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Campbell III, Carl M.
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Economics, Econometrics & Finance

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The Green Finance Strees in Indonesian Banking Finance Basmar, Edwin; Campbell III, Carl M.; Xing, Liu Chang
Jurnal ASET (Akuntansi Riset) Vol 17, No 1 (2025): JURNAL ASET (AKUNTANSI RISET) JANUARI-JUNI 2025
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/jaset.v17i1.81924

Abstract

This study aims to account for the banking sector intermediary to increase the environmental function by green finance in Indonesia. Method using the development model of the Ed Waves Index with time series data and grouped quarterly from 2019 to 2021 obtained from the Annual Reports of Bank Indonesia and the Financial Services Authority (OJK). There are 2 waves that give a positive reaction (effective) at the first period (GF 0.008 amplitude) and the fourth period (GF -0.022 amplitude). On the other hand, two waves gave a negative reaction (ineffective) at the second period (GF - 0.011 amplitudo) and the third period (GF 0.019 amplitudo). Therefore, the green finance cycle has a sensitive behavior for the intermediary banking sector due to the effect of macroeconomic shock, and because of that, the green finance cycle movements cannot support financial stability and economic growth effectively in Indonesia. This research can serve as a new model for both theoretical and empirical studies in the field of economics. This result can also be a measuring tool for Bank Indonesia and the banking sector in determining financial policies regarding economic indicators to anticipate acute financial depression due to increasing financial sensitivity. This study contributes to the classical theory and the velocity of money theory development in relation to financial activities measured based on the banking intermediary function.
Co-Authors Basmar, Edwin Xing, Liu Chang