%0 Thesis
%9 Masters
%A Fadia Dini Aulia, NIM.: 19208012030
%B FAKULTAS EKONOMI DAN BISNIS ISLAM
%D 2021
%F digilib:48442
%I UIN SUNAN KALIJAGA YOGYAKARTA
%K Suku Bunga SBI, SBIS Return, Inflasi, Kebijakan Moneter
%P 107
%T ANALISIS EFEKTIVITAS INSTRUMEN MONETER KONVENSIONAL DAN SYARIAH DALAM MEMPENGARUHI STABILITAS BESARAN MONETER DI INDONESIA MENGGUNAKAN VECTOR AUTOREGRESSION (VAR) PADA PERIODE 2011-2021
%U https://digilib.uin-suka.ac.id/id/eprint/48442/
%X Monetary stability is one of the stimulus of economic growth and social  welfare. Government and central bank needs to synergize to maintain monetary  stability. A stable monetary amount is expected to be able to sustain recession and  crisis. Indonesia implemented a dual monetary system which is a conventional  monetary system and sharia monetary system which its instruments run  simultaneously. This study tries to analyze the efficiency of conventional and sharia  monetary instruments on stabilizing monetary amounts in Indonesia. We used  secondary data consisting of Bank Indonesia Certificate rate, Sharia Bank  Indonesia Certificate return, inflation, and GDP index within February 2011 until  February 2021 with 121 monthly observations using Vector Autoregression (VAR)  analysis. Results indicate that SBI rate is affected by SBI rate on second lag, SBIS  return is affected by SBI rate on third lag, SBIS return on first, second, and third  lag, and inflation is affected by inflation on first to third lag. Variables used don’t  have cointegration. Granger causality test indicates that there are one way  causality from SBIS return on SBI rate within 5% significance and inflation on SBI  rate within 10% significance. It is concluded that government and monetary  authority need not maximize monetary instruments to stimulate social welfare and  economic growth.
%Z Pembimbing: Dr. Muhammad Ghafur Wibowo, S.E., M.Sc