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All Journal Trikonomika: Jurnal Ekonomi
Isnaeni Octaviani
Universitas Islam Negeri Syarif Hidayatullah Jakarta
Economics, Econometrics & Finance

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ISLAMIC MONETARY POLICY AND ITS IMPACT ON REAL SECTOR Isnaeni Octaviani; Mohammad Nur Rianto Al Arif
TRIKONOMIKA Vol 17 No 2 (2018): December Edition
Publisher : Faculty of Economics and Business, University of Pasundan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (715.848 KB) | DOI: 10.23969/trikonomika.v17i2.1144

Abstract

The essence of the Islamic economic system is strengthening the real sector. This research aims to analyze the effect of Islamic monetary instrument (such as SBIS, PUAS and Islamic bank financing in the real sector. This research uses the Vector Error Correction Model (VECM) as a method of analysis. The finding revealed that based on the VECM estimation test, in the long term SBIS and Islamic bank financing has a positive effect on the Industrial Production Index (IPI). Meanwhile, PUAS has an adverse effect toward Industrial Production Index (IPI). Besides, based on impulse response function (IRF) test, the shock of SBIS and PUAS responded positively by Industrial Production Index (IPI). Then based on the result of FEVD test, the variable of PUAS in the model of this research has the most significant contribution toward Industrial Production Index (IPI).
Co-Authors Mohammad Nur Rianto Al Arif