Analisis Pengaruh Pembiayaan dan Non Performing Finance (NPF) Bank Syariah, serta Human Development Index (HDI) Melalui Investasi dan Konsumsi terhadap Pertumbuhan Ekonomi Indonesia

Abstract

This research addresses the phenomenonof economic growth in Indonesia over the last 15 years, during which economic activities related to consumption and production have increased. Sharia financing has become a popular choice for many, driven by the growing awareness of sharia-compliant transactions and the trend towards adopting a sharia-based system in Indonesia. This trend has contributed to increased investment and consumption in the country. Therefore, this study aims to analyze the effect of sharia financing, Non-Performing Finance (NPF), and the Human Development Index (HDI} on economic growth in Indonesia, specifically through their impact on investment and consumption. The research employs a quantitative method, utilizing secondary time­ series data from 2009 to 2023 in Indonesia. The gathered data are analyzed using Path Analysis, a model of multiple regression analysis, with the assistance of SPSS software. The findings indicate that sharia financing, NPF, and HD/ have a positive and significant effect on investment, with only sharia financing having a significant effect on both consumption and economic growth. Meanwhile, NPF and HD/ have a positive but statistically insignificant effect on consumption and economic growth. However, when analyzed through the mediating effects of investment and consumption, sharia financing, NPF, and HDI show a positive and significant impact on economic growth in Indonesia.