PENGARUH ISLAMIC FINANCIAL DEEPENING TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA

MOH. MUHLIS ANWAR, NIM. 1620310117 (2018) PENGARUH ISLAMIC FINANCIAL DEEPENING TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA. Masters thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

The purpose of this research is to examine the influances of Islamic financial deepening on economic growth in Indonesia during 2010-2017. The research attempts to answer a critical question: does Islamic financial deepening influance the indonesian economic growth? The research uses the multiple regresion method by time series data. In addition, the research uses seven proxies of Islamic financial deepening, namely the depth of Islamic credit to private sector (Murabahah/GDP), the depth of deposits (Deposits/GDP), the depth of total asset (Total Aset/GDP), the depth of Islamic stock market capitalization (ISMC/GDP), the dept of Islamc stock trading volume (ISTV/GDP), the depth of Islamic government bond (IGB/GDP), the dept of Islamic corporate bond (ICB/GDP), against gross domistic product (GDP) as a proxy for economic growth The results indicate that the Islamic financial deepening simultaneously influances economic growth while partially the depth of Islamic credit, deposits, Islamic stock trading volume, Islamic government bond influence significantly on economic growth; otherwise, total aset influances negatively on economic growth, as well as the dept of Islamic stock market capitalization and Islamic corporate bond do not influence economic growth. Most of these findings are consistent with empirical studies by Ogbuagu (2017), Kagochi (2013), Afonso (2014) and other researchers. The results of this study can be considered as contribution materials to develop more inovative instruments on islamic financial deepening for encouraging the economic growth in Indonesia, especially for the government, authors and stackholders.

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