• 대한가정학회지
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• 제48권9호
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• pp.89-102
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• 2010

The purpose of this research was to elucidate the relevance of the area of home economics in practical arts (technology & home economics) curriculum to green growth education, finding applicable cases of green growth education content in the field of home economics education. Given this base, we performed a survey with people who majored in home economics education and elementary school teachers on how green growth education related to their education. We studied applied cases and performed a survey by open-ended questions that extracts the green growth education content. In synthesizing the results of these studies so far, we have concluded that home economics education is much related to green growth education, and that with a change of people's conceptions when relating school life to household life, home economics can be a very useful subject that can lead to the practice of the green growth education.

• The Journal of Asian Finance, Economics and Business
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• 제8권10호
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• pp.249-257
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• 2021

Industrial agglomeration policy is a strategy that is expected to accelerate economic growth to transform an impoverished region into a prosperous one. However, industrial agglomeration also has the potential to exacerbate development inequality due to the concentration of economic development activities in certain areas. Therefore, this study aims to investigate what strategies are best to minimize the adverse effects of industrial agglomeration. This study uses econometric analysis with panel data covering 38 districts/cities in East Java during the 2011-2019 period. The results showed that the combination of industrial agglomeration policies coupled with accelerated sectoral growth, hard infrastructure development, and soft infrastructure provided the best policy outcome, improving regional inequality and accelerating economic growth in East Java. Based on the analysis, we find that East Java's economic growth characteristics are convergent but relatively long. Therefore, the East Java economic development policy during 2010-2019 should be reviewed due to the relatively long convergence period. Furthermore, this study also found that industrial agglomeration slows down the convergence and economic growth of East Java. In the future, the deployment of Industrial Development Centers (PPI) outside the existing eight districts/cities is needed to accelerate the spread of economic activity in East Java.

• The Journal of Asian Finance, Economics and Business
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• 제8권7호
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• pp.43-54
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• 2021

Human capital and innovation capacities are essential elements and one of the sustainable approaches to driving economic growth. However, there is debate among scholars concerning these two factors in fostering economic growth. This study investigates the relationships between human capital and innovation capacity and economic growth in selected ASEAN countries, namely, Malaysia, Thailand, and Indonesia. Economists widely discussed the interrelation of human capital and innovation. A large body of literature stated that human capital is an essential factor and engine of economic growth. Innovation has become key in transforming the economic development of developing countries. We analyze human capital (HC) and innovation capacity (INC) using static panel data analysis. The data analysis shows that the fixed-effect model is the best model in this study. Further, human capital (HC) has a significant positive relationship with economic growth. Meanwhile, innovation capacity has no significant relationship with economic growth. We also found that Malaysia's coefficient of human capital and innovation capacity is higher and more efficient than in Thailand and Indonesia. In conclusion, human capital and innovation capacity are crucial elements for measuring economic growth. Skilled human capital contributes significantly to the economic growth and economic development of a nation.

• The Journal of Asian Finance, Economics and Business
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• 제8권3호
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• pp.79-90
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• 2021

This study aims to investigate the relationship between urbanization, economic growth, energy consumption, and CO2 emissions in Indonesia. The data used in the study are time-series data for the period 1985-2017; the data utilized are sourced from World Development Indicators obtained on the World Bank database. The method uses a quantitative approach that applies the vector error correction model based on the Granger causality test. The empirical results reveal that, in the short run, there is evidence that urbanization and energy consumption can causes CO2 emissions, and they also prove that urbanization can cause energy consumption. Also, other findings prove the existence of long-run relationships flowing from energy consumption, economic growth, and CO2 emissions toward urbanization, as well as the existence of the relationship flowing from urbanization, economic growth, and CO2 emissions towards energy consumption. The results of testing the relationship between economic growth and CO2 emissions reveal that the environmental Kuznets curve hypothesis is proven in Indonesia. Thus, policies are needed to limit the impact of urbanization through high awareness-raising to maintain environmental quality and greater use of energy. Also, energy conservation policies are needed in all sectors, especially the electricity, industry, and transportation sectors.

• The Journal of Asian Finance, Economics and Business
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• 제3권2호
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• pp.5-11
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• 2016

This study investigates the impact of Malaysia's capital market and other key determinants on Economic Growth from the period of 1988 to 2012. The key determinants studied are foreign direct investment and real interest rate. This study also examines the long run and short run relationship between the economic growth and capital market, foreign direct investment, and real interest rate by using bound testing cointegration of Autoregressive Distributed Lag (ARDL) and Error Correction Model (ECM) version of ARDL model. The empirical results of the study suggest that there is long- run cointegration among the capital market, foreign direct investment, real Interest rate and economic growth. The result also suggests that capital market and real interest rate have positive impact on economic growth in the short run and long run. Foreign direct investment does not show positive impact on economic growth in the short run but it does in the long run.

• The Journal of Asian Finance, Economics and Business
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• 제8권1호
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• pp.767-780
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• 2021

The purpose of this research is to analyze the effect of financial elements (asset growth, liability growth, equity growth, revenue growth, and profit growth) on stock price performance and to analyze the growth of Corporate Social Responsibility (CSR) costs as a moderating effect. The technique analysis used is regression analysis. Samples in this analysis are manufacturing firms listed on the Indonesian Stock Exchange (IDX) for the period 2014-2018. The use of regression models for hypothesis testing must fulfill several applicable assumptions such as Normality Test, Heteroscedasticity Test, Multicollinearity Test, Autocorrelation Test, Model Fit Test, Determination Coefficient Test, and Hypothesis Test. Data analysis used two research models, namely model 1 and model 2. Model 1 is without the moderating variable, and model 2 is with the moderating variable, that is, CSR cost growth. Based on the result of the regression analysis, it can be inferred that the asset, revenue, and profit growth have a positive impact on stock price results. Liabilities and equity growth do not affect stock price performance. Operating expense growth has a significant effect on price performance. CSR cost growth can moderate the effect of growth in financial statement elements on stock price performance but is not significant.

• The Journal of Asian Finance, Economics and Business
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• 제8권5호
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• pp.595-605
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• 2021

The objectives of this research are to see if the phenomena of "demand following" and "supply leading" exist in the business cycle, as well as to look at how liquidity and output react to changes in credit risk, investment-saving gap, inflation, exchange rate, and growth rate of real national output. Employing quarterly data of Maluku and North Maluku (2008-2019), this study utilizes VAR/VECM for inferential analysis. This research found three important findings. First, liquidity and output growth influenced each other in the long run. Second, the determinants of output growth for Maluku are liquidity, investment-saving gap, and inflation, while the determinants of liquidity are output-growth, the gap of investment-saving, and inflation. Third, the determinants of output growth for North Maluku are liquidity, credit risk, investment-saving gap, inflation, exchange rate, and the national output-growth, while the determinants of liquidity are output-growth, credit risk, investment-saving gap, inflation, exchange rate, and national output-growth. The findings of this study supported the hypothesis of demand following and supply leading theory in the Maluku and North Maluku business cycles. This study concludes that economic development would improve if supported by liquidity adequacy through increased deposit growth.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.643-651
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• 2021

This study aims to determine the response of regional economic growth to the financial performance of regional economies in regard to the liquidity conditions, saving-investment gaps, trade openness, inflation, as well as the national economic growth. The basic logic theory of research uses the principles of open economics and financial intermediary systems. The data used in this study are secondary data, and the form of data is a quarterly time series for the period from 2008 to 2019. The data were obtained from various publications, such as the Central Statistics Agency (CSA), Regional Financial Economics Statistics (RFES), Indonesian Banking Statistics (IBS), and the Financial Services Authority (FSA). Data processing was done through VAR/VECM analysis; short-term and long-term equilibrium analyses were carried out. The results of the analysis illustrate that regional economic growth and the conditions of liquidity, saving-investment gaps, trade openness, inflation, and national economic growth are related and lead to significant impact variations in the provinces of Papua and West Papua. In conclusion, the findings of this research support the leading supply hypothesis and reformulate the strategy and policy of economic development, bearing in mind that there are still many underdeveloped districts in these two provinces.

• The Journal of Asian Finance, Economics and Business
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• 제8권4호
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• pp.11-19
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• 2021

This study aims to analyze the causality relationship between sectoral stock markets (agricultural, financial, industrial, and mining sectors) and economic growth in the short and long term as well as to analyze whether it has similar types or not. The data used is quarterly time-series data (first quarter 2009 to fourth 2019). To determine the causality relationship, this study conducts a variable and multivariate causality test. The results of the varying granger causality test show that there is only a one-way relationship, where the economic growth of the agriculture sector affects its shares. A one-way relationship also occurs in stocks of the industrial sector, which has an influence on economic growth. The multivariate causality test shows that the economic growth of the agricultural sector has a two-way causality relationship, and it also exists between the industrial sector and the financial sector stock markets. The two-way causality relationship between the stock market and sectoral economic growth is a convergence towards long-term equilibrium. The findings of this study suggest that the government through the Financial Services Authority and the Indonesia Stock Exchange have to maintain stability in the stock market as a supporter of the national economy.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.147-156
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• 2020

This study aims to analyze the effect of public spending, macroeconomic variables, and BPK opinion on economic growth. This study is motivated by the inequality of fiscal policy effectiveness between regions in Indonesia in influencing the economic growth of different regions, the ability of local governments to attract foreign investors, and the transparency of regional financial management in designing development programs to encourage regional economic growth. The analytical tool in this study is a dynamic panel regression model with data from 2008 to 2017. The results of this study show that, in the short term, the population affects regional economic growth, while in the long term, the economic growth is affected by the number of people, the poor, General Allocation Fund, health budget, foreign investment and BPK opinion. The findings of this study are that in the long term the General Allocation Fund becomes an obstacle to economic growth, this is because the general allocation funds is widely used to cover the lack of funds for routine regional activities, thereby reducing activities for development programs. Another research finding is that fiscal policies carried out by local governments make a small and ineffective contribution to promoting economic growth.