EKONOMIS : Journal of Economics and Business
Vol 10, No 2 (2026): September

Peran Sukuk Korporasi, Reksa Dana Syariah, dan Pembiayaan Syariah dalam Mendorong Pertumbuhan Ekonomi Indonesia: Bukti Empiris Periode 2011–2024

Siska Aulia Putri (Universitas Jember)
Lilis Yuliati (Universitas Jember)
Ati Musaiyaroh (Universitas Madani Indonesia)



Article Info

Publish Date
01 Sep 2026

Abstract

This study aims to analyze the effect of corporate sukuk, Islamic mutual funds, and Islamic financing on Indonesia’s economic growth for the period 2011–2024. The research employs a quantitative approach using the Autoregressive Distributed Lag (ARDL) model on quarterly data obtained from Statistics Indonesia and the Financial Services Authority. The estimation results show that corporate sukuk has a positive and significant effect on economic growth in both the short run and the long run. Islamic financing has a positive and significant effect in the long run, but a negative and significant effect in the short run. Meanwhile, Islamic mutual funds do not show a significant effect in either the short run or the long run. These findings support the Finance-Led Growth Theory for corporate sukuk and Islamic financing, but not fully for Islamic mutual funds. This study highlights the importance of improving the quality of Islamic financial intermediation so that asset growth can optimally drive the real sector and national economic growth

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Journal Info

Abbrev

ojsekonomis

Publisher

Subject

Economics, Econometrics & Finance

Description

Ekonomis: Journal of Economics and Business diterbitkan oleh Lembaga Penelitian dan Pengabdian pada Masyarakat Universitas Batanghari Jambi, Jurnal ini mencakup bidang ilmu Ekonomi Manajemen, Ekonomi Pembangunan, Akuntansi dan Bisnis. Ekonomis: Journal of Economics and Business Jurnal ini ...