Claim Missing Document
Check
Articles

Found 2 Documents
Search
Journal : Economic Journal of Emerging Markets

Responsivitas Harga Saham Properti Terhadap Dinamika Ekonomi Moneter di Indonesia: Pendekatan Error Correction Model Florentinus Nugro Hardianto
Economic Journal of Emerging Markets Volume 11 Issue 3, 2006
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/vol11iss3aa523

Abstract

This study is an effort to extend reseach in stock market espicially about the Response of the price of stock to change monetary sector in Indonesia by using monthly data over the period 2002-2005. The price of stock is the stock price index of property and the monetary variables consist of the exchange rate, three months SBI, Indonesian money supply M2. The research applies Engle-Grange Error Correction Model.This study shows that there is a long run relationship between price stock of property and monetary variables. The second, in the short run the price of stock is affected significantly by money supply M2 and the US time deposit interest rate. Finnally, three months SBI, money supply M2 and the US time deposit interest rate influence the price of stock in the long rung.Key words: price stock of property, monetary variable, Engle-Granger Error Correction Model
PENGARUH VARIABEL MONETER TERHADAP INDEKS HARGA SAHAM SEKTOR KEUANGAN DI INDONESIA: ERROR CORRECTION MODEL Florentinus Nugro Hardianto
Economic Journal of Emerging Markets Volume 13 Issue 3, 2008: Indonesian Version
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v13i3.1999

Abstract

The aim of this research is to analyse the effect of monetary variables on financial sector composite index in Indonesia by using error correction model for 1997:1-2006:4 period. The result of cointegration test shows that there is a long-run or equilibrium relationship between financial sector composite index and monetary variables such as deposit interest rate, SIBOR interest rate, exchange rate, and economic growth. Both short-term and long-term, financial sector composite index are influenced by exchange rate significantly. Implication of this research is that exchange rate stabilization policy can affect Indonesian capital market growth, especially in financial sector.Keywords: financial sector composite index, monetary variable, error correction model