Jurnal Ekonomi dan Studi Pembangunan (JESP)
Jurnal Ekonomi dan Studi Pembangunan focuses on scientific papers related to development economics include critical analysis of economic development issues, local economic development, community economic development, economic growth, international trade and finance, fiscal and monetary policy, welfare economy, and development policy concering the Small and Medium Entreprises. Special consideration is given to research paper that critically studies using multi perspectives such as sosio-economic, cultural-economic, political-economic, historical and geographical, and technological perspectives.
Articles
129 Documents
<![CDATA[The Role of Economic Freedom in Integrating Developing Asian Countries into Global Value Chains ]]>
<![CDATA[Cavin Dennis Tito Siregar]]>;
<![CDATA[Estro Dariatno Sihaloho]]>;
<![CDATA[Harsa Pratama Syarief]]>;
<![CDATA[Wiksa Dana]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 12, No 2 (2020) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v12i22020p078
<![CDATA[The world economy is increasingly more globalized and Global Value Chains (GVCs) played a greater role in international trade and production which provides opportunities for economic growth and development. This paper examines the linkages between economic freedom and Global Value Chains. The developing nations in Asia need to have the ability to integrate themselves in GVCs in order to gain access to higher-value activities in GVCs. The objective of this study is to see the impact of the Economic Freedom Index, Female Labor Force Participation Rate and the Global Competitiveness Index (GCI) in Asian countries considered as developing economies by the IMF on the countries’ position in GVCs measured using value-added indicators. The presence of the Global Competitiveness Index (GCI) variable can indicate the role of government, consistency of policies, infrastructure and institutional formation, which is correlated in the level of Economic Freedom of developing nations. This paper uses the Data Panel regression model consisting of multiple indicators of all the variables used from 25 developing countries in Asia from 2009 to 2017. Analysis indicates that the variables have an overall positive relationship with the level of integration of the countries into GVCs.]]>
<![CDATA[Will Demographic Changes Affect Monetary Policy with Interest Rate Shocks in Indonesia? ]]>
<![CDATA[Ciplis Gema Qori'ah]]>;
<![CDATA[Catur Sugiyanto]]>;
<![CDATA[Amirullah Setya Hardi]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 14, No 2 (2022) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v14i22022p182
<![CDATA[Changes in the demographic structure and its impact on the economy are becoming interesting issues in almost all countries in the world, including Indonesia. Until 2030, the working age group dominates almost 60 percent of the total population in Indonesia. This phenomenon is a valuable asset which should be used optimally. Moderate adjustment of interest rate policy is an effort applied by Bank Indonesia to maximize the access to credit and public savings. Therefore, this study aims to determine the effect of demographic aspects and the real sector on the effectiveness of monetary policy in the presence of interest rate shocks. This study employed time series data with a time period of 1987Q1 – 2020Q4 in Indonesia. The analysis was performed by using time varying parameter-vector autoregressive (TVP-VAR) and fully modified-ordinary least square (FM-OLS). The results revealed that the population and the elderly population aspects had significant positive effects on the monetary policy, while the variable of productive age and the number of dependence aspects has significant negative effects. The relationship between the real sector and the monetary policy has a different relationship, such as a positive relationship between the savings and technology variables and the domestic credit variable which has a significant negative relationship with the monetary policy.]]>
<![CDATA[Money Laundering Observation from Outer Space ]]>
<![CDATA[Agung Andiojaya]]>;
<![CDATA[Riana Rizka]]>;
<![CDATA[Titi Kanti Lestari]]>;
<![CDATA[Radenroro Nefriana]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 16, No 1 (2024) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v16i12024p052
<![CDATA[This paper examines the potential of nighttime light (NTL) data as an alternative data source to predict the number of money laundering events. The study is based on the assumption that money laundering as one of financial crime categories is linked to economic development, and previous research has explored the relationship between NTL and both economic data and crime. Panel regression analysis with random effects was used to investigate the potential of NTL data to estimate money laundering activity, which was measured using Suspicious Transaction Reports (STRs) data as a proxy variable. The results suggest that NTL data can be a promising tool for estimating money laundering activity, providing new insights into the use of alternative data sources in predicting this illegal activity. The findings of this research could also contribute to the development of more effective anti-money laundering strategies by law enforcement and policymakers.]]>
<![CDATA[A Panel Approach: How Does Government Expenditure Influence Human Development Index? ]]>
<![CDATA[Anisa Fadilah]]>;
<![CDATA[Candra Fajri Ananda]]>;
<![CDATA[David Kaluge]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 10, No 2 (2018) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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<![CDATA[This study investigates the influence of government spending on education index, health index, income index of regional, under-develop and develop governments in East Java, Indonesia. In addition, this paper estimates the influence of government spending on the development of cities and districts in East Java. This study applied a quantitative approach by using the Fixed Effect Model and Random Effect Model as the panel data analysis method. There were 38 cities and districts used as the analysis units during 2010-2015. The findings showed that government spending on education, health, and economic has a positive significant influence on every component of human development index. In addition, government spending on infrastructure has a significant influence on the education index and income index yet it does not significantly influence the health index. Furthermore, this study provided the different results of government spending on under-developed and developed regions. Keywords: Government Spending, Human Development Index, Education IndexJEL Classification: H72; I31 ]]>
<![CDATA[The Impact of Corruption and Fiscal Policy on Economic Growth in ASEAN Countries ]]>
<![CDATA[Rizki Apriani]]>;
<![CDATA[Abdul Bashir]]>;
<![CDATA[Muhammad Subardin]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 17, No 1 (2025) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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<![CDATA[This study investigates the impact of government spending, the interaction between corruption and fiscal levels, government debt, and foreign direct investment on economic growth in seven ASEAN countries. Using the World Development Indicators database in the form of time series from the World Bank and the Asian Development Bank for 2000-2021. The approach used is panel data regression using a fixed effect model. The findings show that government spending and foreign direct investment have positive and significant contributions to the economic growth of seven ASEAN countries. There is strong evidence that the interaction between fiscal levels and corruption can distort the fiscal policy mechanism, thereby inhibiting economic growth. Additionally, there is strong evidence that high government debt causes economic growth to contract. Policymakers must strike a compromise between promoting economic expansion through public expenditure and preserving fiscal stability through debt management. To foster an environment that is favorable to investment, efforts to combat corruption must be constantly carried out. To promote equitable and long-term growth, authorities must also concentrate on enhancing the caliber of infrastructure and human resources.]]>
<![CDATA[Bank Credit Development: A Study of Macro-Prudential Effect ]]>
<![CDATA[Sebastiana Viphindrartin]]>;
<![CDATA[Silvi Asna Prestianawati]]>;
<![CDATA[Ayman Nazzal]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 11, No 2 (2019) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v11i22019p177
<![CDATA[Macroprudential policy is a policy that leads to the analysis of the financials systems as whole as of financials individuals including banking. This research want to show the effect of macroprudential policy on the development of banking credit in Indonesia by using monthly time series data from January 2010 until June 2017. This research uses several variables namely credits, exchange rates, Return on Assets (ROA), Loan to Deposits Ratio (LDR), Capitals Adequacy Ratio (CAR) and interest rates. The method used in this research is using Autoregressive (VAR). The result of this study indicate that macroprudential policy has an effect on the development of bank credit in Indonesia. Macroprudential policy that is Loan to Deposits Ratio (LDR) have an influence in improving credit development in Indonesia. In addition, the change in interest rate from the BI Rate to BI 7 Day Repo Rate affect the development of credit in Indonesia. Profit earned and capital owned by banks also affects the development of credit in Indonesia. These results are supported by Impulse Response Function (IRF) and Variance Decompotition (VD) tests where macroprudential policy appears stable in response to credit shocks.]]>
<![CDATA[Regional Cooperation and Economic Integration: Recent Evidence from ASEAN ]]>
<![CDATA[Rama Vandika Daniswara]]>;
<![CDATA[Ivana Ivana]]>;
<![CDATA[Deshinta Rahma Dhani]]>;
<![CDATA[Shafira Aulia Utami]]>;
<![CDATA[Mohamad Dian Revindo]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 14, No 1 (2022) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v14i12022p038
<![CDATA[The Asian financial crisis in 1997/98 and the global financial crisis in 2007/8 suggest that more research on economic integration is needed. This study aims to examine the depth and path of integration in the real and financial sectors among ASEAN member states during 1999-2019. The Augmented Dickey-Fuller–Generalised Least Squared (ADF-GLS) test results show stronger evidence of ASEAN real sector integration than its financial sector. Further, time lag analysis shows that the adjustments of interest rates in ASEAN countries are slower than those of price levels in the real economy. Academic and policy implications of the findings are provided, mainly on the need for stronger cooperation in ASEAN’s financial sector.]]>
<![CDATA[The Monetary Policy Transmission Mechanism In Indonesia: a Comparative Analysis ]]>
<![CDATA[Elisa Elisa]]>;
<![CDATA[Muhammad Subardin]]>;
<![CDATA[Sri Andaiyani]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 15, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v15i22023p064
<![CDATA[This study analyses a comparison of the role monetary policy transmission mechanism between the interest rate channel and the exchange rate channel in Indonesia for the 2011-2020 period. The type of data is quantitative with secondary data sources, namely the Central Bureau of Statistics and Bank Indonesia. The analytical method used is the Error Correction Model (ECM). The results show that the exchange rate channel is more effective than the interest rate channel because all variables in the exchange rate channel, both in the short and long term, have a significant effect. Exchange rate and inflation variables can give a positive response to economic growth, while net exports and real interest rates give a negative response. The contribution made by the exchange rate channel is 99 percent in the short term and 72.83 percent in the long term. Meanwhile, on the interest rate channel both in the short and long term, the variable deposit rates, real interest rates, inflation, and lending rates have a significant effect on giving a negative response to economic growth. However, loan interest rates are not significant in the short term. Meanwhile, loan interest rates provide a positive response in the long term. The contribution made by the interest rate channel is 65.07 percent in the short term and 86.38 percent in the long term.]]>
<![CDATA[The Effect of Investment Toward Economic Growth in The Local Economy ]]>
<![CDATA[Saadah Yuliana]]>;
<![CDATA[Abdul Bashir]]>;
<![CDATA[Siti Rohima]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 11, No 1 (2019) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v11i12019p028
<![CDATA[This study to analyze the role of investment such as total foreign direct investment and domestic direct investment, inflation, and road infrastructure to the economic growth of South Sumatera Province, Indonesia. The data used is time series data from 2007-2015, the scope of this study is 15 districts/city in South Sumatera Province, which is sourced from the publication of Central Bureau of Statistics (BPS) and the publication of the Investment Coordinating Board (BKPM) South Sumatra Province. The analysis method in this study is quantitative analysis using data panel multiple regression model. The finding of this study that investment, inflation, and road infrastructure development jointly has positive and significant effect on the economic growth. Meanwhile, partially indicating that investment and road infrastructure have positive and significant impact to economic growth, while inflation has positive sign but insignificant effect on economic growth of South Sumatera Province]]>
<![CDATA[The Impact of Regional FTA on Export of Manufactured Goods: The Implementation of Gravity Model in Indonesia ]]>
<![CDATA[Marcelina Ribka Feonie Br. Siahaan]]>;
<![CDATA[I Gede Agus Ariutama]]>
<![CDATA[ Jurnal Ekonomi dan Studi Pembangunan Vol 13, No 2 (2021) ]]>
Publisher : <![CDATA[Universitas Negeri Malang ]]>
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DOI: 10.17977/um002v13i22021p100
<![CDATA[Indonesian exports have not shown their best performance since Indonesian exports are still based on raw commodities, not manufactured commodities, causing Indonesia to experience a negative trade balance. Therefore, this study aims to investigate the impact of the six regional FTAs applied in Indonesia and related trade factors on Indonesian exports of manufactured goods with 40 partner countries using gravity model during 2002-2019 as a means of evaluation. The result indicates that the regional FTA has positive impact on Indonesian exports of manufactured goods. It also indicates that the regional FTA only causes trade creation effect. Furthermore, Gross Domestic Product (GDP) of two countries, economic distance, trade openness and the effective real exchange rate of partner countries significantly affect Indonesian exports of manufactured goods. Thus, it can be concluded that regional FTAs in both countries along with economic growth of Indonesia and partner countries, economic distance, trade openness and real effective exchange rate of partner countries are advantageous for Indonesian trade policy to increase the exports of manufactured goods.]]>
