DETERMINAN VARIABEL MAKROEKONOMI TERHADAP PEMBIAYAAN MUDHARABAH PERBANKAN SYARIAH INDONESIA: ANALISIS ERROR CORRECTION MODEL (ECM)
DOI:
https://doi.org/10.32332/finansia.v5i01.4531Keywords:
Makro Ekonomi, Pembiayaan Mudharabah, Perbankan SyariahAbstract
This study intends to investigate the impact of macroeconomic factors such as inflation, the BI rate, the exchange rate, and the Money Supply (JUB) on Islamic banking's mudharabah financing, which includes all Islamic Commercial Banks (BUS) and Sharia Business Units (UUS) in Indonesia. The Error Correction Model (ECM) analysis was used to identify the short- and long-term effects of the independent variable on the dependent variable. During the monthly period of 2016-2021, secondary data was gathered from Sharia Banking Statistics (SPS) OJK, Central Statistics Agency (BPS), and Bank Indonesia (BI). The data show that only the Money Supply (JUB) has an influence on internal mudharabah financing in the near term, whereas the other three factors, such as inflation, BI rate, and interest rate, have no effect.
References
Arnan, Sendi Gusnandar, and Imas Kurniawasih. “Pengaruh Jumlah Dana Pihak Ketiga Dan Tingkat Non- Performing Financing Terhadap Pembiayaan,” 2014.
Chapra, Muhammed Umer. Towards A Just Monetary System. London: The Islamic Foundation, 1985.
Destiana, Rina. “Analisis Dana Pihak Ketiga Dan Risiko Terhadap Pembiayaan Mudharabah Dan Musyarakah Pada Bank Syariah Di Indonesia” XVII, no. 2 (2016): 42–54.
Doktoralina, Caturida Meiwanto, and Fikki Mutarotun Nisha. “Mudharabah Deposits among Conventional Bank Interest Rates, Profit-Sharing Rates, Liquidity and Inflation Rates.” International Journal of Financial Research 11, no. 1 (2020): 25–33. https://doi.org/10.5430/ijfr.v11n1p25.
Dornbusch, Rudiger, Ricard Startz, and Stanley Fischer. Makroekonomi. Jakarta: Media Global Edukasi, 2004.
Dwijayanty, Rima. “Dampak Variabel Makro Ekonomi Terhadap Permintaan Pembiayaan Murabahah Perbankan Syariah.” Jurnal Riset Akuntansi Dan Keuangan 5, no. 1 (2017): 1349–56. https://doi.org/10.17509/jrak.v5i1.6735.
Hamzah, Amir. “Pengaruh Faktor Makro Ekonomi Terhadap Pembiayaan Bermasalah (Penelitian Pada Bank Umum Syariah Di Indonesia Tahun 2010-2017)” 1, no. 2 (2018). https://doi.org/https://dx.doi.org/10.22515/jifa.v1i2.1416.
Indonesia, Bank. “Metadata Informasi Dasar,” 2016.
Innayatul Asfiyah. “Implementasi Produk Pembiayaan Multijasa PT. BPRS PNM Binama Semarang.” IAIN Walisongo, 2015.
Maghfuriyah, Alfi, S. M. Ferdous Azam, and Sakinah Shukri. “Market Structure and Islamic Banking Performance in Indonesia: An Error Correction Model.” Management Science Letters 9, no. 9 (2019): 1407–18. https://doi.org/10.5267/j.msl.2019.5.010.
Mishkin, Frederic S. Principles of Economics. 8th ed. Newyork: Cosimo, 2009.
Mishkin, Frederic S. The Economic of Money, Banking, and Financial Markets. 8th ed. Jakarta: Salemba Empat, 2008.
Mubarok, Faizul. “Acceleration of Islamic Bank Financing in Indonesian Agriculture Sector.” Shirkah: Journal of Economics and Business 6, no. 2 (2021): 185. https://doi.org/10.22515/shirkah.v6i2.341.
Nafis, Rifqi Khuamirotun, and Heri Sudarsono. “Faktor –Faktor Yang Mempengaruhi Pembiayaan Mudharabah Pada Bank Umum Syariah Di Indonesia.” Jurnal Ilmiah Ekonomi Islam 7, no. 1 (2021): 164. https://doi.org/10.29040/jiei.v7i1.1614.
Nurhayati, S & Wasilah. Akuntansi Syariah Di Indonesia. Jakarta: Salemba Empat, 2015.
Nurrochman, Isnu. “Analisis Faktor-Faktor Yang Mempengaruhi Pembiayaan Pada Bank Umum Syariah.” Universitas Diponogoro, 2016.
OJK. “SPS Perbankan Syariah 2020.” Journal of Chemical Information and Modeling, 2021.
Qaisar, Ali, Selamah Maamor, Hakimah Yaacob, and Muhammad Usman Tariq Gill. “Impact of Macroeconomic Variables on Islamic Banks Profitability.” Journal of Accounting and Applied Business Research Vol. 01, no. 2 (2018): 1–16.
Qonitah Qotrun Nuha, Vista & Mulazid, Sofyan. “Pengaruh NPF, BOPO Dan Pembiayaan Bagi Hasil Terhadap Profitabilitas Bank Umum Syariah Di Indonesia.” Al-Uqud: Journal of Islamic Economics 2, no. 2 (2018): 168–82.
Rehman, Zia Ur, Muhammad Zahid, Haseeb Ur Rahman, Muhammad Asif, Majed Alharthi, Muhammad Irfan, and Adam Glowacz. “Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan.” Sustainability (Switzerland) 12, no. 8 (2020). https://doi.org/10.3390/SU12083302.
Rifai, Syukuri Ahmad, Helmi Susanti, and Aisyah Setyaningrum. “Analisis Pengaruh Kurs Rupiah , Laju Inflasi , Jumlah Uang Beredar Dan Pertumbuhan Ekspor Terhadap Total Pembiayaan Perbankan Syariah Dengan Dana Pihak Ketiga Sebagai Variabel Moderating” 8, no. 1 (2017): 13–27.
Rivai, Veithal, Andria Permata Veithzal, and Ferry N Idroes. Bank and Financial Institution Management. Jakarta: PT Raja Grafindo Persada, 2007.
Rudiansyah, Afif. “Pengaruh Inflasi, Bi Rate, Pdb Dan Nilai Tukar Rupiah Terhadap Simpanan Mudharabah Pada Bank Syariah Di Indonesia.” Jurnal Ilmu Manajemen (JIM) 2, no. 2 (2014).
Salma Fathia Ma’arifa, Iwan Budiyono. “Analisis Pengaruh Dana Pihak Ketiga, Sertifikat Bank Indonesia Syariah, BI Rate, Dan Inflasi Terhadap Pembiayaan Mudharabah Perbankan Syariah Di Indonesia.” Jurnal.Polines.Ac.Id 5, no 1 ta (2015).
Sovia, Rini, Musli Yanto, Rima Liana Gema, and Rizki Fernando. “Bank Indonesia Interest Rate Prediction and Forecast With Backpropagation Neural Network,” 429–35. Bandung: International Conference on Information Technology Systems and Innovation (ICITSI), 2018.
Susana, Erni, and Annisa Prasetyani. “Pelaksanaan Dan Sistem Bagi Hasil Pembiayaan Al-Mudharabah Pada Bank Syariah” 15, no. 3 (2011): 466–78.
Swandayani, Desi Marilin, and Rohmawati Kusumaningtias. “Pengaruh Inflasi, Suku Bunga, Nilai Tukar Valas Dan Jumlah Uang Beredar Terhadap Profitabilitas Pada Perbankan Syariah Di Indonesia Periode 2005-2009” 3, no. 2 (2012): 147–66.
Thaker, Hassanudin Mohd Thas, Tan Siew Ee, and Wong Hui Man. “The Macroeconomic Determinans of Bank Credit in Malaysia an Analysis Via The Error Correction Model (ECM).” Skyline Bussines Journal IX, no. 1 (2014).
Tumewang, Yunice Karina, Rindang Nuri Isnaini, and Jannatul Liutammima Musta’in. “The Impact of Macro Economy toward Profitability of Islamic Bank.” Asian Journal of Islamic Management (AJIM) 1, no. 2 (2019): 101–8. https://doi.org/10.20885/ajim.vol1.iss2.art4.
Wahid, Nazaruddin A. “Pengaruh Stabilitas Uang Kertas Terhadap Inflasi Ditinjau Menurut Fiqh Muamalah” 3, no. 1 (2014): 56–79.
Wasilah Nurhayati, Sri. Akuntansi Syariah Di Indonesia. Jakarta: Salemba Empat, 2018.
Yulianto, Agung, and Badingus Solikhah. “The Internal Factors of Indonesian Sharia Banking to Predict The Mudharabah Deposits.” Review of Integrative Business and Economics Research 5, no. 1 (2016): 210–18.
Zulfiah, Fitri, and Joni Susilowibowo. “Pengaruh Inflasi, BI Rate, Capital Adequacy Ratio (CAR), Non Performing Finance (NPF), Biaya Operasional Dan Pendapatan Operasional (BOPO) Terhadap Profitabilitas Bank Umum Syariah Periode 2008-2012.” Jurnal Ilmu Manajemen 2, no. 3 (2014): 759–70.
Chapra, Muhammed Umer. Towards A Just Monetary System. London: The Islamic Foundation, 1985.
Destiana, Rina. “Analisis Dana Pihak Ketiga Dan Risiko Terhadap Pembiayaan Mudharabah Dan Musyarakah Pada Bank Syariah Di Indonesia” XVII, no. 2 (2016): 42–54.
Doktoralina, Caturida Meiwanto, and Fikki Mutarotun Nisha. “Mudharabah Deposits among Conventional Bank Interest Rates, Profit-Sharing Rates, Liquidity and Inflation Rates.” International Journal of Financial Research 11, no. 1 (2020): 25–33. https://doi.org/10.5430/ijfr.v11n1p25.
Dornbusch, Rudiger, Ricard Startz, and Stanley Fischer. Makroekonomi. Jakarta: Media Global Edukasi, 2004.
Dwijayanty, Rima. “Dampak Variabel Makro Ekonomi Terhadap Permintaan Pembiayaan Murabahah Perbankan Syariah.” Jurnal Riset Akuntansi Dan Keuangan 5, no. 1 (2017): 1349–56. https://doi.org/10.17509/jrak.v5i1.6735.
Hamzah, Amir. “Pengaruh Faktor Makro Ekonomi Terhadap Pembiayaan Bermasalah (Penelitian Pada Bank Umum Syariah Di Indonesia Tahun 2010-2017)” 1, no. 2 (2018). https://doi.org/https://dx.doi.org/10.22515/jifa.v1i2.1416.
Indonesia, Bank. “Metadata Informasi Dasar,” 2016.
Innayatul Asfiyah. “Implementasi Produk Pembiayaan Multijasa PT. BPRS PNM Binama Semarang.” IAIN Walisongo, 2015.
Maghfuriyah, Alfi, S. M. Ferdous Azam, and Sakinah Shukri. “Market Structure and Islamic Banking Performance in Indonesia: An Error Correction Model.” Management Science Letters 9, no. 9 (2019): 1407–18. https://doi.org/10.5267/j.msl.2019.5.010.
Mishkin, Frederic S. Principles of Economics. 8th ed. Newyork: Cosimo, 2009.
Mishkin, Frederic S. The Economic of Money, Banking, and Financial Markets. 8th ed. Jakarta: Salemba Empat, 2008.
Mubarok, Faizul. “Acceleration of Islamic Bank Financing in Indonesian Agriculture Sector.” Shirkah: Journal of Economics and Business 6, no. 2 (2021): 185. https://doi.org/10.22515/shirkah.v6i2.341.
Nafis, Rifqi Khuamirotun, and Heri Sudarsono. “Faktor –Faktor Yang Mempengaruhi Pembiayaan Mudharabah Pada Bank Umum Syariah Di Indonesia.” Jurnal Ilmiah Ekonomi Islam 7, no. 1 (2021): 164. https://doi.org/10.29040/jiei.v7i1.1614.
Nurhayati, S & Wasilah. Akuntansi Syariah Di Indonesia. Jakarta: Salemba Empat, 2015.
Nurrochman, Isnu. “Analisis Faktor-Faktor Yang Mempengaruhi Pembiayaan Pada Bank Umum Syariah.” Universitas Diponogoro, 2016.
OJK. “SPS Perbankan Syariah 2020.” Journal of Chemical Information and Modeling, 2021.
Qaisar, Ali, Selamah Maamor, Hakimah Yaacob, and Muhammad Usman Tariq Gill. “Impact of Macroeconomic Variables on Islamic Banks Profitability.” Journal of Accounting and Applied Business Research Vol. 01, no. 2 (2018): 1–16.
Qonitah Qotrun Nuha, Vista & Mulazid, Sofyan. “Pengaruh NPF, BOPO Dan Pembiayaan Bagi Hasil Terhadap Profitabilitas Bank Umum Syariah Di Indonesia.” Al-Uqud: Journal of Islamic Economics 2, no. 2 (2018): 168–82.
Rehman, Zia Ur, Muhammad Zahid, Haseeb Ur Rahman, Muhammad Asif, Majed Alharthi, Muhammad Irfan, and Adam Glowacz. “Do Corporate Social Responsibility Disclosures Improve Financial Performance? A Perspective of the Islamic Banking Industry in Pakistan.” Sustainability (Switzerland) 12, no. 8 (2020). https://doi.org/10.3390/SU12083302.
Rifai, Syukuri Ahmad, Helmi Susanti, and Aisyah Setyaningrum. “Analisis Pengaruh Kurs Rupiah , Laju Inflasi , Jumlah Uang Beredar Dan Pertumbuhan Ekspor Terhadap Total Pembiayaan Perbankan Syariah Dengan Dana Pihak Ketiga Sebagai Variabel Moderating” 8, no. 1 (2017): 13–27.
Rivai, Veithal, Andria Permata Veithzal, and Ferry N Idroes. Bank and Financial Institution Management. Jakarta: PT Raja Grafindo Persada, 2007.
Rudiansyah, Afif. “Pengaruh Inflasi, Bi Rate, Pdb Dan Nilai Tukar Rupiah Terhadap Simpanan Mudharabah Pada Bank Syariah Di Indonesia.” Jurnal Ilmu Manajemen (JIM) 2, no. 2 (2014).
Salma Fathia Ma’arifa, Iwan Budiyono. “Analisis Pengaruh Dana Pihak Ketiga, Sertifikat Bank Indonesia Syariah, BI Rate, Dan Inflasi Terhadap Pembiayaan Mudharabah Perbankan Syariah Di Indonesia.” Jurnal.Polines.Ac.Id 5, no 1 ta (2015).
Sovia, Rini, Musli Yanto, Rima Liana Gema, and Rizki Fernando. “Bank Indonesia Interest Rate Prediction and Forecast With Backpropagation Neural Network,” 429–35. Bandung: International Conference on Information Technology Systems and Innovation (ICITSI), 2018.
Susana, Erni, and Annisa Prasetyani. “Pelaksanaan Dan Sistem Bagi Hasil Pembiayaan Al-Mudharabah Pada Bank Syariah” 15, no. 3 (2011): 466–78.
Swandayani, Desi Marilin, and Rohmawati Kusumaningtias. “Pengaruh Inflasi, Suku Bunga, Nilai Tukar Valas Dan Jumlah Uang Beredar Terhadap Profitabilitas Pada Perbankan Syariah Di Indonesia Periode 2005-2009” 3, no. 2 (2012): 147–66.
Thaker, Hassanudin Mohd Thas, Tan Siew Ee, and Wong Hui Man. “The Macroeconomic Determinans of Bank Credit in Malaysia an Analysis Via The Error Correction Model (ECM).” Skyline Bussines Journal IX, no. 1 (2014).
Tumewang, Yunice Karina, Rindang Nuri Isnaini, and Jannatul Liutammima Musta’in. “The Impact of Macro Economy toward Profitability of Islamic Bank.” Asian Journal of Islamic Management (AJIM) 1, no. 2 (2019): 101–8. https://doi.org/10.20885/ajim.vol1.iss2.art4.
Wahid, Nazaruddin A. “Pengaruh Stabilitas Uang Kertas Terhadap Inflasi Ditinjau Menurut Fiqh Muamalah” 3, no. 1 (2014): 56–79.
Wasilah Nurhayati, Sri. Akuntansi Syariah Di Indonesia. Jakarta: Salemba Empat, 2018.
Yulianto, Agung, and Badingus Solikhah. “The Internal Factors of Indonesian Sharia Banking to Predict The Mudharabah Deposits.” Review of Integrative Business and Economics Research 5, no. 1 (2016): 210–18.
Zulfiah, Fitri, and Joni Susilowibowo. “Pengaruh Inflasi, BI Rate, Capital Adequacy Ratio (CAR), Non Performing Finance (NPF), Biaya Operasional Dan Pendapatan Operasional (BOPO) Terhadap Profitabilitas Bank Umum Syariah Periode 2008-2012.” Jurnal Ilmu Manajemen 2, no. 3 (2014): 759–70.
Downloads
Published
2022-06-18
Issue
Section
Articles
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
