The Effect of Sharia Share, Sukuk, Sharia Mutual Funds and Exchange on the National Economic Growth

Abstract

<p><em>The thesis entitled "The Influence of Sharia Sukuk Shares, Sharia Mutual Funds and Exchange Rates Against National Economic Growth" was written by Devi Yani aims to find out how much influence sharia stocks, Sukuk, Islamic mutual funds, and exchange rates have on the national economic growth in 2013-2018. quantitative with secondary data types and data used based on time series data. Data is obtained from the financial services authority (OJK) and Bank Indonesia. The variables used in this study are national economic growth as the dependent variable (Y), with the independent variables of sharia shares (X1), Sukuk (X2), Islamic mutual funds (X3), and exchange rates (X4). Data were analyzed using multiple linear regression analysis using the SPSS application. The results showed that partially sharia shares had a negative and significant effect with a significance value of 0.006 and t count of -3.088 for national economic growth. Sukuk had a positive and significant effect with a significance value of 0.001 t count of 4.191. positive sharia mutual funds and not significant with a significance value of 0.465 and t count of 0.648. in contrast, the negative effect rate is insignificant with a significance value of 0,000 and at a count of -6,506 for economic growth. Simultaneously it shows that Islamic stocks, Sukuk, Islamic mutual funds, and exchange rates on economic growth have a positive and significant influence on the dependent variable (economic growth) with a significance value of 0,000 and F count 11,542.</em><em></em></p>

The Effect of Sharia Share, Corporate Sukuk and Sharia Mutual Fund on National Economic Growth 2013-2020

“…This shows that the variables of Sharia Share, Corporate Sukuk and Sharia Mutual Fund simultaneously have a positive and significant effect on National Economic Growth (Y). This result goes with research conducted by Yani et al (2022) and Irawan & Siregar (2019).…”

“…Which means that the Corporate Sukuk variable has a positive and significant effect on National Economic Growth. The results of this study are in line with the research of Istiyani & Nabila (2021), Yani et al (2022), Andriza et al (2021), Ariyanto & Pramono (2022), Susanti (2021) which are proving that Sukuk have a positive and significant effect on economic growth.…”

“…According to Andriza et al (2021) their result shows that Sharia mutual funds has positive and significant effect on economic growth, but not significant for Yani et al (2022). This is different from the result of Irawan & Siregar (2019) which states that Sharia mutual funds have a negative effect and insignificant on national economic growth.…”

“…There are various previous studies on the influence of sharia shares on national economic growth. According to Radjak & Kartika (2020), Ariyanto & Pramono (2022), Irawan & Siregar (2019), Sharia share has a negative and insignificant effect on national economic growth but according to Yani et al (2022), although negative result but significant effect. Susanti (2021), confirmed that sharia share does not affect the GDP of a nation.…”

“…The research's result by Istiyani & Nabila (2021), Yani et al (2022), Andriza et al (2021), Ariyanto & Pramono (2022), Susanti (2021) proves that Sukuk has a positive and significant effect on economic growth or it can be said sukuk has a strong and positive relation to national economic growth (Aprianto & Indrarini, 2021). Different result was found by Irawan & Siregar (2019), who proved that Sukuk had a negative and insignificant effect on economic growth.…”