Wiga : Jurnal Penelitian Ilmu Ekonomi

Economic Potential Study on the Agricultural Sector as a Leading Sector in Central Java Province, Indonesia

Dinar Melani Hutajulu — 2025-03-28

The agricultural sector is the third-largest contributor to Central Java’s GRDP and continues to grow annually. Despite this, labor absorption in agriculture remains low, and the declining farmer’s exchange rate indicates worsening farmer welfare. This study aims to analyze the economic base, growth potential, and sectoral mapping of agriculture in Central Java. The research employs several analytical tools including Location Quotient (LQ), Growth Ratio Model (GRM), Overlay Analysis, and the BCG Matrix. Results show that sub-sectors such as food crops, horticulture, livestock, and agricultural and hunting services are the economic base of the region, maintaining their relevance both before 2019 and after 2022 the COVID-19 pandemic. Among them, horticulture demonstrates strong growth potential, while food crops, livestock, and agricultural services also show opportunities for development. The BCG Matrix further highlights horticultural crops and agricultural services as the primary drivers of growth. These findings suggest that targeted government support and policy prioritization toward these key sub-sectors are essential for sustaining agricultural advancement and improving farmer welfare in the region.

The Effect of Socio-Economic Conditions on the Happiness Index: ASEAN-8 Study 2015-2021

Amelia Metasari — 2025-03-28

People’s well-being is a core goal of national development and can be assessed through the happiness index, which reflects overall quality of life. In the face of increasingly complex development challenges across ASEAN, identifying the determinants of happiness is crucial for shaping effective, targeted policies. This study analyzes the impact of various socio-economic and environmental factors—namely Gross Domestic Product (GDP) per capita, labor force, government budgets for education and health, Consumer Price Index (CPI), Corruption Perception Index (CPI), and greenhouse gas emissions per capita—on the happiness index of eight ASEAN countries during 2015–2021. Using panel data analysis, the Fixed Effect Model (FEM) was identified as the best-fit model. The findings reveal that GDP per capita and Corruption Perception Index have a significant negative effect on the happiness index, while education spending and CPI exert a positive influence. Meanwhile, labor force, health budget, and greenhouse gas emissions show no significant impact. Among the observed countries, Singapore ranks highest in happiness, while Cambodia ranks lowest. These results suggest that beyond traditional economic indicators, governance quality—reflected in effective budget allocation and efforts to manage inflation and corruption—plays a vital role in fostering happiness in the ASEAN region.

Factors that Influence Organizational Performance in Manufacturing Companies in Batam City

Dhita Hafizha Asri — 2025-03-28

This study aims to analyze the factors affecting Organizational Performance in manufacturing companies in Batam City, focusing on the mediating roles of Organizational Culture, Motivation, Strategic Planning, Challenges, and Program Performance. The research addresses performance issues frequently encountered in industrial sectors, particularly within competitive manufacturing environments. A total of 359 respondents, consisting of employees from a manufacturing company in Batam, were selected using the sampling technique proposed by Hair et al. Data analysis was conducted using SmartPLS to evaluate relationships between variables. The results indicate that Motivation significantly influences Organizational Performance, although the high path coefficient is accompanied by relatively small p-values. Strategic Planning also contributes positively to performance but with a lower effect. Conversely, Challenges were found to have a strongly negative impact on Organizational Performance, highlighting the critical need for effective management of organizational obstacles. These findings suggest that enhancing motivation and strategic planning, while proactively addressing challenges, can improve overall organizational outcomes. The study contributes valuable insights for company leaders and policymakers seeking to optimize performance in dynamic manufacturing settings.

The Analysis of Local Regression of Industrial Agglomeration on the Economic Growth in Indonesia

Edy Santoso — 2025-03-28

Economic growth is caused by various structural factors, including agglomeration industries and regional spending. This study aims to analyze the influence of industrial agglomeration on economic growth in Indonesia using the Geographically Weighted Panel Regression (GWPR) method. This method analyzes the spatially and temporally varied relationships between dependent and independent variables. This study considers spatial variation to investigate the variability of the economic growth model of each province in Indonesia. This study uses panel data with 34 provinces in Indonesia. Time range from 2017 to 2022. The results of the analysis show that the impact of industrial agglomeration on economic growth varies, with industrial agglomeration having a negative and significant effect on economic growth. Regional spending has a positive and significant influence on economic growth. These findings highlight the importance of policies adapted to regional conditions to maximize the benefits of industrial agglomeration and regional expenditure allocation in supporting sustainable economic growth in various provinces. This research provides important insights for policy makers and academics in designing more effective development strategies based on in-depth spatial analysis.

Strategy Economic Development Creative Based on BUMDes Change Management: Inclusive Creative Economy Change Management of Panggok Market

Dina Prasetyaningrum — 2025-03-28

One thing public organizations cannot escape is organizational transformation. Nevertheless, there is sometimes opposition to the changes that take place rather than positive reception. To improve the economic welfare of the Cilacap community, the Village Owned Enterprise (BUMDES) Slarang Village, Cilacap and other public organizations must plan organizational changes based on community interests. This includes communication with the youth organization of Slarang Village residents and a vision, mission, strategy, and goals. With the participation of citizens and cooperation in human relations, creative economic programs do not cause negative resistance impacts on the environment. This research was conducted using qualitative research analysis tests. Qualitative research is a descriptive research method and uses analysis to explain a phenomenon. Data collected in qualitative research are in the form of written and spoken words, such as ethnography, document studies, natural observations, and phenomenology and are supported by through literature studies of journal publications and books. Research results show that change management is aimed at for give business solutions which required in success in an organized and methodical manner, through managing the impact of change on those involved. As in Panggok Market, it is a culinary tourism that is built focusing on change management of economic development based on creativity has been built with creativity both from its place, its food or the people who sell it. Panggok Market was established with the aim of improving the welfare of the surrounding community in accordance with the vision and mission of Panggok Market and preserving traditional Central Javanese food. Panggok market has inspired other culinary villages that follow the railroad tracks, which have proven to be effective in improving the economy of residents.

Effectiveness of RSI and Bollinger Bands in Identifying Buy and Sell Signals

Nur Fadiyah Ifa Putri Irwansyah — 2025-03-28

This research compares the accuracy levels of the RSI indicator and Bollinger Bands and evaluates their combination in determining buy and sell signals for stocks in IDXMESBUMN17. This index comprises 17 State-Owned Enterprises (SOEs) that comply with sharia principles. The study population includes all companies listed in IDXMESBUMN17, with the sample selected through purposive sampling based on three criteria, resulting in seven issuers: ANTM, ELSA, PTPP, SMBR, TLKM, WEGE, and WTON. Data was collected using documentation techniques, capturing buy and sell movements from chart intersections generated between January and December 2023 using Profits Anywhere software. The Mann-Whitney test was employed for data analysis, revealing a significant difference in accuracy levels. The RSI indicator achieved an accuracy of 65.6%, Bollinger Bands 70.2%, and their combination 87.5%. These findings indicate that combining RSI and Bollinger Bands provides a more accurate method for identifying buy and sell signals than using either indicator alone. This suggests that investors can enhance their trading decisions by integrating both indicators to optimize stock market strategies.

Analysis of the Effectiveness of RSI and MACD Indicators in Addressing Stock Price Volatility

Melda Melda — 2025-03-28

This research aims to compare the accuracy levels of the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators in predicting stock volatility on the LQ45 index during the period from August 1, 2023, to July 31, 2024. The importance of this research is that it can provide research on the accuracy of the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators, which can be a reference for capital market practitioners and stock investors in making more accurate and data-based investment decisions. The research method employs a comparative quantitative approach using secondary data in the form of stock closing prices. The analysis is conducted by calculating the accuracy of signals from both indicators using the accuracy formula and the Mann-Whitney test to determine significant comparisons. The results of this study indicate that RSI has an accuracy level of 97% with 31 successful signals out of 32 signals, while MACD has an accuracy level of 52% with 86 successful signals out of 166 signals. Statistical testing shows no significant difference between the two indicators (p = 0.522). Although RSI is more accurate, MACD is superior in generating returns in the long-term trend due to its sensitivity to small changes. This study concludes that RSI is more suitable for oversold and overbought market conditions, while MACD is effective for identifying momentum and long-term volatility direction. Future research suggestions could include combining other technical indicators for a more comprehensive analysis. These findings provide practical guidance for investors in selecting appropriate technical strategies for investment decision-making.

Sustainability Challenge Traditional Market in the Face of Digital market in East Java

Rena Febrita Sarie — 2025-03-28

The purpose of this study is to formulate a strategy model for Sustainability Challenge Traditional Market in the Face of Digital Market in East Java. The problem of the existence of digital markets due to the development of internet technology has changed consumer shopping behavior from shopping offline or traditionally to shopping online. As a result, many traditional markets that sell their products offline are unable to compete and close their businesses. The problems are first, How dynamics of change shopping behavior in East Java. Second, How does digital market influence the traditional market in East Java. Third, What are the sustainability strategies traditional market in the face of digital market in East Java. The result of the study that there are five strategies for traditional market in the face of digital market. There are Service Excellent, Morality Value, Customer Database, Adaptation, Digital Literacy. This research uses qualitative approach, by interviewed key informant using snowball sampling technique. This informants of study were 49 people, with the criteria 18 people traditional market ‘s customers, 18 people online shoppers and 12 people sellers in traditional market, and one person as staffing in the traditional market.

Analysis of Consumer Buying Interest in Sanitary Napkin Products that are Green Products

Nur Jannah — 2025-03-28

Environmentally friendly products are designed and produced without causing adverse environmental impacts, including the use of sustainable materials. This is particularly important for sanitary napkin products, which serve as vital support for women during menstruation. For Generation Z women, sanitary napkins are not only viewed as protective products but also as a reflection of environmental values that enhance self-confidence in social interactions. This study aims to examine the factors influencing Generation Z’s purchase intention of green sanitary napkin products, focusing on the role of environmental values (environmental awareness, consumption value, and eco-label). This quantitative research employed a purposive sampling technique involving 100 female respondents from Generation Z in Malang who have experience using eco-friendly sanitary napkin products. The measurement of research variables was conducted using validated and reliable instruments, with reliability confirmed by Cronbach's Alpha and Composite Reliability (CR) tests, and validity tested through convergent and discriminant validity. Data were analyzed using the Structural Equation Modeling–Partial Least Squares (SEM-PLS) method following the stages of model measurement (outer model), structural model (inner model), and hypothesis testing. The results show that eco-labels do not significantly influence purchase intention, while environmental awareness and consumption value have a significant effect. This indicates that although Generation Z in Malang is aware of the importance of environmental protection, eco-labels are not the main factor in their purchasing decisions. Instead, their understanding of the value and benefits of environmentally friendly products plays a more dominant role.