Purpose — The paper attempts to analyze the impacts of the gold price, oil price, exchange rate, consumer price index, and BI rate on the Jakarta Islamic Index.Research method — This study employs VAR-VECM to analyze all secondary data collected. The period is from January 2009 until December 2011.Result — The result shows that in long term all variables have a significant impact on Jakarta Islamic Index. The gold price has a negative impact on Jakarta Islamic Index at 4,1% and is stable after 12 months, the oil price has a positive impact of 1% and stable after 21 months, the exchange rate has a positive impact of 3,8% and stable after 17 months, the consumer price index has positive impact 0,5% and stable after 21 months, and BI rate has negative impact 6,2% and stable after 15 months. BI rate also gives the biggest impact on Jakarta Islamic Index among others.
CITATION STYLE
Alfuadi, M. U. A. (2019). Analisis dampak harga emas dunia, harga minyak dunia, kurs, Indeks Harga Konsumen (IHK), dan BI rate terhadap Jakarta Islamic Index. Journal of Enterprise and Development, 1(2), 8–24. https://doi.org/10.20414/jed.v1i02.970
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