TY - GEN
T1 - Characterising the Islamic Financial Cycle in Indonesia Post-Pandemic Era
T2 - International Conference on Business and Technology, ICBT2023
AU - Nurfalah, Irfan
AU - Rusydiana, Aam Slamet
AU - Laila, Nisful
AU - Sukmaningrum, Puji Sucia
AU - Rosyidi, Luthfi Nur
N1 - Publisher Copyright:
© The Author(s), under exclusive license to Springer Nature Switzerland AG 2024.
PY - 2024
Y1 - 2024
N2 - Numerous scholars have conducted studies on the conventional financial cycle, yet there is a lack of scholarly discourse on the distinct Islamic financial cycle. However, Islamic finance plays a significant role within a nation’s economic framework, particularly in regions with a predominantly Islamic population. This study integrates variables from Islamic banking, the Islamic capital market, and macroeconomics, covering the period from 2009 to 2022. The research employs the MSVAR methodology to identify and analyze transitions between distinct regimes. The findings indicate that the duration of the deceleration regime phase is longer than the accelerated regime phase, lasting approximately 9 years versus 5 years. Furthermore, the study reveals that the six variables examined significantly impact Indonesia’s economic growth, with each variable displaying a unique response to shocks.
AB - Numerous scholars have conducted studies on the conventional financial cycle, yet there is a lack of scholarly discourse on the distinct Islamic financial cycle. However, Islamic finance plays a significant role within a nation’s economic framework, particularly in regions with a predominantly Islamic population. This study integrates variables from Islamic banking, the Islamic capital market, and macroeconomics, covering the period from 2009 to 2022. The research employs the MSVAR methodology to identify and analyze transitions between distinct regimes. The findings indicate that the duration of the deceleration regime phase is longer than the accelerated regime phase, lasting approximately 9 years versus 5 years. Furthermore, the study reveals that the six variables examined significantly impact Indonesia’s economic growth, with each variable displaying a unique response to shocks.
KW - Islamic Financial Cycle
KW - Markov Switching
KW - Post-Pandemic
UR - http://www.scopus.com/inward/record.url?scp=85189541167&partnerID=8YFLogxK
U2 - 10.1007/978-3-031-53998-5_3
DO - 10.1007/978-3-031-53998-5_3
M3 - Conference contribution
AN - SCOPUS:85189541167
SN - 9783031539978
T3 - Lecture Notes in Networks and Systems
SP - 22
EP - 38
BT - Technology and Business Model Innovation
A2 - Alareeni, Bahaaeddin
A2 - Hamdan, Allam
PB - Springer Science and Business Media Deutschland GmbH
Y2 - 7 May 2023 through 9 May 2023
ER -
