Abstract
This study analyzes the development of the financial sector on economic growth in Islamic countries in twelve Islamic countries for the period of 2011-2018. This study aims to determine the effect of the sector from conventional and sharia banking or the whole on economic growth in Islamic countries and from the Islamic finance sector to economic growth in Islamic countries. This study applied panel data to estimate empirically involving 12 Islamic countries during the 2011-2018 period. This study reveals that the fixed Effect model is the best model to explain the effect of the independent variables as a whole and specifically the Islamic finance sector on the dependent variable. Overall, the results of this study indicate that the variables of interest rates, total assets of conventional banks, financing and total assets of Islamic banks have no effect on economic growth. Meanwhile, the deposit variable has a negative effect and the number of Islamic banks has a positive effect on economic growth. Furthermore, the test for the Islamic finance sector on economic growth, the financing variable and the number of sharia offices have a significant positive effect on economic growth. For the variable total assets of Islamic banks has no effect on economic growth.
Highlights
Salah satu sektor yang dapat mempengaruhi pertumbuhan ekonomi adalah sektor keuangan
This study aims to determine the effect of the sector from conventional and sharia banking or the whole on economic growth in Islamic countries and from the Islamic finance sector to economic growth in Islamic countries
This study reveals that the fixed Effect model is the best model to explain the effect of the independent variables as a whole and specifically the Islamic finance sector on the dependent variable
Summary
Populasi merupakan keseluruhan data dalam ruang lingkup dan waktu yang sudah ditentukan oleh seorang peneliti yang menjadi pusat perhatian dalam meneliti. Populasi dalam penelitian ini adalah Negara Islam yang ada di Organisasi Kerjasama Islam dalam periode 2011-2018. Sampel merupakan sebagian jumlah dan karakteristik atau wakil dari populasi yang akan diteliti. Jadi kriteria yang telah digunakan dalam pengambilan sampel dalam penelitian ini yakni: 1. Teknik Analisis Data Teknik analisis data yang digunakan dalam suatu penelitian ini adalah dengan menggunakan alat regresi data panel. Data panel itu sendiri merupakan gabungan kedua data antara antara data time series dan cross section yang terdiri dari suatu objek /individu, yang meliputi beberapa periode. Namun dalam penelitian ini periode yang digunakan adalah periode tahunan. Dalam penelitian ini digunakan 12 negara Islam yang maju yang jenis datanya meliputi dalam suatu periode tertentu yaitu tahunan yang terdiri dari tahun 20112018. Metode analisis yang digunakan dalam penelitian ini adalah regresi data panel.
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