Keywords
Jawa Timur
Pertumbuhan Ekonomi
Suku Bunga
Time Series
How to Cite
Abstract
Economic growth is a key indicator of regional development success, influenced by various macroeconomic factors, including inflation and interest rates. This study aims to analyze the impact of inflation and interest rates on the economic growth of East Java Province during the 2011–2024 period. A quantitative approach was employed using secondary data from Statistics Indonesia (BPS) and Bank Indonesia (BI). The analysis utilized classical assumption tests, multiple linear regression, t-tests, F-tests, and the coefficient of determination. The results indicate that inflation has a positive but insignificant effect (coefficient: 0.196; significance: 0.173), whereas interest rates have a positive and significant effect (coefficient: 0.294; significance: 0.044). Simultaneously, both variables exert a significant influence, with a significance value of 0.015 and an R-squared value of 0.537. The findings suggest that interest rates play a more substantial role than inflation in influencing economic growth in East Java.
References
Anzelia, N. P. (2021). Pengaruh nilai tukar, jumlah uang beredar, dan tingkat inflasi terhadap pertumbuhan ekonomi di Indonesia. Jurnal Ilmu Ekonomi dan Sosial (JIES), 10(1), 88–100. https://doi.org/10.22441/jies.v10i1.12949
Aulya, I. S., & Suantha, K. K. (2024). Pengaruh inflasi dan suku bunga Indonesia terhadap pertumbuhan ekonomi di Provinsi Jawa Barat periode 2021–2023. Proceeding FRIMA (Festival Riset Ilmiah Manajemen dan Akuntansi), 7(1), 284–294. https://doi.org/10.55916/frima.v1i7.542
Mandeya, S. M. T., & Ho, S.-Y. (2021). Inflation, inflation uncertainty and the economic growth nexus: An impact study of South Africa. MethodsX, 8, Article 101501. https://doi.org/10.1016/j.mex.2021.101501
Mentari, R. M. (2024). Analisis dampak impor, inflasi, dan suku bunga terhadap pertumbuhan ekonomi periode tahun 2018–2022. Independent: Journal of Economics, 3(2), 132–140. https://doi.org/10.26740/independent.v3i2.51854
Mushtaq, S., & Siddiqui, D. A. (2016). Effect of interest rate on economic performance: Evidence from Islamic and non-Islamic economies. Financial Innovation, 2, Article 9. https://doi.org/10.1186/s40854-016-0028-7
Nguyen, T. H. (2025). Interest rates and economic growth: Evidence from Southeast Asia countries. Economies, 13(8), Article 244. https://doi.org/10.3390/economies13080244
Purnomo, D. K., & Wibowo, W. (2024). The effect of interest rates and inflation on economic growth in ASEAN-5 countries. Journal of Developing Economies, 9(2), 217–229. https://doi.org/10.20473/jde.v9i2.52413
Septiani, R., Wulandari, D., Narmaditya, B. S., & Prayitno, P. H. (2021). Nexus between monetary instruments and bank credit distribution: Evidence from ASEAN countries. Indonesian Economic Review, 2(1), 1–7. https://doi.org/10.53787/iconev.v2i1.1
Simatupang, F., & Marselina, M. (2023). Economic growth: Can be influenced by exports, inflation, and government expenditure on ASEAN-7 countries during the AFTA period? Journal of Economics Research and Social Sciences, 7(2), 127–146. https://doi.org/10.18196/jerss.v7i2.14819
Triandini, N. A. (2024). The impact of the monetary policy’s interest rate transmission on Indonesia’s regional economic growth. Journal of Economics Development Issues, 7(2), 1–14. https://doi.org/10.33005/jedi.v7i2.348
Utami, R. T., Anggraeni, S. K., Setiawati, T., Kanaya, Z. M., Jumawan, & Navanti, D. (2024). Pengaruh inflasi dan suku bunga terhadap pertumbuhan ekonomi Indonesia pada periode tahun 2016–2023. IJESM Indonesian Journal of Economics and Strategic Management, 2(2), 1350–1361. https://doi.org/10.69718/ijesm.v2i2.196
Wijayanti, D., & Hisyam, H. (2025). Analisis determinasi financial deepening terhadap pertumbuhan ekonomi di 5 negara ASEAN pada tahun 2010–2023. Jurnal Kebijakan Ekonomi dan Keuangan, 4(1), 49–56. https://doi.org/10.20885/JKEK.vol4.iss1.art6
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
Copyright (c) 2026 Syafa Salsabella, Siti Nur Qomariyah, Azhar Irfana Gangsar