ANALYSIS OF THE INFLUENCE OF SHARIA FINANCIAL SECTOR ON INDONESIAN NATIONAL INCOME 2011-2020

Jurnal Ekonomi Syariah Teori dan Terapan

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Title ANALYSIS OF THE INFLUENCE OF SHARIA FINANCIAL SECTOR ON INDONESIAN NATIONAL INCOME 2011-2020
 
Creator Farras, Naufal Haidar
Darwanto, Darwanto
 
Description ABSTRAKPenelitian ini bertujuan untuk menganalisis pengaruh variabel sektor keuangan syariah terhadap Pendapatan Nasional Indonesia yang masih terkenal belum maksimal. Variabel sektor keuangan syariah terdiri dari indeks saham syariah, reksadana syariah, obiligasi syariah, serta perbankan syariah. Variabel Pendapatan Nasional Indonesia menggunakan data Produk Domestik Bruto Indonesia. Penelitian ini menggunakan metode ARDL (Autoregression Distributed Lag) yang mengukur pengaruh dalam jangka pendek maupun panjang secara parsial maupun stimultan. Penelitian ini menggunakan data triwulan yang diperoleh dari Statistik Saham Syariah, Statistik Reksadana Syariah, Statistik Sukuk Syariah, serta Statistik Perbankan Syariah dari Otoritas Jasa Keuangan. Sedangkan data Produk Domestik Bruto Indonesia didapatkan dari Kementerian Perdagangan Republik Indonesia periode waktu antara Januari 2011 sampai dengan Desember 2020. Hasil penelitian secara parsial menunjukkan bahwa dalam jangka pendek, perbankan syariah berpengaruh positif positif terhadap PDB, saham syariah dan reksadana syariah berpengaruh negatif terhadap PDB, sedangkan obligasi syariah tidak berpengaruh terhadap PDB. Dalam jangka panjang, perbankan syariah berpengaruh positif positif terhadap PDB, saham syariah dan reksadana syariah berpengaruh negatif terhadap PDB, sedangkan obligasi syariah tidak berpengaruh terhadap PDB. Secara simultan dalam jangka pendek dan jangka panjang sektor keuangan syariah tidak memiliki hubungan kointegrasi jangka Panjang terhadap Produk Domestik Bruto Indonesia.Kata Kunci: Indeks Saham Syariah, Reksadana Syariah, Obligasi Syariah, Perbankan Syariah, Produk Domestik Bruto. ABSTRACTThis study aims to analyze the effect of Islamic financial sector variables on Indonesia's National Income which is still not maximized. The Islamic finance sector variables consist of Islamic stock index, sharia mutual funds, sharia bonds, and sharia banking. The Indonesian National Income Variable uses Indonesia's Gross Domestic Product data. This study uses the ARDL (Autoregression Distributed Lag) method which measures the effect in the short term either partially or simultaneously. This study uses quarterly data obtained from Sharia Stock Statistics, Sharia Mutual Fund Statistics, Sharia Sukuk Statistics, and Sharia Banking Statistics from the Financial Services Authority. Meanwhile, Indonesia's Gross Domestic Product data was obtained from the Ministry of Trade of the Republic of Indonesia for the period between January 2011 to December 2020. The partial results show that in the short term, Islamic banking has a positive effect on GDP, Islamic stocks and Islamic mutual funds have a negative effect on GDP, while Islamic bondon has no effect on GDP. In the long term, Islamic banking has a positive positive effect on GDP, Islamic stocks and Islamic mutual funds have a negative effect on GDP, while Islamic bonds have no effect on GDP. Simultaneously, in the short and long term, the Islamic finance sector does not have a long-term cointegration relationship with Indonesia's Gross Domestic Product.Keywords: Sharia Stock Index, Sharia Mutual Funds, Sharia Bonds, Sharia Banking. REFERENCES Abduh, M., & Omar, M. A. (2012). Islamic banking and economic growth: The Indonesian experience. International Journal of Islamic and Middle Eastern Finance and Management, 5(1), 35-47.Al-tamimi, K. (2018). The role of Islamic banks operating in Jordan in economic development. Journal of Economics and Sustainable Development, 4(8), 46-59.Ayyubi, S. E., Lukytawati, A., & Almira, D. M. (2017). Pengaruh bank syariah terhadap pertumbuhan ekonomi di Indonesia. Jurnal Al-Muzara’ah, 5(2), 88-106.Badan Koordinasi Penanaman Modal. (2018). Realisasi Investasi PMA Berdasarkan Lokasi. Retrieved from https://www.bkpm.go.id/images/uploads/investasi_indonesia/file/Realisasi_FDI_berdasarkan_lokasi_Jan-Des_2018.pdf.Beik, I. S. (2011). Memperkuat Peran Sukuk Negara Dalam Pembangunan Ekonomi Indonesia. Jurnal Ekonomi Islam Al-Infaq, 2(2), 65–72.Faroh, N. (2016). Pengaruh saham syariah, sukuk, dan reksadana syariah terhadap pertumbuhan ekonomi nasional (tahun 2008-2015). Skripsi tidak diterbitkan. Tulungagung: IAIN Tulungagung.Fauzan, M., & Suhendro, D. (2019). Peran pasar modal syariah dalam mendorong laju pertumbuhan ekonomi di Indonesia. Human Falah: Jurnal Ekonomi dan Bisnis Islam, 5(1), 69-95.Hayati, S. R. (2014). Peran perbankan syariah terhadap pertumbuhan ekonomi Indonesia. Indo-Islamika, 4, 41–66.Kakwani, N., Son, H., & Asian Development Bank. (2003). Pro-Poor Growth: Concepts and measurement with country case studies. Working Paper, 1–24.Kassim, S. (2016). Islamic finance and economic growth: The Malaysian experience. Global Finance Journal, 30, 66–76. http://dx.doi.org/10.1016/j.gfj.2015.11.007.Nasution, Y. S. J. (2015). Peranan pasar modal dalam perekonomian negara. Human Falah: Jurnal Ekonomi dan Bisnis Islam, 2(1), 95–112.Nurafiati, N. (2019). Perkembangan pasar modal syariah dan kontribusinya terhadap pertumbuhan ekonomi di Indonesia. Inklusif (Jurnal Pengkajian Penelitian Ekonomi Dan Hukum Islam), 4(1), 65-75.Radjak, L. I., & Kartika, I. Y. (2018). Pengaruh saham syariah terhadap pertumbuhan ekonomi nasional. Journal Syariah and Accounting Public, 2(1), 60-70.Rama, A. (2013). Perbankan syariah dan pertumbuhan ekonomi Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 2(1), 33–56.Rasyad, R. (2012). Perbankan syariah dan pertumbuhan ekonomi Indonesia. Signifikan: Jurnal Ilmu Ekonomi, 2(1), 33-56.Rosadi, D. (2011). Analisis ekonometrika dan runtun waktu terapan. Yogyakarta: Offset.Schumpeter, J. (2013). Schumpeter’s View on Innovation and Entrepreneurship. SSRN Electronic Journal (October). Retrieved from https://www.researchgate.net/publication/256060978.Shin, Y., & Smith, R. J. (2001). Bounds testing approaches to the analysis, 326(February), 289–326.
 
Publisher Universitas Airlangga
 
Contributor
 
Date 2021-09-30
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://e-journal.unair.ac.id/JESTT/article/view/26694
10.20473/vol8iss20215pp630-640
 
Source Jurnal Ekonomi Syariah Teori dan Terapan; Vol 8, No 5 (2021): September-2021; 630-640
2502-1508
2407-1935
 
Language eng
 
Relation https://e-journal.unair.ac.id/JESTT/article/view/26694/pdf
https://e-journal.unair.ac.id/JESTT/article/downloadSuppFile/26694/9479
https://e-journal.unair.ac.id/JESTT/article/downloadSuppFile/26694/9480
https://e-journal.unair.ac.id/JESTT/article/downloadSuppFile/26694/9481
 
Rights Copyright (c) 2021 Naufal Haidar Farras, darwanto darwanto
http://creativecommons.org/licenses/by-nc-sa/4.0
 

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