Pengaruh Instrumen Keuangan Syariah Terhadap Pertumbuhan Ekonomi Indonesia

Abstract

The growth of Islamic finance in Indonesia has experienced very significant growth. The Indonesian government hopes that the financial sector will become an important instrument in promoting economic growth in Indonesia, but it seems that the percentage of economic growth in Indonesia has declined over the past decade. This study aims to analyze the impact of Islamic financial instruments on economic growth in Indonesia. This study uses a quantitative method with an Autoregressive Distributed Lag (ARDL) model analysis tool. The results of this study show that all Islamic financial instrument variables have a negative effect on economic growth in the short term. Meanwhile, in the long term, all independent variables have a positive effect on economic growth except for Sharia Mutual Funds which show a negative effect and Sharia Bank Financing and Sharia Stocks have no effect on economic growth in Indonesia. Thus, it can be concluded that Islamic financial instruments in the long term have a positive influence on encouraging economic growth in Indonesia.

Examining the impact of zakah and Islamic finance on national economic growth

“…This affects the decline in the real sector related to investment activities. Investment activities will only affect the economy if investment is used to finance the real sector (Andiansyah et al, 2022). Based on research conducted by Mitsaliyandito et al (2017), the domestic sukuk market has the greatest influence on Indonesia's GDP compared with the corporate sukuk market.…”

“…According to Antonio (2001), financing is a funding activity carried out by an institution or financial institution, such as Islamic banking, for customers who need funding (Andiansyah et al, 2022). Financing is one of the main tasks of the bank, namely, the provision of funds to meet the needs of parties who lack funds.…”

“…Research conducted by Andiansyah et al (2022), Badriyah and Munandar (2021), Ridlo et al (2020), and Suprayitno (2019 stated that, in the long run, zakah has a significant positive effect on economic growth, both directly and indirectly. This is inversely proportional to the research conducted by Khasandy et al (2019), Lutfi andFitria (2023), andSumiyati et al (2020), who state that zakah does not have a significant effect on national economic growth either directly or indirectly.…”

Determinan Minat Kunjung Kembali Wisata Halal Dengan Satisfaction Sebagai Variabel Intervening (Studi Kasus : Wisata Danau Lut Tawar Aceh Tengah)

“…Pertumbuhan ekonomi merupakan hal yang penting dalam mengukur keberhasilan suatu negara (Linawati et al, 2021). Pertumbuhan ekonomi yang dicapai oleh suatu negara sering dijadikan sebagai bagian dari keberhasilan kinerja pemerintah bersama dengan lembaga dan instansi-instansinya (Andiansyah et al, 2022) (Salah satu tanda pertumbuhan ekonomi yang positif pada suatu negara adalah perkembangan sektor pariwisatanya. Sehingga, pariwisata memiliki peran penting sebagai penyumbang pendapatan devisa, serta secara alamiah dapat memacu pertumbuhan ekonomi nasional.…”