The influence of capital expenditure, farmer exchange rate, and economic growth on the Human Development Index in Jambi Province
Abstract
This research aims to analyze the effects of capital expenditure, farmers' exchange rates, and economic growth on the human development index in the districts/cities of Jambi Province. The research method used is panel data regression consisting of CEM, FEM, and REM models, with chow test, hausman test, and lagrange multiplier test approaches. The results of the model selection indicate that the FEM model shows that the variables of farmers' exchange rates and economic growth have a significant effect on the human development index, while the capital expenditure variable does not have a significant effect on the human development index of the districts/cities of Jambi Province during the years 2020-2024.
Full text article
References
Andriany, V., Elfadhli, & Fernando, G. (2025). Nilai tukar petani dan pertumbuhan ekonomi terhadap indeks pembangunan manusia di Sumatera Barat: Studi kuantitatif 2010–2022 [Farmer exchange rate and economic growth on the human development index in West Sumatra: Quantitative study 2010–2022]. JPRO, *6*(1), 111–121.
Andriany, V., Elfadhli, & Fernando, G. (2025). Pengaruh nilai tukar petani dan pertumbuhan ekonomi terhadap indeks pembangunan manusia di Provinsi Jawa Timur [The effect of farmer exchange rate and economic growth on the human development index in East Java Province]. JPRO, *6*(1), 1–6. https://jurnalmahasiswa.unesa.ac.id/index.php/jupe/article/view/12545
Badan Pusat Statistik. (2018). Data dan informasi kemiskinan kabupaten/kota tahun 2018 [Data and information on regency/city poverty in 2018]. Badan Pusat Statistik.
Bahri, S. (2018). Metode penelitian bisnis: Lengkap dengan teknik pengolahan data SPSS [Business research methods: Complete with SPSS data processing techniques]. ANDI.
Darwin, D., Madris, & Fatmawati. (2022). The influence of government expenditure in the health sector, education sector, and capital expenditure on the human development index in South Sulawesi Province. Enrichment: Journal of Management, *12*(5), 3758–3767. https://enrichment.iocspublisher.org/index.php/enrichment/article/view/853
Dewi, A. (2006). Kajian penerapan akuntansi biaya pada anggaran belanja daerah Kota Singkawang [Study on the application of cost accounting in the regional expenditure budget of Singkawang City] (Unpublished undergraduate thesis). Universitas Islam Indonesia.
Dewi, N., Yusuf, Y., & Iyan, R. Y. (2017). Pengaruh kemiskinan dan pertumbuhan ekonomi terhadap indeks pembangunan manusia di Provinsi Riau [The effect of poverty and economic growth on the human development index in Riau Province]. JOM Fekon, *4*(1), 870–882.
Ghozali, I. (2018). Aplikasi analisis multivariate dengan program IBM SPSS 25 [Multivariate analysis application with IBM SPSS 25 program]. Universitas Diponegoro.
Gunawan, R., Yarsah, W. N., & Arsyah, T. D. (2022). Pertumbuhan kemiskinan dan upah minimum regional terhadap indeks pembangunan manusia [Poverty growth and regional minimum wage on the human development index]. PARETO: Jurnal Ekonomi dan Kebijakan Publik, *5*(1), 125–142.
Halim, A., & Kusufi, M. S. (2013). Akuntansi sektor publik: Akuntansi keuangan daerah [Public sector accounting: Regional financial accounting]. Salemba Empat.
Hanafi, M., & Halim, A. (2012). Analisis laporan keuangan [Financial statement analysis]. UPP STIM YKPN.
Hastanti, E. S., & Ariani, K. R. (2023). Pengaruh pendapatan asli daerah dan luas wilayah terhadap indeks pembangunan manusia (IPM) dengan belanja modal sebagai variabel intervening pada pemerintah daerah Provinsi Jawa Timur [The effect of local revenue and regional area on the human development index (HDI) with capital expenditure as an intervening variable in the regional government of East Java Province]. Journal Universitas Muhammadiyah Surakarta, *1*(1).
Hasyim, A. I. (2017). Ekonomi makro [Macroeconomics]. Prenada Media Group.
Huda, N. (2015). Ekonomi pembangunan Islam [Islamic development economics]. PT Adhitya Andrebina Agung.
Ibrahim, Z. (2016). Pengantar ekonomi makro [Introduction to macroeconomics]. Koperasi Syariah Baraka.
Khikmah, Z., Sarfiah, S. N., & Prasetyanto, P. K. (2020). Pengaruh kemiskinan, pertumbuhan ekonomi, dan belanja modal terhadap indeks pembangunan manusia di Pulau Sulawesi tahun 2011–2018 [The effect of poverty, economic growth, and capital expenditure on the human development index in Sulawesi Island 2011–2018]. Directory Journal of Economic, *2*(4), 1127–1142.
Kiha, E. K., Seran, S., & Seuk, G. (2021). Pengaruh inflasi, produk domestik regional bruto, dan upah minimum regional terhadap indeks pembangunan manusia Provinsi Nusa Tenggara Timur [The effect of inflation, gross regional domestic product, and regional minimum wage on the human development index of East Nusa Tenggara Province]. INVEST: Jurnal Inovasi Bisnis dan Akuntansi, *2*(1), 41–56. https://doi.org/10.55583/invest.v2i1.128
Latifah, N. (2017). Pertumbuhan ekonomi dan indeks pembangunan manusia terhadap tingkat pengangguran terbuka dan dampaknya pada jumlah penduduk miskin di Kota Manado (2006–2015) [Economic growth and human development index on open unemployment rate and its impact on the number of poor people in Manado City (2006–2015)]. Jurnal Ekonomi, *17*(2).
Mankiw, N. G. (2013). Pengantar ekonomi makro [Introduction to macroeconomics]. Salemba Empat.
Murbanto Sinaga, & Zalukhu, R. S. (2022). The impact of poverty and capital expenditure on the human development index in North Sumatra. International Journal of Economics and Management Research, *1*(1), 109–121. https://doi.org/10.55606/ijemr.v1i1.88
Nasution, Z., Rizal, K., & Lubis, J. (2021). Farmer exchange rate, government expenditure on education and health, and the human development index in North Sumatera Province. Journal of Agri Socio-Economics and Business, *3*(1), 21–32. https://doi.org/10.31186/jaseb.3.1.21-32
Nordiawan, D. (2010). Akuntansi sektor publik [Public sector accounting]. Salemba Empat.
Nuroso, W., & Hidayat, R. (2024). Analisis pengaruh PDRB per kapita, upah minimum, penyerapan tenaga kerja, dan jumlah penduduk miskin terhadap indeks pembangunan manusia di Provinsi Jawa Barat tahun 2017–2020 [Analysis of the effect of GDP per capita, minimum wage, labor absorption, and the number of poor people on the human development index in West Java Province 2017–2020]. Ekonomikawan: Jurnal Ilmu Ekonomi dan Studi Pembangunan, *24*(1), 89–101. https://doi.org/10.30596/ekonomikawan.v24i1.18551
Pinem, A. A., Saleh, M., & Effendy, A. S. (2021). The effect of profit-sharing fund, export value, and capital expenditure investment on economic growth and unemployment in East Kalimantan. International Journal of Entrepreneurship and Business Development, *4*(5), 689–699. https://doi.org/10.29138/ijebd.v4i5.1472
Primandari, N. R. (2020). Pengaruh pertumbuhan ekonomi dan pengangguran terhadap indeks pembangunan manusia (IPM) di Provinsi Sumatera Selatan periode 2004–2018 [The effect of economic growth and unemployment on the human development index (HDI) in South Sumatra Province for the period 2004–2018]. PARETO: Jurnal Ekonomi dan Kebijakan Publik, *2*(2), 25. https://doi.org/10.32663/pareto.v2i2.1020
Purnamawati, I. G. A. (2021). Ekonomi makro: Teori dan kebijakan [Macroeconomics: Theory and policy]. PT RajaGrafindo Persada.
Riduwan. (2012). Cara menggunakan dan memaknai path analysis [How to use and interpret path analysis]. Alfabeta.
Sanusi, A. (2018). Metodologi penelitian bisnis [Business research methodology] (4th ed.). Salemba Empat.
Setiawan, G. B. K. P., & Budiana, D. N. (2015). Pengaruh belanja modal terhadap indeks pembangunan manusia melalui pertumbuhan ekonomi sebagai variabel intervening Provinsi Bali [The effect of capital expenditure on the human development index through economic growth as an intervening variable in Bali Province]. E-Jurnal Ekonomi Pembangunan Universitas Udayana, *4*(10), 1276–1303.
Simamora, S. E., Marbun, D. P. S. B., Zahra, F. H., Asnidar, & Ridha, A. (2024). Pengaruh pendapatan asli daerah dan belanja modal terhadap pertumbuhan ekonomi dan kesejahteraan masyarakat di Provinsi Sumatera Utara [The effect of local revenue and capital expenditure on economic growth and community welfare in North Sumatra Province]. Jurnal Riset Ekonomi dan Akuntansi, *2*(4), 394–416.
Syaiful. (2008). Pengertian dan perlakuan akuntansi belanja barang dan belanja modal dalam kaidah akuntansi pemerintahan [Definition and accounting treatment of goods expenditure and capital expenditure in government accounting rules]. Bappenas.
Todaro, M. P., & Smith, S. C. (2011). Pembangunan ekonomi di dunia ketiga [Economic development in the Third World] (9th ed.). Erlangga.
Todaro, M. P., & Smith, S. C. (2013). Pertumbuhan ekonomi di dunia ketiga [Economic growth in the Third World]. Erlangga.
Wijayanti, D. (2024). Dampak kemiskinan, PDRB, pengangguran, dan pengeluaran pemerintah terhadap indeks pembangunan manusia (IPM): Studi empiris di Provinsi Riau tahun 2018–2023 [The impact of poverty, GRDP, unemployment, and government expenditure on the human development index (HDI): Empirical study in Riau Province 2018–2023]. Jurnal Aplikasi Bisnis, *21*(2), 595–602.
Wiryawan, K. J., Ayu, I., & Pratiwi, M. (2024). Pengaruh PDRB dan upah minimum provinsi terhadap kemiskinan dan IPM di provinsi-provinsi Indonesia [The effect of GRDP and provincial minimum wage on poverty and HDI in Indonesian provinces]. *20*(September).
Authors
Copyright (c) 2025 Adjie Sakrawi, Erni Achmad , Zainul Bahri

This work is licensed under a Creative Commons Attribution 4.0 International License.
https://www.explorationpub.com/ueditor/php/upload/image/20220407/1649295240380692.png