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All Journal Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam RESLAJ: Religion Education Social Laa Roiba Journal Journal of Ekonomics, Finance, and Management Studies
Zul Ihsan Mu'arrif
Unknown Affiliation
Religion Agriculture, Biological Sciences & Forestry Civil Engineering, Building, Construction & Architecture Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Industrial & Manufacturing Engineering Social Sciences

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Forecasting Market Capitalization on The Jakarta Islamic Index using The Arima Method Zul Ihsan Mu'arrif
Reslaj: Religion Education Social Laa Roiba Journal Vol. 6 No. 6 (2024): RESLAJ: Religion Education Social Laa Roiba Journal
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/reslaj.v6i6.2423

Abstract

This research aims to analyze and forecast the market capitalization of the Jakarta Islamic Index through 2028 using the Autoregressive Integrated Moving Average (ARIMA) methodology. By applying ARIMA analysis to historical data spanning from 2011 to 2024, this study specifically identifies factors such as increased investor interest, continuous innovation in Islamic financial products, and stable macroeconomic conditions as primary drivers behind the dynamic growth of the Islamic capital market. The findings of this research reveal a significant positive growth trend in the Islamic capital market, offering valuable insights and extensive practical implications for investors, market analysts, and policymakers. This information is crucial as it can be utilized to formulate more effective investment strategies and design policies that support the sustainable growth of the Islamic capital market. Through meticulous application of the ARIMA model and in-depth analysis of influencing factors, this study contributes new insights to the Islamic finance literature, enhancing understanding of how various market dynamics and economic factors impact the Islamic capital market in Indonesia while also offering practical recommendations for leveraging this market's growth potential.
Hubungan Jangka Pendek dan Jangka Panjang antara Pembiayaan Perbankan Syariah dan GDP di Indonesia dengan menggunakan metode Vector Error Correction Model Zul Ihsan Mu'arrif
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 5 No. 9 (2024): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v5i9.4765

Abstract

This research analyzes the relationship between Islamic bank financing and economic growth as measured by Gross Domestic Product (GDP) using the Vector Error Correction Model (VECM) to explain the short-term and long-term relationship dynamics between these two variables. The results of this research found that there is a long-term negative relationship between Islamic bank financing and GDP. These findings indicate that, although Sharia financing is expected to support economic growth through Sharia-based financial principles, the reality shows that the direct effect on overall economic growth is more complex and not always unidirectional. Apart from that, this research also finds that in the short term, both sharia financing and GDP adjust back to long-term balance after experiencing deviations, which means a strong economic correction mechanism exists. The stable VAR stability test results validate the model's reliability in describing the accurate relationship between sharia financing and economic growth in Indonesia. These findings provide important insights for policymakers and Islamic banking practitioners in developing more effective strategies to encourage inclusive economic growth.
Dampak Industri Halal pada Perekonomian di Indonesia: Pengaruh Pendapatan, Ekspor, dan FDI terhadap PDB Melalui Pendekatan GMM Zul Ihsan Mu'arrif
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 6 No. 9 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i9.4764

Abstract

This research explores the influence of income, exports and foreign direct investment (FDI) on Gross Domestic Product (GDP) in the halal industry in Indonesia, using the Generalized Method of Moments (GMM) approach. This study is based on panel data from companies operating in the halal sector between 2010 and 2022. The results show that income and exports positively and significantly influence GDP growth, confirming the importance of company activities and export performance in driving national economic growth. In contrast, FDI was found to have no significant effect on GDP, indicating that foreign investment's contribution in this sector is not yet optimal or is influenced by other factors such as the quality of institutions and infrastructure. This research provides important implications for policymakers and stakeholders, considering the urgency of improving export strategies, diversifying markets, and improving the quality of institutions and infrastructure to maximize the economic benefits of FDI. In addition, the results of this research also emphasize the important role of the halal industry as a major contributor to Indonesia's economic growth, as well as the need for policies that support further development and diversification of the halal industrial sector.
Hubungan Jangka Pendek dan Jangka Panjang antara Pembiayaan Perbankan Syariah dan GDP di Indonesia dengan menggunakan metode Vector Error Correction Model Zul Ihsan Mu'arrif
El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam Vol. 5 No. 9 (2024): El-Mal: Jurnal Kajian Ekonomi & Bisnis Islam
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/elmal.v5i9.4765

Abstract

This research analyzes the relationship between Islamic bank financing and economic growth as measured by Gross Domestic Product (GDP) using the Vector Error Correction Model (VECM) to explain the short-term and long-term relationship dynamics between these two variables. The results of this research found that there is a long-term negative relationship between Islamic bank financing and GDP. These findings indicate that, although Sharia financing is expected to support economic growth through Sharia-based financial principles, the reality shows that the direct effect on overall economic growth is more complex and not always unidirectional. Apart from that, this research also finds that in the short term, both sharia financing and GDP adjust back to long-term balance after experiencing deviations, which means a strong economic correction mechanism exists. The stable VAR stability test results validate the model's reliability in describing the accurate relationship between sharia financing and economic growth in Indonesia. These findings provide important insights for policymakers and Islamic banking practitioners in developing more effective strategies to encourage inclusive economic growth.
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