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All Journal SERAMBI: Jurnal Ekonomi Manajemen dan Bisnis Islam
Imamul Mutaqin
Fakultas Ekonomi dan Bisnis Islam IAIN Salatiga. Indonesia
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Analysis of Macroeconomics Effects on the Indonesian Sharia Stock Index Anton Bawono; Imamul Mutaqin
SERAMBI: Jurnal Ekonomi Manajemen dan Bisnis Islam Vol 1 No 2 (2019)
Publisher : LPMP Imperium

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (211.327 KB) | DOI: 10.36407/serambi.v1i2.66

Abstract

Purpose- The purpose of this study was to analyze the response shown by the Indonesian sharia stock index (ISSI) against the shock that occurred in inflation, IDR / USD exchange rate, interest rate, money supply (JUB), world oil prices and world gold prices. Methods- This research is quantitative research using the VAR model as data analysis. The data have been obtained and analyzed using Eviews software tool version 9. Findings- These results indicate that the ISSI responded negatively and permanently against shock happens to inflation, ISSI responded negatively and permanently against the shock that occurred at the BI Rate, the ISSI responded positively and permanently to the shock that occurred in world oil prices, the ISSI responded positively and permanently to the shock that occurred at world gold prices. Research implications- Investors should pay attention to changes that might occur in inflation, interest rate, world oil prices and world gold prices because in the results of this study show that the stock index will respond at least 10 months ahead when inflation, BI Rate, world oil prices and world gold prices experience shock. The government is expected to maintain economic stability so investors remain interested in investing in the domestic stock market
Co-Authors Anton Bawono