Muhammad Ghafur Wibowo
Department of Islamic Economics UIN Sunan Kalijaga Yogyakarta

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The impact of the Islamic finance sector and Covid-19 pandemic on Indonesian economic growth period 2004Q1-2021Q3 Safira Aulia Cahyaningrum; Muhammad Ghafur Wibowo
Journal of Islamic Economics, Management, and Business (JIEMB) Vol 4, No 1 (2022)
Publisher : Prodi Magister Ekonomi Syariah FEBI UIN Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiemb.2022.4.1.11859

Abstract

AbstractPurpose – The impact of Islamic financial sector and COVID-19 pandemic breakout on economic growth from 2004Q1 to 2021Q3 is examined in this paper.Method – A quantitative method employing Autoregressive Distributed Lag (ARDL) analysis was employed in this study.Result – The findings demonstrate that only the JII variable has a statistically meaningful impact on economic growth. Economic growth is influenced by the variables total assets, FDR, PYD, and COVID-19.Implication – This can happen if Islamic financial institutions or Indonesian stock markets are not performing well and don’t have a large enough market share. The notion of finance-led growth, which states that the financial sector can act as a stimulant for economic expansion, is supported by this research.Originality –  This study's research data was gathered from reliable sources such as Islamic Banking Statistics of OJK, the Central Bureau of Statistics (BPS), and Yahoo Finance, ensuring their authenticity.Keywords: Islamic Finance, COVID-19, Economic Growth