Shifting the State Burden in Infrastructure Financing through the Issuance of Government Sukuk
This research is intended to introduce and elaborate on the role of government sukuk as one of the macroeconomic policy instruments to cover the government budget deficit and infrastructure financing in Indonesia. This study developed an analysis model during the 2008.Q2-2020.Q4 period to show that...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Pusat Penelitian dan Pengabdian Masyarakat Sekolah Tinggi Ilmu Ekonomi (PPPM STIE)
2022-11-01
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| Series: | Journal of Economics, Business & Accountancy |
| Subjects: | |
| Online Access: | https://journal.perbanas.ac.id/index.php/jebav/article/view/3023 |
| _version_ | 1797303337696100352 |
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| author | Ima Amaliah Tasya Aspiranti |
| author_facet | Ima Amaliah Tasya Aspiranti |
| author_sort | Ima Amaliah |
| collection | DOAJ |
| description | This research is intended to introduce and elaborate on the role of government sukuk as one of the macroeconomic policy instruments to cover the government budget deficit and infrastructure financing in Indonesia. This study developed an analysis model during the 2008.Q2-2020.Q4 period to show that the policy of developing Islamic financial instruments is closely related to macroeconomic variables. This study uses a dynamic linear ECM in developing government sukuk both in the short and long term. This study finds that sukuk budget deficit and infrastructure financing positively influence government sukuk issuance in the short term. While in the long term, infrastructure financing negatively influences government sukuk issuance. This study may suggest that the role of government sukuk as a substitute for foreign debt in building infrastructure must be further enhanced. The government should promote trust regarding government sukuk as a reliable investment instrument so that the government sukuk market expands and becomes an important source of financing for economic development, particularly infrastructure development. |
| first_indexed | 2024-03-07T23:51:21Z |
| format | Article |
| id | doaj.art-abb11a7d6456467bba7bd614b48f2592 |
| institution | Directory Open Access Journal |
| issn | 2087-3735 2088-785X |
| language | English |
| last_indexed | 2024-03-07T23:51:21Z |
| publishDate | 2022-11-01 |
| publisher | Pusat Penelitian dan Pengabdian Masyarakat Sekolah Tinggi Ilmu Ekonomi (PPPM STIE) |
| record_format | Article |
| series | Journal of Economics, Business & Accountancy |
| spelling | doaj.art-abb11a7d6456467bba7bd614b48f25922024-02-19T07:16:28ZengPusat Penelitian dan Pengabdian Masyarakat Sekolah Tinggi Ilmu Ekonomi (PPPM STIE)Journal of Economics, Business & Accountancy2087-37352088-785X2022-11-0125217117910.14414/jebav.v25i2.3023Shifting the State Burden in Infrastructure Financing through the Issuance of Government SukukIma Amaliah0Tasya Aspiranti1Universitas Islam Bandung, Bandung, West Java, IndonesiaUniversitas Islam Bandung, Bandung, West Java, IndonesiaThis research is intended to introduce and elaborate on the role of government sukuk as one of the macroeconomic policy instruments to cover the government budget deficit and infrastructure financing in Indonesia. This study developed an analysis model during the 2008.Q2-2020.Q4 period to show that the policy of developing Islamic financial instruments is closely related to macroeconomic variables. This study uses a dynamic linear ECM in developing government sukuk both in the short and long term. This study finds that sukuk budget deficit and infrastructure financing positively influence government sukuk issuance in the short term. While in the long term, infrastructure financing negatively influences government sukuk issuance. This study may suggest that the role of government sukuk as a substitute for foreign debt in building infrastructure must be further enhanced. The government should promote trust regarding government sukuk as a reliable investment instrument so that the government sukuk market expands and becomes an important source of financing for economic development, particularly infrastructure development.https://journal.perbanas.ac.id/index.php/jebav/article/view/3023state sukukstate budget deficitinfrastructure financing |
| spellingShingle | Ima Amaliah Tasya Aspiranti Shifting the State Burden in Infrastructure Financing through the Issuance of Government Sukuk Journal of Economics, Business & Accountancy state sukuk state budget deficit infrastructure financing |
| title | Shifting the State Burden in Infrastructure Financing through the Issuance of Government Sukuk |
| title_full | Shifting the State Burden in Infrastructure Financing through the Issuance of Government Sukuk |
| title_fullStr | Shifting the State Burden in Infrastructure Financing through the Issuance of Government Sukuk |
| title_full_unstemmed | Shifting the State Burden in Infrastructure Financing through the Issuance of Government Sukuk |
| title_short | Shifting the State Burden in Infrastructure Financing through the Issuance of Government Sukuk |
| title_sort | shifting the state burden in infrastructure financing through the issuance of government sukuk |
| topic | state sukuk state budget deficit infrastructure financing |
| url | https://journal.perbanas.ac.id/index.php/jebav/article/view/3023 |
| work_keys_str_mv | AT imaamaliah shiftingthestateburdenininfrastructurefinancingthroughtheissuanceofgovernmentsukuk AT tasyaaspiranti shiftingthestateburdenininfrastructurefinancingthroughtheissuanceofgovernmentsukuk |