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How Literacy and Savings Link Digital Finance to Sustainability?

Economics Development Analysis Journal · Vol. 15 No. 1 (2026) · hlm. 57–74

DOI
10.15294/edaj.v15i1.35159
ISSN
2502-2725, 2252-6560
Terbit
2026-06-06
Penerbit
Universitas Negeri Semarang
Bahasa
eng

Abstrak

This study analyzes how digitalization, financial inclusion, and financial literacy affect business savings and the sustainability of culinary Micro, Small, and Medium Enterprises (MSMEs) in Central Java, Indonesia. Data from 210 MSME owners were examined using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results show that digitalization and financial inclusion significantly increase business savings, thereby enhancing MSME sustainability. Financial literacy does not directly affect sustainability but moderates the relationship between savings and sustainability, strengthening the effectiveness of savings utilization. The model shows strong explanatory power, with R² values of 0.37 for business saving and 0.90 for sustainability. The Importance–Performance Map Analysis identifies financial literacy and digitalization as highly important yet moderately performing variables, marking them as priorities for policy development. Overall, the findings highlight that MSME sustainability in Central Java depends on integrating digital finance, inclusive access, and sound saving behavior, supported by financial literacy. The study provides policymakers and financial institutions with practical insights for designing integrated digital finance and literacy programs that strengthen MSME resilience and regional economic growth.

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13 penulis · 27 tautan kepenulisan bersama · 6 lintas organisasi

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  • Universitas PGRI Semarang
  • State University of Semarang
  • Universitas Aki
  • Jenderal Soedirman University
  • Universitas BPD
  • Afiliasi tidak diketahui
  • Organisasi berbeda
  • Organisasi sama
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Rekan penulisOrganisasiArtikel bersama
Dhea Rizky AmeliaState University of Semarang2
Noni SetyoriniAfiliasi tidak diketahui1
Efriyani SumastutiAfiliasi tidak diketahui1
Ratih Hesty UtamiAfiliasi tidak diketahui1
Noni SetyoriniUniversitas PGRI Semarang1
Ratih Hesty UtamiUniversitas PGRI Semarang1
Nuswantoro Setyadi PradonoUniversitas Aki1
Wahyu WidodoJenderal Soedirman University1
Himawan SutantoUniversitas BPD1

Afiliasi berasal dari OpenAlex; metadata OAI-PMH jurnal tidak memuatnya. Penulis tanpa ID OpenAlex dicocokkan berdasarkan nama, sehingga dua orang bisa tergabung atau satu orang bisa terpisah.

Sumber metadata: OAI-PMH (metadata jurnal) https://journal.unnes.ac.id/journals/edaj/oai, pertama di-harvest 5 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">How Literacy and Savings Link Digital Finance to Sustainability?</dc:title>
	<dc:creator xml:lang="en">Sumastuti, Efriyani </dc:creator>
	<dc:creator xml:lang="en">Widiastuti, C.Tri</dc:creator>
	<dc:creator xml:lang="en">Indriasari, Ika</dc:creator>
	<dc:creator xml:lang="en">Purnomo Adhi, Antono Herry</dc:creator>
	<dc:subject xml:lang="en">Business saving</dc:subject>
	<dc:subject xml:lang="en">MSME sustainability</dc:subject>
	<dc:subject xml:lang="en">Financial literacy</dc:subject>
	<dc:subject xml:lang="en">Financial inclusion</dc:subject>
	<dc:subject xml:lang="en">digitalization</dc:subject>
	<dc:description xml:lang="en">This study analyzes how digitalization, financial inclusion, and financial literacy affect business savings and the sustainability of culinary Micro, Small, and Medium Enterprises (MSMEs) in Central Java, Indonesia. Data from 210 MSME owners were examined using Partial Least Squares–Structural Equation Modeling (PLS-SEM). The results show that digitalization and financial inclusion significantly increase business savings, thereby enhancing MSME sustainability. Financial literacy does not directly affect sustainability but moderates the relationship between savings and sustainability, strengthening the effectiveness of savings utilization. The model shows strong explanatory power, with R² values of 0.37 for business saving and 0.90 for sustainability. The Importance–Performance Map Analysis identifies financial literacy and digitalization as highly important yet moderately performing variables, marking them as priorities for policy development. Overall, the findings highlight that MSME sustainability in Central Java depends on integrating digital finance, inclusive access, and sound saving behavior, supported by financial literacy. The study provides policymakers and financial institutions with practical insights for designing integrated digital finance and literacy programs that strengthen MSME resilience and regional economic growth.</dc:description>
	<dc:publisher xml:lang="en">Universitas Negeri Semarang</dc:publisher>
	<dc:date>2026-06-06</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://journal.unnes.ac.id/journals/edaj/article/view/35159</dc:identifier>
	<dc:identifier>10.15294/edaj.v15i1.35159</dc:identifier>
	<dc:source xml:lang="en">Economics Development Analysis Journal; Vol. 15 No. 1 (2026): Economics Development Analysis Journal; 57 - 74</dc:source>
	<dc:source>2502-2725</dc:source>
	<dc:source>2252-6560</dc:source>
	<dc:source>10.15294/edaj.v15i1</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://journal.unnes.ac.id/journals/edaj/article/view/35159/10683</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2026 Economics Development Analysis Journal</dc:rights>
</oai_dc:dc>