Proceedings of the 4th International Conference on Islamic Economics, Business, Philanthropy, and PhD Colloqium (ICIEBP 2022)

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The Effect of GDP, Zakat, and Infaq Shadaqah On-Demand for Money and Their Relationship to Income and Poverty in Indonesia

Authors
Eva Misfah Bayuni1, *
1Faculty of Shari’a, Shari’a Banking Program, Universitas Islam Bandung, Bandung, Indonesia
*Corresponding author. Email: evambayuni@gmail.com
Corresponding Author
Eva Misfah Bayuni
Available Online 19 June 2023.
DOI
10.2991/978-94-6463-176-0_6How to use a DOI?
Keywords
Money Demand; GDP; Zakat; Infaq Shadaqah
Abstract

This study aims to determine the effect of macroeconomic variables, Zakat and Infaq Shadaqah on money demand in Indonesia. The used data is secondary data from the 2010-2019 time series. The method of this research is using Autoregressive Distributed Lag (ARDL). E-views 9 program is used for processing data. The results of the LM test on the M0 show that there is no autocorrelation problem in the estimated M0 ARDL. Based on the short-term ECM estimation of the M0, several variables have significant values that affect the demand for money. These variables are significant GDP at lag 2 with a significant level of 10%, Zakat is significant at a significant level of 1% and Infaq Shadaqah is significant at lag 1 and 2 with a significant level of both 5%. While the ARDL estimation results show that the variables of GDP, Zakat, and Infaq Shadaqah significantly affect the demand for money in the long term at 1%, 1, % and 10% levels. Furthermore, GDP has a positive effect on income distribution and a negative on poverty. However, the current increase in GDP is considered not in favor of the poor. Zakat also has a significant negative effect on poverty while Infaq Shadaqah also has a negative but not significant effect.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 4th International Conference on Islamic Economics, Business, Philanthropy, and PhD Colloqium (ICIEBP 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
19 June 2023
ISBN
10.2991/978-94-6463-176-0_6
ISSN
2352-5428
DOI
10.2991/978-94-6463-176-0_6How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Eva Misfah Bayuni
PY  - 2023
DA  - 2023/06/19
TI  - The Effect of GDP, Zakat, and Infaq Shadaqah On-Demand for Money and Their Relationship to Income and Poverty in Indonesia
BT  - Proceedings of the 4th International Conference on Islamic Economics, Business, Philanthropy, and PhD Colloqium (ICIEBP 2022)
PB  - Atlantis Press
SP  - 73
EP  - 86
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-176-0_6
DO  - 10.2991/978-94-6463-176-0_6
ID  - Bayuni2023
ER  -