%A NIM.: 21300011015 Akmal Ihsan
%O Promotor: Prof. Dr. Bambang Setiaji, M.Si. dan Prof. Dr. Syafiq Mahmadah Hanafi, M.Ag.
%T SISTEM POLITIK, PENDALAMAN KEUANGAN, DAN PERTUMBUHAN EKONOMI: BUKTI EMPIRIS DI NEGARA-NEGARA ANGGOTA ORGANISASI KERJASAMA ISLAM (OKI)
%X While the link between political systems and economic growth
has been explored, little is known about their impact in Muslim
countries. This study investigates whether democratic or monarchical
systems can foster economic growth through financial deepening. It
examines how these systems influence the relationship between
financial factors (domestic credit and liquidity) and economic growth.
Focusing on 42 out of 57 Organization of Islamic Cooperation (OIC)
member countries during 2010-2019 (excluding major crisis periods),
the study employs panel data regression with the Generalized Method
of Moments (GMM) technique. Trade openness, population, and
inflation were used as control variables. The findings reveal that
domestic credit has a surprising negative impact on economic growth
in Muslim countries, suggesting its ineffectiveness. Inflation, high
interest rates, and inefficient credit allocation are identified as
contributing factors. Conversely, liquidity shows a positive
association with growth, highlighting its potential for government
investments in infrastructure, education, and other job-creating
initiatives. Notably, both democratic and monarchical systems can
positively influence financial deepening and economic growth through
policies promoting regulatory quality, government effectiveness,
corruption control, accountability, rule of law, and conflict
prevention. These policies enhance the effectiveness of financial
deepening measures, further propelling economic growth. The
robustness of these findings is strengthened by addressing potential
endogeneity effects in the model. These insights offer valuable
recommendations for OIC member governments and shed light on the
ongoing OIC-2025 Policy Action Program.
%K Sistem Politik, Pendalaman Keuangan, Pertumbuhan Ekonomi Negara-Negara Muslim
%D 2024
%I UIN SUNAN KALIJAGA YOGYAKARTA
%L digilib63746