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Journal : IIJSE

Dynamic Model of The Impact of Macro Indicators and Islamic Monetary Policy Instruments on The Dual Banking System Maisuroh, Qothrinnada; Adam, Muhammad
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 5 No 2 (2022): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v5i2.2349

Abstract

Indonesia is the largest Muslim country with a unique monetary system that in its development tries to juxtapose two monetary systems that have different philosophies and still need to be deepened on the extent of their impact and effectiveness on the economy. The study explores the impact of macro indicators and monetary policy instruments on economic output in Indonesia. Using the time series analysis method with the Vector Error Correction Model (VECM) approach, the model shows the results that the Macro Capital Market or Stock Market indicators have a positive impact on the economy both in the short and long term. At the same time, inflation responds positively to short-term behavior but becomes economic constraints in long-term action. Meanwhile, in the Monetary policy instruments’ scope, the M1 variable consistently has positive implications both in the short and long term. In contrast, the M2 and SBIS variables give negative responses in the short time but become a driving force for the economy in the long term. Meanwhile, there is no positive correlation between Sharia, Monetary Operations with Economic Output. The research suggests focusing on innovating sharia monetary policy instruments by continuing to carry out monetary policy reforms in order to stimulate better economic conditions.
The Impact of HGU Land Conversion on Community Socio-Economy from An Islamic Economic Perspective Adam, Muhammad; Batubara, Maryam; Bi Rahmani, Nur Ahmadi
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 6 No 3 (2023): Sharia Economics
Publisher : Sharia Economics Department Universitas KH. Abdul Chalim, Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v6i3.4009

Abstract

This land conversion phenomenon occurs due to competition in land use between the agricultural sector and the non-agricultural sector which arises as a result of three economic and social phenomena, namely limited resources, population increase, and economic growth. It is inevitable that as people's demand for houses increases, many plantation lands are being converted or reorganized into housing. For this research, a qualitative research method using a phenomenological approach tries to explain or reveal the meaning of concepts or experiential phenomena based on awareness that occurs in several individuals. The impact of land conversion that occurred in the village of Sampali on the social economy for residents who are descendants of PTPN 2 retirees, they lost their homes and as compensation they were given charity, and for the surrounding community, with the conversion of plantation land to housing, progress occurred in the area. This is because land clearing and the development that will be carried out can have an impact on the economy of the surrounding community. If viewed according to Islamic economics, the conversion of functions that occurs is permitted as long as the conversion of land is carried out fairly. The housing development is based on the high demand for housing in the community, so housing construction carried out by the private sector is felt to be very beneficial for the community.
Co-Authors A. Sakir, A. Abbas Abbas, Abbas Affandi, Abdullah Al Rashidi, Fatimah Al Shammari, Hadeel Alfitri Alfitri Alief, Muhammad Amin Rejo Aprilia, Eka D. Arif, Igo Muhammad Arrahman, Taufik Asep Rusyana Badaron, St Fauziah Batubara, Maryam Beridiansyah Beridiansyah, Beridiansyah Bi Rahmani, Nur Ahmadi Chan, Syafruddin Darwanis Darwanis Eka Dian Aprilia Faisal Faisal Ghazi Mauer Idroes Gop, Adityanarayan Janardan H, St. Maryam Hadi, Abd Karim Halimatussadiah, Halimatussadiah Hasan, La Ode Amrul Hasanuddin HENDRA GUNAWAN B11211055 Hendra Syahputra Hi. Manrulu, Rahma Hilmi Hilmi Hizir Sofyan Humaira, Radhia Idris, Sofyan Ikramuddin, Ikramuddin Indra Roza Iriansa Irianti, Ana Dwi Irsan Hardi Irsan Pasaribu , Faisal Iskandarsyah Madjid, Iskandarsyah Jalaluddin Jalaluddin Jalil, Jalil Joshi, Pranav Anant Junaidi Junaidi Junaidin Junaidin Junaina, Intan Kee, Daisy Mui Hung Kesuma, T. Meldi Lambang Basri Said Long, Ahmad Sunawari bin Mahdani Ibrahim Mahdani, Mahdani Maisuroh, Qothrinnada Marty Mawarpury Maulana, Aga Mohammad Benny Alexandri Mu’Ammar, Mohamad Muhammad Akmal Muhammad Alwi Muhammad Haris Riyaldi, Muhammad Haris Mukhlis Yunus Mukhlish Hidayat Murkhana, Murkhana Mursyada, Adieb Mu’Ammar, Mohamad Najmi, Mohd Nooramirul Nizam, Ahmad Nugrawati, Nelly Nugroho, Kharis Nugroho, Rico Maulana Nur Fadhilah Nurfalaq, Aryadi Nurhalimah Nurhalimah Nurrachmah, Elly Nurwijayanti Pandey, Rudresh Pantjarani, Ari Pasaribu, Faisal Irsan Priyansah, Agus Putra, Teuku Roli Ilhamsyah Qashmal, Muhammad Quttainah, Majdi Anwar Ringga, Edi Saputra Rinnarsuri, Dwi Said Musnadi Sakdiyah, Nanda Aulia Ilmatus Sakir, A Salim Sanaji, Sanaji Siregar, M. Ridha Siregar, Muhammad Ridha Siti Hafsah Sofa, Ibnu Sofyan Sofyan Sri Yona Srivastava, Aditi Suhendra, Rivansyah Syahrizal, Teuku Muhammad Syaifudin, Muh Teuku Meldi Kesuma, Teuku Meldi Teuku Rizky Noviandy Tuti Herawati Ulum Janah Uwais, Nurul Violensia Wijaya, Ayu Wiranata Yuliana, Lina Yunita Samalembang Yusuf, Hardiyanti Zainul, LM Zuhra, Syarifah Evi Zulkarnain Zulkarnain