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All Journal EQUILIBRIUM Dinar: Jurnal Ekonomi dan Keuangan Islam TIJAB (The International Journal of Applied Business) JURNAL EKONOMI SYARIAH International Journal of Economics, Business, and Entrepreneurship (IJEBE) Izdihar : Jurnal Ekonomi Syariah Jurnal Ekonomi dan Kewirausahaan Kreatif JEKP (Jurnal Ekonomi dan Keuangan Publik) Journal of Economics and Public Health Journal of Islamic economics Perspectives (JIEP)
Jufri, Achmad
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Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Public Health Social Sciences Other

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Journal : EQUILIBRIUM

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How Long Can Macroeconomic Variables Affect the Islamic Index in Indonesia? Jufri, Achmad; Sakinah, Sakinah
EQUILIBRIUM Vol 10, No 2 (2022): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v10i2.16707

Abstract

This study aimed to examine the effect of macroeconomic variables' lags on Indonesia's Islamic index. The influence of lag can determine how long macroeconomic variables affect the Islamic index. The macroeconomic variables observed for their impact on the Islamic index are inflation, industrial production index, interest rates, exchange rates, gold prices, money supply, and world oil prices from May 2011 to December 2021. The approach used is the Autoregressive Distributed Lag (ARDL) model. The results show that the lags of macroeconomic variables influence the sharia index. The time it takes to affect the stock varies. Inflation, gold prices, and the money supply need a minimum of 1 month to affect stock prices. Industrial production indices and exchange rates have a high-speed ability to influence stock price movements at that time. Interest rates and world oil prices take at least three months to affect stock prices.
Co-Authors Arifina, Mufti Aryanti, Ririn Dwi Aulia, I'anatul Darmawan Darmawan Darmawan Elfaz, Maulanisa Arifa Faidatul Awwalien Hayya, Najwa Khairina Hidayat, Moh. Helmi Ilham Maulana Miftahul Ulum Millah Atmim Lana Minhatus Salaamah Naurah Farah Salsabila Rafiqi, Iqbal Ramiatin Lidia Sabrina Nur Afifah Sakinah Sakinah Soleman, Riky Ulfa, Nadya