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Evaluating the Effects of Digital Rupiah Innovation, Green Finance, and Monetary Policy Uncertainty on Sustainable Economic Growth in Indonesia

Sep 2026 · Etikonomi · Vol 25 · 0 citations

Abstract

Research Originality: This study is the first to integrate digital rupiah innovation, green finance, and monetary policy uncertainty within a single sustainability-oriented macroeconomic framework for Indonesia. Research Objectives: It examines how these factors, together with digital financial inclusion and renewable energy investment, affect Indonesia's sustainable economic growth and identifies the main growth drivers. Research Method: The study applies a Common Effect Model pooled ordinary least squares regression to annual national aggregate data, following formal panel model selection tests. Empirical Results:  Digital rupiah innovation, digital financial inclusion, and renewable energy investment positively drive sustainable growth, while monetary policy uncertainty constrains it; green finance has no significant effect yet. Implications: Policymakers should accelerate digital payment adoption and financial inclusion, ensure credible monetary policy communication, and strengthen green finance market infrastructure. JEL Classification: E52, E58, G21, O44, Q42

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