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Influence Analysis Of Social Values On The Number Of Islamic Money Demand In Indonesia

Author

Listed:
  • Ebrinda Daisy Gustiani,

    (Universitas Indonesia)

  • Ascarya

    (Bank Indonesia)

  • Jaenal Effendi

    (Institut Pertanian Bogor)

Abstract

As one of the existing instruments in the economic system of Islam, Zakat Becomes Important to Investigate its influence in the Formulation of monetary policy in Indonesia, especially relating to the amount of money. This paper analyzes whether Zakat will of affect, the money demand of Islam in Indonesia, by applying the Vector Error Correction Model (VECM) on monthly data During 2001 to 2007. This paper derives Trust interesting results on both conventional and Islamic money demand in Indonesia. In general, the result confirms the Domination of conventional economic system, one relative to the Islamic (Sharia), while the social value does not significantly affect the money demand in Indonesia.

Suggested Citation

  • Ebrinda Daisy Gustiani, & Ascarya & Jaenal Effendi, 2010. "Influence Analysis Of Social Values On The Number Of Islamic Money Demand In Indonesia," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 12(4), pages 481-510, April.
    • Handle: RePEc:idn:journl:v:12:y:2010:i:4h:p:481-510
    DOI: https://doi.org/10.21098/bemp.v12i4.381
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    More about this item

    Keywords

    Money demand; social values; Islam; VAR/VECM;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E41 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Demand for Money
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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