The Influence of Macroeconomics Indicators to the Growth of State Islamic Bonds (Sukuk) in Indonesia

摘要

The purpose of this study is to analyze the impact of macroeconomic on the growth of Islamic bonds (sukuk) in Indonesia. This study uses Ordinary Least Square (OLS) method with a monthly time series starting from January 2013 until December 2016. The results of this study indicate that the Production Index (IP) and Bank Indonesia Syariah Certificate (BSBIS) variables positively and significantly affect the growth of state sukuk issuance in Indonesia, then inflation negatively and significantly affects the growth of state sukuk issuance, while the Jakarta Islamic Index (JII) variable has a negative effect but not significant on the growth of Indonesian state sukuk.