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Journal of Indonesian Applied Economics
Published by Universitas Brawijaya
ISSN : 19077947     EISSN : 25415395     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Journal of Indonesian Applied Economics (JIAE) is an online journal sponsored by the Faculty of Economics and Bussiness, Universitas Brawijaya. The purpose of this journal is to enhance the study of economic issues on all aspects of applied economics and finance.
Arjuna Subject : -
Articles 169 Documents
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Is Extreme Poverty in Indonesia is Going to End? Darma, Amdi Veri; Wicesa, Nayaka Artha; Setyanti, Axelllina Muara; Rochmat , Teguh Maulidi
Journal of Indonesian Applied Economics Vol. 12 No. 1 (2024): February 2024
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2024.012.01.9

Abstract

Purpose This research aims to analyze and project extreme poverty in Indonesia. Through the method of descriptive statistical analysis and cluster analysis, it is found that the rate of decreasing in the extreme poverty rate is higher than the rate of decreasing in non-extreme poverty Design/methodology/approach The methods used to answer research problems are descriptive statistical analysis, econometric forecasting model analysis, and cluster analysis. Findings It is found that the rate of decreasing in the extreme poverty rate is higher than the rate of decreasing in non-extreme poverty. In addition, through forecasting analysis it is also found that Indonesia will be able to reduce extreme poverty to 0.30% in 2024. However, the decreasing in extreme poverty to zero percent in 2024 will be realized if the acceleration of handling extreme poverty is carried out in an integrated way through the collaboration of two interventions of extreme poverty reduction program group, that are reducing expenses and increasing income Research limitations/implications This research is expected to be a positive reference for the Indonesian government in implementing extreme poverty reduction policies to zero percent in 2024. Originality/value This research addresses the President of Indonesia's goal of achieving zero percent extreme poverty by 2024, filling a gap in existing studies. Its significance lies in evaluating the feasibility of this ambitious target.
FORECASTING THE STOCK PRICE OF COAL AND COAL COMMODITY COMPANIES USING THE ARIMA AND ARCH/GARCH MODELS FOR 2011-2022 Nuryadin, Didi; Sarayuda, Ida Bagus Putu Cesario Putra; Nada, Dewi Qutrun; Ira
Journal of Indonesian Applied Economics Vol. 12 No. 2 (2024): August 2024 (IN PRESS)
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2024.012.02.10

Abstract

Purpose This research is a case study for the reference price of coal and coal export companies. Coal firms are one of Indonesia's main sectors within the mining industry. Design/methodology/approach In this study, ARIMA and ARCH/GARCH methods were developed to predict the share price of coal companies in Indonesia. Using ARIMA and ARCH models, it can predict accurately and quite well based on MAPE values between 6 – 20%. In addition, the movement of projections between the benchmark price and the stock price is directly proportional. Findings The study highlighted the significant influence of geopolitical events, such as the Russia-Ukraine war, and post-pandemic economic conditions on the coal industry. These factors were found to affect the stock prices of coal companies, making the forecasting models particularly valuable for adjusting to market changes. The findings provide valuable insights for investors in the coal sector, indicating that advanced econometric models can be used to make informed investment decisions. By understanding the impact of external events and identifying the most accurate forecasting models, investors can potentially enhance their investment strategies in the volatile coal market. Research limitations/implications The research limitation/implication as described in the document is centered on the scope of the study and its implications. Specifically, the research is a case study focusing on the reference price of coal and coal export companies, particularly within Indonesia's mining sector. This narrow focus means the findings may not be directly applicable to other sectors or geographical regions without further study. Additionally, the reliance on ARIMA and ARCH/GARCH methods for predicting stock prices, while effective within the parameters of this study, suggests a limitation in the methodology that may not account for all variables influencing stock prices, such as unforeseen geopolitical events or sudden market shifts. The implication here is that while the study provides valuable insights into the coal sector and offers a methodological approach for forecasting, its applicability is limited by its specific focus and the inherent unpredictability of the stock market. Originality/value This study is essential due to the post-pandemic covid 19 and the Russia - Ukraine conflict, influencing this country’s high local coal demand. The phenomenon brings a new paradigm to investors for investing in coal companies. Investors need a media to hustle with stock price growth to seek profit.
Assessing the link amid import, export and FDI within South Africa Economy Adekunle, Ahmed
Journal of Indonesian Applied Economics Vol. 12 No. 2 (2024): August 2024 (IN PRESS)
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2024.012.02.8

Abstract

Purpose Literature is generally in agreement that FDI promotes growth by enhancing export and stimulating import. Resting on this background, this study assesses the link amid import, export and FDI within South Africa economy.   Design/Methodology/Approach The study employed the Johansen cointegration test, Vector Error Correction Model (VECM) and granger causality test over the annual data which span through 1986-2021.   Findings The findings of the study show that export positively affect foreign direct investment (FDI), serving as both a source of income for the economy and a catalyst for FDI inflows. Additionally, imports also influence FDI positively permitting imports into the economy is a major indicator of economic liberalization which encourage FDI inflows. It is evident that there is only one direction of causality between FDI inflows and export. Since export serves as one of the sources of foreign direct investment (FDI) inflows, the study suggests that financial regulators increase the range of hedge tools and encourage exporters to use hedging to help them manage exchange-rate uncertainty thereby attracting more FDI inflows.   Research limitations/Implications The study possesses limitations such as data limitations and plenty-paradox framework. In the future, effort should be more focused on quarterly and panel data analysis to elaborate on this empirical issue.   Originality/value This research advances our understanding of FDI inflows nexus with other economic variables within the South African economy
MUSTAHIK EMPOWERMENT PROGRAM AND ITS IMPACT ON MUSTAHIK WELFARE: THE ECONOMIC IMPACT OF ZAKAT-BASED MUSTAHIK PROGRAMS IN INDONESIA Laily, Alfauzia Noer Rochmatul; Noor, Iswan; Ekawaty, Marlina
Journal of Indonesian Applied Economics Vol. 13 No. 1 (2025): February - June 2025
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2025.013.01.3

Abstract

Purpose This study aims to evaluate the effectiveness of the Rumah Gemilang Indonesia (RGI) empowerment program in improving the material and spiritual welfare of mustahik, aligning with Islamic principles of holistic well-being. Design/methodology/approach A mixed methods approach was employed, integrating qualitative in-depth interviews with program managers and participants and a quantitative survey of 200 respondents. The CIBEST model was used to measure welfare dimensions, while data reliability was ensured through Pearson-Correlation and Cronbach's Alpha tests. Findings The study reveals a significant improvement in participants' welfare, with average incomes rising from IDR 615,821 to IDR 2,829,000, exceeding the poverty line. Spiritual well-being also improved, indicated by consistent worship practices and stronger religious values. CIBEST analysis showed an increase in mustahik in the prosperous quadrant and a reduction in absolute poverty. Key program strengths included holistic training, family support, and post-program assistance. Research limitations/implications The findings are limited to the specific context of the RGI program and may not fully generalize to other empowerment models. The study underscores the importance of integrating material and spiritual dimensions in zakat-based empowerment initiatives. Originality/value This research fills a gap in evaluating zakat-based empowerment programs through a holistic lens, combining material, spiritual, and social impacts. It contributes to the literature on Islamic economics by demonstrating the practical application of the CIBEST model in poverty alleviation and welfare enhancement.
PUSH FACTOR AND PULL FACTOR ANALYSIS ON ECONOMIC GROWTH THROUGH CAPITAL FLOWS IN INDONESIA Aprella, Revi; Endang NP, Maria Goretti Wi; Darmawan, Ari
Journal of Indonesian Applied Economics Vol. 13 No. 1 (2025): February - June 2025
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2025.013.01.1

Abstract

Purpose The purpose of this research is to find out how domestic conditions (pull) and external conditions, especially the economic conditions of the United States (push factor) towards capital flows, where the increasing in capital will affect economic growth in Indonesia. Design/methodology/approach The method used in this study is PLS (Partial Least Square) using WarpPLS. The study used 4 (four) variables: push factor, pull factor, capital flow and economic growth. This research is an explanatory research with a quantitative descriptive approach. The data source for this research comes from World Bank, Federal Reserve, IMF. Findings The results show a significant negative relationship between push factors and both capital flows and economic growth, as well as between pull factors and economic growth.. There is a negative statistically insignificant relationship between pull factors and capital flows, and between capital flows and economic growth. Capital flows are not able to mediate the push effect factors on economic growth and the pull effect factors on economic growth. Research limitations/implications This study has several limitations such as limited data and the research was only conducted in Indonesia which may limit generalizability to other countries or regions. Originality/value This study offers a comprehensive understanding of the influence of push and pull factors on economic growth via capital flows in Indonesia, which may support the formulation of macroeconomic policy.
THE CORRELATION BETWEEN INTEREST RATES, EXCHANGE RATES, AND CRUDE OIL PRICE VOLATILITY ON IMPORTING-EXPORTING MARKET RETURNS Benita, Rahma Tri
Journal of Indonesian Applied Economics Vol. 13 No. 1 (2025): February - June 2025
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2025.013.01.2

Abstract

Purpose The instability of the market impacts the countries that export and import oil due to the fluctuations in crude oil prices are important to analyze. The fluctuating crude oil prices, are influenced by the unpredictable relationship between supply and demand for the world's oil needs. The rise in oil prices results in an economic deceleration for oil-importing countries that rely heavily on global oil needs. Conversely, low global oil prices can hinder economic development and induce instability in oil-exporting countries. The objective of this research is to predict the close correlation between movements in crude oil prices and capital market returns utilizing various nation characteristics methodologies, particularly as oil importers and exporters. Design/methodology/approach The relationship between capital market returns and oil prices has been examined using the Generalized Autoregressive Conditional Heteroskedasticity (GARCH). Findings Indonesia has quite strong independence compared to other countries because Indonesia has a diversification strategy, is rich in natural resources, and has support for domestic oil needs. Research findings indicate that the volatility in global oil price changes affects different countries in diverse ways. Numerous factors influence capital market returns, extending beyond oil price volatility to encompass political stability, natural resource wealth, global economic conditions, and a nation's fiscal and monetary policies. Research limitations/implications Limitations of the sample used in the study may affect the results of the study and make it difficult to make accurate generalizations. Originality/value This gap analysis result is to look at the identification of findings on what economic factors are most important in influencing returns other than changes in oil prices. So that it can develop inclusive strategies in capital market development to achieve optimal returns.
ANALYSIS OF THE IMPACT OF FINTECH AND PRICE STABILITY IN ENHANCING ECONOMIC GROWTH: EVIDENCE IN JAVA Salma, Citra Naura Putri; Putri, Risqi Noor Hidayati
Journal of Indonesian Applied Economics Vol. 13 No. 1 (2025): February - June 2025
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2025.013.01.4

Abstract

Purpose The objective of this study is to analyze the impact of financial technology (fintech) and price stability on economic growth in Java Island. This research examines how fintech transactions, measured through electronic money volume, influence financial efficiency and economic inclusivity. Design/methodology/approach This study employs a quantitative approach using panel data regression analysis from 2019 to 2023. The dataset includes fintech transaction volume, technology adoption rates, and CPI from six provinces in Java. Findings This study examines the interplay between fintech transactions, technology adoption, and price stability in driving economic growth in Java. While fintech improves financial inclusion, its dominance in consumptive transactions negatively impacts economic growth, highlighting the need for a shift toward productive financial activities. Research limitations/implications This study focuses on six provinces in Java, limiting its applicability to regions with lower digital penetration. Additionally, it does not differentiate between productive and consumptive fintech transactions, making it difficult to assess fintech’s true economic impact. Originality/value This research fills the gap in understanding the dual impact of fintech on economic growth—highlighting the negative consequences of excessive consumptive transactions while demonstrating the positive role of ICT and price stability.
EFFICIENCY ANALYSIS OF SMALLHOLDER PALM OIL PLANTATIONS IN INDONESIA: IMPLICATIONS FOR SUSTAINABLE RESOURCE MANAGEMENT Anggara, Rizki Tri; Alfahma, Elsya Gumayanti
Journal of Indonesian Applied Economics Vol. 13 No. 1 (2025): February - June 2025
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2025.013.01.5

Abstract

Purpose This study examines the palm oil plantation in Indonesia, highlighting its economic significance alongside its concerning ties to deforestation and biodiversity loss, with a particular focus on assessing the industry's land use efficiency. Design/methodology/approach The analysis focuses on the smallholder industry in Indonesia's top ten palm oil-producing provinces, using 2021 data from the Ministry of Agriculture and employs Data Envelopment Analysis (DEA). Findings This study has identified varying levels of land use effectiveness in Indonesian smallholder palm oil producers across several provinces. The findings suggest opportunities for enhanced land management in Riau, West Kalimantan, Jambi, Central Kalimantan, and East Kalimantan Province. Research limitations/implications The findings have implications for addressing deforestation and optimizing efficiency in palm oil plantations. It suggests implementing focused policy interventions to maximize resource utilization instead of expanding plantation lands further. Originality/value This research focuses on land use inefficiencies as a key variable to address this gap.
FISCAL REALITIES UNVEILED: ASSESSING JAMMU AND KASHMIR’S ECONOMY POST-ARTICLE 370 ABROGATION Sharma, Sachin; Yadav, Sunil; Kumar, Vijay; Jakhar, Babloo
Journal of Indonesian Applied Economics Vol. 13 No. 1 (2025): February - June 2025
Publisher : Department of Economics, Faculty of Economics and Business, Universitas Brawijaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21776/ub.jiae.2025.013.01.6

Abstract

Purpose To assess the fiscal transformation of Jammu & Kashmir (J&K) after the abrogation of Article 370 and its reorganization in October 2019, with a focus on changes in resource mobilization and allocation. Design/methodology/approach A comparative analysis of secondary data (2015–16 to 2023–24) examining (a) central transfers as a share of GSDP, (b) own-tax revenue relative to GSDP, and (c) capital expenditure by the former state and through centrally sponsored schemes Findings Post‐2019, central transfers rose from 22% to 28% of GSDP, and own-tax revenue increased from 5% to 9%, indicating better fiscal capacity. Capital spending also rose significantly: state outlays grew from 5% to 11% and CSS spending from 2% to 7% of GSDP. Despite this, under-utilization of grants, particularly in health and education highlights governance and accountability gaps Research limitations/implications The use of secondary data limits understanding of sub-regional disparities and underlying inefficiencies. Future studies could include field surveys and interviews to explore institutional challenges. Originality/value This is one of the first empirical studies on J&K’s fiscal shifts post-reorganization, offering policy-relevant insights for improving transfer mechanisms and institutional capacity to support inclusive development.  

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