COVID-19 AND MACROECONOMICS: IS IT REALLY MATTER IN ISLAMIC BANK FINANCING? EVIDENCE FROM INDONESIA
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Aug 31, 2023
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Abstract
This study aims to determine the effect of COVID-19, economic growth and inflation partially and simultaneously on Islamic bank financing in Indonesia. The type of this research is quantitative using dummy variables. The population taken is Islamic commercial bank financing in Indonesia using the saturated sampling method as a research sample. The data used is secondary data and the data collection method is by accessing the annual financial statements for the period January 2015 - December 2022 on the official website of the Financial Services Authority (OJK). The analysis method used is dummy regression analysis. The results showed that the COVID-19 pandemic and GDP had a positive and significant effect on Islamic Bank financing in Indonesia, while inflation partially had no significant effect on Islamic bank financing in Indonesia. Meanwhile, simultaneously COVID-19, Inflation and GDP have a significant effect on Islamic bank financing in Indonesia.
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SYAFA’ATI, Anggun Azmi Nur; WICAKSONO, Ahmad Tibrizi Soni.
COVID-19 AND MACROECONOMICS: IS IT REALLY MATTER IN ISLAMIC BANK FINANCING? EVIDENCE FROM INDONESIA.
Proceedings of the International Conference of Islamic Economics and Business (ICONIES), [S.l.], v. 9, n. 1, p. 77-84, aug. 2023.
ISSN 2541-3333.
Available at: <http://conferences.uin-malang.ac.id/index.php/iconies/article/view/2269>. Date accessed: 02 may 2024.
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References
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Chowdhury, M. A. F., Haque, M. M., & Masih, M. (2017). Re-Examining the Determinants of Islamic Bank Performance: New Evidence from Dynamic GMM, Quantile Regression, and Wavelet Coherence Approaches. Emerging Markets Finance and Trade, 53(7), 1519–1534.
https://doi.org/10.1080/1540496X.2016.1250076
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El Ayyubi, S., Anggraeni, L., & Mahiswari, A. D. (2018). Pengaruh Bank Syariah terhadap Pertumbuhan Ekonomi di Indonesia. Al-Muzara’ah, 5(2), 88–106. https://doi.org/10.29244/jam.5.2.88-106
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Khasanah, U., & Wicaksono, A. T. S. (2021). Intermediary performance of Islamic banks in the disruption era: Does it contribute to economic growth? Banks and Bank Systems, 16(1), 103–115. https://doi.org/10.21511/bbs.16(1).2021.10
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Menne, F., Surya, B., Yusuf, M., Suriani, S., Ruslan, M., & Iskandar, I. (2022). Optimizing the Financial Performance of SMEs Based on Sharia Economy: Perspective of Economic Business Sustainability and Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity, 8(1), 18. https://doi.org/10.3390/joitmc8010018
Mufraini, M. A., Murodi, M., & WICAKSONO, A. T. S. (2021). The Efficiency of Human Resources Management During the Disruption and Pandemic Era. The Journal of Asian Finance, Economics and Business, 8(6), 437–446.
https://doi.org/10.13106/jafeb.2021.vol8.no6.0437
Mulazid, A. S., Arief Mufraini, M., Saharuddin, D., & Wicaksono, A. T. S. (2020). Attributes of islamic bank service quality: A survey to map metropolitan customer satisfaction. International Journal of Business and Society, 21(2), 883–897.
https://doi.org/10.33736/ijbs.3300.2020
Nasir, Mohammad D. A., & Khomariyah, N. (2021). Faktor-Faktor Yang Mempengaruhi Pembiayaan Bermasalah Pada Bank Syariah di Indonesia Dengan Pendekatan Error Correction Model. Jurnal Syarikah, Volume 7 N, 76–84.
OJK. (2020). Statistik Perbankan Syariah. Otoritas Jasa Keuangan. https://www.ojk.go.id
Ponziani, R. M. , & Mariyanti, T. (2020). Islamic Bank and Monetary Policy: The Case of Indonesia. International Journal of Islamic Economics and Finance (IJIEF), 3(1), 121–142. https://doi.org/10.18196/ijief.2124
Putri, R. R. (2020). Pengaruh Kurs Dan Produk Domestik Bruto Terhadap Pembiayaan Perbankan Syariah Di Indonesia. ADL ISLAMIC ECONOMIC : Jurnal Kajian Ekonomi Islam, 1(1), 65–80. https://doi.org/10.56644/adl.v1i1.7
Rudy Widodo, Galih Adhidharma, M. A. R. (2022). Prediksi Pertumbuhan Perbankan Syariah Di Indonesia Tahun 2022. Jurnal Tabarru’, Volume 5(islamic Banking and Finance). https://journal.uir.ac.id/index.php/tabarru/article/view/8192/3923
Rusydiana, A. S. (2019). Prediksi Pertumbuhan Perbankan Syariah Di Indonesia Tahun 2020 Dengan Quantitative Methods. Jurnal Ekonomi Syariah, 4(2).
https://doi.org/10.37058/jes.v4i2.1154
Salim, A., & Fadilla. (2021). Pengaruh Inflasi Terhadap Pertumbuhan Ekonomi Indonesia Anggun Purnamasari. Ekonomica Sharia: Jurnal Pemikiran Dan Pengembangan Ekonomi Syariah, 7(1), 17–28. www.bps.go.id,
Salsabila, R., Wicaksono, A. T. S., & Shamakov, N. (2022). The Role of Early Warning System Components in Financial Distress: Evidence from Indonesian Islamic Banks. Maliki Islamic Economics Journal, 2(2), 123–138. https://doi.org/10.18860/miec.v2i2.18977
Saputri, O. B. (2020). Pemetaan potensi indonesia sebagai pusat industri halal dunia. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 5(2), 23–38. http://journal.um-surabaya.ac.id/index.php/Mas/article/view/5127/4010
Wibowo, M. G., & Mubarok, A. (2018). Analisis Efektivitas Transmisi Moneter Ganda Terhadap Pertumbuhan Ekonomi Indonesia. Jurnal Ekonomi Pembangunan, 25(2), 127–139. https://doi.org/10.14203/jep.25.2.2017.127-139
Wicaksono, A. T. S. (2022). Islamic Bank Deposits during COVID-19 Pandemic: A Spatial Finance Approach. Jurnal Ekonomi Malaysia, 56(1), 135–149. https://doi.org/10.17576/JEM-2022-5601-10
Zelvia, R. (2017). Penerapan Analisis Regresi Dummy Pada Data Kualitatif Kasus Ekonomi. Adzkiya : Jurnal Hukum Dan Ekonomi Syariah, 5(1), 45.
https://doi.org/10.32332/adzkiya.v5i1.804
Albanjari, F. R., & Prihatin, R. (2021). Analisa Dampak Kebijakan Pemerintah Terhadap Kinerja Keuangan Bank Umum Syariah di Indonesia Pada Era Pandemi Corona Virus Disease-19. Journal of Islamic, 1(1), 9–19.
http://journal.umpo.ac.id/index.php/MUSYROKAH/article/view/3851
Alexander Barta, Jorim Gerrard, J. S. & F. Z. (2021). Inflation in economic theory. In Exploring Economics, (Issue Macroeconomics, Money & Debt). https://www.exploring-economics.org/en/discover/inflation/
Amir Hamzah. (2018). Pengaruh Faktor Makro Ekonomi Terhadap Pembiayaan Bermasalah (Penelitian Pada Bank Umum Syariah di Indonesia Tahun 2010-2017). Journal of Islamic Finance and Accounting, 1(2), 73–90. http://ejournal.iainsurakarta.ac.id/index.php/jifa
Bachtiar, S. (2019). Peranan perbankan dalam meningkatkan perekonomian indonesia. Jurnal Ekonomi, 6(2), 136–146.
BI. (2020). Survei Harga Properti Residensial.
BPS. (2020). Statistik Produk Domestik Bruto (PDB). Badan Pusat Statistik. https://bps.go.id
Caporale, G. M., & Helmi, M. H. (2018). Islamic banking, credit, and economic growth: Some empirical evidence. International Journal of Finance and Economics, 23(4), 456–477. https://doi.org/10.1002/ijfe.1632
Cham, T. (2018). Determinants of Islamic banking growth: an empirical analysis. International Journal of Islamic and Middle Eastern Finance and Management, 11(1), 18–39. https://doi.org/10.1108/IMEFM-01-2017-0023
Charisma, D. (2021). Portrait Of The Performance Of Indonesian Sharia Bank (Bsi) In Developing The Halal Industry In Indonesia. Jurnal Pemikiran Dan Penelitian Administrasi Bisnis Dan Kewirausahaan, 6 No 3(6), 1–13.
Chowdhury, M. A. F., Haque, M. M., & Masih, M. (2017). Re-Examining the Determinants of Islamic Bank Performance: New Evidence from Dynamic GMM, Quantile Regression, and Wavelet Coherence Approaches. Emerging Markets Finance and Trade, 53(7), 1519–1534.
https://doi.org/10.1080/1540496X.2016.1250076
El-Chaarani, H., Ismail, T. H., El-Abiad, Z., & El-Deeb, M. S. (2022). The impact of COVID-19 on financial structure and performance of Islamic banks: a comparative study with conventional banks in the GCC countries. Journal of Economic and Administrative Sciences.
El Ayyubi, S., Anggraeni, L., & Mahiswari, A. D. (2018). Pengaruh Bank Syariah terhadap Pertumbuhan Ekonomi di Indonesia. Al-Muzara’ah, 5(2), 88–106. https://doi.org/10.29244/jam.5.2.88-106
Febrianti, S. E. (2015). Analisis Pengaruh Pertumbuhan Gdp, Inflasi, Bi Rate Dan Nilai Tukar Terhadap Kredit Bermasalah Pada Bank Konvensional Dan Bank Syariah Jurnal Ilmiah. In Universitas Brawijaya. http://repository.ub.ac.id/107784/
Gheeraert, L., & Weill, L. (2015). Does Islamic banking development favor macroeconomic efficiency? Evidence on the Islamic finance-growth nexus. Economic Modelling, 4, 3–32. https://doi.org/10.1016/j.econmod.2015.02.012
Hanafi, R., Rohman, A., & Sutapa, S. (2022). Islamic Bank Resilience: Financial and Sharia Performance During Covid-19 Pandemic in Indonesia. Jurnal Ekonomi, 3, 18–30. https://muqtasid.iainsalatiga.ac.id/index.php/muqtasid/article/view/6290
Haryono, N. (2022). Pengaruh Inflasi Terhadap Pembiayaan Murabahah Pada Bank Umum Syariah di Masa Pandemi Covid-19. Jurnal Ilmiah Ekonomi Islam, 8(02), 1737–1743. http://dx.doi.org/10.29040/jiei.v8i2.5774
Ilyas, R. (2015). Konsep Pembiayaan Dalam Perbankan Syari’Ah. Jurnal Penelitian, 9(1), 183–204. https://doi.org/10.21043/jupe.v9i1.859
Khasanah, U., & Wicaksono, A. T. S. (2021). Intermediary performance of Islamic banks in the disruption era: Does it contribute to economic growth? Banks and Bank Systems, 16(1), 103–115. https://doi.org/10.21511/bbs.16(1).2021.10
Lin, H.-Y., Farhani, N. H., & Koo, M. (2016). The Impact of Macroeconomic Factors on Credit Risk in Conventional Banks and Islamic Banks: Evidence from Indonesia. International Journal of Financial Research, 7(4). https://doi.org/10.5430/ijfr.v7n4p105
Menne, F., Surya, B., Yusuf, M., Suriani, S., Ruslan, M., & Iskandar, I. (2022). Optimizing the Financial Performance of SMEs Based on Sharia Economy: Perspective of Economic Business Sustainability and Open Innovation. Journal of Open Innovation: Technology, Market, and Complexity, 8(1), 18. https://doi.org/10.3390/joitmc8010018
Mufraini, M. A., Murodi, M., & WICAKSONO, A. T. S. (2021). The Efficiency of Human Resources Management During the Disruption and Pandemic Era. The Journal of Asian Finance, Economics and Business, 8(6), 437–446.
https://doi.org/10.13106/jafeb.2021.vol8.no6.0437
Mulazid, A. S., Arief Mufraini, M., Saharuddin, D., & Wicaksono, A. T. S. (2020). Attributes of islamic bank service quality: A survey to map metropolitan customer satisfaction. International Journal of Business and Society, 21(2), 883–897.
https://doi.org/10.33736/ijbs.3300.2020
Nasir, Mohammad D. A., & Khomariyah, N. (2021). Faktor-Faktor Yang Mempengaruhi Pembiayaan Bermasalah Pada Bank Syariah di Indonesia Dengan Pendekatan Error Correction Model. Jurnal Syarikah, Volume 7 N, 76–84.
OJK. (2020). Statistik Perbankan Syariah. Otoritas Jasa Keuangan. https://www.ojk.go.id
Ponziani, R. M. , & Mariyanti, T. (2020). Islamic Bank and Monetary Policy: The Case of Indonesia. International Journal of Islamic Economics and Finance (IJIEF), 3(1), 121–142. https://doi.org/10.18196/ijief.2124
Putri, R. R. (2020). Pengaruh Kurs Dan Produk Domestik Bruto Terhadap Pembiayaan Perbankan Syariah Di Indonesia. ADL ISLAMIC ECONOMIC : Jurnal Kajian Ekonomi Islam, 1(1), 65–80. https://doi.org/10.56644/adl.v1i1.7
Rudy Widodo, Galih Adhidharma, M. A. R. (2022). Prediksi Pertumbuhan Perbankan Syariah Di Indonesia Tahun 2022. Jurnal Tabarru’, Volume 5(islamic Banking and Finance). https://journal.uir.ac.id/index.php/tabarru/article/view/8192/3923
Rusydiana, A. S. (2019). Prediksi Pertumbuhan Perbankan Syariah Di Indonesia Tahun 2020 Dengan Quantitative Methods. Jurnal Ekonomi Syariah, 4(2).
https://doi.org/10.37058/jes.v4i2.1154
Salim, A., & Fadilla. (2021). Pengaruh Inflasi Terhadap Pertumbuhan Ekonomi Indonesia Anggun Purnamasari. Ekonomica Sharia: Jurnal Pemikiran Dan Pengembangan Ekonomi Syariah, 7(1), 17–28. www.bps.go.id,
Salsabila, R., Wicaksono, A. T. S., & Shamakov, N. (2022). The Role of Early Warning System Components in Financial Distress: Evidence from Indonesian Islamic Banks. Maliki Islamic Economics Journal, 2(2), 123–138. https://doi.org/10.18860/miec.v2i2.18977
Saputri, O. B. (2020). Pemetaan potensi indonesia sebagai pusat industri halal dunia. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 5(2), 23–38. http://journal.um-surabaya.ac.id/index.php/Mas/article/view/5127/4010
Wibowo, M. G., & Mubarok, A. (2018). Analisis Efektivitas Transmisi Moneter Ganda Terhadap Pertumbuhan Ekonomi Indonesia. Jurnal Ekonomi Pembangunan, 25(2), 127–139. https://doi.org/10.14203/jep.25.2.2017.127-139
Wicaksono, A. T. S. (2022). Islamic Bank Deposits during COVID-19 Pandemic: A Spatial Finance Approach. Jurnal Ekonomi Malaysia, 56(1), 135–149. https://doi.org/10.17576/JEM-2022-5601-10
Zelvia, R. (2017). Penerapan Analisis Regresi Dummy Pada Data Kualitatif Kasus Ekonomi. Adzkiya : Jurnal Hukum Dan Ekonomi Syariah, 5(1), 45.
https://doi.org/10.32332/adzkiya.v5i1.804