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INDONESIA
Jurnal Ekonomi & Studi Pembangunan
Published by Universitas Muhammadiyah Yogyakarta
ISSN : 14119900     EISSN : 25415506     DOI : https://doi.org/10.18196/jesp
Core Subject : Economy,
Economics, Econometrics & Finance
Jurnal Ekonomi & Studi Pembangunan (JESP) focuses on research papers relating to development economics and multidisciplinary concern to systemic problems in developing countries particularly using quantitative or theoretical work in which novelty is essential. JESP does not publish manuscripts in critical review and book review. Nevertheless, we accept in-depth studies of specific cases, events, or regions that are likely to bring more benefits on developing economics.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 338 Documents
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Integrating financial inclusion and digital technology to foster inclusive economic development in Indonesia Anindyntha, Firdha Aksari; Rusdianasari, Fitri
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.28256

Abstract

Equitable economic development is reflected in sustainable economic growth and equitable income distribution. The financial sector plays an important role in supporting inclusive development, which prioritizes financial inclusion among its main policy objectives. Despite the banking sector's digital transformation in Indonesia, regional disparities in financial access and digital penetration persist, particularly in remote areas, thereby hindering the achievement of inclusive development. This study aims to analyze the role of financial inclusion and digital innovation in promoting equitable economic development, as reflected in economic growth and income inequality. This study employs a Fixed Effects Model (FEM) for panel data regression across 33 provinces in Indonesia during 2018-2023 periods. The FEM is used to control for unobserved regional heterogeneity and to ensure more consistent and unbiased estimation. Our research results show that economic growth is positively affected by financial inclusion, particularly through the availability of bank branches and lending. In addition, the adoption of digital technology also significantly contributes to driving economic growth. Furthermore, our findings reveal that the synergy between digital innovation and financial services effectively narrows the income gap across provinces. This study makes a significant scientific contribution by demonstrating that digital innovation serves not only as a technological tool but also as a key factor in enhancing the effectiveness of financial inclusion in driving economic growth and reducing income inequality. These findings provide empirical policy guidance for the development of a digital financial ecosystem to promote more inclusive and equitable economic development in Indonesia.
The synergy of political stability, trade liberalization, and macroeconomic factors in attracting FDI to Pakistan Haidari, Adila; Junejo, Safiullah; Wicaksono, Teguh Yudo
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.28365

Abstract

The determinants of foreign direct investment (FDI) in Pakistan remain a subject of ongoing debate, particularly regarding the relative influence of political stability compared to economic factors. This study investigates the interplay between political stability, trade liberalization, and macroeconomic factors in shaping FDI inflows in Pakistan from 1990 to 2023. Employing a quantitative approach using multiple linear regression on time-series data, this study evaluates the impact of political stability, trade liberalization, exports, imports, and inflation on FDI. The empirical findings indicate that political stability does not exert a statistically significant influence on foreign direct investment (FDI) in Pakistan, whereas export growth, trade liberalization, and price stability emerge as key determinants. A 1% increase in exports is associated with a 0.78% increase in FDI, underscoring the importance of economic fundamentals relative to political considerations. These results suggest that economic fundamentals may play a more decisive role in shaping FDI dynamics in the context of Pakistan. From a policy perspective, the findings underscore the importance of strengthening trade openness, promoting export diversification, and maintaining macroeconomic stability to improve the country’s investment environment. By examining the combined effects of several relatively underexplored determinants of FDI in Pakistan, this study contributes to the literature by providing additional empirical evidence on the drivers of foreign investment in developing economies facing similar structural and macroeconomic challenges.
The impact of R&D tax incentives on corporate innovation in developing ASEAN countries Hayati, Sri Rezki; Nuryakin, Chaikal
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.29177

Abstract

Innovation is widely recognized as a key source of growth and competitiveness, particularly in developing countries, making policies such as R&D tax incentives increasingly important. This study analyzes the impact of implementing R&D tax incentives on firms' propensity to innovate in five selected developing ASEAN countries (Indonesia, Malaysia, Vietnam, Cambodia and the Philippines), and how variations in designs and mechanisms affect this relationship. The study uses firm-level data from the two most recent rounds of the World Bank Enterprise Survey (WBES), and applies a panel logit fixed-effects model to a dataset of 483 firms to facilitate comparative analysis over time. This study therefore fills a significant gap in the literature by offering cross-country, firm-level evidence on how changes to R&D tax incentive design can affect innovation outcomes across firms located within developing ASEAN economies. Findings suggest that firms in countries with R&D tax incentives are 4.38 times more likely to innovate than those in countries without such policies. Nonetheless, the success of such incentives is conditional on macro and microeconomic circumstances as well as the mechanism of the incentives. Specifically, the analysis differentiated input-based incentives linked to firms' R&D expenditures from output-based incentives that are based on achieving specific innovation outputs (patents or new products) by firms. The results suggest that output-based mechanisms lead to less innovation than expenditure based schemes. The overall results reinforce that it is not just the adoption but also the design of R&D tax incentive policies that matters, suggesting that policymakers in developing countries should invest in flexible, input-based approaches rather than rigid approaches tied to specific innovation outputs.
The role of triple helix synergy, access to capital, and financial literacy on sustainable MSMEs economic growth Arif, Muh; Amir, Amir; Sharon, St Salmah; Basir, Mustika Kusuma
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.29551

Abstract

In the context of increasing economic uncertainty, digital disruption, and the global transition toward a green economy, understanding the key drivers of sustainable Micro, Small, and Medium Enterprise (MSME) growth remains a critical research agenda, particularly in developing economies where MSMEs serve as the backbone of economic resilience. This study aims to analyse the influence of triple helix synergy, access to capital, and financial literacy on sustainable MSME economic growth. The research employs a quantitative approach using Partial Least Square (PLS) analysis on MSME actors. The results indicate that the measurement model meets the required validity and reliability criteria. Furthermore, the structural model reveals that triple helix synergy and financial literacy have a significant positive effect on sustainable MSME economic growth, while access to capital does not show a significant influence. These findings highlight that sustainable MSME growth is not merely determined by the availability of financial resources but is more strongly driven by effective cross-sector collaboration and the capacity of MSME actors to manage financial resources in an accountable and strategic manner. The study confirms that collaboration among government, academia, and businesses, alongside enhanced financial literacy, plays a crucial role in fostering sustainable economic growth of MSMEs. Accordingly, this research underscores the importance of integrating institutional synergy and financial capability development as strategic policy instruments to strengthen MSME competitiveness in the green and digital economy era.
Quality of public services as a mediator of competence and infrastructure for community satisfaction Santoso, Budi; Martini, Ni Nyoman Putu
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.30002

Abstract

This study analyzes the influence of the competence of government apparatus and infrastructure facilities on community satisfaction, with the quality of public services as a mediating variable in the Jember Regency Regional Secretariat. The research was conducted with a quantitative survey approach, involving 95 respondents who had directly interacted with public services, with data collected through online questionnaires and secondary documentation. The data were analyzed using WarpPLS Partial Least Squares (PLS-SEM), which enables testing of both direct and indirect relationships among variables as well as the validity and reliability of the measurement model. Research shows that the competence of the apparatus and the availability of infrastructure have a significant effect, both directly and through improving the quality of public services on public satisfaction. The quality of public services has proven to be an important mediating factor that strengthens the contribution of competencies and infrastructure facilities to increase public satisfaction. The findings show that apparatus competence and infrastructure availability have a significant effect on public satisfaction, both directly and indirectly through the quality of public services. Improving these three aspects should be treated as a strategic priority for the institution to strengthen organizational performance and optimize community satisfaction within the Jember Regency Regional Secretariat.
Decentralization, spending quality, and regional development performance: Evidence from West Nusa Tenggara, Indonesia Hidayat, Rahmad; Khusaini, Mohamad; Kaluge, David; Bintoro, Nugroho Suryo
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.30152

Abstract

This study examines the relationship between fiscal decentralization, public spending quality, and regional development performance in West Nusa Tenggara Province, Indonesia, from 2013 to 2022. This study primarily employs fixed-effects panel regression, supplemented by Structural Equation Modeling (SEM) for mediation analysis, to examine whether fiscal decentralization enhances spending quality and, in turn, improves development outcomes. The results reveal that fiscal decentralization exerts a negative and significant impact on regional development performance, while spending quality shows no significant effect. Moreover, spending quality fails to mediate the relationship between decentralization and development outcomes. Diagnostic and robustness tests support the consistency of the estimated results. The findings suggest that fiscal decentralization may contribute to governance inefficiencies and weakened accountability at the local level, rather than improving development outcomes. Therefore, strengthening institutional capacity, accountability mechanisms, and performance-based budgeting is essential for improving local governance performance.
Modeling regional fiscal autonomy using multiview graph convolutional networks: Evidence from Mamuju Regency, Indonesia Supriadi, Supriadi; Pandjajangi, Andi Muhammad Ridho Yusuf Sainon Andi; Setiawan, Lukman; Baharuddin, Sitti Mujahida; Azizurrohman, Muhammad
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.30552

Abstract

This study examines the level and dynamics of regional fiscal autonomy in Mamuju Regency, Indonesia, from 2013 to 2023 by integrating conventional public finance indicators with a graph-based machine learning approach. The primary objective is to measure fiscal independence and to evaluate the effectiveness of a Similarity-Based Multi-View Graph Convolutional Network (SMGCN) in modeling complex relationships among local revenue, intergovernmental transfers, and total regional income. Fiscal autonomy is operationalized using a fiscal independence index derived from the ratio of Locally Generated Revenue to total regional revenue, while additional variables capture transfer dependence and structural fiscal composition. The empirical analysis employs annual regional budget realization data, which are transformed into multiple graph views reflecting different fiscal dimensions. These graphs are then processed using SMGCN to classify and predict fiscal autonomy categories. The results indicate that Mamuju Regency exhibits persistently low fiscal autonomy, characterized by a high dependence on central government transfers and a limited contribution of Locally Generated Revenue. From a methodological perspective, the proposed model demonstrates superior predictive performance compared with conventional statistical and machine learning benchmarks, suggesting that graph-based representation learning is suitable for capturing interdependencies among fiscal variables. The findings contribute to the literature on fiscal decentralization by providing both empirical evidence of structural fiscal dependence at the local level and a novel analytical framework for assessing regional fiscal performance. Policy implications emphasize the need for strengthening local revenue bases and diversifying regional economic activities to enhance long term fiscal sustainability.
Influence of entrepreneurial orientation, government role, and social capital on fishermen’s welfare: ICT implementation as a moderator of entrepreneurial orientation Suwena, Kadek Rai; Irwansyah, M Rudi; Meitriana, Made Ary; Dharmayasa, I Putu Arya; Suwendra, I Wayan; Yupita, Linda
Jurnal Ekonomi & Studi Pembangunan Vol. 27 No. 1: April 2026
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v27i1.30927

Abstract

Indonesia’s marine, aquaculture, and fisheries resources are abundant, but coastal communities who depend on the marine sector for their livelihoods live in poverty. Gerokgak District covers the largest area in Buleleng Regency and has the longest coastline in Bali Province, stretching 76.89 km. The fishing population in Gerokgak District, the largest in Buleleng Regency, numbers 1,327 people. The minimum sample size was determined using G*Power. With an effect size (f²) of 0.15, a significance level (α) of 0.05, a statistical power of 0.95, and three predictors (including the interaction term), the required minimum sample size was 119 respondents. The income of fishermen’s families ranges from IDR 1,200,000 to IDR 2,000,000 per month. This figure shows that the income of the majority of fishermen’s families is still below the 2025 Buleleng Regency Minimum Wage (UMK) which is set at IDR 2,996,561. The low income of fishermen directly impacts their inability to meet basic needs, thus resulting in low household welfare. Factors suspected of contributing to household welfare levels include entrepreneurial orientation, government role, social capital, and the implementation of information and communication technology. This study employed a sequential explanatory mixed methods design. The initial quantitative phase involved data analysis using SEM-PLS, followed by a qualitative phase using NVivo to further explain and provide deeper context for the quantitative findings. These findings confirm that fishermen’s welfare is determined by internal and social factors, namely entrepreneurial orientation (β = 0.269, p = 0.000) and social capital (β = 0.537, p = 0.000). The government role (β = 0.017, p = 0.853) did not yield a significant direct impact, and Information and Communication Technology (ICT) (β = 0.064, p = 0.515) did not serve as an effective moderator. The structural model explains 36.3 percent of the variance in welfare (R2 = 0.363), indicating a moderate level of explanatory power. Therefore, future efforts to improve fishermen’s welfare should focus on strengthening entrepreneurial capacity and social capital, alongside improvements in ICT utilization quality and more contextual, participatory, and sustainable government policy approaches.

Page 34 of 34 | Total Record : 338

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