TRANSMISI KEBIJAKAN MONETER JALUR PEMBIAYAAN BANK SYARIAH DI INDONESIA
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Abstract
This research aims to examine the role of Sharia Banks on the financing
channel monetary transmission mechanism in Indonesia. Using data from
January 2014 – December 2016, this study applies Vector Error Correction
Model (VECM). Variables that represent sharia banking are third party
fund (DPK) dan financing (FIN). Variable that represents monetary policy
is rate of Central Bank Sharia Certificate (SBIS) and monthly economic
growth proxied by Industrial production Index (IPI). This research shows
that monetary policy and sharia bank have significant influence toward the
economic growth, while monetary policy has no impact to sharia bank
reserves. This result indicates that sharia banks are not affected to the
changes of Bank Indonesia monetary policy
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