Signifikan: Jurnal Ilmu Ekonomi
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Profit-Sharing and Economic Growth: The Indonesian Experience
Get PDFResearch Originality: The research\u27s originality investigated the causal relationship between profit-sharing schemes (saving and financing) and economic growth.Research Objectives: This study aimed to examine the effect of profit-sharing schemes in Islamic banking on Indonesia’s economic growth, both in the short and long term. Another objective was investigating the causal relationship between profit-sharing schemes and economic growth.Research Methods: This study used two models: the risk-sharing deposit (RSD) and the profit-and-loss-sharing financing (PLS). It used secondary data from the Financial Services Authority of the Republic of Indonesia, Bank Indonesia (BI), and the Central Bureau of Statistics of the Republic of Indonesia. It also used Nonlinear Autoregressive Distributed Lag (NARDL), Error Correction Model (ECM), and Granger Causality methods to analyze quarterly data for the 2009Q1-2022Q4 period.Empirical Results: The results showed that profit-sharing schemes did not have a significant effect on Indonesia\u27s economic growth in the short-term and long-term because the probability figure was more than 10%. This study obtained new findings, showing that the relationship between the RSD instrument and economic growth followed the feedback hypothesis. Implications: The results of this study had implications for Islamic banking efforts to increase efficiency, improve regulations, and reallocate financing.JEL Classification: G21, O4
Program Keluarga Harapan and Senior Secondary Out-of-School Rates
Get PDFResearch 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, I3
Banking Selection Criteria among Millennials: Insights from Islamic and Conventional Banks
Get PDFThe increasing number of millennials presents an enticing market opportunity for business. Understanding their preferences is the key to attracting their sympathy and interest. Thus, this study aims to analyze banking selection criteria for Islamic and conventional banks among the young generation. A group of students represents the millennial group in this study. Data is collected through questionnaire instruments, and factor analysis is employed to capture millennials\u27 preference for banking. The finding highlights a relatively lower level of knowledge and awareness among millennials regarding the products and services offered by Islamic banks. Interestingly, among them, an inverse relationship exists between the criteria for selecting Islamic and conventional banks. Factors associated with banking preference among millennials are managerial performance and service quality, religiosity, recommendations, and finances. This study provides valuable insights for banking industry players, enabling them to understand millennial banking preferences better and formulate suitable marketing strategies.JEL Classification: G21, G32, D81How to Cite:Rama, A., & Wiranata, S. (2023). Banking Selection among Millennials: Insights from Islamic and Conventional Banks. Signifikan: Jurnal Ilmu Ekonomi, 12(2), 341-354. https://doi.org/10.15408/sjie.v12i2.35104
Welfare Tendency Probability: A Study on Poor Households in Indonesia
Get PDFResearch Originality: Poverty is an important issue in the discussion of economic development. The problem of household poverty in Indonesia is not enough to be analyzed at the macro level; it should also be analyzed in microeconomic settings. Research Objectives: This study uses secondary data sourced from the results of the Indonesian Family Life Survey (IFLS) surveys in 2007 and 2014 to determine the trends in household characteristics (social, economic, and demographic) and their influence on the level of welfare of poor households, the share of household spending inequality, and poverty alleviation strategies through a household-based policy approach in Indonesia.Research Methods: Meanwhile, the research method used is Multinomial Logistic Regression.Empirical Results: The results of the study found that the education level of the head of the household, place of residence, and household size contributed to the value of the opportunity of the household welfare position in each category. Meanwhile, Javanese have the highest level of inequality in terms of ethnic expenditure distribution and the lowest in terms of welfare.Implications: This study implies that the condition of the head of the family dramatically influences welfare at the household level.JEL Classification: C49, O11, Q01, R5
Determinants of Paying Zakat Through E-Zakat in Tarakan
Get PDFResearch 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, Q5
Unintended Beneficiaries: Examining 3 kg LPG Consumption Among Upper-Middle-Class Households in Bali
Get PDFResearch Originality: This study investigates the consumption patterns and awareness of 3 kg LPG subsidy policies among upper-middle-class households in Bali, a relatively unexplored area in energy subsidies and consumer behavior.Research Objectives: To examine the effects of income, price, and practicality on awareness and consumption of 3 kg LPG and evaluate whether awareness mediates these relationships.Research Methods: A mixed-methods approach combines quantitative survey data with qualitative interview insights. Structural Equation Modeling (SEM) analyzes quantitative relationships, while qualitative findings provide contextual depth.Empirical Results: Income does not affect awareness, while price and practicality had a significant positive impact. However, income, price, and practicality had adverse but insignificant effects on 3 kg LPG consumption. Awareness did not mediate the relationships between income, price, practicality, and consumption.Implications: Policymakers should improve subsidy distribution, strengthen public education campaigns, and promote alternatives like induction stoves to reduce dependence on subsidized LPG. JEL Classification: D12, H23, L95, Q41, Q4
Education and Mediated Effects on Economic Development of Indonesia
Get PDFResearch Originality: This research lies in its comprehensive approach. It utilizes Structural Equation Modeling (SEM) to analyze education levels\u27 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, J6
Technology Transfer of Rural Entrepreneurship Digitization to Regional Economic Growth
Get PDFResearch 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\u27s 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\u27s potential and the SSE model could provide added value for the community\u27s welfare.JEL Classification: O14, O47, P2
Socioeconomic and Demographic Causes of Crime Reporting in Indonesia
Get PDFStudies on the nexus between socioeconomic and demographic factors and crime reporting are still limited in Indonesia. Therefore, this study aimed to investigate the socioeconomic and demographic causes of crime reporting in Indonesia using data from the results of the 2021 National Socioeconomic Survey. The data were analyzed using a binary logistic regression model. The unit of analysis was the population aged 15 years and older. The dependent variable was whether or not someone who experienced a crime reported it to the police. The independent variables were socioeconomic and demographic factors. The results of the study showed that a lower probability of reporting crime to the police was associated with being female, being younger, having higher educational attainment, living in urban areas, living in Java island, and working, implying the need to improve information, education, and communication on crime reporting among these groups.JEL Classification: A12, J19, K00, K39How to Cite:Rajagukguk, W. (2023). Socioeconomic and Demographic Causes of Crime Reporting in Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 12(2), 413-424. https://doi.org/10.15408/sjie.v12i2.33436
Determinants of Foreign Investment in Indonesia Post-Pandemic
No full textResearch 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, O4