Research Originality: This research examines fiscal sustainability by considering the fiscal behavior of different government regimes and analyzing the correlation between fiscal sustainability and a country's risk profile using the VARX method, with the real effective exchange rate (REER) as an exogenous variable.Research Objectives: This study aims first to determine whether Indonesia's fiscal conditions are sustainable across different government regimes. It then investigates whether a significant link exists between Indonesia's fiscal sustainability and its country's risk profile, as reflected by sovereign spreads from 2005 to 2024.Research Methods: This study used the Vector Autoregressive Exogenous (VARX) method to capture endogeneity, exogeneity, simultaneity, direct effects, indirect effects, and shock-response of the variables used to measure the relationship between fiscal sustainability and sovereign risk.Empirical Results: The findings indicate a significant relationship between fiscal sustainability and country risk, where an increase in the primary balance raises investor risk perception. Meanwhile, if debt management policies are implemented prudently and effectively, a rise in the debt-to-GDP ratio does not always widen the sovereign spread.Implications: These results suggest that, despite differences in government regimes, policymakers should focus on strengthening the government's ability to manage debt prudently and either generate a primary balance surplus or reduce the deficit by sustainably enhancing revenue and spending policies to maintain fiscal sustainability and lower the country's risk profile.JEL Classification: H62, H60, H63, C32

Research Originality: This research investigates how digital technologies influence environmental quality in Indonesia.Research Objectives: This study examines the impact of digital technologies and socioeconomic variables on environmental quality in Indonesia.Research Methods: This study employs the System-Generalized Method of Moments (GMM) approach and analyzes data from 2013 to 2023. Key variables include digital technology, gross regional domestic product (GRDP), foreign direct investment (FDI), and mean years of schooling.Empirical Results: Computer ownership negatively impacts environmental quality due to higher energy consumption and e-waste. In contrast, GRDP improves environmental quality as wealthier regions invest in green infrastructure and stricter policies. FDI has a harmful effect, supporting the ‘pollution haven’ hypothesis of resource exploitation and unsustainable practices. Education fosters environmental awareness, though its influence is still limited.Implications: Digital technologies can enhance environmental quality, requiring strategic planning and continuous innovation by central and local governments.JEL Classification: O11, O13, Q56

Research Originality: The digital technology transfer in rural entrepreneurship is a knowledge-based solidarity socio-economic (SSE) innovation that drives regional economic growth and reduces inequality.Research Objectives: This study aims to analyze the role of digitalization technology transfer in entrepreneurship on regional economic growth, inequality mitigation, and other related resource factors.Research Methods: The study approach model used a mixed methods design through exploratory and explanatory stages. The data were analyzed quantitatively descriptively with the standard multiple regression tool. The operational variables were measured using the Gini ratio index.Empirical Results: The results showed that digitalization technology transfer encourages regional economic growth. However, the positive role created has not reduced the negative impact and inequality. This inequality could be mitigated by the innovation of the community's social solidarity economic system (SSE). There are indications of the potential of local community wisdom to strengthen informal institutions in society.Implications: Utilizing the community's potential and the SSE model could provide added value for the community's welfare.JEL Classification: O14, O47, P25

Research Originality: This research lies in its comprehensive approach. It utilizes Structural Equation Modeling (SEM) to analyze education levels' direct and indirect impacts on economic growth through various economic indicators.Research Objectives: This study investigates the impact of primary, secondary, and tertiary education levels on Indonesia’s economic growth, specifically examining the mediating effects of Foreign Direct Investment (FDI), credit, exports, and unemployment.Research Methods: The data from the World Development Indicators (WDI) for 2015-2023 offer a long-term perspective on the trends in education and economic performance in Indonesia.Empirical Results: The empirical results indicate that none of the mediators significantly influence the relationship between education levels and Gross Domestic Product (GDP) growth. These challenging conventional theories predict a positive impact of education on economic development. This outcome suggests a potential misalignment between Indonesia’s educational outputs and labor market demand, underscoring the need for policy reforms.Implications: The study implies that to foster meaningful economic growth, Indonesian education policy should enhance curriculum relevance and align educational outcomes with key market needs.JEL Classification: I25, F21, J64

Research Originality: The novelty of this study lies in its use of a combined approach of probit analysis and propensity score matching to evaluate the impact of the Program Keluarga Harapan (PKH) on reducing out-of-school rates at the senior high school level, specifically before and after the COVID-19 pandemic.Research Objectives: The study aims to empirically assess the effectiveness of PKH in enhancing educational outcomes to break the cycle of poverty.Research Methods: The study also utilizes recent data from 2019 and 2022, reflecting the increased financial support of up to IDR 10 million per family per year. The analysis was conducted in two stages: first, on the overall sample of students from eastern Indonesia and other regions, and second, on a subsample of students in eastern Indonesia.Empirical Results: The results indicate that PKH was more effective in 2022, with a 2.3% reduction in the overall sample and a 1.4% reduction in the eastern Indonesian subsample in preventing students from dropping out of school compared to 2019.Implications: The study suggests that PKH can effectively support educational participation and reduce out-of-school rates, supplementing primary programs like PIP (Program Indonesia Pintar).JEL Classification: I26, I38

Research Originality: This study offers a new perspective on the relationship between religiosity and sustainable food consumption in urban and peri-urban communities in Lampung, Indonesia. Research Objectives: The objective was to examine the differences in sustainable food consumption between urban and peri-urban communities, exploring the role of religious beliefs in shaping consumption behavior.Research Methods: A quantitative approach using comparative analysis was used. Data were collected from 250 respondents using purposive sampling, analyzed through statistical tools such as the Shapiro-Wilk Normality Test and Independent Sample t-test.Empirical Results: This study found that there were no differences in consumption behavior between urban and suburban communities with the dimensions of religiosity in the aspects of beliefs and practices. There were differences in consumption behavior between urban and suburban communities with the dimensions of religiosity in the aspects of knowledge and behavior.Implications: This study highlights the need for policymakers and businesses to consider religious factors in promoting sustainable consumption, suggesting that urbanization and access to religious education influence food choices based on religiosity.JEL Classification: D12, D19

Research Originality: The originality of the research is the separation of data in different governments. The request is based on the leadership style, especially in the era of President Susilo Bambang Yudhoyono and President Jokowi.Research Objectives: This study examines the determinants of foreign direct investment (FDI), both in the short and long term in Indonesia during the leadership of Presidents Susilo Bambang Yudhoyono (SBY) and Joko Widodo (Jokowi).Research Methods: This study uses time series data on the World Development Indicators website from 2004 to 2021. Using Autoregressive Distributed Lag (ARDL)Empirical Results: This study finds evidence that institutional quality, economic growth, and presidential regime in the short and long run significantly positively affect FDI. Meanwhile, the population negatively influences FDI in Indonesia in both the short and long run.Implications: These findings imply that to draw in more foreign direct investment (FDI), Indonesia must enhance institutional quality, economic growth, presidential governance, and population control.JEL Classification: F21, F43, G18, H21, R23

Research Originality: The existence of adequate infrastructure, especially in the Tarakan City area, makes the author utilize the integration of the conceptual approaches of the Technology Acceptance Model and the Theory of Planned Research Objectives: This study aims to analyze the influence of variables from the Technology Acceptance Model (TAM) theory and the Theory of Planned Behavior (TPB) on the interest in paying zakat, infaq, and alms through e-zakat.Research Methods: This study uses primary data from the distribution of questionnaires using the purposive sampling method with 111 respondents who are Muslim and domiciled in Tarakan City. The research method is the Structural Equation Model (SEM) Partial Least Square (PLS) approach.Empirical Results: The results obtained that attitudes and behavioral control have a significant influence on the interest in use, while the perception of usefulness, perception of ease, and subjective norms do not have a significant influence on the interest in paying zakat, infaq, and alms through e -zakat.Implications: The community still feels comfortable and easy to pay ZIS directly and the presence of people close to them or the surrounding environment has not fully provided confidence to the Muslim community of Tarakan City to use e-zakat as a payment service.JEL Classification: H71, H76, Q53

Research Originality: Using the data of export diversification index which is excluded in previous studies and most the pervious only look at the relationship between ED and GDP, excluding per capita income as basics for development. Again, previous studies results are contradictory on impact of export diversification performance. Additionally, this paper provides robust empirical evidence of a positive effect of export diversification on per capita income growth.Research Objectives: This paper has the objective to examines how export diversification (ED) increase economic growth and per capita income.Research Methods: The paper achieve its objectives using, panel least technique and co-integration test are used on time series data of 1984-2022 for ECOWAS states.Empirical Results: The paper shows that the export diversification index has a significant influence on GDP growth but inverse, however, manufacturing value-added shows weak but a positive influence on the growth per capita income. Again, the paper reveals that high skewness of ECOWAS region to primary products export which could be responsible for the low growth per capita income. The finding of this is not the volume of exported products that matters, but how dynamic is exported products.Implications: The paper therefore recommends ECOWAS countries need to develop processing capability for export that comes from endogenous sufficiency.JEL Classification: C23, F10, O47, O55

Research Originality: The Covid-19 pandemic brought out the phenomenon of a rapid increase in investment after it has ended in Indonesia. This study gives a significant contribution in analyze the impact of pandemic on foreign direct investment.Research Objectives: The aim of this research is to predict whether there is a relationship of interest rates, inflation, labor force, GDP, and exchange rate with investment.Research Methods: This research is also to examine the asymmetric relationship among variables using the NARDL (Nonlinear Autoregressive Distributed Lag) method to identify the long-run effects of these variables on the investment after the Covid-19 pandemic in Indonesia. It uses the secondary data from 1980-2022.Empirical Results: The results of research show that there is a long-run asymmetric effect of the variables of interest rates, GDP, and exchange rates on the foreign direct investment. It means that changes in these variable factors do not only affect the size of investment, but also the speed of its increase after the pandemic. Meanwhile, there is no asymmetric effect of the variables of labor force and inflation on the investment.Implications: This research provides a picture and new insights related to the foreign direct investment dynamics in Indonesia after the Covid-19 pandemic. This study implies that require a different policy approach in an effort to increase the investment in Indonesia.JEL Classification: F21, O40