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Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan
Published by Universitas Muhammadiyah Surakarta
ISSN : 14116081     EISSN : 24609331     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan is a scientific journal that contains the results of theoretical research and studies on economic and development issues. Managed by Department of Development Economics, Faculty of Economics and Business Universitas Muhammadiyah Surakarta. Published by Muhammadiyah University Press.
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Articles 20 Documents
 1   2 
Search results for , issue "Vol 24, No 2 (2023): JEP 2023" : 20 Documents clear
Monetary Policy Credibility and Economic Growth: A Comparative Analysis of COMESA and ECOWAS Countries Jean Baptiste Aboyitungiye; Moses Mathu
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.23113

Abstract

The study aims to highlight the effect of the credibility of monetary policy on economic growth concerning the COMESA compared with the ECOWAS economies. Those groups of countries are reached throughout the monetary policy credibility measurement to get an insight into whether the monetary policy is at the origin of the economic growth level of the country. The dynamic panel data consists of 5 years, from 2015 to 2020, for 11 countries of COMESA and ECOWAS. The findings from the two-system-GMM approach show a significant positive effect of the monetary policy credibility on economic growth in the COMESA region. On the other hand, the monetary policy credibility has an insignificant impact on the economic growth in the ECOWAS region. The findings lead us to recommend to the policymakers of central banks to ensure that they choose the appropriate monetary policy to return to growth, full employment and price stability.
Determinants of Green GDP in ASEAN-5 Countries Nur Hidayah; Dinar Wahyuningrum; Ibrahim Sorie Kamara; Jihan Lutfiyah Rahmah
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.22488

Abstract

The over-exploitation of natural resources to increase economic growth causes environmental degradation, and climate change has been a serious research issue. Gross Domestic Green Product (green GDP) is a proxy of Green economic growth. It is an indicator of sustainable economic development that considers aspects of environmental degradation. This study aims to determine the effect of carbon dioxide emissions, foreign direct investment, current account balance, and population on green GDP in five ASEAN countries: Indonesia, Malaysia, Thailand, the Philippines, and Myanmar. This study utilized panel data, a combination between time series and cross-section data. The panel data was examined by using the eViews 11 application. The selected model was the Fixed Effect Model (FEM). This study found that two independent variables: carbon dioxide emissions and the population had a significant positive effect on green GDP. Meanwhile, Foreign Direct Investment and current accounts do not significantly affect green GDP. Thus, the government as a regulator has a role in managing policies related to carbon emissions and population in supporting green economic growth.
Testing The Environmental Kuznets Curve (EKC) Hypothesis in Indonesia and India: Autoregressive Distributed Lag (ARDL) Model Approach Indanazulfa Qurrota A'yun; Muhammad Safar Nasir; Zarul Azhar bin Nasir; Fatima Muhammad Abdulkarim; Murtaza Hussain
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.23191

Abstract

The achievement of economic growth is equally important as environmental sustainability. Economic growth is considered capable of enhancing the overall welfare of society. However, there is a sacrifice stemming from economic growth in the form of negative external impacts. Therefore, the objective of this study is to examine the Environmental Kuznets Curve (EKC) hypothesis in Indonesia and India. The EKC hypothesis connects economic growth with CO2 emissions. The Autoregressive Distributed Lag (ARDL) model is employed to assess both the long-term and short-term impacts of economic growth on CO2 emissions in Indonesia and India. Additionally, the study seeks to comprehend the applicability of the Environmental Kuznets Curve (EKC) hypothesis in these countries over the period of 1965-2021. The research findings indicate that economic growth has a significant impact on CO2 emissions in the short term, but this influence is not sustained in the long term in Indonesia. In contrast, in India, economic growth does not exhibit a significant effect on CO2 emissions in the short term, but it does have a notable impact in the long term. This implies that Indonesia does not align with the Environmental Kuznets Curve (EKC) hypothesis in the long term, while India is anticipated to adhere to the EKC hypothesis in the future.
An Analysis of the Effects of Spatial Dependence on Economic Growth Among Regencies and Cities in Java Ma'rufa Khotiawan; Rachmad Kresna Sakti; Setyo Tri Wahyudi
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.22109

Abstract

Java is inarguably essential for Indonesia’s economy with its 59% contribution to the country’s GDP. However, behind the tremendous participation lies high regional disparity, poverty, and unemployment, which have become challenges to its economic development. This research aims to analyze the role of spatial dependence on regional economic growth in 119 regencies and cities in Java during the 2015- 2019 period. Exploratory Spatial Data Analysis (ESDA) and Spatial Durbin Model (SDM) were used to analyze the determinants of the spatial dependence and its impact on regional economic growth. The travel time among regions was utilized for the spatial weight matrix. The existence of spatial dependence in inter-regional economic growth can be identified from all models. The positive value of Moran’s I in the ESDA analysis indicates that the spatial pattern of the growth is clustering. The lambda parameter in the SDM estimation indicates the occurrence of backwash spillover in the effect of the spatial dependence on economic growth. The direct effects of initial per capita income, physical capital investment, road infrastructure, population growth, and education are significant on economic growth. Furthermore, the spillover effect of initial per capita income and education is also significant on the inter-regional economic growth.
Nexus Between Economic Growth, Renewable Energy, Industry Value Added and CO2 Emissions in ASEAN Indah Susilowati; M. Silahul Mu'min; Hanny Qudsyina; Hesti Asri Wahyuni; Suci Rismawati; Hapsari Ayu Kusumawardhani; Md. Ruyel Miah
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.23165

Abstract

This study aims to identify the relationship between economic growth, renewable energy, and industrial value added to CO2 emissions in ASEAN. The data used is panel data of 10 ASEAN countries from 2001-2020. This study uses the vector error correction model (VECM) for analysis. The estimation results show that CO2 emissions are only influenced by the CO2 variable itself in the previous period in the short term. In addition, economic growth and renewable energy significantly negatively affect CO2 emissions in the long term. Economic growth has the largest contribution to reducing CO2 emissions. The empirical findings also support the existence of the environmental Kuznets curve (EKC) in ASEAN. However, industrial value added has no significant effect on CO2 emissions. This study has several policy implications. The government needs to 1) strengthen energy transition regulations to encourage the use of renewable energy, 2) increase investment in RD to stimulate green technology innovation, and 3) protect the environment to mitigate negative externalities of economic activity.
Diagnosing Poverty Eradication Through Literacy: Analysis from Indonesia National Socioeconomic Survey Cyril Anfasha Firmansyah; Moch Fauzi Alfandri Suherman; Putri Nabila Akmal; Archie Flora Anisa; Estro Dariatno Sihaloho
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.20239

Abstract

Literacy can be interpreted as a tool for the development of global society. However, the low literacy rate in Indonesia obstructs the quality of human resource improvement in education. Based on data from the PISA (2019), Indonesia is ranked 62nd in the literacy level from 70 countries. Quality of education is one of the economical ways to reduce the illiteracy that is interrelated to poverty. A question arises as to whether literacy-based cognitive abilities can reduce poverty . Previous studies on education for poverty eradication were limited to the regular cognitive domain. This study attempts to fill that gap. A Probit regression model was used with the probability of becoming poor as the dependent variable. A set of literacy-based cognitive abilities, such as age, gender, education level, and geographical factor are used as explanatory variables. According to 2019 National Socioeconomic Survey data, the analysis indicated that literacy-based cognitive abilities have a significant negative impact on poverty. Literacy has often been limited to the ability to read, write, and perform basic arithmetic. In order people to function effectively in their communities, the government should put focus on education attainment that cultivates functional literacy. It refers to the practical skills needed to read, write, and perform math for real-life purposes.
Tourism Villages for Micro and Small Enterprises Labor Absorption Rr Retno Sugiharti; Jihad Lukis Panjawa; Queen Pamela; Muhammad Arif Kurniawan; Danur Condro Guritno
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.18419

Abstract

Micro, Small, and Medium Enterprises (MSMEs) are the most important pillars of Indonesia’s economy. It has considerable contribution in providing employment in the informal sector. However, the high absorption of labor accompanied by the increased number in MSMEs in Indonesia cannot be separated from the existing challenges. This study aims to analyze the determinants of employment in the Micro and Small Enterprises sector (MSEs). MSEs actors in the tourism village area, Patuk sub-district, Gunungkidul, Yogyakarta. This research is focused on the role of the type of business and the status of the tourism village. The analytical tool used is the robust ordinary Least Square (OLS) method. The results showed that turnover and length of business had a real impact on increasing the absorption of MSEs workers according to the type of business and the status of the tourism village. Other findings show that Micro and Small handicraft businesses showed the highest employment absorption in tourism village with developed status, followed by businesses in the service, processed food, and trade sectors. The same results are also shown in the status of developing tourist villages. The potential of tourist villages with the advantages of the business sector has a real impact on increasing employment. Therefore, policymakers need to formulate strategies for the development of tourist villages to improve the welfare of local communities.
The Role of Human Capital and Regional Effects on Earnings: Multilevel Mixed Effect Regression Approach Aisya Amalia Rachmadani; Tri Mulyaningsih; Basem Ertimi
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.23123

Abstract

Indonesia has an abundant labor supply, so examining the determinants of earnings that reflect labor productivity is essential. This study is keen to estimate the effect of human capital, demographic factors, and regional (Regency/City) effects on workers' earnings in the Province of Central Java in 2022. The data is collected from the National Labor Force Survey (Sakernas). The multilevel mixed-effect regression is employed to assess the effect of individual characteristics and district-level variation on earnings. The study found that human capital, demographic factors, and regional (Regency/City) effects significantly affect earnings. Education and training are essential to improve workers’ skills, leading to higher performance. Further, regional characteristics have contributed to explaining earnings variation across workers in Central Java.
Performance of Small and Medium Enterprises in Indonesia Impacted by Financial Accessibility Nanang Rusliana; Armida Salsiah Alisjahbana; Budiono Budiono; Raden Muhamad Purnagunawan
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.21703

Abstract

The goals of this study are to examine and analyze the financial accessibility of SMEs in Indonesia, to examine the impact of financial constraints on SMEs’ performance there, and to determine how SMEs’ performance in Indonesia is impacted by their involvement in the financial market. This analysis makes use of panel data from the 2009 and 2015 waves of the World Bank Enterprise Survey (ESWB). Quantitative analysis with panel data regression models utilizing the Fixed Effect Model (FEM) or Random Effect Model (REM) and Hausman test constitute the analytical framework for this study. Stata Software is used for all computations and estimation related to the model and its tests. The results show that financial accessibility has a greater influence on sales growth compared to labor growth in medium-sized businesses, while in small businesses financial accessibility has a smaller effect on sales growth compared to labor growth. The number of small companies that are not financially constrained is more than the number of companies participating in the financial market. And participation in the financial market has an influence on business performance, both in terms of sales growth and workforce growth.
Measuring Economic Resilience of Tourism Villages: A Spatiotemporal Analysis of Pre and Post-Covid-19 Pandemic Nafiah Ariyani; Akhmad Fauzi; Ade Suherlan
Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Vol 24, No 2 (2023): JEP 2023
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jep.v24i2.23036

Abstract

Tourist village plays an important role in rural development in Indonesia. Nevertheless, tourist village is also prone to external shocks such as national and global economic volatilities and recent public health events of the Covid-19 pandemic. This study attempts to analyze a temporal variations of tourist village economic resilience from pandemic shock in 24 tourist village destinations covering the period of 2019-2022 in Indonesia. A synthetic composite index of the Adjusted Mazziotta-Pareto Index (AMPI) was used to measure resilience, followed by clustering analysis to determine the typology of the resilience. The resilience index was composed of capacity and performance dimension related to resilience. The results show that most villages were severely affected in the first year of Covid-19, yet they recovered afterward, as indicated by positive differences in the AMPI index before and after Covid-19. This result shows that tourist villages in Indonesia have a tendency of strong capacity and performance to recover from the pandemic shock. The economic components of the capacity and performance were able to readjust after the pandemic indicating that these components are relatively adaptable to the shocks. The indicator that has the most significant influence on the typology of resilience in the performance dimension is the number of visitors. Meanwhile, the Development Village Index (DVI) indicator is the most significant influence on the capacity dimension.

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