Analysis The Influence of Sharia Capital Market and Sharia Macroeconomic Variables on Indonesia’s Economic Growth

Miftahul Huda, Ahmad Suminto, Syaidatul Sa’diah, M. Kurnia Rahman Abadi
{"title":"Analysis The Influence of Sharia Capital Market and Sharia Macroeconomic Variables on Indonesia’s Economic Growth","authors":"Miftahul Huda, Ahmad Suminto, Syaidatul Sa’diah, M. Kurnia Rahman Abadi","doi":"10.24239/jiebi.v5i2.191.113-133","DOIUrl":null,"url":null,"abstract":"The research aims to determine the effect of the Sharia capital market and Sharia macroeconomic variables on Indonesia's economic growth in 2017-2021 in the short and long term. The research uses quantitative methods, and the data used is secondary data from time series. The data analysis techniques used are the vector autoregression (VAR) and the vector error correction model (VECM). The results show that in the short term, the Indonesian Sharia Stock Index (ISSI), corporate sukuk, household consumption, and inflation do not have a significant effect on economic growth. The variables of the Indonesian Sharia Stock Index (ISSI) and corporate sukuk have a significant negative effect on GDP in the long run. Meanwhile, inflation has a significant positive effect on GDP in the long run. Household consumption does not affect GDP in the long run. Simultaneously, all variables, namely ISSI, corporate sukuk, household consumption, and inflation, have no significant effect on GDP. GDP responds positively to shocks that occur in ISSI, corporate bonds, and inflation. Meanwhile, household consumption has a negative response from GDP. The variable that has the largest contribution is GDP, household consumption, ISSI, and inflation, and the smallest contribution is shown by corporate sukuk.","PeriodicalId":509402,"journal":{"name":"Jurnal Ilmu Ekonomi dan Bisnis Islam","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-12-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Jurnal Ilmu Ekonomi dan Bisnis Islam","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.24239/jiebi.v5i2.191.113-133","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0

Abstract

The research aims to determine the effect of the Sharia capital market and Sharia macroeconomic variables on Indonesia's economic growth in 2017-2021 in the short and long term. The research uses quantitative methods, and the data used is secondary data from time series. The data analysis techniques used are the vector autoregression (VAR) and the vector error correction model (VECM). The results show that in the short term, the Indonesian Sharia Stock Index (ISSI), corporate sukuk, household consumption, and inflation do not have a significant effect on economic growth. The variables of the Indonesian Sharia Stock Index (ISSI) and corporate sukuk have a significant negative effect on GDP in the long run. Meanwhile, inflation has a significant positive effect on GDP in the long run. Household consumption does not affect GDP in the long run. Simultaneously, all variables, namely ISSI, corporate sukuk, household consumption, and inflation, have no significant effect on GDP. GDP responds positively to shocks that occur in ISSI, corporate bonds, and inflation. Meanwhile, household consumption has a negative response from GDP. The variable that has the largest contribution is GDP, household consumption, ISSI, and inflation, and the smallest contribution is shown by corporate sukuk.
查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
分析伊斯兰教资本市场和伊斯兰教宏观经济变量对印尼经济增长的影响
本研究旨在确定伊斯兰教资本市场和伊斯兰教宏观经济变量对印度尼西亚 2017-2021 年经济增长的短期和长期影响。研究采用定量方法,所用数据为时间序列的二手数据。使用的数据分析技术是向量自回归(VAR)和向量误差修正模型(VECM)。结果显示,在短期内,印尼伊斯兰教股票指数(ISSI)、公司伊斯兰债券、家庭消费和通货膨胀对经济增长没有显著影响。从长期来看,印尼伊斯兰教股票指数(ISSI)和公司伊斯兰债券变量对国内生产总值有显著的负面影响。同时,从长期来看,通货膨胀对国内生产总值有显著的正向影响。从长期来看,家庭消费不会影响国内生产总值。同时,所有变量,即 ISSI、公司伊斯兰债券、家庭消费和通货膨胀,对国内生产总值都没有显著影响。国内生产总值对 ISSI、公司债券和通货膨胀的冲击有正向响应。同时,家庭消费对国内生产总值的影响为负。贡献最大的变量是国内生产总值、家庭消费、ISSI 和通货膨胀,贡献最小的是公司债券。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
自引率
0.00%
发文量
0
期刊最新文献
Exploring Purchase Decision of Skincare Products: The Interplay of Halal Awareness, Country of Origin, and Online Cosumer Reviews with Religiosity as A Moderating Variable Analysis The Influence of Sharia Capital Market and Sharia Macroeconomic Variables on Indonesia’s Economic Growth How Does Financial Accountability, Information Quality, and Altruism Drive Business Zakat Compliance Through Business Growth Mediation? Determinants of Purchase Decision on Halal Product: The Mediating Effect of Halal Certification Mosque-Based Economic Development Over a Decade with Bibliometric Review Analysis
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1