Journal of Economics Research and Policy Studies

Ekspor teknologi tinggi, PMA dan pengendalian korupsi dalam dinamika kompleksitas ekonomi Indonesia

2026-07-01T10:33:12+07:00

This research explores the determinants shaping Indonesia's economic complexity index between 1998 and 2024, specifically examining three critical variables: technologically advanced product exports, incoming foreign capital investments, and governmental anti-corruption measures. Employing a quantitative analytical framework, the study utilizes secondary time-series data analyzed through the Error Correction Model methodology, enabling distinction between immediate and sustained economic dynamics. Empirical findings reveal nuanced patterns across different temporal horizons. Technologically sophisticated exports demonstrate statistically insignificant immediate effects but emerge as robust positive contributors over extended periods. Foreign capital inflows, conversely, exhibit no meaningful statistical association with the complexity index across both short-term and long-term frameworks. Anti-corruption governance initiatives consistently prove their significance, displaying positive statistical relationships regardless of temporal scope. The collective analytical power of these three determinants demonstrates substantial explanatory capacity, jointly accounting for significant variations in Indonesia's economic complexity measurement across both analytical timeframes. These results underscore the differential temporal impacts of technological advancement, capital mobility, and institutional quality on economic sophistication within developing economies.

Analisisi perbedaan abnormal return dan trading volume terhadap pergantian menteri keuangan activity: Studi peristiwa pada saham perbankan dan energi

2026-04-25T21:05:04+07:00

Political events, particularly those related to changes in strategic economic positions, often attract investor attention due to their potential to influence economic stability and the direction of a country’s policy. The replacement of the Minister of Finance, as the primary authority in fiscal policy, can trigger market reactions reflected in stock price movements and trading activity. Previous studies have shown that political events and government policies can elicit significant market responses, including abnormal returns and changes in trading volume. In this context, this study analyzes the reaction of the Indonesian capital market to the announcement of the replacement of the Minister of Finance on September 8, 2025, focusing on stocks in the banking and energy sectors. This study employs a quantitative approach using an event study method with an observation window of 31 trading days, consisting of 15 days before, 1 day during, and 15 days after the event, using daily stock prices and trading volume data. The analysis compares conditions before and after the event using nonparametric statistical methods. The results indicate that there is no significant difference in abnormal returns between the two sectors; however, the banking sector shows a significant increase in trading volume. These findings suggest that the market responds more to political events through changes in trading activity rather than abnormal returns.

Analisis struktur ekonomi daerah berbasis pertambangan: indikasi enclave economy di Kabupaten Sumbawa Barat

2026-05-04T11:25:28+07:00

West Sumbawa Regency has an economic structure that is highly dependent on the mining sector, with an average contribution of 65–82% to the GRDP during the 2010–2023 period. This study aims to identify base sectors, analyze regional competitiveness, examine indications of an enclave economy, and determine potential sectors for post-mining economic diversification. The method used is a quantitative descriptive-analytical approach by utilizing secondary data of sectoral GRDP for 2010–2023. The analysis was conducted using Location Quotient (LQ), Shift-Share, Esteban-Marquillas, Overlay Analysis, and Klassen Typology. The results show that the mining sector is the main base sector with an LQ value of 4.67. Shift-Share analysis indicates that the construction, agriculture, and transportation sectors have relatively high competitive advantages. Meanwhile, Esteban-Marquillas' analysis shows that the mining sector is in a decline phase characterized by negative Competitive Effect and Allocation Effect values. Klassen Typology shows that there are no sectors in Quadrant I, thus reflecting weak economic diversification. These findings indicate strong enclave economy characteristics with still low sectoral linkages to regional economic transformation.

Pengaruh strategi kanal digital terhadap kinerja UMKM e-commerce di Indonesia: Analisis regresi logistik

2026-05-28T14:42:48+07:00

This study aims to analyze the determinants of e-commerce MSME performance in Indonesia by emphasizing the role of digital channel strategy, internal business capacity, and geographical location factors. The study uses cross-sectional secondary data from the 2023 E-commerce Survey conducted by Statistics Indonesia, covering 35,543 e-commerce MSMEs. Binary logistic regression was employed to examine the effects of marketplace usage, digital capability, information technology training, education, Java location, and the interaction between marketplace usage and location on the probability of increased business income. The results show that marketplace usage has no significant effect on the probability of improved business performance. In contrast, digital capability, information technology training, and education have positive and significant effects on the probability of increased business income. Business location in Java negatively affects the probability of performance improvement. Furthermore, the interaction between marketplace usage and Java location has a significant negative effect, indicating that the benefits of marketplace utilization in Java are lower than outside Java due to higher digital market competition. These findings suggest that the performance improvement of digital MSMEs is determined more by the internal capacity of business actors than by the type of digital channel used.

Circular economy approach: A sustainable business model in transforming farmers’ livelihoods

2026-04-25T21:03:39+07:00

The transition toward a circular economy in agriculture is essential for improving resource efficiency, reducing waste, and strengthening farmers’ livelihoods. This study aims to formulate a sustainable business model based on a circular economy approach to support the transformation of farmers’ livelihoods. A qualitative descriptive case study was conducted using interviews, focus group discussions, field observations, and secondary data. The data were analyzed using SWOT, IFAS–EFAS, and TOWS matrices to identify internal and external strategic factors. The IFAS results show that strengths exceed weaknesses, with a difference of 0.415, while the EFAS results indicate that opportunities exceed threats, with a difference of 0.414. These findings place the farmers’ business position in the aggressive or SO quadrant. The key strategic insight is that farmers should prioritize market expansion for organic products, technology adoption, product differentiation, stronger partnerships, and research collaboration while gradually improving post-harvest processing, packaging, human resource regeneration, and access to financing. A circular economy-based sustainable business model is feasible for transforming farmers’ livelihoods by improving cost efficiency, product quality, supply stability, market access, and business resilience.

Digital financial innovation and MSMES’ sustainable performance in developing countries: A prisma-based systematic review

2026-04-26T01:54:30+07:00

MSMEs play a vital role in economic growth and job creation in developing countries, yet they still face numerous challenges that can be addressed through digital financial innovation, although evidence on their impact on sustainable performance remains fragmented and not yet comprehensively integrated. This study presents a PRISMA-based systematic literature review of 40 studies retrieved from Web of Science and Scopus (2020–2025). The selected studies were synthesized using thematic content analysis to identify dominant theoretical foundations, methodological approaches, and contextual factors. The findings show that digital financial innovation improves MSME performance through enhanced financial inclusion, operational efficiency, and business resilience. However, the magnitude of these effects varies across countries due to differences in digital infrastructure, regulatory environments, and digital literacy levels. Cross-sectional designs dominate the literature, while longitudinal evidence remains limited. Overall, institutional and infrastructural readiness is a key determinant of the effectiveness of digital financial innovation in supporting MSME sustainability.

Tracing the economic valuation of Mount Merbabu National Park: Benefit transfer method

2026-05-19T05:06:18+07:00

Natural resource management problems occur because the value of environmental services is often ignored compared to economic commodities, thus increasing pressure and degradation on the National Park forest area. This study analyzes the economic valuation of Mount Merbabu National Park to determine its estimated Total Economic Value (TEV), comprising direct use value (timber, non-timber products, water consumption), indirect use value (soil and water conservation, carbon sequestration, flood prevention, water transportation, and biodiversity), and non use value (option and existence value) as a quantitative basis for sustainability planning. The novelty of this study lies in the first application of the benefit transfer method to Mount Merbabu National Park, transferring reference values from the Food and Agriculture Organization (2009) report on Indonesian Conservation Forests by adjusting for an average inflation rate of 5.28% over the 23 years (2002–2025) and scaling to the park’s specific area of 5,820.49 ha. The findings estimate the 2025 economic value of the park at 82,894.81 US$/ha. Notably, Use Value dominates this figure at 77,382.23 US$ / ha, driven primarily by water consumption (32,795.54 US$/ha) and flood prevention (16,383.93 US$/ha), highlighting the vital role of direct and indirect ecological functions for the surrounding community.