KONTRIBUSI INSTRUMEN KEUANGAN SYARIAH TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA : KAJIAN PADA REKSADANA SYARIAH, SUKUK, PERBANKAN SYARIAH DAN SAHAM SYARIAH
Abstract
Penelitian ini mengkaji kontribusi instrumen keuangan syariah, yaitu reksa dana syariah, sukuk, perbankan syariah, dan saham syariah, terhadap pertumbuhan ekonomi di Indonesia yang diukur berdasarkan Produk Domestik Bruto (PDB). Penguatan sektor keuangan syariah dianggap sebagai komponen penting dari strategi pendalaman keuangan nasional yang bertujuan untuk mendorong pembangunan ekonomi yang inklusif dan berkelanjutan. Dengan menggunakan pendekatan kausal-komparatif kuantitatif, penelitian ini memanfaatkan data deret waktu tahunan dari tahun 2011 hingga 2024 yang diperoleh dari Otoritas Jasa Keuangan (OJK) dan Badan Pusat Statistik (BPS). Analisis regresi linier berganda diterapkan menggunakan EViews 13 untuk menilai dampak parsial dan simultan instrumen keuangan syariah terhadap pertumbuhan ekonomi. Temuan empiris menunjukkan bahwa sukuk dan perbankan syariah memiliki dampak positif dan signifikan secara statistik terhadap PDB. Hasil ini mengindikasikan bahwa kedua instrumen tersebut terkait erat dengan aktivitas sektor riil, pembiayaan pembangunan, dan perluasan investasi produktif. Sebaliknya, reksa dana syariah dan saham syariah menunjukkan hubungan negatif dan signifikan secara statistik dengan PDB, yang mengindikasikan bahwa pertumbuhannya belum diarahkan secara optimal ke arah kegiatan ekonomi produktif dan masih relatif dipengaruhi oleh dinamika pasar keuangan. Penelitian ini memberikan kontribusi pada literatur keuangan syariah dengan menyajikan bukti empiris yang spesifik per instrumen serta menunjukkan efek heterogen dari instrumen keuangan syariah terhadap pertumbuhan ekonomi. Temuan ini menawarkan implikasi kebijakan yang penting untuk memperkuat orientasi sektor riil dari instrumen keuangan syariah guna mendukung pembangunan ekonomi berkelanjutan di Indonesia secara lebih baik.
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Bayuny, A. F. R., R. Moh. Qudsi Fauzi, Sunan Fanani, & Fathiya Ni’matul ’Aisy. (2025). Board Characteristics and Firms’ Specific Variables on Capital Structure of Consumer Cyclical and Non-Cyclical Sectors of Shariah-Compliant Firms in Indonesia. Airlangga Journal of Innovation Management, 6(4), 642–659. https://doi.org/10.20473/ajim.v6i4.78549
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Published
2026-05-17
How to Cite
Mauladi, M., & Norma Rosyidah, N. (2026). KONTRIBUSI INSTRUMEN KEUANGAN SYARIAH TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA : KAJIAN PADA REKSADANA SYARIAH, SUKUK, PERBANKAN SYARIAH DAN SAHAM SYARIAH. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 10(2), 59-83. https://doi.org/10.31955/mea.v10i2.7480
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