Open AccessThe Influence of Macroeconomics Indicators to The Growth of Sukuk in Indonesia
Author(s) -
Cupian Cupian,
Rien Muasia,
Safira Aryanti Putri
Publication year - 2020
Publication title -
equilibrium
Language(s) - English
Resource type - Journals
eISSN - 2502-8316
pISSN - 2355-0228
DOI - 10.21043/equilibrium.v8i1.5293
Subject(s) - sukuk , inflation (cosmology) , index (typography) , economics , ordinary least squares , monetary economics , affect (linguistics) , financial system , bond , state (computer science) , business , islam , islamic finance , finance , econometrics , geography , mathematics , linguistics , philosophy , physics , archaeology , theoretical physics , world wide web , computer science , algorithm
The purpose of this study is to analyze the influence of macroeconomic on the growth of Islamic bonds (sukuk) in Indonesia period 2013.1-2016.12. This study uses Ordinary Least Square (OLS) method with a monthly time series starting from January 2013 until December 2016. The results of this study indicate that the Production Index (IP) and Bank Indonesia Syariah Certificate (BSBIS) variables positively and significantly affect the development of state sukuk issuance in Indonesia, then inflation negatively and significantly affects the development of state sukuk issuance, while the JII variable negatively and does not significantly affect the development of state sukuk issuance in Indonesia.