el-Jizya: Jurnal Ekonomi Islam
Vol. 12 No. 2 (2024): el-Jizya : Jurnal Ekonomi Islam

The Influence of Islamic Capital Market Capitalization and Labor Force on the Economic Growth of Indonesia

Saputra, Deky Candra (Unknown)
Ikhsan, Muhammad (Unknown)



Article Info

Publish Date
30 Nov 2024

Abstract

Sharia capital and labor markets play an important role in driving the economy of a country, including Indonesia. Sharia capital market capitalization is a key indicator of organized economic activity and has a significant impact on the allocation of resources to economic sectors with potential for growth. On the other hand, labor is the main asset in realizing economic potential through their productivity and contribution to development. This study examines the impact of Islamic Capital Market Capitalization and Labor on Indonesia's Economic Growth. It utilizes secondary data in the form of time series data from the Central Bureau of Statistics and the Financial Services Authority for the period 2014-2022. The analysis method employed is quantitative analysis, and the Error Correction Model (ECM) is used for the analysis. The study findings indicate that:(a) The sukuk variable has a positive and significant effect on Indonesia's economic growth. (b) The Sharia mutual fund variable also has a positive and significant effect on Indonesia's economic growth. (c) The labor variable positively and significantly influences Indonesia's economic growth.

Copyrights © 2024






Journal Info

Abbrev

eljizya

Publisher

Subject

Economics, Econometrics & Finance

Description

el-Jizya: Jurnal Ekonomi Islam is a scientific journal published by Faculty of Economic and Islamic Bussiness UIN Prof. K.H. Saifuddin Zuhri Purwokerto. First printed edition was published in 2013, and since 2017 it has been published in online version. El-Jizya focuses on the study of Islamic ...