THE INFLUENCE OF SHARIA CAPITAL MARKETS AND INFLATION TO ECONOMY GROWTH IN INDONESIA
Abstract
The purpose of this study is to determine the influences that can increase Indonesia's economic growth in the Islamic capital market, Indonesia's market Sharia stock in the Islamic capital market is good because Indonesia has a Muslim population. Therefore, this research is expected to add to the research and consider the improvement of PMS programs and policies in related institutions. The population of this study was 300 data related to Islamic capital market data, inflation, and economic growth in Indonesia. The number of samples used was 60 samples. This research is a quantitative research that uses secondary data. The analysis method used in this research is multiple linear regression, where the analysis method includes descriptive statistical analysis, classical hypothesis testing, multiple linear analysis testing and hypothesis testing. The results showed that simultaneously stocks, bonds, mutual funds and inflation have a significant influence on Indonesia's economic growth. However, partially it shows that Islamic stocks have a positive and significant effect, Mutual funds have a negative and significant effect, Sukuk have a negative and insignificant effect, and Inflation has a negative and insignificant effect on Indonesia's economic growth. The conclusion is that the Islamic capital market both simultaneously and partially has a positive and significant and negative influence on Indonesia's economic growth.
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