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All Journal Economica: Journal of Economic and Economic Education
Fitrawaty Fitrawaty
State University of Medan
Economics, Econometrics & Finance Education

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THE INFLUENCE OF WORLD OIL PRICES, EXCHANGE RATES, AND GLOBAL ECONOMIC UNCERTAINTY ON THE DYNAMICS OF THE COMPOSITE STOCK PRICE INDEX (IHSG) Eza Syahbana; Fitrawaty Fitrawaty
JURNAL ECONOMICA : Research of Economic And Economic Education Vol 14, No 2 (2026): Economica: Journal Of Economic And Economic Education
Publisher : Economic Education Faculty of Economics and Business Universitas PGRI Sumatera Barat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22202/economica.2026.v14.i2.11183

Abstract

This study analyzes the effect of world oil prices, exchange rates, and global economic policy uncertainty on IHSG using the Error Correction Model (ECM). Secondary time series data are employed. The results show that in the short run all variables have a negative and insignificant effect on IHSG. In the long run, world oil prices and exchange rates have a positive and significant effect, while global economic policy uncertainty has a positive but insignificant effect. It is concluded that global factors exert short-term pressure but support stock market performance in the long term.
Co-Authors Eza Syahbana