Scholarly Works - Economics

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https://hdl.handle.net/20.500.14576/30

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    Internet users and macroeconomic factors’ impact on Indonesia-Malaysia islamic finance index
    (Universitas Airlangga, 2024-06-30) Milhatun Nisa'; Muhammad Ismail Sunni
    Introduction: The rise of the internet has revolutionized the way businesses operate and people interact globally, without exception, including Islamic finance. This paper aims to investigate whether or not the level of internet users, GDP per capita, exchange rate, labor force, and poverty are the determinants of the increase of the Islamic Finance Index (IFI) in Indonesia and Malaysia. Methods: This research is a quantitative study that employs a balance panel regression and causality tests for the period 2013 to 2020 quarterly. Results: It is empirically found that there was a relationship between internet users and other macroeconomic variables on IFI in the long term, which was significant. However, only the labor force and exchange rate have significantly and negatively impacted IFI. While the remaining variables were expected to be positive, poverty uniquely did not contribute to the performance of Islamic finance. Furthermore, the empirical findings portrayed that all determinants influenced the endogenous variable, but not the contrary. Conclusion and suggestion: By analyzing and delving into the link between internet users, macroeocnomic factors and Islamic finance, this study fills the literature gap which will be a guide for both policymakers and academies to grasp what dominant variables to prioritize for the acceleration of Islamic finance rectification in both Indonesia and Malaysia, aligned with the increasing rate and impact of internet users.
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    Rectifying the downsides pension fund with the critical analysis of triangle justice ecosystem : a comparative case study in Indonesia and Malaysia
    (Springer Nature Switzerland, 2023-07-27) Fahmi Alamil Huda
    The objective of this chapter is to redesign the Indonesian pension fund’s business model, management system, and new strategies to balance adequate profits, affordability, and sustainable programs. Consider the Malaysian pension system and adapt the INTERDAP application used by PT. Angkasa Pura II. Through this qualitative case study, we applied the foundations of the Triangle Sharia Justice Ecosystem (TSJE); Sharia, digitized the system, and supported green investment in the long run. By modeling the business strategy, facilitating the business model and supplier relationship management, and creating mutually beneficial management among stakeholders, the study found that Malaysia’s pension system has an investment purpose. Indonesia, on the other hand, provides pension loans only based on previously agreed cumulative contributions. Malaysia encourages people across the country to save on severance funds. The pension system is still managed conventionally. Malaysia requires a pension contribution of 23% of the employee’s base salary, while Indonesia requires only 3%. This will affect the contribution of pension funds to the GDP. Malaysia’s pension fund accounts for 60% of GDP. Besides, Indonesia is at only 6.03%. Another view is, to become a developed country, pension funds need to reach 60% of GDP by 2045 because 42% of the total supply of funds in the infrastructure sector comes from pension funds. The practical implications of this study are access to information, security, and transparency in the management of pension funds through a digital system supervised by the Sharia Regulator (BPS) and the Indonesian government’s efforts to realize that supports the green economy. This study integrates the foundations of the TSJE about pension funds management. The limitation of the research study is that more detailed studies and methods are needed to analyze this study. It is expected that this TSJE system will be applied further.
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    Response of fiscal efforts to oil price dynamics
    (Elsevier, 2023-02-20) Attahir Babaji Abubakar; Mansur Muhammad; Samuel Mensah
    This study investigates the response of Nigeria's government balance to oil price dynamics. The Linear and Non-Linear Autoregressive Distributed Lag models are employed for analysis. The findings of the study reveal that while the long run response of government balance to oil price dynamics is symmetric, the short run response is asymmetric. In the long run, an increase in oil price improves the government's fiscal position, signifying an increase in fiscal effort. Interestingly, while positive oil price shocks lead to a short run worsening of the government's fiscal position, indicating poor fiscal efforts, negative oil price shocks influence an improvement of government fiscal efforts. Further, although the operationalisation of fiscal rules worsens the government's fiscal position in the short run, it has a beneficial long run effect. These findings have far-reaching policy implications.
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    The effect of halal brand awareness on purchase intention in Indonesia : the mediating role of attitude
    (Cogent OA, 2023-02-02) Abdul Aziz Nugraha Pratama; Hamidi, M. Luthfi; Edi Cahyono
    This research investigated the relationships between the awareness of halal-based products and services and people’s intention to purchase. Also, it explored behavioral attitude as a mediating variable in influencing purchase intention. Data was collected through an online survey with 162 validated respondents. The PLS-SEM method was applied to test four hypotheses connecting the relationship between brand, attitude, and intention variables. The research findings showed that all hypotheses were confirmed, including the mediating role of attitude. This means that halal industry players should respond to consumers shifting from conventional to halal lifestyle orientation, while the regulator requires to provide incentives for promoting a greater halal ecosystem. The originality of this research is that this study strengthened previous research on the role of consumers’ attitudes that positively affect the intention to purchase halal products and services. This study revealed that consumers expand their consumption of traditional halal products and services (food, Islamic banking, fashion) to lifestyle (shopping) and well-being (fitness and swimming pool).