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Assessing the unemployment rate as a mediator between SMEs and economic growth

Jurnal Perspektif Pembiayaan dan Pembangunan Daerah · Vol. 12 No. 5 (2024) · hlm. 459–470

DOI
10.22437/ppd.v12i5.37800
ISSN
2355-8520, 2338-4603
Terbit
2024-12-31
Penerbit
Program Magister Ilmu Ekonomi Pascasarjana Universitas Jambi
Bahasa
en
Lisensi
creativecommons.org/licenses/by/4.0

Abstrak

Economic growth and unemployment reduction in developing countries can be strengthened by improving the business quality of SMEs. As SMEs dominate Indonesia’s industrial structure, this study examines their relationship with economic growth, with unemployment rates as a moderating variable, in West Java, Central Java, and East Java from 2015 to 2022. Using Structural Equation Modeling (SEM) on 96 observations, the findings reveal that the number of SME business units has a significant negative impact on the unemployment rate, whereas total assets have a positive impact. A higher asset value enhances the capacity for modernization and digitalization, which, in turn, reduces labor absorption and potentially increases unemployment. Additionally, a decline in the unemployment rate positively influences economic growth, which is consistent with Okun’s Law, though with a relatively low magnitude. These findings highlight the need for government policies to facilitate SME business development by improving production standards, expanding access to business capital, and enhancing market reach. This approach aligns with the UMKM Naik Kelas (SME Scale-Up) program, which aims to promote sustainable SME growth and economic resilience.

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  • Sebelas Maret University
  • Universitas Airlangga
  • Universitas Bina Darma
  • Al Zawiya University
  • INTI International University
  • State University of Semarang
  • Universitas Ahmad Dahlan
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Rekan penulisOrganisasiArtikel bersama
Emi WidiyantiSebelas Maret University2
Phany Ineke PutriState University of Semarang2
Deshinta Arrova DewiINTI International University1
Sunda ArianaUniversitas Bina Darma1
Sulaiman HelmiUniversitas Bina Darma1
Mashal AlqudahAfiliasi tidak diketahui1
Rizqi Ulfa NurlailiSebelas Maret University1
Vita Kartika SariSebelas Maret University1
Izza MafruhahSebelas Maret University1
Dewi IsmoyowatiSebelas Maret University1
Nurul HasanaAfiliasi tidak diketahui1
Nurul IstiqomahSebelas Maret University1
Prahastiwi UtariSebelas Maret University1
Dwiningtyas PadmaningrumSebelas Maret University1
Suminah SuminahSebelas Maret University1
Khairullah KhairullahUniversitas Ahmad Dahlan1
Yunastiti PurwaningsihSebelas Maret University1
H. HariniSebelas Maret University1
Ahmad MunirDarul Ulum Islamic University1
Siswanto SiswantoUniversitas Airlangga1
Sudarsono SudarsonoUniversity of Brawijaya1
Rr. Herini Siti AisyahUniversitas Airlangga1
M. Hadi ShubhanUniversitas Airlangga1
Nur Basuki MinarnoUniversitas Airlangga1
Siswandi HendartaUniversitas Airlangga1
Raissa Virgy RiandaUniversitas Airlangga1
Rama Azalix RiandaUniversitas Airlangga1
Xavier NugrahaUniversitas Airlangga1
Alam Subuh FernandoUniversitas Airlangga1
Alya AdelinaUniversitas Airlangga1

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Sumber metadata: OAI-PMH (metadata jurnal) https://online-journal.unja.ac.id/index.php/JES/oai, pertama di-harvest 6 Nov 2026, terakhir terlihat 8 Nov 2026.
Metadata asli (oai_dc) 
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	<dc:title xml:lang="en">Assessing the unemployment rate as a mediator between SMEs and economic growth</dc:title>
	<dc:creator xml:lang="en">Cahyadin, Malik</dc:creator>
	<dc:creator xml:lang="en">Irianto, Heru</dc:creator>
	<dc:creator xml:lang="en">Ertimi, Basem</dc:creator>
	<dc:subject xml:lang="en">Economic growth</dc:subject>
	<dc:subject xml:lang="en">SEM</dc:subject>
	<dc:subject xml:lang="en">SMEs</dc:subject>
	<dc:subject xml:lang="en">Unemployment</dc:subject>
	<dc:description xml:lang="en">Economic growth and unemployment reduction in developing countries can be strengthened by improving the business quality of SMEs. As SMEs dominate Indonesia’s industrial structure, this study examines their relationship with economic growth, with unemployment rates as a moderating variable, in West Java, Central Java, and East Java from 2015 to 2022. Using Structural Equation Modeling (SEM) on 96 observations, the findings reveal that the number of SME business units has a significant negative impact on the unemployment rate, whereas total assets have a positive impact. A higher asset value enhances the capacity for modernization and digitalization, which, in turn, reduces labor absorption and potentially increases unemployment. Additionally, a decline in the unemployment rate positively influences economic growth, which is consistent with Okun’s Law, though with a relatively low magnitude. These findings highlight the need for government policies to facilitate SME business development by improving production standards, expanding access to business capital, and enhancing market reach. This approach aligns with the UMKM Naik Kelas (SME Scale-Up) program, which aims to promote sustainable SME growth and economic resilience.</dc:description>
	<dc:publisher xml:lang="en">Program Magister Ilmu Ekonomi  Pascasarjana Universitas Jambi</dc:publisher>
	<dc:date>2024-12-31</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://online-journal.unja.ac.id/JES/article/view/37800</dc:identifier>
	<dc:identifier>10.22437/ppd.v12i5.37800</dc:identifier>
	<dc:source xml:lang="en">Jurnal Perspektif Pembiayaan dan Pembangunan Daerah; Vol. 12 No. 5 (2024): Jurnal Perspektif Pembiayaan dan Pembangunan Daerah; 459 - 470</dc:source>
	<dc:source>2355-8520</dc:source>
	<dc:source>2338-4603</dc:source>
	<dc:language>en</dc:language>
	<dc:relation>https://online-journal.unja.ac.id/JES/article/view/37800/19992</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2025 Malik Cahyadin, Heru Irianto, Basem Ertimi</dc:rights>
	<dc:rights xml:lang="en">https://creativecommons.org/licenses/by/4.0</dc:rights>
</oai_dc:dc>