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Journal : JEJAK

Assessing Sharia Monetary Instruments Against Country Economic Growth Wahid, Arfian Nur; Jamel, Surono bin; Noviarita, Heni; Anggraini, Erike
JEJAK: Jurnal Ekonomi dan Kebijakan Vol 13, No 2 (2020): September 2020
Publisher : Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jejak.v13i2.23754

Abstract

This study aims to examine the effect of Islamic monetary instruments on Indonesia's economic growth. Statutory Reserves, Bank Indonesia Syariah Certificate (SBIS) and Outstanding Deposit Facility Syariah (FASBIS) are used as sharia monetr instrument variables in observations. this study is a quantitative study using monthly time series data obtained from the publication of Bank Indonesia and the Indonesian statistical agency in 2015-2019 using ARDL analysis. The results of this study indicate that both short-term and long-term modeling, instrument variables Islamic monetary does not have a significant relationship on economic growth. Although it has a very small effect, the Demand Deposits variable has an effect on the Indonesian economy, while the other variables observed have an inverse relationship with the variable of Indonesia's economic growth. the achievement of monetary stability through sharia monetary instruments can be optimized using policies on the minimum statutory reserves in banks that are useful for controlling the circulation of the amount of money in society so that it is more stable and the Indonesian economy can grow through the middle income trap.
Co-Authors Abdul Rohman Abdulloh Majid Ade Eko Setiawan Adiwijaya, Adam Mulya Agus Dwiyanto Agustina, Kurnia Ahmad Dairobbi Ahmad Fahrozi Ahmad Fauzan Ahmad Habibi Ahmad Nur Huda Ahmad Sadam Ahmad, Roslee Bin Akbar, Estelee Elora Alfa Rizki Saputra Alfarizi, Fakhri Danii Ali Abdul Wakhid Alief Rakhman Setyanto, Alief Rakhman Amalliya Nurjannah Amanatun Nisfah Nurun Nikmah Amin Setiyadi Amirudin Amirudin Ana Mega Selviani Ana Musta’anah Ananda Hidayat Angel Dwi Satria Angraeni, Erike Anisa Binar Cahyani Anita Anita Anjani, Putri Selviana Annisa Munfaati Anriyani, Yuyun Anwar Hidayat Apita Sari Apriani, Rahma Aprilia, Khaeran Aprinai, Tiara Ari Kurniyawati Ariansyah, Angga Ariza Karina Putri Arman Syahyudi Asmaria, Asmaria Audra Laili Aulia Rachman, Muhammad Aziz Hanif Mahfud Baehaqi Bagus Dwi Cahyo Bayo Hadomuan Tanjung Beni Antomi Beny Sangjaya Beza Marsanda Aprilia Bilqis Putri Azhari. Hs Buono, Kulup Bina Chandra Prayoga Chelsea Mawar Az-Zahra Darlia Diah Ayu Permata Diah Sagita Fitri Dian Ekawati Dika Anggraini Puspita Dino Fernandi Diogsha, Hr Ditta Nurhidayanti Dwi Cahyono, Bagus Dwi Nurhayati Dwi Nurhayati Dwi Taufiq Aziz Dwitami, Yuska Supra Ellen Praditha Elsa Rani Shadewi Elzaanin, Amina A.A Erike Anggraeni Erike Anggraini Erike Anggraini Erike Anggraini Erike Anggraini Erike Anggraini Erike Anggraini Eva Dwiana Evi Ekawati Fachry Abda El Rahman Fahmi Muhammad Irfan Fakhri Danii Alfarizi Fautau, Idzam Fauzan Dwi Kusuma Febrianti, Regita Putri Febyviani Dwimutian Anggraini Firli Fachrezi Yansyah Fisman Bedi Fitri Angguan Fitri Yanti Gustika Nurmalia Gustika Nurmalia Halimah, Ulfa Nur Hanif , Hanif Hanif Hanif Hanifuan Maharani Margiyanata Hanin Anggraini Hasan Muhamad Hasanah, Surlidiya Nur Hasani Ahmad Said Icha Afrillia Hidayat Imam Agung Wijaya Indahsari, Leny Jamal Fakhri Jamel, Surono Bin Jayusman Jayusman Jihan Fiqriyani Joko Purwanto Jum Anggriani Kartika, Akbar Pratama Kayla Ratu Natia Khasanah, Arini Khavid Normasyhuri Kholiq, Mu’amalatul Kholiq, Mu’amalatul Kholis, Alwiyan Nur Koderi Krismadayanti Krismadayanti Krismadayanti Krismadayanti Krismadayanti, Krismadayanti Kurnia Agustina Kurnia Agustina Laili, Audra Leni Leny Indahsari Leny Indahsari Leny Indahsari Lestari, Nelly Lutfia Salsabila Bani M Avicenna Meuthi M. Hibatulloh Al Habib M. Nainin, Dasrizal M. Zidan Dairoby Ricardo Maimun Mairiza, Khania Taris Marendra Marendra Maya Puspita Sari Mayzal, Tiondon Melga Sari, Diny Merisa Oktapianti Moh Bahruddin Moh. Bahruddin Muhamad Hasan Muhamad Iqbal Muhammad Iqbal Muhammad Iqbal Fasa Muhammad Kurniawan Muhammad Kurniawan Muhammad Kurniawan Muhammad Noval Muhammad Ryas Fatiha Kesuma Muhammad Saifudin Muhammad Syahid Muhammad Syahid Muhammad Zaki Mutiara Ramadhani Nafisah, Annisa Zauhar Nassa, Martha Haessun Nelly Lestari Nikmatul Mukaromah Nita Dinanti Normasyhuri, Khavid Nova Adella Novia Turmina Umi Nur Wahyu Ningsih Octavia, Sonia Oktapianti, Merisa Pasha, Putri Aisha Praditha, Ellen Pramesti, Desta Wulandari Pratiwi, Dwi Indah Puja Damaskha Rulita Sari Pundarika, Ratriana Putri Aisha Pasha Putri Melisa Putri Selviana Anjani Putri, Putri Amalia Rahayu Utami, Dwi Rahma Apriani Rahma, Fuji Alia Rahmat Fajar Rahmat Fajar Rahmat Gus Faozan Rahmat Ramadon Raihan Adam Zoya Rangga Ananta Rani Wulandari Ranita Pranika Ratriana Pundarika Raudhoh Musyifah Ria Atika Ridwansyah Ridwansyah Rini Setiawati Rita Dewi Rivaldo, Andrean David Romlah Romlah Ruslan Abdul Ghofur Samratulani Samsul Bahri, Galuh Ramadhan Sari NurkhasanahSari Nurkhasanah Sari, Elsa SARI, MAYA PUSPITA SARI, YESSI AVITA Sefta Kurniawansyah Sefti Lediya Devi Seftiana Wulandari Setia Nisa Setiawan, Ade Eko Setyorini, Tri Shilfarihah Hasanah Sinta Tri Utami Siti Khanifah, Siti Siti Maisaroh Siti Nurohmah Siti Patimah Siti Rohamah Sonia Octavia Sulasi Imaniah Surono Bin Jamel Surono Surono Surono Surono Syahyudi, Arman Syamsul Hilal Syara Dwi Afiana Tiondol Mayzal Tri Amar Prasetyo Tri Setyorini Tri Wahyu Nopriyanto Triamalia, Riska Tulus Suryanto Umi, Novia Turmina Wahid, Arfian Nur Wati, Beliya wati, Eliya Wati, Silvi Kesuma Weny Rosilawati Widi, Muhammad Naufal Widiastuti, Eka Wijaya, Imam Agung Winda Anggraini Wiwin Yustina Wullandari, Marcellia Yessi Avita Sari Yuli Astuti Yuli Astuti Yuli Dahlia Saputri Yulistia Devi Zaharah, Rita Zein Adi Abung