Economic Development In Indonesia Research Articles

DEVELOPMENT OF SEMIPARAMETRIC PATH ANALYSIS MODELING TRUNCATED SPLINE: DETERMINANTS OF INCREASED REGIONAL ECONOMIC GROWTH

This research aims to determine regional economic improvement to achieve a better Indonesian economy and accelerate the path to achieving a Golden Indonesia in 2045 so that it can be realized in a shorter time. This goal will be achieved with the help of statistical analysis methods, where the analysis used in this research is semiparametric truncated spline indirect effect and total effect analysis. The research becomes original in its approach with the utilization of this method and offers novel insights into the dynamics of regional economic development in Indonesia. These methods in this research serve as a tool for analyzing regional economic dynamics, identifying critical factors for improvement, informing policy decisions aimed at realizing Indonesia's economic aspirations for the future, and providing more flexible results to achieve the research objectives. The study was carried out on data with regional expenditure variables as exogenous variables, labor absorption variables as mediating endogenous variables, and regional economic growth variables as pure endogenous variables. The data used in the research are data published by the National/Provincial Central Bureau of Statistics in the form of the Indonesian Statistics Book, BPS publications in the form of Provinces, Provincial Government Financial Statistics, Directorate General of Financial Balance, Sumreg Bappenas, as well as from Ministries, Institutions or Agencies that related to providing data relating to the variables of this research in 2020. The results of this research are that the relationship between regional expenditure variables and labor absorption variables has a significant effect on regional economic growth variables.

Analysis of Halal Tourism Development on Economic Development in Indonesia

Halal tourism is part of the tourism industry that provides tourism services regarding Islamic rules. The rapid development of tourism has led to a new trend of developing halal tourism. However, its development is still experiencing several obstacles and challenges in various regions of Indonesia. This study aims to analyze the development of halal tourism and its impact on economic development in Indonesia. Halal tourism prioritizes fulfilling the basic needs of Muslims in tourist destinations, such as worship, purification, and traveling according to Sharia provisions. Potential trips made by Muslim tourists show a positive increase. The government through the Ministry of Tourism must immediately complete regulations related to the development of halal tourism, as well as produce standardization regarding the concept of halal tourism that will be implemented in Indonesia. Halal tourism development has a significant impact on Indonesia’s economic development. This can be seen from the emergence of various types of businesses in tourist attraction locations, infrastructure improvements to and from tourist attraction locations, the opening of new jobs, and the increase of local revenue in various regions. Keywords: development of halal tourism, halal tourism, economic development

The Role of Green Sukuk (Islamic Bonds/ Shariah-Compliant Bonds) in Enhancing Indonesia Economic Development Strategy in The New Normal Era

This study aims to determine the significance of Green Sukuk in enhancing Indonesia’s economic development strategy in the new normal era. - The method employed was quantitative with forecasting. Furthermore, the researchers employed the least squares quantitative and historical analogy qualitative techniques. The study’s findings indicate Green Sukuk’s role in boosting Indonesia’s economic development plan in the new normal era. The implications of the study are likely to add to the body of knowledge linked to the function of Green Sukuk in enhancing Indonesia’s economic growth strategy in the new normal era. Increasing the number of issuances and contributions of State Sukuk (Islamic bonds/ shariah-compliant bonds) to APBN funding, with an annual average of roughly 30% of total Government Securities (SBN) financing. To the best of the researchers’ knowledge, this is one of the first attempts to empirically study the function of Sukuk in boosting Indonesia’s economic development strategy in the new normal era. Keywords: Green Sukuk, Development Strategy, Indonesian Economy, and the New Normal Era

Protection for Micro, Small and Medium Enterprises Based on Indonesian Law

Legal protection for Micro, Small and Medium Enterprises (MSMEs) is important in the context of Indonesia's economic development. MSMEs have a strategic role in economic growth, job creation and equal distribution of the economy. However, MSMEs are often vulnerable to various challenges and risks, including intense market competition, access to capital and technology, and legal issues.

The Relationship between Startup Incubator Development and Venture Capital Investment on Digital Economic Growth in Indonesia

This study examines the relationship between startup incubator development, venture capital investment, and digital economy growth in Indonesia through quantitative analysis. Utilizing a survey method, data was collected from stakeholders in the Indonesian startup ecosystem. Structural Equation Modeling (SEM) with Partial Least Squares (PLS) analysis was conducted to analyze the data and test the hypotheses. The results reveal significant positive relationships between startup incubator development, venture capital investment, and digital economy growth. These findings underscore the pivotal roles of startup incubators and venture capital in fostering digital innovation and economic development in Indonesia, providing valuable insights for policymakers, investors, and entrepreneurs aiming to nurture the growth of the digital economy.

Kearifan Lokal Dan Pendekatan Dalam Pemanfaatan Sumber Daya Alam Untuk Ekonomi Desa Sesaot

Local wisdom is a cultural heritage that has been acquired and passed down from generation to generation in a community or society. Local wisdom includes knowledge, values, technology, practices and skills possessed by the community in utilizing the natural resources around them. Wise and sustainable use of natural resources is important in the context of village economic development, especially in Indonesia which has abundant natural wealth. Research Method Observer as an instrument (human instrument) This means that the researcher himself has the function of determining the focus of the research, selecting informants as data sources, carrying out data collection, analyzing data, and making conclusions about his findings. The research results show that local wisdom in the use of natural resources for village economic development, especially in Sesaot Village, West Lombok Regency, West Nusa Tenggara Province, Indonesia. Local wisdom is a cultural heritage that includes knowledge, values, technology, practices and skills passed down from generation to generation in a community. Wise and sustainable use of natural resources is important in the context of village economic development in Indonesia which has abundant natural wealth. The local wisdom approach in the use of natural resources includes the knowledge, practices and expertise possessed by local communities. In Sesaot Village, the community has long developed local wisdom in utilizing the natural resources around them, including in managing forests using a customary system that has existed since their ancestors. By optimizing local wisdom, communities are able to utilize natural resources sustainably while preserving nature through environmentally friendly practices. Utilization of natural resources for village economic development provides many benefits, including increasing income, creating jobs, developing industry, strengthening the local economy, and improving the quality of life of village communities. Political ecology approaches, human welfare ecology, and anthropological perspectives are used to understand and apply local wisdom in environmental management and village economic development

The Impact of Islamic Financial Deepening on Economic Growth in Indonesia

Indonesia is starting to pay attention to this trending issue to boost national economic growth because Indonesia is still below other countries regarding the development of its financial sector, especially in Islamic finance. This study employs a quantitative research approach, utilizing multiple linear regression analysis, to investigate the influence of various aspects of Islamic finance on Gross Domestic Product (GDP) as an indicator of economic growth in Indonesia. This research is expected to be able to examine in more detail the role model of Islamic financial deepening in Indonesia and how it affects economic growth. Through a comprehensive discussion, we examine the potential impact of Islamic financial instruments, including Murabahah, Mudharabah (Islamic deposit), total assets of Islamic banking, Islamic stock market capitalization, and Islamic stock transaction volume, on economic growth. Findings suggest that while certain components, such as government bonds (sukuk), have a significant positive influence on GDP through infrastructure financing and investor confidence, others, like corporate bonds (sukuk), may have limited direct impact due to their focus on specific corporations rather than broad-based economic growth. This research contributes to the understanding of the role of Islamic finance in Indonesia's economic development and informs policymakers, practitioners, and academics on optimizing its contributions while ensuring financial stability and inclusion.

The Influence of Gender on the Performance of Village-Owned Enterprises in the Province of East Java, Indonesia

Village-owned enterprises constitute a significant facet of the government's endeavours to bolster rural economic growth; however, the current scenario in Indonesia showcases a concerning trend of underperformance within these enterprises. This study delves into the impact of female managers on the performance of village-owned enterprises, employing cross-sectional data sourced from 100 such enterprises in East Java, Indonesia. The data was subjected to analysis through an ordered probit model. The principal finding of this study underscores the noteworthy and statistically significant influence exerted by female managers on the performance of village-owned enterprises. This observation implies that enterprises led by female managers tend to exhibit superior performance compared to those managed by their male counterparts. Concurrently, the study underscores the pivotal role of demographic profiles, such as age and education, in shaping managerial performance. These findings carry significant implications for policy formulation. They underscore the urgent need to enhance women's empowerment in rural areas, specifically by encouraging their active participation in village-owned enterprises. Additionally, the study underscores the broader importance of augmenting the knowledge and skills of both male and female managers. Such efforts hold the potential to substantially enhance the contributions of village-owned enterprises to Indonesia's economic landscape. In summary, the study's findings emphasize the pivotal role of female managers in boosting the performance of village-owned enterprises. These insights underscore the necessity of empowering women in rural settings and cultivating knowledge across genders. By addressing these imperatives, policymakers can harness the potential of village-owned enterprises for driving sustainable rural economic development in Indonesia.

Product Marketing Strategy for Maximizing Sales

Micro, small, and medium enterprises are one of the leading driving forces in economic development in Indonesia. Marketing strategy is a form of plan that is outlined in the field of marketing. To obtain optimal results, this marketing strategy has a broad scope in the field of marketing, including strategies for facing competition, price, and promotion strategies. The purpose of this research is to analyze product marketing strategy for maximizing sales. The research approach used in this research is a quantitative approach. The population in this study was 50 Micro, Small, and Medium Enterprises in Medan City. Sampling was taken using a saturated sample of 50 Micro, Small, and Medium Enterprises entrepreneurs in Medan City. To answer the problem formulation in research using partial (t) testing. The results of research using the t test show that there is a partially significant effect of price on maximizing sales in Micro, Small, and Medium Enterprises in Medan City. There is a partially significant effect of promotion on maximizing sales in Micro, Small, and Medium Enterprises in Medan City.

The Influence of Green Leadership and Entrepreneurship on the Sustainability of Manufacturing Companies: Mediation of Green Innovation and Knowledge Management

<em>The industrial sector is one of the main contributors to Indonesia's economic development and GDP. However, the growth of the manufacturing industry cannot be separated from negative effects such as waste or emissions produced. The industrial sector is under pressure to immediately reduce the impact of its production emissions and waste on the environment. It needs to transform in a greener direction to improve the company's sustainability performance which consists of 3 aspects, namely economic, environmental, and social. This research will examine the influence of green transformational leadership, knowledge-oriented leadership, and green entrepreneurial orientation on corporate sustainability performance through the mediating role of green innovation and knowledge management processes. The research will be carried out using qualitative methods on 133 manufacturing industries in Indonesia with Structural Equation Modeling (SEM) analysis with the Partial Least Square (PLS) method to test the hypothesis. The results of this research show that the role of mediation has a positive influence on the company's sustainability performance, especially the knowledge management process which can act as a mediator between green transformational leadership, knowledge-oriented leadership, and green entrepreneurial orientation and the company's sustainability performance.</em>

Promoting Islamic Philanthropy as a Social Finance Instrument in 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.

Peran Cash Waqf Linked Sukuk (CWLS) dalam Pemerataan Ekonomi dan Kesejahteraan di Indonesia

Wakaf was the economic base of the Mamluk dynasty. Wakaf undergoes transformation with the needs of the times because wakaf has a higher value of flexibility compared to zakat, one of which is the use of productive wakafs, like money wakaf. One of the innovations of the money waqf is the presence of Cash Waqf Linked Sukuk where the urgency of the publication of CWLS among other things strengthens the financial economic capacity of the Shariah, strengthens management of the national wahaf institutions, supports the achievement of SDGs, and encourages social investment. This research uses a kind of library research method by gathering data from a variety of literature. The CWLS can prove that even though the wahaf value is not high, it still brings tremendous benefits. From the first publication of the Wakaf chapter to the present day, the CWLS results have contributed significantly to the economic sector or other sectors, such as post-pandemic economic recovery, development and provision of health facilities, empowerment of farmers, and various other tools programmes. CWLS could be a leading product in the future and a reserve for Indonesian economic development.

THE INFLUENCE OF PROFITABILITY RATIOS, DER, PBV, AND COVID19 ON STOCK RETURNS

Investment is one of the activities that influences the growth of the Indonesian economy. Investment not only helps in economic development in Indonesia but also helps companies optimize their growth and provide a good response to investors. Investors have the main goal, namely achieving high returns or stock returns. However, high returns can also carry high risks, because shares have no certainty that they will rise or fall quickly and suddenly. Sudden changes in stock prices play an important role in determining stock prices and returns which can rise or fall very sharply so that they can create uncertainty for investors in making decisions to invest in a stock. The aim of this research is to determine the effect of PBV, ROE, NPM, EPS, DER, COVID on stock returns. To find out what factors cause what, this research uses a comparative causal research strategy. Companies in the Financial sector (consisting of 106 shares) which are included in the Composite Stock Price Index (also called IHSG) are the focus of this research. Data is taken from the application (Stockbit), in obtaining financial data. that researchers will use (idx.co.id). PBV has a positive effect on stock returns. Meanwhile, ROE, NPM, EPS, DER, COVID have no effect on stock returns

A Crude Palm Oil Industry Concentration and Influencing Factors: A Case Study of Indonesia as the World's Largest Producer

The Crude Palm Oil (CPO) industry is one of the plantation commodities that has a strategic role in Indonesia's economic development. The number of companies and CPO production is always increasing, but the concentration of the industry that always decreases every year makes it important to analyze the factors that affect the concentration of the CPO industry in Indonesia. The data period used in this study was from 2001 to 2020. In this study, data sources were obtained from the Central Bureau of Statistics (BPS) Indonesia, Word Bank, and UN Comtrade. The data analysis method used is regression analysis of the Error Correction Model (ECM). The results showed that technical efficiency has a negative and significant relationship both in the long and short term to the concentration of the CPO industry. Competitiveness in the long term has a positive and significant relationship, while in the short term it is negative but not significant to the concentration of the Indonesian CPO industry. In the long run, the relationship between RSPO and Indonesia's CPO industry concentration tends to be negative but not significant, while in the short term it shows a significant influence. World CPO prices, both long-term and short-term, provide a positive and significant correlation to the concentration of the Indonesian CPO Industry. Indonesia's CPO exports in the long and short term have a negative and significant effect on the concentration of the Indonesian CPO industry.

PENGARUH INTERNASIONAL TERHADAP PERKEMBANGAN PEMBANGUNAN EKONOMI DI INDONESIA

ABSTRACTThe economy of a nation is impacted by its own global influence and prowess. This is also applicable to Indonesia. Indonesia must confront a complex and multifaceted global landscape. Hence, it is imperative to establish clear-cut criteria to ensure the attainment of economic development objectives. This study employed library research as a methodology and utilized descriptive analysis to investigate the factors influencing national economic development, with a specific focus on the Indonesian state. The success or failure of Indonesia's economic development is contingent upon international influence, which is shaped by the intricate global landscape. Indonesia's economic progress is intricately linked to various significant events such as conflicts between energy and food producing nations, pandemics, foreign debt held in foreign currencies, particularly the US dollar, economic downturns and soaring inflation in the US and Europe, as well as the impact of globalization through international trade and foreign investment.Keywords: Economic Development, Gini Ratio

Literatur Review: Pasar Modal Syariah Terhadap Pertumbuhan Ekonomi Indonesia

The purpose of this journal research is to conduct an analysis of the Islamic capital market on Indonesia's economic growth, this research uses the literature review study method with research data on articles and scientific journals as many as 5 journals that have been reviewed with a series of library data collection activities, reading and recording, and managing research materials. The results of the analysis show that Islamic stocks and sukuk have a positive and significant influence on national economic growth. This indicates that investment in both instruments can make an important positive contribution to Indonesia's economic development. Islamic stocks, showing a significant positive influence on economic growth, utilize sharia principles to provide sustainable profits for investors and a positive contribution to the national economy as a whole. Sukuk, as an instrument of Islamic debt, also plays an important role in supporting economic growth by providing a sustainable source of funding for economic projects. Although Islamic mutual funds have a significant negative influence on economic growth, these findings show that they still have the potential to support a sustainable Islamic financial sector in Indonesia.

The Effect of Musyarakah Financing on Economic Development in Indonesia (Case Study on Islamic Commercial Banks for the 2018-2022 Period)

This research is motivated by the inequality of economic development in Indonesia through the achievement of the Human Development Index in each province in Indonesia. Then, Islamic Commercial Banks carry out the technical sharing of the results of the musyarakah financing business with net revenue sharing, so that Islamic Commercial Banks tend not to know the working capital rotated by customers experiencing losses or profits. The purpose of this study is to analyze the effect of musyarakah financing on economic development. This study uses an empirical juridical approach with quantitative research types and analytical descriptive research methods. The data used is panel data from Islamic Commercial Banks registered with the Financial Services Authority (OJK) for the 2018-2022 period. The sampling method used in this research is a non-probability sampling technique, while the data processing method is regression analysis using EViews 12. The results of this study indicate that musyarakah financing has an insignificant positive effect on economic development with the Human Development Index as an indicator with a significance level of 0.2113 greater than 0.05. The coefficient of determination with an adjusted R square value of 0.017605 indicates that the influence of musyarakah on economic development is 1.7605%, while the remaining 98.2395% is influenced by other variables outside the study.

Model Konseptual Pengaruh Keterlibatan Karyawan terhadap Peningkatan Kinerja Karyawan Generasi Y dan Generasi Z pada Perusahaan Swasta

Private companies are an industrial sector that greatly contributes to economic development in Indonesia, especially in terms of employment. The lack of employee engagement that dominates the world of work today with different generations is a problem for company leaders in managing their employees. Private companies must have high-performing employees by involving employees to fully contribute to achieving company goals. Evaluation of employee performance needs to be improved by considering aspects of employee involvement. This research aims to design a conceptual model of the influence of employee involvement on private-sector employee performance. Indicators of employee engagement and employee performance were identified from literature studies. Then, indicators were determined that were relevant to private companies in West Sumatra, then sorted the indicators were based on similarity in terminology. The results of the initial identification stage were 52 indicators of employee engagement consisting of indicators in the dimensions of basic need, management support, teamwork, and growth. Employee performance indicators 39 consist of indicators in the dimensions of effort, job knowledge, quantity, quality, compliance with rules, and interpersonal competence. The next step is validation of the indicators by experts from practitioners, academics, and professionals in the field. The validation results state that all indicators are important and relevant for private companies in West Sumatra. This conceptual model is expected to help private companies improve employee performance.

The Role of Ecotourism in Promoting Sustainable Economic Development in Indonesia

This study investigates the role of ecotourism in fostering sustainable economic development in Indonesia, a country renowned for its rich biodiversity and unique cultural heritage. With the dual challenges of preserving its natural environment and promoting economic growth, Indonesia presents a compelling case for the potential benefits of ecotourism. The research aims to elucidate how ecotourism can serve as a sustainable development strategy that benefits both the environment and the economy. Employing a mixed-methods approach, the study combines quantitative data analysis with qualitative interviews and case studies from various Indonesian ecotourism sites. This methodology enables a comprehensive examination of ecotourism’s economic, environmental, and social impacts. The analysis focuses on key indicators such as income generation, job creation, environmental conservation efforts, and community involvement in ecotourism projects. Findings reveal that ecotourism significantly contributes to local economies, particularly in rural and remote areas, by providing sustainable livelihoods, enhancing local capacity, and fostering entrepreneurship. Additionally, ecotourism initiatives have been instrumental in promoting environmental conservation through community-based projects, wildlife protection, and habitat preservation efforts. Importantly, the study highlights the critical role of policy frameworks and stakeholder collaboration in maximizing the benefits of ecotourism. The significance of this research lies in its contribution to the understanding of ecotourism as a viable tool for sustainable economic development in developing countries, with Indonesia serving as a model. It offers valuable insights for policymakers, tourism developers, and conservationists seeking to balance economic development with environmental sustainability. By highlighting successful practices and identifying challenges, this study provides a roadmap for optimizing the benefits of ecotourism in Indonesia and similar contexts globally.

PENGARUH VARIASI PRODUK, MODAL USAHA, DAN PEMANFAATAN MEDIA SOSIAL TERHADAP PENGEMBANGAN USAHA PET SHOP DI SURABAYA BARAT

Small businesses play an important role in economic development in Indonesia. One of them is the Pet Shop business. The Pet Shop business is a business that stems from the hobby of cat enthusiasts. Pet Shop in West Surabaya is a business engaged in providing products and services in meeting the needs of pets. The existence of Pet Shop in the West Surabaya area is quite beneficial for animal lovers because it can make it easier for them to find their pet needs, including providing several product variations such as selling pet food products, selling accessories for pets such as cages, collars, litter boxes, clothes, toys, hats, sand, and cutlery, and also providing grooming for pet hygiene and pet care for pet owners who are going home or traveling far away. This study aims to determine the effect of product variety, business capital, and social media utilization on Pet Shop business development in West Surabaya. The research method used is quantitative research method. In collecting data in this study using a questionnaire distributed through the google-form technique. In the questionnaire there are questions related to indicators on the independent and dependent variables. Data collection in this study used non-probability sampling method with saturated sampling or census. The population in this study were 30 respondents from Pet Shop business actors in West Surabaya. Based on the results of this study, it proves that product variations and business capital partially have a positive impact and have no significant effect on Pet Shop Business Development in West Surabaya. Meanwhile, social media utilization partially has a positive and significant impact on Pet Shop business development in West Surabaya.