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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 860 Documents
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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.
Analysis Factors Influencing Economic Growth, Unemployment and Poverty in Indonesia Imda Safitri; Moehadi Moehadi; Joko Hadi Susilo; Endang Endang
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 2 (2023): September 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i2.42032

Abstract

This research was conducted on the basis of several problems that occurred in Indonesia, namely, the lack of economic resilience and the impact of the global crisis, which can affect uneven levels of economic growth, unemployment caused by a mismatch between labor skills and labor market demand, and can lead to poverty due to income inequality. The purpose of this research is to determine the characteristics of the variables that influence economic growth, unemployment and poverty in Indonesia. This research will later discuss the simultaneous model relationship between variables that affect economic growth, unemployment, and poverty using the Three Stage Least Square (3SLS) method. The research object consists of 34 provinces in Indonesia in the period 2012-2021. The research results showthe unemployment, inflation, and investment variables have a significant positive effect on economic growth which has a probability value of less than 0.05 and a positive coefficient value, while the human development index variable has a prob value. less than 0.05 and the coefficient is negative so it has a significant negative effect. The results of the second equation, the Human Development Index and economic growth have a significant effect on the prob value. 0.00 0.05, while labor has a significant negative impact with a prob value. 0.05 and the coefficient is negative, while the poverty variable has a prob value. 0.06 0.05 so it has no significant effect on unemployment. Analysis of the results of the third equation reveals that poverty is significantly affected by the gini ratio with the prob value. 0.00, but not affected by unemployment or the minimum wage because the probability value is more than 0.05.
Effect of Secondary School Types to The School-Work Transition in Indonesia Ruth Eviana Hutabarat; Brillian Akbar Aminullah; M. Afif Khoiruddin; Kartika Sari
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 2 (2023): September 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i2.38391

Abstract

The purpose of this study is to examine how the choice of the type of secondary school (JHS-SHS) affects transition decisions after graduating from high school. Using the multinomial logistic regression method, this study uses data from the Indonesian Family Life Survey (IFLS) wave five (2014) with a total of 3209 samples from all over Indonesia. The results showed that individual graduates from private schools had a positive toward the tendency to work informally. Private and public high school graduates tend not to work formally, respectively. Male individuals will tend to work informally and formal. In contrast, female individuals tend to continue their higher education. Individuals with married status tend to work informal, and unmarried individuals tend to continue their higher education. Individuals with a female head of home care to work in the formal sector and those with a male head of home tend to continue their higher education. while individuals who live outside Java/Bali tend to work in the informal sector.
Cashless Society: Cluster Analysis of Electronic Payment Users in E-Commerce Shiddiq Sugiono; Reninta Dewi Nugraheni
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 2 (2023): September 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i2.42451

Abstract

Due to its ability to allow multiple electronic transactions, e-commerce is one of the ecosystems that helps to create a cashless society. In order to have a general understanding of the development of the cashless society, it is necessary to investigate the characteristics of behavior that underpin cashless transactions in e-commerce in Indonesia. The goal of this study is to examine the characteristics of cashless payment method consumers in Indonesian e-commerce. K-Medoids analysis was used to classify the survey's 519 participants into various groups. The research shows that it is most appropriate to divide users of cashless payments in e-commerce into three groups. Generation Z who are employed are the primary features of the first group. The second is older Millennial Generation cluster characterized by older males in supervisory roles and higher expenses than other groups. The findings also indicate that Generation Z Early Adopters, third cluster, has begun adopting electronic transactions for security purposes. Additionally, each group agreed to adopt electronic transactions for easy of use reasons.
Income Inequality in a Democratic and Social Perspective in Indonesia Candra Mustika; Haryadi Haryadi; Junaidi Junaidi; Zamzami Zamzami
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 2 (2023): September 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i2.36379

Abstract

The purpose of this study was to determine and analyze the influence of the democracy index, aspects of civil liberties, aspects of political rights, and aspects of democratic institutions, crime rates, access to information from the internet, on inequality in income distribution. The research method used in this study is descriptive quantitative using panel data multiple regression analysis. This study uses panel data with objects from 34 provinces in Indonesia with a research period from 2014 to 2020. Based on the results of panel data regression with a random effects model, it shows that aspects of democracy both in general through the democracy index variable and specifically through the variable aspects of civil liberties, aspects of political rights and aspects of democratic institutions both have a positive and significant effect on income distribution inequality, as well as the variable number of criminal acts has a significant positive effect on income distribution inequality. Meanwhile, access to information has a significant negative effect on income distribution inequality.quality.
Trade Policies Support for Palm Oil Downstreaming in Indonesia Saleh Husin; Chandra Wijaya; Hanief Saha Ghafur; T.M. Zakir Machmud; Eugenia Mardanugraha
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 16, No 2 (2023): September 2023
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v16i2.47199

Abstract

The optimal trade policies are essential to determine the balance between international trade liberalization and protection in order to advance palm oil. Protection is carried out by limiting the export of CPO, while the liberalization applies to raw supporting materials that are not produced in Indonesia. However, the export limitations need to be implemented carefully to avoid counterproductivity to the palm oil industry. This study recommended necessary trade policies to enhance palm oil downstreaming, as well as assessed existing efforts and current policies. This study estimated that a 5% reduction in upstream product export and a 15% increase in downstream product export could rise Indonesian foreign exchange earnings by approximately 7 million USD annually. Descriptive statistics and value-added calculations were employed in this study. Indonesia should restrict the Crude Palm Oil (CPO) towards the countries that exclusively involved in the palm oil trade, guaranteeing that Indonesian palm oil products reach nations where they are utilized. To protect palm oil downstreaming industries, including food, cosmetics, detergents, chemicals, and animal feed, it is vital to regulate imports. Furthermore, strategic trade policies should be enacted to facilitate the export of these refined products. Strengthened negotiation and diplomatic capabilities are also indispensable. 

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