Article Per Year (5 Year)
p-Index From 2021 - 2026
0.23
P-Index
This Author published in this journals
All Journal Jurnal Ekonomi Pembangunan
Lalu Kamala Hady
Department of Economics, Faculty of Economics and Business, University of Mataram, West Nusa Tenggara, Indonesian
Economics, Econometrics & Finance

Published : 1 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 1 Documents
Search

 1 
The Impact of Inflation, Money Supply, and Sharia Third-Party Funds on the Sharia Monetary System, 2018–2024 Lalu Kamala Hady; Muaidy Yasin; M Irwan
Jurnal Ekonomi Pembangunan Vol. 24 No. 01 (2026): Jurnal Ekonomi Pembangunan
Publisher : Pusat Pengkajian Ekonomi dan Kebijakan Publik

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jep.v24i01.44718

Abstract

This study aims to analyze the impact of inflation, money supply (M2), and Islamic third-party funds (DPKS) on Islamic monetary operations in Indonesia using the Vector Error Correction Model (VECM) approach. The data used consist of secondary time-series data obtained from official sources such as Bank Indonesia and the Financial Services Authority (OJK) for the period 2018–2024. The results indicate a long-term relationship among the study variables. In the long run, inflation and DPKS have a significant negative effect on Islamic monetary operations, while the money supply has no significant effect. In the short term, the adjustment process toward equilibrium proceeds relatively slowly, indicating that the Islamic monetary system tends to be stable and unresponsive to short-term shocks. Analysis of the Impulse Response Function (IRF) shows that the response to shocks is volatile at the beginning of the period but then stabilizes, while the Forecast Error Variance Decomposition (FEVD) results indicate that variations in the Islamic monetary system are dominated by internal factors. These findings underscore the importance of liquidity management and the optimization of intermediation functions in maintaining the stability of the Islamic monetary system.
Co-Authors M Irwan Muaidy Yasin