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All Journal Jurnal Ekonomi & Studi Pembangunan JEPI
Komarulzaman, Ahmad
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Economics, Econometrics & Finance

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Testing the Existence of Natural Resource Curse in Indonesia: The Role of Financial Development Ridena, Sedwivia; Nurarifin, Nurarifin; Hermawan, Wawan; Komarulzaman, Ahmad
Jurnal Ekonomi & Studi Pembangunan JESP Volume 22 Nomor 2, Oktober 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v22i2.10977

Abstract

Natural resources may become a blessing that can contribute to societies’ welfare increases. Yet natural resource abundance could also become a curse for countries’ economic development. Numerous studies have investigated the relationship between natural resources and economic performance. However, the results remain ambiguous and have no consensus in the literature. In specific, most literature focused only on testing the curse’s existence, while studies that involve the role of financial development in mediating the nexus remain scarce. To the best of our knowledge, this is a pioneer study in a developing country endowed by natural resources. Using panel data of 33 provinces from 2012 to 2018, this study implements the Generalized Method of Moments (GMM) technique to examine the existence of the natural resource curse and scrutinize the role of financial development in mitigating the curse. Results show that Indonesia potentially experiences a natural resource curse. Nonetheless, the negative effect of natural resources on economic growth could be mitigated by enhancing the role of financial development to reach a certain threshold over economic output. This study recommends policymakers to not only increase financial development across the provinces but also pay more serious attention to other factors causing the natural resource curse in Indonesia.
Konsumsi Energi, Pembangunan Sektor Keuangan dan Emisi Karbon di Indonesia Karunia, Monica Ruth; Komarulzaman, Ahmad; Tjahjawandita, Ari
Jurnal Ekonomi dan Pembangunan Indonesia Vol. 23, No. 1
Publisher : UI Scholars Hub

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Abstract

This study investigates EKC hypothesis in Indonesia over the period of 1980–2019. Within the EKC framework, we examine the impact of GDP, energy consumption, and financial development on CO2 emissions using ARDL bound-test. The results show that the study variables are cointegrated, representing a long-run relationship. The EKC hypothesis is not validated as we found a U-shaped relationship. Given the turning point (IDR13,274,579) has been reached in 1987, a further increase in GDP would only be associated with an increase in CO2 emissions. While energy consumption increases CO2 emissions, financial development seems to improve environmental quality by lowering CO2 emissions.
Pengaruh Pendanaan Iklim terhadap Penurunan Emisi Karbon melalui Energi Terbarukan di Indonesia Evitasari, Noviani; Komarulzaman, Ahmad
Jurnal Ekonomi dan Pembangunan Indonesia Vol. 23, No. 2
Publisher : UI Scholars Hub

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Abstract

Climate change causes various negative impacts on life, thus requiring mitigation and adaptation actions. Climate finance could support the transition to a low-carbon economy globally, including in Indonesia. However, empirical research on climate finance in Indonesia is still limited. This study uses path analysis to examine the relationship between climate finance, renewable energy mix, and carbon emissions in Indonesia from 1973 to 2020. The results show that climate finance could not directly reduce carbon emissions or promote renewable energy indirectly. These findings indicate the need to reallocate climate finance to sectors that have the potential to reduce carbon in Indonesia.
Co-Authors Evitasari, Noviani Karunia, Monica Ruth Nurarifin, Nurarifin Ridena, Sedwivia Tjahjawandita, Ari Wawan Hermawan