Journal of Economics Research and Policy Studies

Sociodemography effect on digital financial inclusion in Indonesia: Evidence from the World Bank’s Global Findex

Nur Andriyani, Annisa Nur Salam, Siti Aisyah, Handy Nugraha — Wed, 26 Nov 2025 00:00:00 +0700

Digital financial inclusion is an effective and efficient measure in accelerating financial inclusion, including in Indonesia. This study aims to analyze sociodemographic factors on the probability of digital payment usage. The data used comes from the World Bank Gallup World Poll Survey 2021 on the Global Financial Inclusion Index released by the World Bank, with 1,062 respondents. By applying logistic regression, this study explores the influence of sociodemographic factors such as gender, education, income, age, place of residence, and internet access on the probability of using digital payments. The results show an imbalance in gender, with women having a higher likelihood of using digital payments. Additionally, higher education and income levels increase the likelihood of using digital payments. However, there is an inconsistency where higher income actually reduces the likelihood of using digital payment services. On the other hand, there is a disparity in opportunities between individuals living in rural and urban areas and in accessibility to the internet. The U-shaped hypothesis regarding the relationship between age and digital payment usage is proven in this study. Overall, the results show that individuals with higher sociodemographic status are more likely to use financial technology.

Dampak ekspor, impor, dan nilai tukar petani terhadap pertumbuhan ekonomi di Jawa Tengah dengan indeks harga konsumen sebagai variabel moderasi

Lia Indriyani, Iskandar Iskandar — Tue, 30 Dec 2025 00:00:00 +0700

This study aims to examine the impact of Exports, Imports, and the Farmers' Exchange Rate on Economic Growth in Central Java Province during 2016-2023, with the Consumer Price Index (CPI) as a Moderating Variable. The method used in this study is a quantitative approach, using secondary data from the BPS publication website in the form of time-series data. The data used consist of monthly records from 2016 to 2023, totaling 96 observations. The data analysis method employed is multiple linear regression analysis with Moderated Regression Analysis (MRA). The results of this study indicate that exports, imports, and the Consumer Price Index have a positive and significant effect on economic growth. In contrast, the farmers' exchange rate has a positive but insignificant effect. Furthermore, the Consumer Price Index has been shown to moderate the negative impact of exports and imports on economic growth. However, it does not moderate the adverse effect of the farmers' exchange rate.

Determinants of poverty levels in Indonesia: The roles of economic growth, HDI, and unemployment

Dian Prehatin; Miftakhul Choiri — Tue, 30 Dec 2025 00:00:00 +0700

Poverty remains a major challenge that impedes sustainable development in Indonesia. Although a range of poverty alleviation programs has been implemented, reductions in the poverty rate have not been as substantial as expected. This condition suggests that economic growth and improvements in quality of life have not fully reached vulnerable groups, highlighting the need for empirical analysis to identify the factors shaping poverty levels. This study examines the effects of economic growth, the Human Development Index (HDI), and the unemployment rate on poverty in Indonesia. The study uses a quantitative approach with secondary time-series data from 2011 to 2023 obtained from Statistics Indonesia (BPS). Multiple linear regression is applied to test the relationships among variables. The findings indicate that economic growth and unemployment do not have a statistically significant effect on poverty levels in Indonesia. In contrast, HDI has a significant effect on poverty, underscoring the importance of improving human development through education, health, and a decent standard of living as a key pathway for poverty reduction.

Kontribusi fiskal daerah terhadap peningkatan kesejahteraan masyarakat: Studi Kasus Provinsi Jawa Tengah

Tue, 30 Dec 2025 00:00:00 +0700

The main problem of this study lies in how fiscal contributions through local taxes, transfers, and expenditures can genuinely enhance community welfare. In fact, the effectiveness of public fund utilization has not been optimal, resulting in a less-than-maximum impact on human development. This study aims to analyze the contribution of regional fiscal policy to improving community welfare in Central Java Province during the 2021–2023 period. The Human Development Index (HDI) is used as an indicator of welfare, focusing on the effects of regional taxes, intergovernmental transfers, and regional expenditures. A quantitative approach is employed using panel data regression analysis with the Fixed Effect Model (FEM). The results show that simultaneously, all three independent variables have a significant effect on the HDI. However, partially, only regional taxes and regional expenditures significantly influence the HDI, while intergovernmental transfers do not have a significant effect. These findings indicate that the effectiveness of public fund utilization has not yet been optimal in supporting human development. Therefore, more targeted fiscal management is needed to ensure that fiscal outcomes have a real impact on community welfare.

Perdagangan dan pertumbuhan di RCEP: Ekspor vs impor terhadap produk domestik bruto

Faisha Aprilia Riskiyah Aisyi, Windhu Putra — Tue, 30 Dec 2025 00:00:00 +0700

This study examines the effects of exports and imports on gross domestic product (GDP) in six member countries of the Regional Comprehensive Economic Partnership (RCEP) over 2013–2022. Using secondary data from the World Integrated Trade Solution (WITS), the analysis applies panel data regression to test the significance of trade variables for economic output. The results show that exports have a positive and statistically significant effect on GDP. This pattern is consistent with stronger global demand following the post-2008 recovery and the COVID-19 rebound, alongside a shift toward higher-value-added exports and improved export capacity, supported by strategic industrial policies and commodity downstreaming. In contrast, imports show a negative, though statistically insignificant, relationship with GDP. This weak import–GDP linkage is due to the dominance of consumer goods and processed oil and gas imports, limitations in domestic infrastructure and technological capacity, dependence on raw commodity exports, and the suboptimal orientation of trade policy.

Economic elasticity and linguistic strategies in marketing processed Cassava: A systematic literature review

Tue, 30 Dec 2025 00:00:00 +0700

The processed cassava industry in Indonesia plays a strategic role in supporting food security and regional economic development, yet it remains underexplored from the perspectives of economic elasticity and promotional language. This systematic literature review synthesizes recent empirical and theoretical studies on price and income elasticity and linguistic strategies in agro-food marketing. Literature searches were conducted using the Publish or Perish 8 software across Scopus, Web of Science, and Google Scholar databases for the 2019–2025 period with the keywords “cassava industry,” “price elasticity,” “income elasticity,” “marketing discourse,” and “linguistic strategy in agro-food.” From an initial 200 articles, 43 met the inclusion criteria and were analyzed in depth. The findings reveal that the price elasticity of processed cassava products varies across market segments, influenced by product differentiation and consumer income. Promotional language employing metaphors, health claims, and cultural references enhances consumer perception and willingness to pay. This study highlights the importance of integrating economic elasticity analysis with discourse-based marketing strategies to strengthen competitiveness and sustainability in Indonesia’s processed cassava industry.

Analisis pelayanan publik dalam implementasi Program Keluarga Harapan (PKH) di Kelurahan Tatura Selatan, Kota Palu

Nurziah Nurziah, Nora Ariani, Chikal Annisa — Tue, 30 Dec 2025 00:00:00 +0700

This study aims to evaluate the quality of public services in Tatura Selatan Sub-district, Palu City, with a specific focus on the distribution mechanism of the Family Hope Program (PKH). A qualitative approach was employed to analyze four main dimensions: service effectiveness, community satisfaction, response speed, and bureaucratic communication. The findings indicate that public service delivery at the sub-district level is relatively effective and meets most of the beneficiaries' needs. However, response speed and communication still require improvement, particularly in information dissemination and administrative simplification. Academically, this study contributes to the existing literature on public service implementation at the local administrative level by emphasizing the integration of effectiveness, responsiveness, and communication within social assistance programs. The novelty of this research lies in its micro-level approach that links bureaucratic performance dynamics with beneficiaries' perceptions, offering a new perspective on how social service quality can be enhanced through the synergy of internal governance and public communication strategies. The findings provide a foundation for recommendations to improve effectiveness, satisfaction, responsiveness, and communication in social program implementation, ensuring greater transparency, adaptability, and accountability.

Determinasi penerimaan pajak daerah di Provinsi Aceh

Sulis Tia Wati, Iskandar Iskandar, Safuridar Safuridar — Tue, 30 Dec 2025 00:00:00 +0700

This study examines how gross regional domestic product (GRDP), inflation, and investment affect local tax revenue in Aceh Province. The analysis uses secondary time-series data from Statistics Indonesia (BPS) Aceh Province and the Directorate General of Fiscal Balance (DJPK) covering 2010–2024. Multiple linear regression was employed to test both the partial and joint effects of the independent variables on local tax revenue. The results indicate that GRDP and investment have positive, statistically significant effects on local tax revenue in Aceh, while inflation has a negative, statistically insignificant effect. Taken together, GRDP, inflation, and investment jointly influence local tax revenue. These findings suggest that strengthening regional economic activity and increasing investment are important levers for improving local tax revenue performance in Aceh. In addition, local governments should enhance tax administration, taxpayer compliance, and enforcement to ensure that gains in economic activity and investment translate more effectively into higher local tax receipts.

Determinasi kinerja ekonomi kawasan ekonomi khusus di Pulau Sumatera: Bukti dari empat KEK

Yessi Tamba, Puti Andiny, Miswar Miswar — Tue, 30 Dec 2025 00:00:00 +0700

This study aims to analyze the factors influencing the economic performance of Special Economic Zones (SEZs) on Sumatra Island, focusing on the Sei Mangkei SEZ, Galang Batang SEZ, Tanjung Kelayang SEZ, and Arun Lhokseumawe SEZ over the 2019–2023 period. The data are examined using a panel regression model with Gross Regional Domestic Product (GRDP) as the dependent variable and two independent variables: investment and the Labor Force Participation Rate (LFPR). The estimation results show that investment has a positive and statistically significant effect on GRDP, indicating that it is the primary driver of economic growth in Sumatra’s SEZs. In contrast, the LFPR does not have a statistically significant effect on GRDP during the study period. These findings suggest that improving the investment climate and increasing realized investment are critical to strengthening SEZ economic performance. A limitation of this study is that it covers only four SEZs; future research should expand the sample to include additional SEZs and incorporate other relevant variables to provide a more representative assessment of SEZ development on Sumatra.

How the stock market reacts on presidential inauguration and cabinet announcement? A case study of Indonesian mining and energy industries

Achmad Rizal, Imas Hasanah, U'um Munawaroh, Dwi Martutiningrum — Tue, 30 Dec 2025 00:00:00 +0700

This study investigates the stock market reaction of Indonesia’s mining and energy sectors, represented by LQ45 index constituents, toward the 2024 presidential inauguration and cabinet announcement. Using an event study methodology with an event window of t-7 to t+7, the research measures market responses through abnormal returns based on the market-adjusted model. Results show that the pre-inauguration period is characterized by predominantly negative Average Abnormal Returns (AAR) and Cumulative Abnormal Returns (CAR), indicating heightened uncertainty surrounding the incoming administration. On the inauguration day, both indicators turn positive, reflecting temporary optimism regarding political stability and policy continuity. However, the post-event window displays volatility, with sharp positive abnormal returns on certain days (e.g., t+3) but declines on others (e.g., t+2). Most t-statistics are statistically insignificant, suggesting that the inauguration did not generate strong or persistent market reactions.

Analisis tata kelola BUMDes Sahabat Kita dalam meningkatkan pendapatan asli Desa Solo

Tue, 30 Dec 2025 00:00:00 +0700

This study aims to analyze the governance of the Sahabat Kita Village-Owned Enterprise (BUMDes) as an instrument to increase the Village Original Revenue (PADes) in Solo Village, Nagekeo Regency. This study employs a qualitative approach, using data collection methods including in-depth interviews, observation, and documentation. The study involves the village head, BUMDes management, and village community members as informants. The data analysis technique employed is interactive analysis, as described by Miles and Huberman, which involves four stages: data collection, data reduction, data presentation, and conclusion. The research results indicate that, although the Village-Owned Enterprise (BUMDes) has managed five business units, weaknesses remain in planning, policies, and financial transparency, which hinder the optimization of village revenue. Several key success indicators, including promotions and sales of goods through social media, have improved; however, the main challenges lie in managerial aspects and regulatory compliance, which have not been fully achieved. These findings provide recommendations for village governments to strengthen their organizational capacity and improve transparency in managing BUMDes, thereby supporting increased Village Original Revenue.

Can financial literacy drive microentrepreneur success in digital economies?

Tue, 30 Dec 2025 00:00:00 +0700

Microentrepreneurship significantly contributes to economic development in resource-rich regions like East Kalimantan, yet faces challenges due to low financial literacy and limited digital adoption. Existing research highlights the importance of financial literacy for business success, but underexplores the role of digital financial literacy and regional contexts. This study investigates how financial literacy and digital financial literacy influence microentrepreneur success, with financial planning as a mediating factor. Using a quantitative approach with Partial Least Squares Structural Equation Modeling, data were collected from 160 microentrepreneurs in East Kalimantan. The findings reveal that financial literacy directly enhances business success, while digital financial literacy impacts success indirectly through financial planning. The model explains 60.8% of the variance in microentrepreneur success, emphasizing the critical role of structured financial strategies. These results suggest that integrating digital tools into financial education can foster sustainable business growth.

Inequality and poverty intensity as drivers of deprivation in Eastern Indonesia

Aji Priambodo — Tue, 30 Dec 2025 00:00:00 +0700

Poverty in Eastern Indonesia remains a persistent challenge that continues to hinder regional development. This study examines the influence of income inequality and poverty depth on the proportion of poor people across sixteen provinces during the 2024–2025 period. Drawing on panel data, the findings provide strong evidence that disparities in income distribution and the severity of poverty are closely linked to poverty dynamics in the region. The results indicate that an increase in the Gini Index contributes to a higher poverty rate, while a rise in the Poverty Depth Index also significantly adds to the number of poor individuals. Taken together, these factors serve as important and valid explanations for variations in poverty levels. The study highlights that poverty is not solely determined by economic growth, but is also shaped by uneven distribution of development outcomes and the vulnerability of low-income households. Therefore, effective poverty reduction strategies in Eastern Indonesia should combine policies promoting fairer income distribution with well-targeted social protection programs aimed at alleviating the burden on the most vulnerable groups.

Analysis determinant of poverty in the Barlingmascakeb regionalization: A panel data analysis

Muhammad Fahrur Rozi — Tue, 30 Dec 2025 00:00:00 +0700

This study aims to examine the impact of Economic Growth, Open Unemployment Rate, Regional Minimum Wage, and Human Development Index on poverty levels within the Barlingmascakeb Region (Banjarnegara, Purbalingga, Banyumas, Cilacap, and Kebumen) during the period 2019–2023. A quantitative approach is employed using panel data regression analysis with the Fixed Effect Model (FEM). The study relies on secondary data sourced from the Central Bureau of Statistics of Indonesia. The findings reveal that collectively, the independent variables significantly influence the dependent variable. However, in partial analysis, Economic Growth and Unemployment exhibit a positive but statistically insignificant effect on poverty. In contrast, the Regional Minimum Wage has a positive and significant influence on poverty levels. Meanwhile, the Human Development Index demonstrates a significant negative effect on poverty. Additionally, the coefficient of determination test indicates that the independent variables collectively account for a substantial proportion of the variation in poverty levels. The integration of local cultural elements into visual design aims to strengthen students’ cultural literacy, as recommended in local wisdom-based learning.

Determinan kedalaman kemiskinan di Kalimantan Barat: Peran pertumbuhan ekonomi dan partisipasi angkatan kerja perempuan

Fathia Mirda Ramadhani, Eko Supriyanto — Tue, 30 Dec 2025 00:00:00 +0700

This study examines the effects of economic growth and women’s labor force participation on the poverty depth index across districts/cities in West Kalimantan from 2018 to 2023. Using a descriptive quantitative approach, the study draws on secondary data from Indonesia’s Central Statistics Agency (BPS) and applies panel data regression. The findings indicate that economic growth is positively associated with poverty depth, suggesting that poor households have not fully shared in growth in West Kalimantan’s districts/cities and that poverty depth has therefore not been reduced. Meanwhile, women’s labor force participation shows a negative but insignificant relationship with poverty depth, implying that greater female participation tends to reduce poverty depth. However, the effect is not strong enough to be confirmed. Overall, the results highlight the need for more inclusive economic development policies, along with improved job quality and access for women, to help reduce poverty depth in West Kalimantan.

Potret implementasi CSR dalam konteks laporan keberlanjutan: Studi kasus PT Vale Indonesia di Sorowako

St. Nur’ Azizah Tompunu, Azizah Tompunu — Tue, 30 Dec 2025 00:00:00 +0700

This study examines the gap between sustainability narratives in PT Vale Indonesia’s 2024 Sustainability Report and the socio-environmental realities surrounding its CSR practices in Sorowako, Indonesia. The research employs a descriptive qualitative approach based on document study, comparing the company’s report with documents from civil society organizations. Legitimacy theory and stakeholder theory frame the analysis to interpret how the sustainability image is constructed and how stakeholder expectations are addressed. Findings reveal three key gaps: limited and non-representative community participation, minimal disclosure of unresolved ongoing environmental impacts, and CSR programs predominantly oriented toward activities rather than long-term socio-economic benefits for local communities. The results indicate that the company’s sustainability reporting remains largely affirmative and procedural, while external documents emphasize persistent ecological risks and unmet public expectations. This study recommends enhanced transparency of mining impact disclosures, broader and inclusive community engagement in CSR evaluation, and periodic independent assessments of sustainability outcomes.

Dinamika ketidakpastian pasar keuangan global terhadap stabilitas harga emas sebagai safe haven asset

Sasha Kamila Shaliha, Alfita Zahwarani, Ajeng Faizah Nijma Ilma, Dijan Rahajuni — Tue, 30 Dec 2025 00:00:00 +0700

The uncertainty in global financial markets led investors to favor safe, stable assets such as gold. Therefore, it was important to explain the factors driving global financial market uncertainty and their impact on gold price stability. This study analyzed the effects of global tensions, exchange rates, and interest rates on the stability of gold prices as a safe-haven asset in Indonesia. The Ordinary Least Squares (OLS) regression method was employed to measure the extent of these effects, and the model was validated using the normality test (Jarque-Bera), autocorrelation test, multicollinearity test, and heteroskedasticity test (White). Monthly data from January 2022 to December 2024 were used in the analysis and were found to be stationary. The study found that exchange rates and interest rates had a positive and significant effect on gold prices, while global tensions had a positive but insignificant effect. These findings were relevant to support investor decision-making and policy formulation, as well as to contribute to the academic literature in international finance.