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Muhammad Ardi Nupi Hasyim
Universitas Koperasi Indonesia, Indonesia
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The Role of Islamic Banks’ Profitability on Indonesia’s Economic Growth: A CAMELS and Endogenous Growth Model Analysis Heri Nugraha; Eka Setiajatnika; Muhamad Ardi Nupi Hasyim; Franklin Kharisma Genta
Journal of Islamic Economics and Business Vol. 5 No. 2 (2025): Journal of Islamic Economics and Business
Publisher : Fakultas Ekonomi dan Bisnis Islam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/jieb.v5i2.49830

Abstract

This study examines the role of Islamic banking profitability in Indonesia’s economic growth using the CAMELS framework and an endogenous growth perspective. The analysis focuses on profitability as the main mechanism linking Islamic banking performance to real sector development during the COVID-19 pandemic and the subsequent economic recovery period. The study uses annual data from 2020 to 2023 obtained from the Financial Services Authority, Bank Indonesia, Statistics Indonesia, and the World Bank. The analytical methods include descriptive statistics, correlation and stationarity tests, and regression estimation using Ordinary Least Squares (OLS) and the System Generalized Method of Moments (GMM) to address potential endogeneity. The empirical results show that Islamic banking profitability, particularly Return on Equity (ROE), has a positive and statistically significant effect on Indonesia’s economic growth. Return on Assets (ROA) also exhibits a positive relationship with growth, although with weaker statistical significance. Other CAMELS indicators, including capital adequacy, asset quality, efficiency, and liquidity, do not have a significant direct impact on economic growth but serve as stabilizing factors for the banking system. Inflation has a negative and significant effect on economic growth, while investment shows a positive but statistically insignificant relationship. Overall, the findings confirm that profitability is the primary channel through which Islamic banking contributes to national economic growth. This study positions profitability as an explanatory variable rather than merely a performance indicator and reinforces the relevance of endogenous growth theory in the context of Islamic banking in Indonesia. Policy implications emphasize the importance of strengthening Islamic banking profitability to enhance its contribution to sustainable economic growth.
Co-Authors Amalia, Nanda Rizki Cevri Hermawan Dendi Gusnadi Dewi Yanti Dian Pitriyani Ega Nurmala Chaerudin Eka Setiajatnika Elizabeth Olivia Ina Barek Ellinda Nurgiantini Eva Mardiyana Fadhilah Aulia Rahmah Fauzan Riezky Hutama Femy Adnianti Fitriana Dewi Sumaryana GENTA, Franklin Kharisma Germanus Ignasius Loyola Maje Hamdati, Sherien Leni Hanny Novindaning Tyas Heri Nugraha Heri Nugraha Husny Miftahul Jannah I Gede Putu Brahmantta Bismahogra Budiswara Inggik Sri Cahayani Irina Jacinta Mandaku Irma Yulianti Cahyani Isni Tazkiatul Ulla Jumiati, Meiliyani Karina Komariah Hidayat Karmila Putri Amin Kurniawan, Jajang Leba, Farny Elisabeth Lisnawati, Tina M. Arief Ramdhany Madeleine Ing Mandaku Maulaniewati, Siti Ulfah Muhamad Azhari Kartiwa Noerwulantari, Anoegrah Nur Halimah Savitri Nurul Fadhila Redi Setiadi Reinaldi Pangaribua Restika Listiana Pratiwi Reva Dwina Sefira Riana Kusumawati Saepulloh Hidayat Sagita, Melda Salsabila Mupida Septafeta Petra Ramot SIMAMORA Setiandari Zamzami Shintya Ayu Putri Priyadi Siska Nuraini Suarny Amran Suci Rosdiana Sukma Jaya Artha Sulistian, Apriyani Toufiq Agung Pratomo Sugito Putra Ulfa Ramadini Vany Octaviany Vina ' Alimah Widya Astuti Winda Nur Rizki Ningsih Yayang Ayu Nuraeni Yola Nur Apriliani