The Influence Of Third-Party Funds (Dpk) And Capital Adequacy Ratio (CAR) In Mediating The Impact Of Expansionary Fiscal Policy On The Liquidity Of Islamic Banking

This study examines the effect of expansionary fiscal policy on the liquidity of Islamic banks by using Third-Party Funds (DPK) and the Capital Adequacy Ratio (CAR) as intervening variables. Using a quantitative approach based on secondary data from Islamic banks’ financial statements and OJK statistics for the period from January 2022 to December 2024, this study employs multiple linear regression analysis and path analysis to assess both direct and indirect effects. The findings indicate that the regression model used is significant with an R2 value of 0.511, where DPK (β = 0.438; p = 0.004) and CAR (β = 0.379; p = 0.013) show a positive effect on liquidity, and the results of the simultaneous test also confirm that expansionary fiscal policy has a significant influence. These results affirm that fiscal policy not only contributes directly to liquidity but also does so through Islamic financial intermediaries as the main channel in the transmission process. In practical terms, these findings reinforce the importance of coordination between government fiscal policy and Islamic banks’ management strategies to improve fund mobilization and strengthen capital, while also providing empirical evidence supporting the relevance of Keynesian theory in maintaining the stability of the Islamic banking sector in Indonesia.

Capital adequacy ratio · Financial intermediary · Fiscal policy · Islam · Market liquidity · Regression analysis · Corporate Governance and Financial Management · Financial Analysis and Corporate Governance · Islamic Finance and Communication