What is the Impact of Infrastructure, Information and Communication Technology (ICT), and Economic Stability on Central Java's Economic Growth?

Authors

  • Pardomuan Robinson Sihombing Badan Pusat Statistik, Indonesia https://orcid.org/0000-0002-1597-9077
  • Ade Marsinta Arsani Badan Pusat Statistik, Indonesia
  • Dyah Purwanti Politeknik Keuangan Negara Sekolah Tinggi Akuntansi Negara (STAN), Indonesia
  • Sigit Budiantoro Politeknik Keuangan Negara Sekolah Tinggi Akuntansi Negara (STAN), Indonesia

DOI:

https://doi.org/10.53341/jgpi.v3i1.91

Keywords:

economic growth, economic stability, information technology, infrastructure

Abstract

This study seeks to examine the impact of Infrastructure, ICT, and Economic Stability on the economic growth rate in Central Java. The data for this research is procured from authoritative sources, namely the Statistics Indonesia (Indonesian: Badan Pusat Statistik, BPS, lit. 'Central Agency on Statistics') and the National Research and Innovation Agency (Indonesian: Badan Riset dan Inovasi Nasional, BRIN). To analyze the data, a multiple linear regression method was employed, utilizing cross-sectional data. The findings reveal that, when considered collectively, all the variables significantly influence Central Java's economic growth. On an individual level, infrastructure, ICT, and economic stability each demonstrate a marked positive correlation with economic growth. Drawing from these insights, the study underscores the imperative for devising comprehensive macro-socioeconomic policies. Such strategic interventions are crucial to ensure that Central Java's economic growth remains both robust and sustainable over time.

Downloads

Download data is not yet available.

References

Aloko, S. M. A., & Abdullahi, U. (2018). Corruption and Underdevelopment in Nigeria: Challenges and Solutions. Scientific Research Journal, VI(VII), 1–10. https://doi.org/10.31364/scirj/v6.i7.2018.p0718538

Andrés, A. R., Asongu, S. A., & Amavilah, V. (2015). The Impact of Formal Institutions on Knowledge Economy. Journal of the Knowledge Economy, 6(4), 1034–1062. https://doi.org/10.1007/s13132-013-0174-3

Badan Pusat Statistik. (2023). Produk Domestik Regional Bruto Provinsi Jawa Tengah menurut Lapangan Usaha 2018-2022. Semarang.

Badan Riset dan Inovasi Nasional. (2023). Indeks Daya Saing Daerah 2022. Jakarta.

Basyariah, N., Kusuma, H., & Qizam, I. (2021). Determinants of Sukuk Market Development: Macroeconomic Stability and Institutional Approach. Journal of Asian Finance, Economics and Business, 8(2), 201–211. https://doi.org/10.13106/jafeb.2021.vol8.no2.0201

Bax, K., Bonaccolto, G., & Paterlini, S. (2023). Do lower environmental, social, and governance (ESG) rated companies have higher systemic impact? Empirical evidence from Europe and the United States. Corporate Social Responsibility and Environmental Management, 30(3), 1406–1420. https://doi.org/10.1002/csr.2427

Burton, I., Huq, S., Lim, B., Pilifosova, O., & Schipper, E. L. (2002). From Impacts Assessment to Adaptation Priorities: the Shaping of Adaptation Policy. Climate Policy, 2(2–3), 145–159. https://doi.org/10.3763/cpol.2002.0217

Calderón, C., & Servén, L. (2004). The Effects of Infrastructure Development on Growth and Income Distribution. In Economia y Empresa (No. WPS 3400). Washington, DC. https://doi.org/10.1596/1813-9450-3400

Cardona, M., Kretschmer, T., & Strobel, T. (2013). ICT and productivity: Conclusions from the empirical literature. Information Economics and Policy, 25(3), 109–125. https://doi.org/10.1016/j.infoecopol.2012.12.002

Destiningsih, R., Sugiharti, R. R., & Achsa, A. (2019). Food Commodity Competitiveness and Accessibility in Barlingmascakeb. Jejak, 12(1), 218–237. https://doi.org/10.15294/jejak.v12i1.18783

Diener, E., & Suh, E. (1997). Measuring quality of life: Economic, social, and subjective indicators. Social Indicators Research, 40(1–2), 189–216. https://doi.org/10.1023/a:1006859511756

Dolowitz, D. P., & Marsh, D. (2000). Learning from Abroad: The Role of Policy Transfer in Contemporary Policy-Making. Governance, 13(1), 5–23. https://doi.org/10.1111/0952-1895.00121

Fawaz, F., Popiashvili, A., & Mnif, A. (2021). The effects of telecommunications infrastructure on Latin America’s economic growth. Problemas Del Desarrollo, 52(206), 143–167. https://doi.org/10.22201/IIEC.20078951E.2021.206.69627

Gentilini, U., & Webb, P. (2008). How are we doing on poverty and hunger reduction? A new measure of country performance. Food Policy, 33(6), 521–532. https://doi.org/10.1016/j.foodpol.2008.04.005

Gujarati, D. (2004). Basic Econometrics (pp. 1–1002). pp. 1–1002. Singapura: McGraw-Hill Inc. Retrieved from http://portal.belesparadisecollege.edu.et:8080/library/bitstream/123456789/2098/1/Basic Economics-The McGraw-Hill Series.pdf

Kabeer, N. (2005). Gender equality and women’s empowerment: A critical analysis of the third Millennium Development Goal. Gender and Development, 13(1), 13–24. https://doi.org/10.1080/13552070512331332273

Keller, J., & von der Gracht, H. A. (2014). The influence of information and communication technology (ICT) on future foresight processes - Results from a Delphi survey. Technological Forecasting and Social Change, 85(2013), 81–92. https://doi.org/10.1016/j.techfore.2013.07.010

Kuik, C.-C. (2021). Irresistible Inducement? Assessing China’s Belt and Road Initiative in Southeast Asia. Council on Foreign Relations, 6(15). Retrieved from https://www.cfr.org/sites/default/files/pdf/kuik_irresistible-inducement-assessing-bri-in-southeast-asia_june-2021.pdf

Lacy, P., Cooper, T., Hayward, R., & Neuberger, L. (2011). A New Era of Sustainability: UN Global Compact-Accenture CEO Study 2010. In United Nations Global Compact. https://doi.org/10.1108/14720701111159208

Mahendra, E. (2015). Financial Dependence, Macroeconomic Stability, and Firm Growth: What Policy lmplications for Indonesia? Economics and Finance in Indonesia, 57(2), 219. https://doi.org/10.7454/efi.v57i2.39

Mokyr, J. (2009). Intellectual Property Rights, the Industrial Revolution, and the Beginnings of Modern Economic Growth. American Economic Review, 99(2), 349–355. https://doi.org/10.1257/aer.99.2.349

Norehan, M. A. H. Bin, Ridzuan, A. R. Bin, & Ismail, S. B. (2021). Conceptual Framework for ICT Development and Foreign Direct Investment Inflows as Drivers for Sustainable Economic Growth: Evidence from China and Malaysia. International Journal of Academic Research in Economics and Management Sciences, 10(1), 123–134. https://doi.org/10.6007/ijarems/v10-i1/9631

Pamela, Q., & Indrawati, L. R. (2022). Effect of Inflation, Exports, and Employment on Economic Growth in Central Java. Research Horizon, 2(5), 501–510. https://doi.org/10.54518/rh.2.5.2022.501-510

Papagiannidis, S., Harris, J., & Morton, D. (2020). WHO led the digital transformation of your company? A reflection of IT related challenges during the pandemic. International Journal of Information Management, 55(June), 102166. https://doi.org/10.1016/j.ijinfomgt.2020.102166

Ray, D., & Ing, L. Y. (2016). Addressing Indonesia’s Infrastructure Deficit. Bulletin of Indonesian Economic Studies, 52(1), 1–25. https://doi.org/10.1080/00074918.2016.1162266

Shi, J., Qi, C., & Mu, X. (2023). Accelerating the Construction of a Unified Domestic Market to Promote Sustainable Economic Development: Mechanisms, Challenges and Countermeasures—A Perspective Based on the General Law of the Market Economy and Chinese Reality. Sustainability (Switzerland), 15(10), 1–16. https://doi.org/10.3390/su15108329

Sodikov, A., Rizaev, Z., Chin, L., & Ochilova, S. (2021). Impact of National Competitiveness on Economic Growth and Income Level – Evidence From the Selected Post-Soviet Countries. Research in World Economy, 12(2), 17. https://doi.org/10.5430/rwe.v12n2p17

Soekapdjo, S., Tribudhi, D. A., Hariyanti, D., & Nugroho, L. (2020). Factors Affecting Economic Growth in Central Java. International Journal of Commerce and Finance, 6(1), 155–165.

Triyani, I., Adam, K., & Kristina, D. (2019). Strengthening Rural and Regional Economic Competitiveness Triggering Purworejo Regency Economic Growth through Tourism-Based Kutoarjo Transit Node Development. The Indonesian Journal of Planning and Development, 4(1), 19. https://doi.org/10.14710/ijpd.4.1.19-28

Wahyuningrum, D., Mafruhah, I., & Mulyanto. (2022). Mapping of Regional Financial Capacity on Economic Growth in Central Java Indonesia. International Journal of Economics, Business and Management Research, 06(07), 142–158. https://doi.org/10.51505/ijebmr.2022.6710

Walpole, R. E., Myers, R. H., Myers, S. L., & Ye, K. (2012). Probability & Statistics for Engineers & Scientists. Boston: Prentice Hall. Retrieved from https://spada.uns.ac.id/pluginfile.php/221008/mod_resource/content/1/ProbabilityStatistics_for_EngineersScientists%289th_Edition%29_Walpole.pdf

Wang, B., Schlagwein, D., Cecez-Kecmanovic, D., & Cahalane, M. C. (2020). Beyond the Factory Paradigm: Digital Nomadism and the Digital Future(s) of Knowledge Work Post-COVID-19. Journal of the Association for Information Systems, 21(6), 1379–1401. https://doi.org/10.17705/1jais.00641

Yusuf, A. A., & Sumner, A. (2015). Growth, Poverty and Inequality under Jokowi. Bulletin of Indonesian Economic Studies, 51(3), 323–348. https://doi.org/10.1080/00074918.2015.1110685

Downloads

Published

28-03-2023

How to Cite

Sihombing, P. R., Arsani, A. M. ., Purwanti, D. ., & Budiantoro, S. . (2023). What is the Impact of Infrastructure, Information and Communication Technology (ICT), and Economic Stability on Central Java’s Economic Growth?. Journal of Government and Political Issues, 3(1), 34–42. https://doi.org/10.53341/jgpi.v3i1.91

Issue

Section

Articles