Impact of Inflation, Interest Rate, and Industrial Production Index (IPI) on the Amount of Zakat in Central Baznas Period 2011-2017
Abstract
The purpose of this study was to analyze the impact inflation, interest rates, and industrial production index (IPI) on the amount of zakat at the Central BAZNAS from 2011 to 2017. The method used in this study was explanatory methods with quantitative approaches. The data analysis technique used is the Vector Autoregression (VAR) method, if the data is not stationary at the level and there is cointegration, the method used is Vector Error Correction Model (VECM). The data used in this study are time series data from January 2011 to December 2017 collected from the website of Bank Indonesia, the website of the Badan Pusat Statistik (BPS), and the website of the Central BAZNAS. The results of the VECM test show that in the short term inflation and interest rates each have a negative and not significant effect on the amount of zakat, while the IPI has a positive and insignificant effect on the amount of zakat. Whereas in the long run inflation has a significant negative effect on zakat receipts. Interest rates are negatively significant and IPI has a significant positive effect on the amount of zakat.
Keywords: The Amount of Zakat, Inflation, Interest Rate, Industrial Production Index
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