Articles

Taxes and Unemployment in the Asean Countries

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This study has inspired us to understand the relationship between taxes and unemployment in ASEAN countries. Taxes are one of the sources of government development funding, including human development. The purpose of this study is to find out how much ASEAN four governments are taxed for inaction. The four ASEAN governments are used as examples. The methods used in this study were information verified using the eViews app, 12.The results showed that  simultaneously the variables Foreign Domestic Investment, Exchange Rate have a positive and significant influence on tax revenue. Partially, Foreign Domestic Investment variables and exchange rates have a positive and significant influence, while exchange rate variables have a negative and insignificant influence on tax revenue. Furthermore, the variable of tax revenue has a positive and significant influence on unemployment. For this reason, governments in ASEAN countries need efforts so that tax revenues can increase so as to reduce unemployment in their respective countries.

 

Shariah Stocks, Sukuk, and Shariah Mutual Funds on the Economic Growth of Indonesia: The Role of Exchange Rate

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This study aims to analyze the influence of Shariah stocks, Sukuk, and Shariah mutual funds on Indonesia’s economic growth during 2012-2021, with the exchange rate as a moderating variable. The research utilized a quantitative approach and secondary data from the Financial Services Authority, the Central Statistics Agency, and the Bank of Indonesia. Descriptive statistics, normality tests, multicollinearity tests, autocorrelation tests, heteroskedasticity tests, and multiple linear regression analyses were employed to test the hypotheses. The findings revealed that Shariah stocks, Sukuk, and Shariah mutual funds significantly impacted Indonesia’s economic growth. Individually, Sukuk and Shariah mutual funds positively influenced economic growth, while Shariah stocks did not have a significant effect. Furthermore, the exchange rate moderated the relationship between Shariah stocks, Sukuk, and Shariah mutual funds and economic growth. The implications of this study highlight the importance of developing the Shariah financial market in Indonesia and the need for supportive policies to foster its growth. However, this study is limited by secondary data and a limited period. Future research should consider expanding the scope of data and extending the time frame to gain a more comprehensive understanding of the influence of Shariah stocks, Sukuk, and Shariah mutual funds on Indonesia’s economic growth.