Examining the Relocation of the Capital City of Indonesia Through the State Perspective in Political Economy

Objective - Sociologically, the existence of Law No.21/2008 on Islamic Banking in the splendor of economic development and Islamic finance is an interesting thing to observe. This paper wants to discuss the sociological foundation of Islamic banking law legislation as the legal umbrella of economic and Islamic finance development in Indonesia. Methods – qualitative Research, includes the study of law. Conclusions – At least, there are several spectrums that can be understood from the emergence of this law. First , the establishment of Islamic Banking Act is essentially a response to the provisions of Islamic law that has become the popular belief in the majority of Indonesian people who crave the realization of banking institutions which are free from usury, which is the Islamic law since his arrival in the archipelago until now classified as living law in the community. This reality is associated with the construction established by von Savigny. Second , the formation of Law No. 21/2008 concerning Islamic Banking is a response to social economic demand both nationally and globally. The presence of Islamic banks have become a necessity in managing the economy and coping with the economic crisis based on the underlying transaction. Third , the Establishment of Law No. 21/2008 concerning Islamic Banking in legal political perspective, has a basic principle, an aim and a response to the dynamic development of Indonesian society, particularly in relation to the development of Islamic economy. Fourth , formation of Islamic Banking Act affects the Islamic economic development in Indonesia, particularly in relation to the development of Islamic banking in Indonesia. Keywords: Sociological Foundation, Islamic Banking Law, Economic Development.

The aim of this paper is to examine the role of Cash Waqf Linked Sukuk (CWLS) in economic development and trade in Indonesia. This research is motivated by the fact that there is still limited financing to economic development in Indonesia as well as trade financing. The research based on a qualitative methodology using the data from scientific journals and paper in the field of Cash Waqf, including CWLS. The results cash waqf in several countries has been used for beneficiaries. Especially for CWLS, it consists of 2 types, namely wakaf sukuk and retail waqf sukuk. For waqf sukuk, the proceeds of the waqf have been channelled to finance the construction of the retina center and glaucoma center at the hospital. Meanwhile, retail waqf sukuk are used by each nazir to finance the program. This research shows that CWLS is proven to play a role in economic development, particularly infrastructure. The infrastructure that has been built is in the health sector. CWLS can also be an alternative source of funds with low-cost of fund which in turn enables the Eximbank/ECA to extend trade financing to the cooperative with competitive price. However, there are some action need to be taken, i.e (i) conduct socialization regarding CWLS to improve public awareness and enlarge the wakif base and (ii) issue DSN regulations regarding CWLS.JEL Classification: F13, F63, P33How to Cite:Tanjung, H., & Windiarto, A. (2021). Role of Cash Waqf Linked Sukuk in Economic Development and International Trade. Signifikan: Jurnal Ilmu Ekonomi, 10(2), 275-290. https://doi.org/10.15408/sjie.v10i2.20493.

This article aims to describe the concept of empowerment as an instrument of people's economic development in Indonesia, by conducting a comparative study of the thoughts of Ibn Khaldun and Mohammad Hatta. The main formulation of this article highlights three focuses, namely the Thoughts of Ibn Khaldun and Mohammad Hatta, the concept of empowerment in Islamic economics and the combination of the concept of empowerment with economic development (Ibn Khaldun-Mohammad Hatta). The research method used is qualitative descriptive analysis through library research studies involving studies of classical and contemporary literature using the Publish or Perish application . The findings of this study, first: Ibn Khaldun provides a view of the concept of ashabiyah, while Hatta provides an understanding of the concept of empowerment through people's economics. Second, the concept of empowerment in Islamic economics is with the principles of Ukhuwah, Ta'awun, al-adlu . Third, the concept of empowerment offered by the two shops includes, Economic Equality, People's Participation, Social Welfare, Integrated Economy by creating references to economic democracy and economic cooperatives to encourage inclusive and sustainable economic development in Indonesia.

Indonesia's economic development from year to year has always been characterized by primary problems, namely poverty and unemployment, which are caused by unequal distribution of economic results to those in need and are dominated by capitalist economic principles. In overcoming these problems, Islamic socio-economic pillars are present that can support people's lives, namely the pillars of Islamic philanthropy. This research aims to explain the theory and practice of Islamic philanthropy in Indonesia as a form of contribution or solution in solving several economic problems or for the benefit of society. This type of research is a literature study by collecting data through several pieces of literature or documentation. The results of this research show that Islamic philanthropy is classified into two things, namely as social services and social change, which have the impact of being a more productive and efficient solution for economic development in Indonesia.

The purpose of the research is to analyze the effect of nutrition intake, education facilities, and unemployment on economic development in Indonesia. This research uses a multiple linear regression method using panel data consisting of time series data for 5 years and cross-section data consisting of 34 provinces. The results exhibited that nutrition intake and educational facilities have a significant positive effect on economic development, but unemployment has a significant negative effect on economic development in Indonesia. In addition, nutrition intake, education facility, and unemployment have a simultaneous influence on economic development in Indonesia during 2014–2018. Economic development can be implemented by increasing nutrition intake to improve health quality, reduce mortality, and increase life expectancy. Economic development must be followed by a decrease in unemployment to improve socioeconomic conditions in the form of income distribution and reduce poverty to improve decent living standards.

The rapid economic development in Indonesia in the last two decades has increased the dualistic structure of the manufacturing sector in that country, as shown in this study. On the one side, there are a relatively small number of medium and large enterprises which are modern units of production and, on the other side of the spectrum, a large number of small enterprises which are relatively traditional. The study shows that the performance in terms of number of units, employment, value added, productivity and earnings between these two size–groups of enterprises are different.

<em><span lang="EN-ID">Islamic economic thinking offers unique concepts that influence the way production is carried out, contributes to a fair economy, and is environmentally conscious. In the context of sustainable development, a deeper understanding of how Islamic economic principles can be applied to production processes and their impact on sustainable economic development in Indonesia is essential. The study uses a qualitative analytical approach by analyzing literature related to Islamic economic thinking and production concepts in Islamic macroeconomics. In addition, the research also involves studying production policies and practices based on Islamic economic principles as well as evaluating their impact on economic development and sustainability in Indonesia. The results of the analysis show that Islamic economic thinking emphasizes ethical principles in production, such as justice, social responsibility, and environmental sustainability. These concepts inspire a justice-based production approach and give attention to social and environmental aspects. These principles provide the basis for creating a fair production system, reducing social disparities, and promoting sustainable economic growth. The implications of this study are the importance of considering Islamic economic principles in managing production on a macroeconomic scale.</span></em>

This study aims to analyze the comparison optimization of the halal industry in the economic development of Indonesia and Malaysia. The research was conducted in 2 countries, by reviewing and analyzing the optimization the halal industry in the economic development of Indonesia and Malaysia. This research uses primary data and secondary data which are primary data; interviews with key informants and secondary data; use study documentation and literature study. The growth of the Malaysian and Indonesian halal industries is expected to continue. According to Islamic law, one of the main principles of Sharia is the maintenance of life in a manner sustainable to match economic development. Having these criteria can help provide guidance to halal certification bodies such as JAKIM and BPJPH in implementing halal product certification in Malaysia and Indonesia. In addition, pharmaceutical products for halal consideration must follow the laws and requirements imposed by the legal or competent authorities in Malaysia and Indonesia.

Having strategic position makes Indonesia rich in biodiversity. However, there is a gap in funding this biodiversity; whereas, the existence of this biodiversity can be optimized by the government to enhance the economic development in Indonesia. This study aims to analyze potential financial solutions to fill the gap and increase the biodiversity funding in Indonesia. This research did a literature study from various sources such as BIOFIN countries, UNDP, and IBSAP of Indonesia; and conducted an assessment based on the results, sources, financial impact categories, and likelihood of success categories. The results show that out of 156 financial solutions studied, 32 of them have high financial impacts and are most likely successful to be implemented in Indonesia, and 8 of them are very potential to be implemented; those are state budget, corporate social responsibility (CSR), nature swap debts, taxes and fees in the tourism sector, payment for ecosystem services, ecological fiscal transfers (EFT), zakat, infaq, shadaqah, and waqf (ZISWAF), and green sukuk.

Environmental issues have become global issues that must be addressed by all levels of society in a responsive and focused manner. Since the 1970s, the world community began to pay great attention to the problems of nature and the environment. The discourse on environmentally sound economic development is of particular concern in order to maintain the sustainability of life throughout the world, including the regions in Indonesia. To achieve environmentally sound development is not enough to only enhance economic development and forget about the sustainability of the ecosystem and social environment of the community, both must be mutually integrated until finally a strong national economic development is achieved in order to save the nation's future. This study aims to find out how the implementation of regional economic development in Indonesia has applied the principles of environmental economic development that is environmentally sound as an effort to build and save the future of the nation or just become a slogan on its journey. The type of research used in this study is descriptive using literature studies. The result is known that Indonesia has not been able to carry out the improvement of regional economic development with an environmental perspective. The development carried out in Indonesia since the 1970s still tends to focus on economic development, even on economic growth which tends to be shortterm orientation so that the problem of sustainability development has not become a top priority. For this reason, in the context of aspirational environmentally sound development, the implementation of development must rely on the principle of benefits and sustainability, community, justice, togetherness, openness, and integration.

The problem of poverty in Indonesia is very complex which can trigger economic and socio-cultural problems, namely that there is a poor population of 9.36 percent. This indicates that prosperity has not been achieved in economic development in Indonesia. Ibnu Khaldun explained that a developed country is determined by the strength of the government implementing sharia and justice which is implicitly in accordance with the ideals of national development in Indonesia. The aim of this research is to analyze the actualization of Indonesia's economic development in terms of Ibnu Khaldun's thoughts. The research method used is qualitative library research sourced from secondary data using library research techniques from Muqaddimah books, journal articles and various kinds of relevant library materials which are then analyzed using descriptive analysis methods. The results of this research are that Indonesia's economic development has not yet achieved economic and socio-cultural balance as stated by Ibnu Khaldun. This is based on an imbalance between state revenues and government expenditure. The high taxes imposed on the public cannot yet be directly proportional to state spending which should be able to reduce inequality, poverty and so on, especially in underdeveloped areas.

<p>The most intriguing question about Indonesia's economic development during the twentieth century is why the country's growth performance has been so erratic and displayed such a high degree of discontinuity. This is connected with the fundamental question about the nature of long-run economic development in Indonesia.</p><p>So far the economic historiography of Indonesia has been less systematic than what the available source material would permit. Indonesia is exceptionally well endowed with rich statistical sources, which carry the potential of supporting a rigorous and systematic quantitative approach to vital questions concerning the economic growth performance in the long run.</p><p>This book takes such an approach and presents new estimates for the long-run growth of the Indonesian service sector, and analyses the role of the various service sectors in economic development. Linking empirical and theoretical analysis in a creative fashion, Daan Marks provides a rich and original contribution to our understanding of the economic history of Indonesia. He shows that the service sector has played a crucial role in Indonesia's economic development. Or in other words, to fully understand Indonesia's economic development path services need to be accounted for.</p>

The purpose of writing an article is to find out how to handle the spread of the Covid-19 virus in Indonesia following national politics and strategy, what policies and priorities have been taken by the government and the impact of covid-19 on economic development in Indonesia. This research method is qualitative research that is a literature study (library research) that uses books and other literature as the main object. The literature study in this study is a literature study without empirical tests. The data presented is data in the form of words that require processing to be concise and systematic. The government has issued policies such as PSBB, lockdown, and established online learning and also prioritizes all public services especially health and food. The policy can also improve all impacts that hamper economic growth, especially currency values. With covid-19 it is expected that the community will always pay attention to cleanliness in all matters, especially washing hands. © 2021. RIGEO. All Rights Reserved.

Over the last few decades, the development of information and communication technology (ICT) has had a major impact on the economy and society more broadly. There is currently a consensus that developments in information and communication technology (ICT) can provide a boost to sustainable economic development. This study aims to analyze the influence of the development of information and communication technology (ICT) on income inequality through economic development in Indonesia. Analysis of the research uses econometric analysis using the fixed effect model with the Two-Stage-Least-Square (TSLS) method with a period of 2017–2021 to understand the extent to which the development of information and communication technology (ICT) can facilitate reducing income inequality through economic development. The data used in this study came from the Central Statistics Agency (BPS), the Ministry of Finance of the Republic of Indonesia, the Ministry of Communication and Information, and the National Socioeconomic Survey (SUSENAS). The results of this study found that the influence of significant positive ICT development can encourage reduced income inequality through economic development in Indonesia. Social assistance provided by the government has shown significant help in reducing inequality in Indonesia. ICT development can encourage reducing inequality and economic development outside Java Island but not in Java Island. The influence of ICT development is greater in provinces with the lowest service sector compared to provinces with the highest service sector.

The aim of this research is to analyze the influence of Local Revenue and Fiscal Balance Transfers on the Direct and Indirect Expenditures as well as on the Economic Development in Indonesia. The variables in this research were Local Revenue and Fiscal Balance Transfers as independent variables whereas Direct, Indirect Expenditures and Economic Developments were the dependent variables. The sample included 33 provinces in Indonesia over the period of 2009 to 2013. The research findings indicated that the Local Revenue and Fiscal Balance Transfers had a positive and significant influence on the Direct and Indirect Expenditures. In addition, Local Revenue and Fiscal Balance Transfers had a negative influence on the economic development through Direct Expenditure and had a positive, significant influence on the economic development through the Indirect Expenditure.Keywords : Local Revenue,Fiscal Balance Transfers on the Direct, Indirect Expenditures and on the Economic Development in Indonesia