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Analisis Peran Keuangan Komersial Syahriah Dan Keuangan Sosial Terhadap Pertumbuhan Ekonomi Indonesia
"This study aims to analyze the role of Islamic commercial finance
represented by Islamic banking financing and Islamic capital
markets based on equity and debt, namely Islamic stocks and sukuk
and Islamic social finance represented by zakat, infaq and sadaqah
(ZIS) on Indonesia's economic growth represented by real gross
domestic product (GDP) in the short and long term for the period
2011-2023.
: This study uses a quantitative approach by collecting data from
Financial Services Authority (OJK), The National Board of Zakat
Republic of Indonesia (BAZNAS) and Central Bureau of Statistics
(BPS) quarterly in the period 2011-2023. The method used in the
study is VAR-VECM with Stata software.
: The results of this study indicate that Islamic banking financing
has a negative but insignificant effect on Indonesia's economic
growth in the short term. In the long term, Islamic banking
financing has a negative and significant effect on Indonesia's
economic growth. Equity-based Islamic capital markets: Islamic
stocks have a positive and significant effect on Indonesia's
economic growth in the short term. In the long term, equity-based
Islamic capital markets: Islamic stocks have a positive but
insignificant effect on Indonesia's economic growth. Debt-based
Islamic capital markets: sukuk have a positive but insignificant
effect on Indonesia's economic growth in the short term. In the long
term, debt-based Islamic capital markets: sukuk have a positive
and significant effect on Indonesia's economic growth. Distribution
of zakat, infaq and sadaqah has a negative but insignificant effect
on Indonesia's economic growth in the short term. In the long term,
distribution of zakat, infaq and sadaqah has a positive and
significant effect on Indonesia's economic growth.
:
Islamic Banking Financing, Islamic Capital Market, ZIS,"
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