MACROECONOMICS TERHADAP FINANCIAL STABILITY: STUDI PADA DUAL BANKING SYSTEM DI INDONESIA

Maylady Nanda Pratama, NIM.: 18208010033 (2020) MACROECONOMICS TERHADAP FINANCIAL STABILITY: STUDI PADA DUAL BANKING SYSTEM DI INDONESIA. Masters thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

Financial Stability is a financial system condition able to mitigate financial crisis emerges spontaneously and able to sustainably carry out its operational activities during that period. Measurement of financial stability is from the Composite Financial Stability Index (CFSI), with several indicators, namely the Bank Soundness Index (BSI), the Financial Vulnerability Index (FVI) and the Regional Economic Climate Index (RECI). Indonesia uses a dual banking system, conventional banking and Islamic banking. Interest system and the profit sharing system. Analyze the financial stability of Indonesian banking in terms of external (exogenous) factors. This study uses external factors of financial institutions using macroeconomics variables. Reason this study choosing the macroeconomics variable is because this variable has a very important and significant impact on the financial stability system. Macroeconomic variable indicators research uses BI-rate, inflation, M2 money supply, and the Composite Stock Price Index (IHSG) for the period 2010-2019. Analysis method on this research using by Vector Error Correlation (VECM). Results of this study is only the money supply variable (M2) which had a significant influence. Money supply (M2) has a significant positive effect on the financial stability of Indonesian banks, while Composite Stock Price Index (IHSG) has a significant negative effect on the financial stability of Indonesian banks. Conclusion on this research is Composite Stock Price Index (IHSG) variable is in accordance with the alternative hypothesis of both conventional banking and Islamic banking.

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