Abstract
High and sustainable economic growth must always be pursued to promote sustainable long-term economic development, improve welfare, and change the nation's economic foundation. Economic growth influences the welfare of society and is a benchmark for every country to see the growth and development of the country's economy. Several factors can affect economic growth in Indonesia, such as Islamic capital markets, foreign debt, and exchange rates. This study was conducted to analyze the ability of the exchange rate to moderate the influence of macroeconomic factors on the rate of economic growth for the period 2011-2023. This type of study is quantitative research using Moderated Regression Analysis as an analytical tool. The data used is secondary data with a quarterly period time series pattern obtained from official websites, such as the Financial Services Authority website for Sharia stock and Sharia mutual fund data, the Bank Indonesia website for foreign debt and exchange rate data, and the Central Statistics Agency for Gross Domestic Product. The sample in this study uses saturated sampling, which takes the entire quarterly data. For analysis assisted by Eviews 12 software with the results of foreign debt has a positive but insignificant effect on the rate of economic growth, the exchange rate has a positive and significant effect on the rate of economic growth, the exchange rate is not able to moderate Islamic stocks on the rate of economic growth, and the exchange rate can moderate foreign debt on the rate of economic growth.
Published Version
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