Novitasari, Evi Fitria
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Analysis of Sharia Economic Development in the Era of Globalization in Indonesia: Opportunities & Challenges Herlina Angganita, Nurul Aulia; Novitasari, Evi Fitria
Gorontalo Development Review Volume 7 Nomor 2 Oktober 2024
Publisher : Universitas Gorontalo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32662/golder.v0i0.3383

Abstract

Sharia economics has become a topic that has attracted attention in the development of the global economy, especially in the current era of globalization. This article highlights basic principles such as monotheism, balance, benefit, taawun, and justice in the context of sharia economics, taking into account the prohibitions on usury, maysir, and gharar. The research was carried out through a qualitative descriptive approach using library research methods. This article also discusses the history and development of sharia economics in Indonesia, including the challenges faced and the government's efforts to develop it. This article emphasizes the importance of developing sharia economics as a relevant alternative in achieving sustainable and equitable development.
Pengaruh Fed Funds Rate Terhadap Volatilitas Jakarta Islamic Index (JII) dengan Pendekatan GARCH-X (2020-2024) Novitasari, Evi Fitria; Hasan, Nurul Fatma
JIES : Journal of Islamic Economics Studies Vol. 7 No. 1 (2026): Februari
Publisher : Program Studi Ekonomi Islam, Fakultas Ekonomi, Universitas Hasyim Asy'ari Tebuireng

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33752/jies.v7i1.11115

Abstract

Penelitian ini bertujuan menganalisis pengaruh Federal Funds Rate (FFR) terhadap volatilitas return Jakarta Islamic Index (JII). Metodologi yang digunakan adalah pendekatan kuantitatif dengan model GARCH-X(1,1) pada data runtun waktu harian periode 2020–2024. Hasil penelitian menunjukkan bahwa FFR berpengaruh signifikan dan negatif terhadap volatilitas JII, yang berarti kenaikan FFR justru menurunkan volatilitas JII. Temuan ini mengindikasikan ketahanan (resiliensi) pasar saham syariah Indonesia terhadap guncangan kebijakan moneter AS, yang konsisten dengan karakteristik investasi syariah yang membatasi spekulasi. Model GARCH-X juga terbukti lebih unggul dibandingkan model GARCH standar, yang ditunjukkan oleh nilai Akaike Information Criterion (AIC) yang lebih rendah.