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The Impact Of Monetary Policy On The Conventional and Islamic Banks Stability In a Dual Banking System in Indonesia

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"Objectives: This study aims to analyze the impact of changes in monetary policy
and macroeconomic factors on the stability of Islamic and conventional banking
using the VAR/VECM Analysis method, followed by IRF and FEVD Analysis,
covering the period from 2018 to 2022. The samples in this study consist of the
financial reports of Conventional Commercial Banks (BUK) and Sharia
Commercial Banks (BUS). The independent variables considered are BI7DRR,
PUAB, and PUABS as indicators of monetary policy, and ER, IPI, and CPI as
macroeconomic variables.
Methods: The analytical methodology employed in this research involves several
stages. Initially, data validity is tested, followed by VECM estimation to assess the
long and short-term impact of independent variables on the dependent variable.
Subsequently, IRF and FEVD analyses are conducted to observe the impact of
shocks and evaluate the contribution of each independent variable.
Findings: The findings of this study suggest that, in the long term, each
independent variable influences the dependent variable, namely the stability of both
Islamic and conventional banking, as indicated by the Zscore. However, in the short
term, no individual independent variable has a significant impact on Islamic
banking. In contrast, for conventional banking, nearly all independent variables
except PUAB have an effect on its short-term stability. The FEVD analysis results
reveal that the most substantial contribution affecting the stability of Islamic
banking originates from internal variables within Islamic banking itself. On the
other hand, the primary contributor affecting the stability of conventional banking
is the CPI variable. The IRF analysis findings indicate that Islamic banking
demonstrates greater stability when facing shocks compared to conventional
19103042REF 332.49598 AMB tLocal ContentAvailable
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