ASSESSING THE INFLUENCE OF THE ISLAMIC FINANCIAL SYSTEM ON INDONESIA'S ECONOMIC GROWTH IN THE LONG AND SHORT RUN FROM 2011 TO 2022

Neng Kamarni, Fery Andrianus, Aisyah Dhoifullah

Abstract


This study aims to see the performance of the Islamic financial system on Indonesia's economic growth in the long and short run from 2011 to 2022. The research method uses the Autoregressive Distributed Lag (ARDL) analysis method. The data used in this study are secondary. Secondary data is a source of data that is not directly obtained from objects through interviews. Secondary data can be obtained from other organizations or individuals such as census data collected. Data from the Indonesian Central Bureau of Statistics (BPS) and the Financial Services Authority (OJK). This study uses economic growth as the dependent variable and the Indonesian Sharia Stock Index and Islamic banking financing as independent variables. The research provides results that the performance of Islamic banking financing and the Indonesian Sharia Stock Index provides positive and significant results on economic growth. Based on the results of this study, it is hoped that the government will further strengthen policies that focus on the development of Islamic finance in Indonesia because improving the performance of the Islamic financial system can improve and encourage economic growth in Indonesia.

Keywords


Economic Growth, Indonesia Sharia Stock Index, Islamic Banking Financing

References


A, M., & Omar, A. (2012). Islamic Banking And Economic Growth: Indonesian Experience. International Journal of Islamic And Middle Eastern Finance and Management, Vol. 5(1), 2012 pp 35-47. DOI 10.1108/17538391211216811.

Abduh, M. (2012). Islamic banking and economic growth: the Indonesian Experience. International Journal of Islamic and Middle Eastern Finance and Management, 35-47.

Assidiq, R. (2023). Kritik atas Perdagangan Inovasi Kewirausahaan J.A.Schumpeter. Jurnal Pendidikan Ekonomi, Vol. 11(3).

Ayyubi, S., Anggraeni, L., & Mahiswari, A. D. (2017). Pengaruh bank syariah terhadap pertumbuhan ekonomi di Indonesia. Al-Muzara'ah, 5(2), 88-106.

Fatmawati, I. (2015). Analisis Pertumbuhan Ekonomi Indonesia Dengan Model Solow dan Schumpeter. Jurnal Fakultas Ekonomi Universitas Brawijaya, Vol. 3(3).

Fathoni, H. & Gina Sakinah. (2021). Peran Pasar Modal Syariah Dalam Laju Pertumbuhan Ekonomi Di Indonesia. Khazanah Multidisiplin, 2(1), 33-44.

Hossain, A. A. (2016). Inflammatory Shock And Real Output Growth in Nine Muslim Majority Countries: Implication For Islamic Banking And Finance. Journal of Asian Economics, No 45, pp.56-73. DOI 10.1016/j.asieco.2016.06.004.

Kamarni, N. (2015). Karakteristik Pembiayaan syariah Dan Kelembagaan Usaha Terhadap Pengembangan Usaha Mikro. Jurnal Ecosains, Vol. 4(2).

Kassim, S. (2016). Islamic Finance And Economic Growth: The Malaysian Experience. Global Finance Journal, No 30. Pp 66-76. DOI 10.1016/j.gfj.2015.11.007.

Lestari, N. (2021). Teori Pembangunan Ekonomi. Jurnal Manajemen Bisnis Islam, Vol. 2(2). DOI 10.24042/revenue.v2i2.9071.

Meuraxa, R. A. (2023). Analisis Dampak Kelayakan Pembiayaan bank Syariah Terhadap Usaha Mikro Kecil Dan Menengah. Edunomika, Vol. 7(1).

Michael, T. (2013). Pembangunan Ekonomi Edis Kesebelas. Jakarta: Erlangga.

Naz, S. A., & Gulzar, S. (2022). Impact of Islamic finance on economic growth: an empirical analysis of Muslim countries. The Singapore Economic Review, 67(01), 245-265.

Nurhidayah, D., Hidayati, A. N., & Habib, M. A. F. (2022). Pengaruh Inflasi, Saham Syariah, Sukuk dan Reksadana Syariah terhadap Pertumbuhan Ekonomi Nasional Tahun 2013-2020. Jurnal Sinar Manajemen, 9(1), 158-169.

Qamariyah, I. (2017). Pengaruh Tingkat Inflasi dan Pertumbuhan Ekonomi Terhadap Tingkat Pengangguran di Jawa Timur.

Rachmawati, M. (2015). faktor Yang Mempengaruhi Pergerakan Saham pada Indeks Saham Syariah Indonesia (ISSI) di Bursa Efek Indonesia (BEI).

Rahman, T. (2015). Deteminasi Pertumbuhan Ekonomi di ASEAN. Jurnal Media Komunikasi.

Salsabil, I. (2023). pengaruh Pertumbuhan Ekonomi, Tingkat Pendidikan, Kesehatan dan Pertumbuhan Ekonomi Terhadap Tingkat kemiskinan. jurnal Riset Ilmu Ekonomi Dan Bisnis, Vol. 3(1).

Santoso, H. (2015). Analisis Pembiayaan Ijarah Perbankan Syariah. Jurnal Ilmiah Ekonomi Islam.

Setiawan, I. (2021). Pembiayaan Umkm, Kinerja Bank Syariah Dan Pertumbuhan Ekonomi Di Indonesia. Islamic Banking: Jurnal Pemikiran Dan Pengembangan Perbankan Syariah, 6(2), 263-278.

Sukirno, S. (2015). Teori Pengantar Makroekonomi. Jakarta: PT. Raja Grafindo.

Suprijati, J. (2015). Pertumbuhan Ekonomi Di Kabupaten Bangkalan Setelah Adanya Pembangunan Jembatan Suramadu ( Anlisis Teori Harrod-Domar). Surabaya: Universitas Dr. Soetomo Surabaya.

Tabash, M. I., & Dhankar, R. S. (2014). The flow of Islamic finance and economic growth: An empirical evidence of Middle East. Journal of Finance and Accounting, 2(1), 11-19.

Taqwa, K. Z. (2017). Analisis Sistem Keuangan Syariah Terhadap Pertumbuhan Ekonomi Indonesia. Surabaya: Universitas Airlangga.

Ulpa, M. (2020). Konsep Pembiayaan Dalam Perbankan Syariah . Madani Syari'ah.

Widyastuti, E., & Arinta, Y. N. (2020). Perbankan Syariah dan Pertumbuhan Ekonomi Indonesia: Bagaimana Kontribusinya?. Al-Muzara'ah, 8(2), 129-140.

Wijayanti, D. (2002). Melacak Pembuktian Teori-teori Pertumbuhan Ekonomi. Jurnal Ekonomi Pembangunan, 181-186




DOI: http://dx.doi.org/10.24014/jiq.v19i2.27514

Refbacks

  • There are currently no refbacks.