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Diponegoro Journal of Economics
Published by Universitas Diponegoro
ISSN : 23373814     EISSN : 29631688     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Media publikasi karya ilmiah lulusan S1 Prodi Ilmu Ekonomi dan Studi Pembangunan Fakultas Ekonomika dan Bisnis Universitas Diponegoro yang berisi tentang kajian pembangunan dan kajian ekonomi beserta seluruh aplikasinya.
Arjuna Subject : -
Articles 5 Documents
 1 
Search results for , issue "Vol 14, No 3 (2025)" : 5 Documents clear
Estimating Willingness to Pay for Citarum River Water Quality Improvements using Benefit Transfer Mabengba David Aja Kofi; Evi Gravitiani
Diponegoro Journal of Economics Vol 14, No 3 (2025)
Publisher : Faculty of Economics and Bussiness, Universitas Diponegoro, Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.52285

Abstract

This study estimates households’ willingness to pay (WTP) for a 50% reduction in Citarum River pollution using a benefit transfer (BT) approach based on contingent valuation (CV) evidence from the Mekong River basin. The novelty of this study lies not in methodological innovation, but in the context-specific application of a function-based benefit transfer framework to one of Indonesia’s most polluted river systems, combined with explicit sensitivity and transfer-error analysis in a data-scarce setting. The paper contributes by demonstrating how BT can be responsibly applied as a screening and prioritization tool for environmental policy while clearly separating valuation results from speculative economic impact claims. Using a calibrated WTP function, the estimated mean WTP is IDR 45,000 (USD 3.10) per household per month, corresponding to an aggregated annual economic value of approximately IDR 5.4 trillion (USD 370 million) for 10 million households. Sensitivity analysis and a transfer error of 6.25% indicate acceptable reliability relative to international BT benchmarks. These findings provide policymakers with credible, transparent valuation evidence to inform river restoration planning and financing decisions in developing-country contexts where primary valuation data are limited.
Analisis Faktor-Faktor yang Mempengaruhi Industrialisasi di ASEAN Tahun 2009-2023 Asy Syifa Rizki Utami; Fitrah Sari Islami; Yustirania Septiani
Diponegoro Journal of Economics Vol 14, No 3 (2025)
Publisher : Faculty of Economics and Bussiness, Universitas Diponegoro, Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.53513

Abstract

Industrialization plays a crucial role in the economy as it is widely regarded as a key development strategy for achieving high economic growth and sustainable development. However, the contribution of the industrial sector to Gross Domestic Product (GDP) in the ASEAN region has tended to decline following the 2008 global financial crisis. This study aims to evaluate the effects of Foreign Direct Investment (FDI), domestic credit, human capital, and trade openness on the industrialization process in six ASEAN countries over the period 2009–2023. The research employs a descriptive analysis combined with a quantitative approach using a dynamic panel data model. The findings reveal that FDI and trade openness have a positive and significant impact on industrialization, while domestic credit exerts a negative and significant effect. Meanwhile, human capital shows a negative but statistically insignificant influence on industrialization. The novelty of this study lies in its use of recent post-crisis data and a dynamic panel framework to simultaneously assess financial, human capital, and trade factors in explaining the declining trend of industrialization in ASEAN countries. Therefore, governments in the six ASEAN countries need to strengthen financial sector regulation and supervision to maintain stability and anticipate potential crises that may hinder the pace of industrialization.
Financial Development, Human Capital, and Investment in 7 ASEAN Countries: A Triangular Analysis of Economic Growth Regina Safira Amaranti; Akhmad Syakir Kurnia
Diponegoro Journal of Economics Vol 14, No 3 (2025)
Publisher : Faculty of Economics and Bussiness, Universitas Diponegoro, Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.52526

Abstract

Economic growth is the main goal of all countries in the world, both developed and developing countries. Initially, growth theory only emphasized labor, capital, and natural resources, yet it often overlooked the contribution of financial systems. The financial sector will trigger economic growth through its intermediary function. The objective of this study is to see the influence of financial sector development, human capital, and investment in boosting economic growth in 7 ASEAN countries. This study employs secondary data, including gross domestic product (GDP), the ratio of broad money to GDP, the ratio of domestic credit to GDP, gross fixed capital formation, and the education index, utilizing a fixed effects model with the generalized least squares (GLS) approach as the analytical tool to estimate the regression model. The results of this study are that the ratio of broad money to GDP has a negative effect on economic growth in 7 ASEAN countries. Meanwhile, the ratio of credit to GDP, gross fixed capital formation, and the education index have a positive effect on economic growth in 7 ASEAN countries. We therefore contribute to the literature by adding the theory of economic growth, which subsequently impacts the real sector.
Analisis Perbandingan Efek Arus Modal Investor Domestik dan Asing terhadap Perubahan IHSG Krisna Darmawan; Vitriyani Tri Purwaningsih; Muhammad Mufti Hudani
Diponegoro Journal of Economics Vol 14, No 3 (2025)
Publisher : Faculty of Economics and Bussiness, Universitas Diponegoro, Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.50695

Abstract

This study aims to analyze and compare the impact of capital flows from domestic investors and foreign investors on changes in the Composite Stock Price Index (IHSG) on the Indonesia Stock Exchange. Capital flows are analyzed based on eight transaction categories classified according to the type of participant (foreign and domestic investors) and the type of transaction (value and volume). The method used is multiple linear regression with time series data of 476 observations from 2023 to 2024 sourced from the Indonesia Stock Exchange. The results indicate that transactions by domestic investors from foreign investors, show negative coefficients, implying a downward pressure on the IHSG. This study compares the effects of both domestic and foreign investors, providing an examination from the perspective of transaction types. The originality of this research lies in its disaggregated and direct comparison of domestic and foreign investor transactions within a unified empirical framework, whereas most existing studies focus primarily on foreign flows alone.
Analisis Kritis Kebijakan Hilirisasi Kelapa Sawit Indonesia Novyandra Ilham Bahtera; Manuntun Parulian Hutagaol; Harianto Harianto
Diponegoro Journal of Economics Vol 14, No 3 (2025)
Publisher : Faculty of Economics and Bussiness, Universitas Diponegoro, Semarang, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14710/djoe.48521

Abstract

Indonesia's palm oil industry is a key pillar of the national economy, contributing significantly to exports and downstream industrial development. To encourage downstreaming, increase product added value, and reduce dependence on raw material exports, the government implemented a Crude Palm Oil (CPO) export levy policy. This study analyzes the impact of this policy on exports, domestic processing capacity, and the competitiveness of palm oil products using a literature review and qualitative descriptive analysis. The results show that the export levy policy has succeeded in increasing the proportion of high-value-added processed exports, such as biodiesel and oleochemicals, while also boosting domestic industrial capacity, job creation, and foreign exchange earnings. However, a negative outcome has been the decline in export market share for raw CPO, reflecting that the transition to processed products remains suboptimal. Additionally, challenges such as non-tariff barriers, international price fluctuations, and global competition continue to affect policy implementation. In conclusion, to enhance the effectiveness of downstreaming policies, it is necessary to strengthen investment in processing technology, diversify export markets, and implement sustainability practices. These strategic steps are expected to improve global competitiveness, support the long-term sustainability of the Indonesian palm oil industry, and deliver more optimal economic benefits over time. This study contributes to the literature by providing a comprehensive upstream–downstream assessment of Indonesia’s CPO export levy policy, highlighting its role in promoting downstreaming and value-added exports while revealing persistent structural and competitiveness challenges.

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