Since 2014
Macroeconomic Variables on Indonesian Sharia Capital Market
Shirkah Journal of Economics and Business
View Archive Info| Field | Value | |
| Title |
Macroeconomic Variables on Indonesian Sharia Capital Market
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| Creator |
Nugroho, Taufik
Rusydiana, Aam S. |
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| Subject |
—
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| Description |
This article emphasizes to analyze the effect of macroeconomic variables on sharia capital market in Indonesia by using Vector Error Correlation Model (VECM) approach method. The variables used are world oil price, Industry Production Index (IPI) Currency Exchange Rate to Dollar and Consumer Price Index (CPI) in Indonesia. The research show that in the Indonesian Stock Sharia Index (ISSI) model, the VECM in the ISSI model can explain in the short term the IPI variable, world oil price, rupiah to dollar, DJIA and CPI does not affect to ISSI variable. While in the long term, world oil prices are positive climate and Dow Jones Industrial Average (DJIA) variables negatively affect ISSI. In addition, FEVD test the world oil price has more dominant contribution than other variable 6.02%. Keywords: sharia capital market, macroeconomics, VECM, ISSI
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| Publisher |
Faculty of Islamic Economics and Business, Institut Agama Islam Negeri (IAIN) Surakarta
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| Contributor |
—
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| Date |
2019-01-10
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion Peer-reviewed Article |
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| Format |
application/pdf
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| Identifier |
http://shirkah.or.id/new-ojs/index.php/home/article/view/198
10.22515/shirkah.v3i2.198 |
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| Source |
Shirkah: Journal of Economics and Business; Vol 3, No 2 (2018)
2503-4243 2503-4235 |
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| Language |
eng
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| Relation |
http://shirkah.or.id/new-ojs/index.php/home/article/view/198/51
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| Rights |
Copyright (c) 2019 Shirkah: Journal of Economics and Business
http://creativecommons.org/licenses/by-nc/4.0 |
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