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INDONESIA
JURNAL EKONOMI DAN BISNIS AIRLANGGA
Published by Universitas Airlangga
ISSN : 23382686     EISSN : 25974564     DOI : -
Core Subject : Economy,
JURNAL EKONOMI DAN BISNIS AIRLANGGA (J E B A) | JOURNAL OF ECONOMICS AND BUSINESS AIRLANGGA (Formerly Majalah Ekonomi) (p-ISSN: 2338-2686; e-ISSN: 2597-4564) is a scientific peer-reviewed journal published by Faculty of Economics and Business, Universitas Airlangga, Indonesia. Since established in 1981, JEBA is intended provide a medium for dissemination of original and quality research on various topic in economics and business. The journal calls for articles reporting the research result on accounting, economics, islamic economics and management, and other related fields to be published three times a year (April, August and December). JEBA welcomes for collaboration with profession assocations, research centers and scientific forum such as seminar and confrences.
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Articles 163 Documents
GLOBAL INFLUENCES AND DOMESTIC DRIVERS: A HOLISTIC APPROACH TO RUPIAH EXCHANGE RATE DETERMINATION Michelle Gravielle Benedicta Roring; Cevi Herdian
Jurnal Ekonomi dan Bisnis Airlangga Vol. 36 No. 1 (2026): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V36I12026.183-198

Abstract

Introduction: Fluctuations in the USD/IDR exchange rate significantly impact Indonesia’s macroeconomic stability. This study examines the short-term causal links between key macroeconomic variables and the USD/IDR exchange rate to identify the fundamental drivers of currency volatility. Methods: Using a quantitative approach, this research analyzes monthly time-series data from January 2014 to December 2024. Variables include interest rates, inflation, money supply, exports, imports, and global stock indices. The analytical framework employs stationarity testing, optimal lag selection, and Granger causality analysis within a Vector Autoregressive (VAR) model. Results: The findings reveal that imports are the only variable exerting a statistically significant short-run causal influence on the exchange rate. Increased imports elevate foreign currency demand, leading to Rupiah depreciation. Other factors, such as interest rates, inflation, money supply, exports, and global stocks, show no substantial predictive causation, suggesting their impacts are primarily reactive or structural. Conclusion and suggestion: USD/IDR movements are predominantly driven by real-sector trade pressures, specifically import reliance. To strengthen the Rupiah, policies should prioritize managing import growth and boosting domestic productive capacity, with monetary strategies serving a supplementary role in maintaining stability.
DO ISLAMIC GREEN FINANCE AND REGULATORY GOVERNANCE DRIVE ENVIRONMENTAL SUSTAINABILITY? PERSPECTIVES FROM MUSLIM-MAJORITY COUNTRIES Basri Basri; Endra Kasni Laila Yuda; Syahrul Gunawan; Akmal Asman
Jurnal Ekonomi dan Bisnis Airlangga Vol. 36 No. 1 (2026): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V36I12026.16-47

Abstract

Introduction: This study aims to analyze the dynamic impact of GDP per capita, Regulatory Quality, Islamic Green Finance (IGF), and Oil Revenue on sustainable economic performance in Islamic countries.  Methods: Using panel data from 24 OIC member countries over 2012–2023, this study applies the Panel Autoregressive Distributed Lag (ARDL) model to distinguish short-run adjustments and long-run equilibrium relationships.  Results: Regulatory Quality is a significant positive determinant in the long run under the Dynamic Fixed Effects (DFE) estimator. The Error Correction Term (ECT) is negative and significant, indicating stable adjustment toward long-run equilibrium. Short-run country-specific analysis shows heterogeneous effects: Regulatory Quality positively influences Iran and Iraq, while IGF demonstrates varying impacts in Bahrain and Malaysia.  Conclusion and suggestion: Strengthening institutional governance and implementing context-specific green finance policies are essential to enhance sustainable economic resilience in OIC countries. Policymakers should balance resource dependence with financial and regulatory innovation.
Front Matter Volume 36, No. 1, December-May 2026 Sulistya Rusgianto
Jurnal Ekonomi dan Bisnis Airlangga Vol. 36 No. 1 (2026): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract