JURNAL EKONOMI DAN KEBIJAKAN PEMBANGUNAN

Determinants of Financial Distress in Property and Real Estate Companies Listed on The Indonesian Stock Exchange

2025-01-03T12:05:07+07:00

The purpose of this study is to analyze financial performance of property and real estate companies before and during the Covid-19 pandemic. Next is to analyze financial distress by using the Zmijewski calculation methods and to analyze the factors of financial distress. The populations in this study are property and real estate companies listed on the IDX in year 2018 to 2022. Based on purposive sampling methods, samples obtained are 15 companies in 5 years, so obtained 300 observations. The descriptive methods are used to analyze financial performance, and to analyze Zmijewski’s financial distress using the panel data regression. The result of descriptive analysis show that before the pandemic there were 15 companies in a healthy condition but during the pandemic there was one company experiencing financial distress namely MDLN, and based on the direction of financial distress trends, there are three groups of companies that tend to worsen, improve, and stagnate. The results of data panel regression showed that profitability ratio (ROE), liquidity ratio (CR), and leverage ratio (DER) have a significant value to predict financial distress, whilst activity ratio (TATO), sales growth, interest rate (IR) and exchange rate (ER) which not significant. The trend of financial distress (that are worsening, improving and stagnant), can be used by companies or investors as an early warning system in predicting financial distress in property and real estate companies.

The Impact of Information and Communication Technology (ICT) Development on Youth Unemployment in Indonesia

2025-01-03T12:06:03+07:00

The rapid advancement of information and communication technologies (ICT) is anticipated to effectively solve various economic issues including unemployment in developing countries. However, unemployment in Indonesia has fluctuation and is predominantly affecting the youth population. Additionally, researchers hold different views regarding the impact of ICT development on youth unemployment. Some researchers suggest a positive relationship between ICT and youth unemployment, while others argue that ICT can have detrimental effects on job opportunities and potentially increase youth unemployment. This study aims to describe ICT development and analyze the influence of ICT development on youth unemployment in Indonesia. This research used a dynamic panel methodology and utilizes two indicators of ICT development: mobile phone users and internet users across 33 provinces in Indonesia at 2010-2021. The results of this estimation indicate that mobile phone users and internet users do not significantly impact the youth unemployment model. The variables inflation, foreign and domestic investment and the lagged unemployment have a significant effect on youth enemployment

Drivers and Cluster Analysis of Happiness in Indonesia

2025-01-03T12:05:26+07:00

Welfare is one of the goals of state development. Measuring the success of a country's development often uses monetary measures, such as gross domestic product (GDP). However, GDP tends to ignore aspects that contribute to a person's quality of life and happiness. This thesis focuses on examining the factors driving happiness in Indonesia and categorizing the provinces into categories that have similar characteristics so that policies can be more targeted and efficient. The Indonesian happiness index resulting from the 2021 happiness survey was analyzed using the multiple linear regression statistical method. The results show that the Gini coefficient has a negative effect on happiness, and GDP per capita has a positive effect. This thesis further categorizes 34 provinces in Indonesia into 3 categories of high, low, and medium levels of the value of each indicator. From these results, the government can focus policies related to inequality between regions and GDP per capita, based on the characteristics of each cluster.

Impact of Investment on Inclusive Economic Development in Indonesia

2025-01-03T12:04:48+07:00

The achievement of inclusive economic development in Indonesia is closely related to the government's fiscal capacity. Until now, the government budget's ability to realize inclusive economic development is still limited. Alternatively, the government can use funds sourced from investment to increase the achievement of inclusive economic development in Indonesia. The aim of this research is to measure the magnitude of the influence of the size of this investment on the level of inclusive economic development in Indonesia. This influence is then explained more specifically by paying attention to the regional classification between Western and Eastern Indonesia. In contrast to other research, this research on inclusive economic development is interpreted more comprehensively and the analysis is carried out taking into account regional heterogeneity. This research uses a quantitative approach with panel data regression analysis. The results of this research show that there is a significant and positive influence from the increase in investment value on the level of inclusive economic development. More specifically, this influence is clearly visible for Eastern Indonesia. This research also shows that investment has a more positive influence on achieving inclusive economic development compared to central government balancing funds to regions (general allocation funds and special allocation funds).

The Effect of Rice Self-Sufficiency on Farmers' Welfare in Indonesia: A Dynamic Panel Data Approach

2025-01-03T12:05:44+07:00

For decades, Indonesia has implemented a rice self-sufficiency policy aimed at increasing domestic rice production and reducing imports. However, claiming that rice self-sufficiency will benefit farmers is questionable because farmers' characteristics have not changed significantly over the past 50 years. This study aims to evaluate the effect of achieving rice self-sufficiency on farmers' welfare. The difference-GMM method of estimation, which accommodates potential endogeneity issues, is the best choice for explaining the model. Regression results show that the only significant variable in the model is the price producer variable. However, increasing the price cannot easily occur due to the asymmetric characteristics and inefficiencies in the rice supply chain. Therefore, government policy is insufficient to improve farmers' welfare. Furthermore, rice cultivation appears to benefit middlemen, wholesalers, and retailers, rather than small farmers. The ratio between trade margins and farmers' share in rice markets is always 30% for farmers and 70% for margin traders for many year. This result is also supported by the statistically insignificant level of rice self-sufficiency in improving the farmers' terms of trade in the food crop sub-sector.. Increasing efficiency and productivity through subsidies and technology adoption by farmers become crucial solutions to improve farmer welfare.