.: SELAMAT DATANG DI BLOG EKONOMI ISLAM SUBSTANTIF -- Blog dengan konten riset ekonomi dan keuangan syariah terdepan. :.

Senin, 03 September 2012

PROCEEDING 3RD ICIBF

PROCEEDING 3RD ICIBF, 23-26 FEBRUARY 2010, INDONESIA

Title: Transmission Mechanism on Dual Monetary System in Indonesia: Comparison Between Shariah and Conventional Instruments

Abstract:
The transmission mechanism of monetary policy has been an area of abundant economic research in many countries. The financial system links monetary policy and the real economy. Thus, events or trends that affect the financial system can also change the monetary transmission mechanism. This study tries to analyze transmission mechanism in Indonesian dual monetary system, using Vector Auto Regression (VAR) and Vector Error Correction Model (VECM) methods.
Results show that the relationship between LNIHK and shariah instruments: financing (LNFINCG), SBIS and PUAS is negative. It means, when the total of shariah financing be increase, it will gives positive contribution for reducing inflation rate in Indonesia, because with this system possibility to make equal growth among monetary and real sectors appears. Therefore, it will be strategic action for monetary authority to grow up shariah banking share in Indonesia, for minimizing ‘bad inflation’ in economy.
JEL Classification: C32, E31, E42, E52
Keywords: Transmission Mechanism, Dual Monetary System, Shariah Instruments, VAR/VECM

Tidak ada komentar:

Posting Komentar