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INDONESIA
JEJAK
Published by Universitas Negeri Semarang
ISSN : 1979715X     EISSN : 24605123     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
JEJAK: Jurnal Ekonomi dan Kebijakan p-ISSN 1979-715X | e-ISSN 2460-5123 is a scientific journal that contains the results of research and theoretical studies in the field of economic development, especially on matters of economic policy in Indonesia was published by the Department of Economic Development, Faculty of Economics, Semarang State University and Indonesian Economics Bachelor Society.
Arjuna Subject : -
Articles 15 Documents
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Search results for , issue "Vol 16, No 1 (2023): March 2023" : 15 Documents clear
Financing Biofuel Through Green Sukuk Corporate: Stage, Potential, and Maturity
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 1 (2023): March 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i1.43270

Abstract

Climate mitigation and adaptation policy financing have emerged as a critical topics in climate discussions. Effective financing schemes are often debated as potential mitigation measures, with the proceeds going toward adaptation activities. This research aims to investigate the viability of green sukuk corporate as a source of financing for biofuel development initiatives in Indonesia. A forecasting process, indexation, and early warning system (EWS) method are used to test the model to assess possible risks at a specific maturity level. In this study, factor variables include GDP, Inflation, the Jakarta Islamic Index (JII), sukuk corporate outstanding, and accumulated sukuk corporate issued. The main findings of this study suggest that to generate sustainable biofuel finance, three-stage models/concepts must be built; the commitment to business as usual, the greenhouse gas mitigation stage, and the debt repayment stage. In terms of potential, the trend of green corporate sukuk is toward greater participation by sovereigns and non financial corporations. In terms of maturity, corporate green sukuk requires a longer repayment period than conventional bonds, with a time tenor of 3–5 years being suitable. Finally, we show that the issuance of green corporate sukuk is supported by macroeconomic stability. The bond scheme can be repaid and carried out to provide sustainable benefits for renewable energy.
Evaluation of National Financial Inclusion Strategies in Non-Profit Institution: SME Center UI
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 1 (2023): March 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i1.39214

Abstract

This study analyzes the factors and the level of success of the national financial inclusion strategy implemented by non-profit institution SME Center UI or SMEC (Small Medium Enterprises Centre, Universitas Indonesia) using the perceptions of the assisted MSMEs (Mikro Small Medium Enterprises). This research was conducted in 2018 using a quantitative survey with a questionnaire as a data collection method. A sample of 73 respondents came from MSMEs assisted by SMEC, which selects by purposive sampling. The questions in the questionnaire are arranged based on the services provided by SMEC to its MSMEs. Factor analysis uses to identify the factors of the national financial inclusion strategy implemented by SMEC. Then the results will be calculated using a composite index to see the level of success of the national financial inclusion strategy. NFISPI  in the moderate category, with a score of 76.37%. The success of financial inclusion strategy depend on kinship and cooperation, financial education, financial responsibility, welfare support, central regulation, benefits of access to finance, and wisdom financial leadership. There needs to be more for SMEC in realizing the goals of NFIS, which see from the gap in access to finance between male entrepreneurs (58%) and women (42%). Empirical results have proven that kinship and cooperative strategies are important factors in the success of financial inclusion for MSMEs.  Collaboration between the education sector and the ministry of cooperatives and SMEs is needed to strengthen MSME businesses through kinship and mutual assistance.
Reducing Youth Unemployment in Indonesia: Identifying Financial Strategy for Technical and Vocational Education and Training
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 1 (2023): March 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i1.40633

Abstract

With a large youth population, Indonesia faces both the challenge and the opportunity to increase its capacity and maximize its contribution to the country's economic growth. Empowering youth with skills and knowledge matching industry demand will benefit the private sector and society. Technical and Vocational Education and Training (TVET) is an avenue to connect school and workplace environments directly and accelerate its graduates becoming employed and productive in the very early stage of their careers. However, existing TVET institutions, especially in upper secondary education, still need to be improved due to their low employment rate compared to other graduates from different educational streams. Based on quantitative analysis using entropy balancing and instrumental variable method, the impact of vocational secondary school on employment and wage levels is more prominent in the younger graduates and diminished in the older age group. This situation raises concerns about how to strengthen existing TVET institutions so they can provide updated skills and knowledge and maintain TVET graduates' competitive advantage throughout their careers.
Modelling Biodiesel Production of Banking Scheme With Spline Regression
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 1 (2023): March 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i1.43239

Abstract

The portion of renewable energy, one of which is biodiesel production in Indonesia, still relatively low due several obstacles, such as the banking financing scheme. Therefore, this research was carried out by involving banking variables, including the banks, third parties fund and Gross Domestic Regional Product of each province to find the best model that affected the rate of biodiesel production in Indonesia. The Spline Regression method was employed here. Modelling the rate of biodiesel production was done by using the knots point method with the smallest GCV Value. Based on the findings, all variables had an influence with a coefficient of determination of 50%, meaning that the model formed was feasible to use in the modelling data patterns. Among these 3 variables, the variable banks had the best influence in determinang tha rate of biodoesel production in each province in Indonesia. In conclusion, the financing scheme from the banking side is an important thing to do considering that the more the number banks in a province, the greater the development potenstial of biodiesel production from each of these provinces.
The Monetary and Macroeconomic Conditions on Interest Rate Spread: Empirical evidence from Indonesia
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 1 (2023): March 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i1.44195

Abstract

This study examines the Interest Rate Spread (IRS) in Indonesia which is influenced by monetary instrument variables, macroeconomic conditions, and event structural changes (Asian Crisis, Global Financial Crisis, COVID-19 and Election year). The analytical method used is the Autoregressive Distributed Lag (ARDL) Model with data observations from 1990 - 2021. The purpose of this study is to determine the strength of the IRS on economic conditions in Indonesia. The results of the analysis show that in the long run, M2, total credit and inflation have a negative effect on the IRS variable, while the household consumption variable has a positive effect. The policy implications need to be applied in efforts to control the IRS are related to monetary policy.

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