Tinjauan Literatur mengenai Sumber Pembiayaan Pembangunan dan Dampaknya terhadap Pertumbuhan Ekonomi di Indonesia

Abstract

This study aims to comprehensively review various sources of development financing and their impact on economic growth in Indonesia. The method used is a literature review by examining a number of academic literature, scientific journals, and relevant official reports over the last ten years. The results of the study show that sources of development financing in Indonesia can be grouped into three main forms, namely domestic financing, external financing, and hybrid financing. Domestic financing through the state budget, government bonds, and Sukuk Negara contributes positively to long-term stability, although its effectiveness is still influenced by suboptimal governance. External financing such as FDI and foreign debt has proven to be able to drive economic growth, but risks creating fiscal dependence if not balanced with careful policies. Meanwhile, the Public-Private Partnership (PPP) model and sharia-based financing, such as mudharabah musytarakah, are considered more adaptive and have the potential to increase national financing efficiency. This study emphasizes the importance of synergy between fiscal and monetary policies and Islamic economic principles to achieve equitable and sustainable development. Thus, the integration of sharia values into the national financing system can serve as a strategic foundation for inclusive and oriented economic growth.