Analisis Transaksi Perbankan Syariah Melalui Sistem Bank Indonesia–Real Time Gross Settlement (Sistem BI-RTGS) Terhadap Pertumbuhan Ekonomi: Generalized Method Of Moment
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Published
May 12, 2024
Abstract
Transaksi Perbankan Syariah yang dilakukan melalui Sistem Pembayaran Bank Indonesia antara lain Sistem Bank Indonesia–Real Time Gross Settlement (Sistem BI-RTGS) dapat memainkan peran kunci dalam pembiayaan ekonomi yang diperlukan untuk mencapai tujuan pertumbuhan ekonomi yang lebih baik dan Tujuan Pembangunan Berkelanjutan. Penelitian ini bertujuan untuk menguji dan menganalisis respon pengaruh dari transaksi Bank Syariah melalui Sistem BI-RTGS terhadap Pertumbuhan Ekonomi. Menggunakan data sekunder Bank Indonesia dari dari Tahun 2016 hingga Tahun 2022, kami mengeksplorasi faktor yang mempengaruhi besarnya Pertumbuhan Ekonomi. Meningkatnya Teknologi Sistem Pembayaran merupakan salah satu indikator peningkatan terhadap Kualitas Transasksi Pembangunan perekonomian suatu negara melalui berbagai sektor sebagai wujud pemerintah meningkatkan kesejahteraan masyarakat. Data yang digunakan adalah data Bank Syariah yaitu, data transkasi RTGS, dan CAR. Pada penelitian ini menggunakan data panel dengan pendekatan metode Generalized Method of Moments (GMM), periode analisis dari Tahun 2016 sampai Tahun 2022.
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How to Cite
Rahman, L. A. and Nur Fatwa (2024) “Analisis Transaksi Perbankan Syariah Melalui Sistem Bank Indonesia–Real Time Gross Settlement (Sistem BI-RTGS) Terhadap Pertumbuhan Ekonomi: Generalized Method Of Moment”, Ranah Research : Journal of Multidisciplinary Research and Development, 6(4), pp. 458-475. doi: 10.38035/rrj.v6i4.838.
References
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Humphrey, D. B. (2004). "Replacement of Cash by Card: Theory and Evidence". Journal of Economic Perspectives, 18(4), 117-131.
Humphrey, D. B., Kim, M., & Vale, B. (2017). "Are All Central Bank Retail Payment Systems Created Equal? Lessons from Australia and Canada". Journal of Money, Credit and Banking, 49(6), 1085-1113.
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Laeven, L., & Levine, R. (2009). "Bank Governance, Regulation, and Risk Taking". Journal of Financial Economics, 93(2), 259-275.
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Gallego-Alvarez, I. (2020). An analysis of business ethics in the cultural contexts of different religions. Business Ethics, 29(3), 570–586.
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Goldfarb, A., & Tucker, C. (2019b). Digital marketing. Elsevier, 259–290.
Jung S-U, Shegai V. The Impact of Digital Marketing Innovation on Firm Performance: Mediation by Marketing Capability and Moderation by Firm Size. Sustainability. 2023; 15(7):5711. https://doi.org/10.3390/su15075711
Jones, C. I. (1995). "R&D-Based Models of Economic Growth". Journal of Political Economy, 103(4), 759-784.
Lovelock, Christopher, Jochen Wirtz, dan Jacky Mussry.Pemasaran Jasa Perspektif Indonesia, Jilid 1. Jakarta: Erlangga, 2010
Lovelock, Christopher dan Jochen Wirtz, Services Marketing: People,
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Martínez-Caro, Eva & Cegarra, Juan & Alfonso Ruiz, Francisco Javier. (2020). Digital technologies and firm performance: The role of digital organisational culture. Technological Forecasting and Social Change. 154. 119962. 10.1016/j.techfore.2020.119962.
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Moosa, Imad & Bhatti, Razzaque H. (1997). Are Asian Markets Integrated? Evidence for Six Countries Vis-A-Vis Japan. International Economic Journal. 11. 51-67. 10.1080/10168739700080004.
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Surat Keputusan Direksi Bank Indonesia No. 32/ 33/ KEP/ DIR tanggal 12 Mei 1999 tentang Bank Umum dan Surat Keputusan Direksi Bank Indonesia No. 32/ 34/ KEP/ DIR tanggal 12 Mei 1999 tentang Bank Umum Berdasarkan Prinsip Syariah.
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Undang - Undang No. 10 Tahun 1998 tentang Perubahan Atas Undang – Undang No. 7 Tahun 1992 tentang Perbankan.
Woodford, M. (2000). Monetary Policy in a World Without Money. NBER Working Paper.No 7853
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Afrizal, Yudhistira P. (2014). Analisis Faktor Yang Mempengaruhi Preferensi dan Aksesibilitas Terhadap Penggunaan Kartu Pembayaran Elektronik. Jurnal, Universitas Brawijaya Malang.
Alsharif, M. K., & Kabir Hassan, M. (2020). "Does Islamic Finance Promote Economic Growth? A Meta-Analysis". Emerging Markets Review, 45, 1-16.
Allen, F., & Gale, D. (2000). "Financial Contagion". Journal of Political Economy, 108(1), 1-33.
Anginer, D., Demirgüç-Kunt, A., & Zhu, M. (2014). "How Does Bank Competition Affect Systemic Stability?". Journal of Financial Intermediation, 23(1), 1-26.
Anginer, D., Demirgüç-Kunt, A., & Zhu, M. (2014). "How Does Bank Competition Affect Systemic Stability?". Journal of Financial Intermediation, 23(1), 1-26.
Auer, R., & Boehme, R. (2020). The technology of retail central bank digital currency. BIS Quarterly Review(March). Retrieved from https://www.bis.org/publ/qtrpdf/r_qt2003j.htm
Auer, R., Cornelli, G., & Frost, J. (2020). Covid-19, cash, and the future of payments. Retrieved from https://www.bis.org/publ/bisbull03.pdf
A.Seetharaman and John Rudolph Raj. (2011). An Empirical Study on the Impact of Earnings per Share on Stock Prices of a Listed Bank in Malaysia. The International Journal of Applied Economics and Finance 5 (2): 114-126, 2011. ISSN 1991-0886 / DOI: 10.3923/ijaef. 2011.114.126. 2011.
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Bank Indonesia. (2023). Sistem Pembayaran. http://www.bi.go.id/.
Bank Indonesia. (2023). Statistik Perbankan. http://www.bi.go.id/.
Bank Indonesia, Data Perkembangan Transaksi Sistem Pembayaran dan Pengolaan Uang. Divisi Perizinan dan Informasi SP, Medan
Barro, R. J. (1991). "Economic Growth in a Cross Section of Countries". The Quarterly Journal of Economics, 106(2), 407-443.
Barro, R. J., & Sala-i-Martin, X. (2004). "Economic Growth" (2nd ed.). MIT Press.
Beck, T., Demirgüç-Kunt, A., & Levine, R. (2007). "Finance, Inequality, and the Poor". Journal of Economic Growth, 12(1), 27-49.
Berger, A. N., & Humphrey, D. B. (1997). "Efficiency of Financial Institutions: International Survey and Directions for Future Research". European Journal of Operational Research, 98(2), 175-212.
Berger, A. N. (2003). The economic effects of technological progress: Evidence from the banking industry. Journal of Money, credit and Banking, 141-176.
Chen, C. R., Lee, C. F., & Lee, Y. W. (2012). "Corporate Governance and Financial Constraints on Strategic Investment: Evidence from Emerging Market Firms". Journal of Corporate Finance, 18(2), 271-293.
Chiu, J., & Koeppl, T. V. (2017). "The Economics of Cryptocurrencies—Bitcoin and Beyond". Journal of Economic Perspectives, 31(2), 51-74.
Chinn, M., & Ito, H. (2006). "What Matters for Financial Development? Capital Controls, Institutions, and Interactions". Journal of Development Economics, 81(1), 163-192.
Cunha, R., Marques, C., & Rua, A. (2016). "Developing Indicators of Payment System Development". International Journal of Central Banking, 12(1), 251-266.
Damar, H. E., & Napoli, M. (2020). "The Effect of Central Bank Digital Currency on the Banking System and Financial Stability". Journal of Banking & Finance, 121, 105968.
Demirgüç-Kunt, A., & Huizinga, H. (2010). "Bank Activity and Funding Strategies: The Impact on Risk and Returns". Journal of Financial Economics, 98(3), 626-650.
Gujarati, D. (2003). Ekonometri Dasar. Terjemahan: Sumarno Zain. Jakarta:Erlangga
Habib, A., & Zurawicki, L. (2002). "Corruption and Foreign Direct Investment". Journal of International Business Studies, 33(2), 291-307.
Hassan, M. K., & Kayed, R. N. (2017). "The Impact of Islamic Banking on Economic Growth and Stability: Evidence from the MENA Region". Journal of Economic Cooperation and Development, 38(4), 81-110.
Helmi, Rahman dan Zaki Mubarak. (2014). Analisis Faktor-Faktor yang Mempengaruhi Masyarakat Kalimantan Selatan Terhadap Penggunaan Pembayaran Non Tunai, Jurnal, IAIN Antasari Banjarmasin.
Humphrey, D. B. (2004). "Replacement of Cash by Card: Theory and Evidence". Journal of Economic Perspectives, 18(4), 117-131.
Humphrey, D. B., Kim, M., & Vale, B. (2017). "Are All Central Bank Retail Payment Systems Created Equal? Lessons from Australia and Canada". Journal of Money, Credit and Banking, 49(6), 1085-1113.
Ismail, Perbankan Syariah, 2011. Jakarta: Kencana PrenadaMedia Group
Karim, Adiwarman A, Bank Islam:Analisis Fiqih dan Keuangan, 2011, Jakarta: Rajawali Pers
Kasmir, Dasar-dasar Perbankan, 2012, Jakarta: Rajawali Pers
Kasmir, Bank dan Lembaga Keuangan Lainnya, 2012, Jakarta: PT Raja Grafindo Persada
Kahn, C. M., & Roberds, W. (2009). "Payment System Settlement and Bank Incentives". Journal of Monetary Economics, 56(5), 667-682.
Kotler, Philip. (2008). Manajemen Pemasaran, Jakarta.
Lefort, F., & Urzúa, F. (2001). "Size, Book-to-Market, and ROE Effects in Chilean Stock Returns". Journal of Empirical Finance, 8(2), 193-215.
Laeven, L., & Levine, R. (2009). "Bank Governance, Regulation, and Risk Taking". Journal of Financial Economics, 93(2), 259-275.
Financial Stability Board (FSB) (2020a). Global Monitoring Report on Non-Bank Financial Intermediation.
Gallego-Alvarez, I. (2020). An analysis of business ethics in the cultural contexts of different religions. Business Ethics, 29(3), 570–586.
Goldfarb, A., & Tucker, C. (2019). Digital economics. Journal of Economic Literature, 57(1), 3–43.
Goldfarb, A., & Tucker, C. (2019b). Digital marketing. Elsevier, 259–290.
Jung S-U, Shegai V. The Impact of Digital Marketing Innovation on Firm Performance: Mediation by Marketing Capability and Moderation by Firm Size. Sustainability. 2023; 15(7):5711. https://doi.org/10.3390/su15075711
Jones, C. I. (1995). "R&D-Based Models of Economic Growth". Journal of Political Economy, 103(4), 759-784.
Lovelock, Christopher, Jochen Wirtz, dan Jacky Mussry.Pemasaran Jasa Perspektif Indonesia, Jilid 1. Jakarta: Erlangga, 2010
Lovelock, Christopher dan Jochen Wirtz, Services Marketing: People,
Technology, Strategy. Seventh Edition. United States: Pearson Education, Inc., 2011
Lovelock, Christopher. H dan Lauren KWright. ManajemenPemasaran Jasa. Jakarta: Indeks, 2012
Mankiw, N. G., Romer, D., & Weil, D. N. (1992). "A Contribution to the Empirics of Economic Growth". The Quarterly Journal of Economics, 107(2), 407-437.
Martínez-Caro, Eva & Cegarra, Juan & Alfonso Ruiz, Francisco Javier. (2020). Digital technologies and firm performance: The role of digital organisational culture. Technological Forecasting and Social Change. 154. 119962. 10.1016/j.techfore.2020.119962.
Michael Todaro. (2000). Pembangunan Ekonomi Di Dunia Ketiga. Jakarta:erlangga.
Moosa, Imad & Bhatti, Razzaque H. (1997). Are Asian Markets Integrated? Evidence for Six Countries Vis-A-Vis Japan. International Economic Journal. 11. 51-67. 10.1080/10168739700080004.
Misra, R., Goel, P., & Srivastava, S. (2021). Examining drivers and deterrents of individuals’ investment intentions: a qualitative multistage analysis. Qualitative Research in Financial Markets, 13(5), 608-631.
Oliver Wyman. (2019). Women in financial services 2020. Oliver Wyman, 53, 1–59. https://doi.org/10.1017/CBO9781107415324.004
Oyelami, L.O., & Yinusa, O. (2013). Alternative Payment Systems Implication for Currency Demand and Monetary Policy in Developing Economy: A case study of Nigeria. International Journal of Humanities and Social Science, 3(20), 8.
Penman, S. H. (2013). "Financial Statement Analysis and Security Valuation" (5th ed.). McGraw-Hill Education.
Radiansyah, Muhammad. (2016). Analisis Persepsi Masyarakat Muslim Terhadap Penggunaan Alat Pembayaran Non Tunai di Kota Medan, Jurnal, USU Medan.
Rochet, J. C., & Tirole, J. (2002). "Cooperation among Competitors: Some Economics of Payment Card Associations". The RAND Journal of Economics, 33(4), 549-570.
Romer, P. M. (1986). "Increasing Returns and Long-Run Growth". Journal of Political Economy, 94(5), 1002-1037.
Surat Keputusan Direksi Bank Indonesia No. 32/ 33/ KEP/ DIR tanggal 12 Mei 1999 tentang Bank Umum dan Surat Keputusan Direksi Bank Indonesia No. 32/ 34/ KEP/ DIR tanggal 12 Mei 1999 tentang Bank Umum Berdasarkan Prinsip Syariah.
Sudarsono, Heri, Bank dan Lembaga Keuangan Syariah Deskripsi dan Ilustri, 2013, Yogyakarta: Ekonisia
Sukirno, S. (2004). Pengantar Teori Makroekonomi. Jakarta: Pt Raja. Grafindo Persada
Subari, S. T., & Ascarya. (2003). Kebijakan Sistem Pembayarandi Indonesia. Jakarta: Pusat Pendidikan dan Studi Kebanksentralan (PPSK) Bank Indonesia.
Syarifuddin, F., Hidayat, A., & Tarsidin. (2009). Dampak Peningkatan Pembayaran Non-Tunai Terhadap Perekonomian Dan Implikasinya Terhadap Pengendalian Moneter Di Indonesia. Buletin Ekonomi Moneter dan Perbankan, 369-402.
Tee, H. H., & Ong, H. B. (2016). Cashless payment and economic growth. Financial Innovation, 1-9
Todaro. (2004). Pembangunan Ekonomi Di Dunia Ketiga. Jakarta: Erlangga.
Undang - Undang No. 10 Tahun 1998 tentang Perubahan Atas Undang – Undang No. 7 Tahun 1992 tentang Perbankan.
Woodford, M. (2000). Monetary Policy in a World Without Money. NBER Working Paper.No 7853
Wulandari, B. I. (2019). Pengaruh Nilai Transaksi Pembayaran Non Tunai Terhadap Pertumbuhan Ekonomi di Indonesia (Periode 2014-2017). Skripsi
Warjiyo, P. (2004). Mekanisme Transmisi Kebijakan Moneter di Indonesia. Jakarta: Pusat Pendidikan dan Studi Kebanksentralan (PPSK) Bank Indonesia.
Warjiyo, P., & Solikin. (2003). Kebijakan Moneter di Indonesia. Jakarta: Pusat Pendidikan dan Studi Kebanksentralan(PPSK) Bank Indonesia
Zandi, M., Singh, V., & Irving, J. (2013). The Impact of Electronic Payment on Economic Growth. Philadelphia: Moody's Analytic.
Zandi, M., Singh, V., Koropeckyj, S., & Matsiras, P. (2016). The Impact of Electronic Payments on Economic Growth. Moody's Analytics. United States: Moody's Analytics.
Zeng, Y. (2016). Quantum Summaries. Retrieved from Classical Linear Regression Model: Assumptions and Diagnostic Tests: https://www.quantsummaries.com/Zeng_clrm_diag_tests.pdf