The Analysis of Third-Party Funds, State Sukuk, and Corporate Sukuk Towards Financial Deepening in Indonesia

Abstract

Sharia-based financial institutions are being developed in Indonesia, especially in Islamic banking and Islamic capital market institutions. The role of financial institutions in economic growth in Indonesia is defined as financial deepening. This study tries to examine the variables of third party-funds, state sukuk and corporate sukuk towards financial deepening. The used research method in this research was the causality method with quantitative approach. The population in this study is Islamic banking and Islamic capital markets, which are registered at the Financial Services Authority (FSA). The sampling technique was saturation sampling. The used method in this research was descriptive-explanatory method with multiple linear regression analysis. The dependent variable in this study is financial deepening. While, the independent variable in this study are the third-party funds, corporate sukuk, and state sukuk. The results show that third-party funds affect financial deepening, state sukuk affects financial deepening, and corporate sukuk does not have any effect on financial deepening.

Sharia Banking Contribution To Financial Deeping In Supporting Indonesia Economic Recovery

“…H3: The financing variable has an impact on financial deepening. This research is a development of previous research that is related to Islamic banking variables that have been studied by Latifah (2016), Rahmadani (2017), Ridwan (2018) in Malaysia, Rachmawati et al, (2018), Mary et al, (2019), and Putri & Mubin (2021), then by Rudra (2010) in India, Ruslan (2011), Safdar (2014) in Pakistan, Okafor et al, (2016) in Nigeria, Aulia & Masbar (2016), Panjawa & Widianingrum (2018), Gezer (2018) in fourteen countries, and Utile (2018) so that the Islamic banking variable is used in analyzing financial deepening in Indonesia so that it becomes a novelty with previous research.…”

Investigation of Umrah Travel Promotion: Does It Use the MLM System? Case Study from PT. Arminareka Perdana

“…As for data processing and analysis, it uses descriptive analysis, which is a method that interprets what exists, whether existing conditions or relationships, growing opinions, or processes that have been taking place and developing (Mishra & Alok, 2017). In other words, the descriptive method gives a clear and accurate picture of the phenomenon being investigated (Mary et al, 2019). Descriptive analysis is used to find and collect, compile, use and interpret existing data (Asim & Sorooshian, 2019).…”

Determinant of Indonesia’s Gdp : Corporate Sukuk as Mediator

“…Secara tidak langsung sukuk korporasi yang merupakan intrumen investasi mempunyai dampak terhadap pertumbuhan ekonomi Hal ini sesuai dengan penelitian (Nurlaili Adkhi Rizfa Faiza, 2018) yang menyatakan bahwa sukuk korporasi memberikan pengaruh positif dan signifikan terhadap PDB. Akan tetapi, penelitian (Mary et al, 2019) menyatakan sukuk korporasi tidak berpengaruh terhadap financial deepening. Sehingga sukuk korporasi tidak berpengaruh terhadap PDB (Alvionita, 2021).…”