Islamiconomic: Jurnal Ekonomi Islam
Vol 12, No 2 (2021)

Analysis of The Impact of Macroeconomic Variables on The Sharia Index of Indonesia

Rahmat Fitriansyah (Fakultas Ekonomika dan Bisnis Universitas Diponegoro)
Darwanto Darwanto (Fakultas Ekonomika dan Bisnis Universitas Diponegoro)



Article Info

Publish Date
14 Feb 2022

Abstract

This study intends to analyze the impact of macroeconomic variables on the indonesian sharia stock index. using vector error correction modeling (vecm) and variable money supply, industrial production index, consumer price index, exchange rate, bank interest rates, and indonesian sharia bank certificates as independent variables. findings / originality: the results show that the industrial production index, the exchange rate has a significant positive effect and the variable money supply, the consumer price index, and the sharia bank indonesia certificate have a significant negative effect on issi. granger's causality results prove that only the money supply and industrial production index have causality, but there is a one-way relationship including the indonesian syariah bank certificate to the money supply, the exchange rate, and the consumer price index. bank interest rates on sharia indonesia bank certificates, sharia indonesia bank certificates against consumer price indexes and exchange rates, and industrial production index.

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Journal Info

Abbrev

ijei

Publisher

Subject

Religion Economics, Econometrics & Finance Social Sciences

Description

Islamiconomic: Jurnal Ekonomi Islam (IJEI) is a periodical scientific publication intended for economists who want to publish their articles in the form of literature studies, research, and scientific development in the field of Islamic economics. IJEI was first published in 2009 which is annually ...