies within its advanced manufacturing sector, focusing specifically on the development of the solar photovoltaic panels, electric vehicles, and lithium-ion batteries. By moving beyond normative justification for protectionism, the analysis employed the Infant Industry Argument as a solid theoretical lens to dissect the strategic rationale, institutional mechanisms, and specific policy instruments underpinning this state-driven initiative. The research employed a qualitative, case-study methodology, drawing on historical data from official government policy documents, industry reports, and numerous academic articles. The findings demonstrated that China’s success in practicing protectionist policies on its advanced manufacturing sectors stemmed not from passive or indefinite protection but from a dynamic and unique policy architecture. Its model strategically employed initial, timely-bounded subsidies and tariffs with the active promotion of market competition and clear performance benchmarks. This approach compelled firms to innovate and achieve economies of scale. Furthermore, the protection was deliberately made to be phased out, adapting industrial maturity through gradual liberalisation. Consequently, this strategy fostered globally competitive industrial champions, thereby avoiding the technological stagnation and market distortion in historical cases. This study concluded that China’s trajectory redefined the IIA as sophisticated governance strategy where protection was inherently conditional, competitive, and transitional, demonstrating its significant efficacy.
Strategies for Empowering Small and Medium Enterprises to Promote Sustainable Tourism in Tourist Villages: A Systematic Literature Review
Global Economic, Social, and Development Review Vol. 29 No. 1 (2025): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v29i1.7786

Abstract

Micro, Small, and Medium Enterprises (MSMEs) are crucial drivers of sustainable tourism in rural communities, yet their potential is often constrained by structural challenges. This systematic literature review, conducted using the PRISMA protocol covering publications from 2020 to 2025, analyzes empowerment strategies for MSMEs in tourism villages, focusing on Indonesia and the Philippines. The findings reveal that leadership, digital innovation, and capacity development are essential for strengthening economic resilience, environmental preservation, and cultural conservation. Successful cases, such as Ponggok Village (Indonesia) demonstrate how an integrated approach—combining stakeholder collaboration, technology, and training—can enhance operational efficiency and expand market access. However, barriers such as uneven infrastructure, low digital literacy, and dependence on external funding persist, necessitating local policy interventions. This study underscores the need for inclusive governance models that prioritize marginalized groups (e.g., women and rural entrepreneurs) and align with the UN Sustainable Development Goals (SDGs 8, 9, and 11). The limitations of this research include its geographical focus on Southeast Asia and the predominance of short-term case studies. Future research should explore long-term impacts and develop measurable frameworks applicable to diverse socio-economic contexts. This paper contributes to the discourse on inclusive tourism development by providing actionable insights for policymakers, practitioners, and academics to leverage MSMEs as catalysts for sustainable rural transformation.
The Impact of Food Energy Consumption and Poverty Levels on the Prevalence of Food Inadequacy in Indonesia
Global Economic, Social, and Development Review Vol. 29 No. 1 (2025): Global Economic, Social, and Development Review (GESDR)
Publisher : Economics Departement, Faculty of Business and Economics, Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24123/gesdr.v29i1.7895

Abstract

Food security in Indonesia continues to face serious challenges despite the declining poverty rate, indicating that income growth alone does not necessarily translate into improved nutritional outcomes. This study examines the effects of household food energy consumption and poverty levels on the prevalence of inadequate food consumption across 34 provinces in Indonesia from 2019 - 2024. The findings reveal that higher household food energy consumption significantly reduces the prevalence of inadequate food consumption, whereas poverty levels do not exhibit a significant effect. These results diverge from much of the existing literature that positions poverty as the primary determinant of food insecurity. The novelty of this study lies in demonstrating that food energy adequacy exerts a more direct and consistent influence than poverty status in explaining food insecurity at the provincial level. The policy implication is that poverty alleviation alone is insufficient to address nutritional deficiencies. Instead, interventions should focus on improving household access to energy-dense and nutritious foods through local agricultural development, food price stabilization, and targeted nutrition programs. Such strategies are considered more effective in supporting the achievement of the Zero Hunger target in Indonesia.

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