Macroeconomic Variable and It's Influence On Performance of Indonesian Islamic Banking

The  purpose  of  this  research  is  to  analyze  the macroeconomics  variables  that  affect  to  the  performance  of  Islamic  banks  in Indonesia. Methods used in this research is the Vector Auto regressive (VAR) / Vector Error correction model (VECM) to see the effect of the shock and the long-term effect on the performance of Islamic Banking. The results show that based on the analysis of IRF, the performance of Islamic banking having short-term shocks to fluctuations in macroeconomics variables but stable in the long term, and based on the variance decomposition, shocks of macro variables only gives little effect on the performance of Islamic banking.DOI:10.15408/aiq.v7i1.135

PENGARUH INDEKS REGIONAL TERHADAP JAKARTA ISLAMIC INDEX (JII)

The objectives of this study are to analyze the influence of IHSG, Dowjones, and Nikkei to JII. The data used in this study are monthly time series data from January 2006 – May 2012. Those data are JII, IHSG, Dowjones Index and Nikkei Index. Research method used in this study is Vector Error Correction Model (VECM). The cointegration test indicates that among research variables there is long term equilibrium and simultaneous relationship. The Empirical result of Impulse Response Function shown that the effect of IHSG, DowJones and Nikkei to JII are negative.  The result on variance decomposition test had shown that the most effect of JII shock is influenced by JII itself. It can be conclude that Islamic Capital Market is more stable from the external shock rather than the conventional one.DOI: 10.15408/etk.v11i2.188

ANALISIS RESPONSIVITAS BURSA SYARIAH OLEH VARIABEL MAKRO EKONOMI

The objectives of this study are to analyze the stock responsebecause of M2, exchange rate Rupiah to Dollar and Rate of SBI. The data used in this study is monthly time series data from January 2006-May 2012. Those variabels are JII, M2, exchange rate Rupiah to Dollar and Rate of SBI. Research method used in this study is Vector Error Correction Model (VECM). The cointegration test indicates that among research variabels there is long term equilibrium and simultaneous relationship. The Empirical result of Impulse Response show that the effect of SBI discount rate and M2 is negative and the effect of exchange rate is positive. The result on variance decomposition test, show that the most effect of JII shock is influenced by JII itself.DOI: 10.15408/aiq.v4i2.254

Macroeconomic Variables, International Islamic Indices, and The Return Volatility in Jakarta Islamic Index

According to understand the behavior of Islamic equity markets the primary objective of this research is to analyze the effect of macroeconomic indicators and International Islamic Index on return volatility of Jakarta Islamic Index. The analysis method used in this study is AutoRegressive Conditional Heteroscedastic-Generalized AutoRegressive Conditional Heteroscedastic (ARCH-GARCH). The result of this research showed that all variables, i.e., BI rate, inflation rate, IDR-USD exchange rate, DJIUS index, DJIUK index, FTSJP index and FTSMY index have a simultaneously significant impact on return volatility of JII. While t-test results show that BI rate, IDR-USD exchange rate, DJIUK index and FTSMY index have a substantial effect on return volatility of JII.DOI: 10.15408/aiq.v10i1.555

ANALISIS RESPONSIVITAS BURSA SYARIAH OLEH VARIABEL MAKRO EKONOMI

The objectives of this study are to analyze the stock responsebecause of M2, exchange rate Rupiah to Dollar and Rate of SBI. The data used in this study is monthly time series data from January 2006-May 2012. Those variabels are JII, M2, exchange rate Rupiah to Dollar and Rate of SBI. Research method used in this study is Vector Error Correction Model (VECM). The cointegration test indicates that among research variabels there is long term equilibrium and simultaneous relationship. The Empirical result of Impulse Response show that the effect of SBI discount rate and M2 is negative and the effect of exchange rate is positive. The result on variance decomposition test, show that the most effect of JII shock is influenced by JII itself.DOI: 10.15408/aiq.v4i2.2548</p

Analisis Responsivitas Bursa Syariah oleh Variable Makroekonomi

The objective of this study is to analyze the stock response because of M2, exchange rate (rupiah to US dollar), and rate of SBI. The data used in this study is monthly time series data from January 2006 until May 2012. Those variables are JII, M2, exchange rate rupiah to US dollar, and rate of SBI. Research method used in this study is Vector Error Correction Model (VECM). The cointegration test indicates that among research variables there is long term equilibrium and simultaneous relationship. The empirical result of impulse response show that the effect of SBI rate and M2 are negative and the effect of exchange rat is positive. The result on variance decomposition test, show that the most effect of JII shock is influenced by JII itself.DOI: 10.15408/aiq.v4i2.2100</p

Effectiveness of Conventional and Syariah Monetary Policy Transmission

Objective - The purpose of this study is to compare the effectiveness of monetary policy transmission through conventional and Islamic instruments through the interest rate channel and profit loss sharing / margins channel, to control the price level (inflation) and economic growth (output)Method – Methodology used in this study is the Vector Auto Regressive (VAR) / Vector Error correction model (VECM) to see the effect of shock and long-term effects on inflation and output. Variables used are sbi interest rates, PUAB interest rate, deposit rates and lending rates, as well as from the Islamic side is SBIS yield, yield PUAS, profit lost sharing for the deposits and margin financing. This study use Unit Root Test, Cointegration degree of integration test, test causality, VECM and IRF estimates. Using monthly time series data from 2009 s / d 2012.Result – Results of the study showed that the test based on Granger causality, overall, the transmission channel of monetary policy according to the conventional theory, while the monetary policy transmission channel Sharia can not be clearly identified and disconnected in yield / profit and loss sharing deposits. And based on the estimated VECM is known that in the long term Islamic instruments is the right instrument to control inflation.Conclusion – This finding concluded that syariah instruments is the effective instrument in reducing inflation rate and also encourage the growth of Islamic banking, and should also consider the right margin level to increase the output on real sector. Keywords : Monetary Transmission, Central Bank, Industrial Production Index, Consumer Price Index</p

ANALISIS FAKTOR-FAKTOR YANG MEMPENGARUHI KEMISKINAN DI INDONESIA

The purpose of this study is to determine the factors that affect poverty in Indonesia. The method used in this study is a multi-linear regression, which is an analysis tool that is used to see the effect of the independent variables which are, the level of income per capita, the rate of inflation, the level of household consumption, level of education, human development index (HDI) and the poverty level as dependen variable. The data used in this study is secondary data of 33 provinces in Indonesia in 2012. From the study it can be concluded that the variable income per capita, inflation, education level human development index (HDI) and consumption  simultaneously affects variable rate of poverty, it can be seen from the test that showing the level signifkansi f <0.05. And from R square is known that the independent variable can explain the poverty rate by 56 percent and the remaining 44 percent would be explained by other variables whose not examined in this studyDOI: 10.15408/ess.v4i1.196