SIGNIFIKANSI PERAN PERBANKAN SYARIAH TERHADAP SEKTOR RIIL DI INDONESIA
Abstract
Islamic banking industry in Indonesia has demonstrated positive growth for the last two decades. This paper attempts to investigate the impact of this convincing performance of Islamic bank and conventional counterpart on a major macroeconomic variable, namely output, by using VAR/VECM analysis. The research utilizes monthly data of industrial production index (IPI), total Islamic deposit and its return, total coventional deposit and its interest rate, Islamic financing and its return, total coventional loan and its interest rate, Islamic Central Bank Certificate, and Central Bank Certificate from January 2004 until December 2009. The findings suggest that all Islamic and conventional variables have significant impact on the real sector growth. But, interest rate in conventional bank give negative effect for IPI. However, the use of interest rate as benchmarking for Islamic deposit and Islamic Central Bank Certificate is not suggested.
Moraref