Impact of R&D, E-Commerce Employees, and Transactions on Economic Growth in Indonesia

https://doi.org/10.35912/josfe.v2i1.1029
Published: Jan 21, 2026

Abstract:

Purpose: This study aims to examine the impact of Research and Development (R&D) investment, e-commerce company workforce, and e-commerce transaction volume on Indonesia's economic growth from 2010Q1 to 2020Q4.

Methods: The study employs Ordinary Least Squares (OLS) regression with time-series data, using quarterly data from 2010 to 2020. The analysis was performed using E-views 9 software, following normality, autocorrelation, heteroscedasticity, and multicollinearity tests to ensure the validity of the results.

Results: The study found that R&D investment, e-commerce workforce, and transaction volume significantly impact Indonesia’s economic growth, both individually and collectively. R&D investment showed a positive effect, with an increase in R&D contributing 0.615% to economic growth, while e-commerce workforce and transaction volume also had positive effects on growth.

Conclusion: The results indicate that increasing R&D investment, e-commerce employment, and transaction volume can significantly boost Indonesia's economic growth, demonstrating the importance of these factors in driving digital economy growth.

Limitations: This research is limited by the scope of its focus on R&D investment, e-commerce workforce, and transaction volume, and it is confined to data from Indonesia alone. Further research could explore comparative studies across different countries.

Contribution: The findings provide valuable insights for policymakers and stakeholders aiming to enhance economic digitization in Indonesia, offering a data-driven approach to adjusting policies for sustainable economic growth.

Keywords:
1. E-Commerce
2. Economics Growth
3. Investment
Authors:
1 . Gebrella Nadia Sumahir
University of Lampung, Bandar Lampung, Indonesia
2 . Heru Wahyudi
University of Lampung, Bandar Lampung, Indonesia
3 . Tiara Nirmala
University of Lampung, Bandar Lampung, Indonesia
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Vol. 2 No. 1 (2026): January
Articles
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References

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    Chu, Z., Chen, X., & Yang, J. (2025). Impact of data factor and data integration on economic development: Empirical insights from China. Telecommunications policy, 49(8), 103004. doi:https://doi.org/10.1016/j.telpol.2025.103004

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    Kutlaca, D., Sestic, S., Jelic, S., & Popovic-Pantic, S. (2020). The impact of investment in research and development on the economic growth in Serbia. Industrija, 48(1), 23-46. doi:https://doi.org/10.5937/industrija48-24949

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    Pradana, M. (2015). Klasifikasi bisnis e-commerce di Indonesia. Modus, 27(2), 163-174. doi:https://doi.org/10.24002/modus.v27i2.554

    Raetskiy, A., & Tereshchenko, D. (2025). conomic growth and R&D investment: An empirical analysis of Russian regions. Journal of the New Economic Association, 67(2), 46-64. doi:https://doi.org/10.31737/22212264_2025_2_46?64

    Sayekti, N. W. (2018). Tantangan perkembangan ekonomi digital di indonesia. Info singkat, 10(5), 19-24.

    Sharma, D. A., & Mishra, D. S. K. (2023). The Evolution And Impact Of E-Commerce. Journal of Namibian Studies, 33(S1), 1838-1846. doi:https://doi.org/10.59670/jns.v33i.3260

    Šlander-Wostner, S., Križani?, F., & Vojinovic, B. (2025). Endogenous growth factors and economic development: An in-depth analysis of the impact of investments in R&D and human capital on total factor productivity and export dynamics. Engineering Economics, 36(2), 255-267. doi:https://doi.org/10.5755/j01.ee.36.2.35715

    Trung, T. V., & Doan, L. H. (2025). Contribution of capital, labor, and total factor productivity to economic growth and enterprise value-added: A case study of Ha Tinh province, Vietnam. International Journal of Innovative Research and Scientific Studies, 8(3), 3899-3906. doi:https://doi.org/10.53894/ijirss.v8i3.7402

    Tu, J., Wei, X., & Razik, M. A. B. (2025). The impact of digital technology on total factor productivity in manufacturing enterprises. Scientific Reports, 15(1), 23543. doi:https://doi.org/10.1038/s41598-025-05811-6

    Usnaka, A. (2025a). Litigation and non-litigation approaches in Islamic Banking Syariah resolution. Dirham: Journal of Sharia Finance and Economics, 1(1), 49-59. doi:https://doi.org/10.35912/josfe.v1i1.3332

    Usnaka, A. (2025b). Litigation and non-litigation approaches in Islamic Banking Syariah resolution. Dirham: Journal of Sharia Finance and Economics, 1(1), 45-59. doi:https://doi.org/10.35912/josfe.v1i1.3332

    Wijayanti, S., & Wahyudi, M. S. (2025). Analysis of the Solow economic growth model in ASEAN?5 countries. Jurnal Ilmu Ekonomi JIE, 9(03), 286-294. doi:https://doi.org/10.22219/jie.v9i03.40568

    Yang, C.-H., & Chen, Y.-H. (2012). R&D, productivity, and exports: Plant-level evidence from Indonesia. Economic Modelling, 29(2), 208-216. doi:https://doi.org/10.1016/j.econmod.2011.09.006

    Yasin, M. Z. (2023). Does R&D Stimulate Firm’s Efficiency in the Indonesian Manufacturing Sector? Jurnal Ekonomi Indonesia, 12(3), 203-219. doi:https://doi.org/10.52813/jei.v12i3.320

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  2. Anggraeni, L., Tan, S., Junaidi, & Achmad, E. (2024). E?commerce’s impact on economic growth in Indonesia: A systematic literature review. Nomico Journal, 1(6), 64-76. doi:https://doi.org/10.62872/hqfac055
  3. Asdemir, O., Cao, Z., Coskun, A., & Tripathy, A. (2025). Firm strategy and outcome uncertainty in R&D firms. Journal of Risk and Financial Management, 18(6), 292. doi:https://doi.org/10.3390/jrfm18060292
  4. Chen, L., & Kimura, F. (2020). E-commerce connectivity in ASEAN. Jakarta: ERIA.
  5. Chu, Z., Chen, X., & Yang, J. (2025). Impact of data factor and data integration on economic development: Empirical insights from China. Telecommunications policy, 49(8), 103004. doi:https://doi.org/10.1016/j.telpol.2025.103004
  6. Chukwuemeka Ogugua, A. (2024). A theoritical and empirical literature on economic growth:. Advanced Research in Economics and Business Strategy Journal, 5(2), 07-16. doi:https://doi.org/10.29106/fesa.858707
  7. Couture, V., Faber, B., Gu, Y., & Liu, L. (2018). E-Commerce Integration and Economic Development: Evidence from China.
  8. Dianari, R. G. F. (2018). Pengaruh e-commerce terhadap pertumbuhan ekonomi indonesia. Bina Ekonomi, 22(1), 43-62. doi:https://doi.org/10.26593/be.v22i1.3619.45-64
  9. Ferrara, M. (2025). Solow-Swan Model and Growth Dynamics: moving forward. Decisions in Economics and Finance, 10(2), 1-17. doi:https://doi.org/10.1007/s10203-025-00543-8
  10. Fitriyani, L. N., Handayani, T., & Sari, L. P. (2025). Analysis of the marketing strategy of savings products at BMT Nasuha during the Covid-19 pandemic. Dirham: Journal of Sharia Finance and Economics, 1(1), 1-14. doi:https://doi.org/10.35912/dirham.v1i1.3329
  11. Gutiérrez-Sánchez, G., & Benéitez-Andrés, E. (2025). The impact of R&D investment on economic growth and productivity: Evidence from emerging economies. Economies, 13(10), 293. doi:https://doi.org/10.3390/economies13100293
  12. Hindrayani, A., Rina, L., & Naufalin, L. R. (2024). Impact of Indonesia's ICT development on economic growth. Jurnal Pendidikan Ekonomi Dan Bisnis (JPEB), 12(01), 01-10. doi:https://doi.org/10.62872/hqfac055
  13. Indonesia, B. (2021). Laporan kebijakan moneter 2021. Retrieved from
  14. Insee, K., & Suttipun, M. (2023). R&D spending, competitive advantage, and firm performance in Thailand. Cogent Business & Management, 10(2), 2225831. doi:https://doi.org/10.1080/23311975.2023.2225831
  15. Kutlaca, D., Sestic, S., Jelic, S., & Popovic-Pantic, S. (2020). The impact of investment in research and development on the economic growth in Serbia. Industrija, 48(1), 23-46. doi:https://doi.org/10.5937/industrija48-24949
  16. Mahfuzah, S., & Chandriyanti, I. (2022). Perkembangan transaksi e?commerce berdasarkan metode pembayaran, kategori produk, dan kelompok usia di Kalimantan Selatan. JIEP: Jurnal Ilmu Ekonomi dan Pembangunan, 5(1), 293-309. doi:https://doi.org/10.20527/jiep.v5i1.5529
  17. Maisaroh, N., Habibi, A., & Iqbal, M. (2024). Growth trends of internet users and e-commerce in increasing economic growth in Indonesia. Jurnal Ekonomi Pembangunan, 13(3), 41-50. doi:https://doi.org/10.23960/jep.v13i3.3868
  18. Melinda, V., Wiliasih, R., Irfany, M. I., & Haq, D. A. (2026). Capital structure and banking performance in dual banking system in Indonesia. Dirham: Journal of Sharia Finance and Economics, 2(1), 1-16. doi:https://doi.org/10.35912/josfe.v2i1.1665
  19. Nursari, A. (2023). The influence of technological development through R&D on production efficiency and economic outcomes. Jurnal JMM, 12(1), 45-60. doi:https://doi.org/10.33024/jejama.v3i1.11259
  20. Pradana, M. (2015). Klasifikasi bisnis e-commerce di Indonesia. Modus, 27(2), 163-174. doi:https://doi.org/10.24002/modus.v27i2.554
  21. Raetskiy, A., & Tereshchenko, D. (2025). conomic growth and R&D investment: An empirical analysis of Russian regions. Journal of the New Economic Association, 67(2), 46-64. doi:https://doi.org/10.31737/22212264_2025_2_46?64
  22. Sayekti, N. W. (2018). Tantangan perkembangan ekonomi digital di indonesia. Info singkat, 10(5), 19-24.
  23. Sharma, D. A., & Mishra, D. S. K. (2023). The Evolution And Impact Of E-Commerce. Journal of Namibian Studies, 33(S1), 1838-1846. doi:https://doi.org/10.59670/jns.v33i.3260
  24. Šlander-Wostner, S., Križani?, F., & Vojinovic, B. (2025). Endogenous growth factors and economic development: An in-depth analysis of the impact of investments in R&D and human capital on total factor productivity and export dynamics. Engineering Economics, 36(2), 255-267. doi:https://doi.org/10.5755/j01.ee.36.2.35715
  25. Trung, T. V., & Doan, L. H. (2025). Contribution of capital, labor, and total factor productivity to economic growth and enterprise value-added: A case study of Ha Tinh province, Vietnam. International Journal of Innovative Research and Scientific Studies, 8(3), 3899-3906. doi:https://doi.org/10.53894/ijirss.v8i3.7402
  26. Tu, J., Wei, X., & Razik, M. A. B. (2025). The impact of digital technology on total factor productivity in manufacturing enterprises. Scientific Reports, 15(1), 23543. doi:https://doi.org/10.1038/s41598-025-05811-6
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  28. Usnaka, A. (2025b). Litigation and non-litigation approaches in Islamic Banking Syariah resolution. Dirham: Journal of Sharia Finance and Economics, 1(1), 45-59. doi:https://doi.org/10.35912/josfe.v1i1.3332
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