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All Journal Ekonomi Bisnis JEJAK Ekonomikawan : Jurnal Ilmu Ekonomi dan Studi Pembangunan Jurnal Al-Iqtishad Jurnal Ekonomi & Studi Pembangunan An-Nisbah: Jurnal Ekonomi Syariah Jurnal Wilayah dan Lingkungan JIET (Jurnal Ilmu Ekonomi Terapan) JDE (Journal of Developing Economies) Jurnal Ekonomi dan Bisnis Islam Asy-Syir'ah: Jurnal Ilmu Syari'ah dan Hukum Jurnal Ilmiah Ekonomi Islam Inovasi : Jurnal Ekonomi, Keuangan, dan Manajemen Jurnal Analisis Bisnis Ekonomi Ekono Insentif Shirkah: Journal of Economics and Business Ihtifaz: Journal of Islamic Economics, Finance, and Banking Jurnal Ekonomi dan Pembangunan Efficient: Indonesian Journal of Development Economics Jurnal Orientasi Bisnis dan Entrepreneurship Ekopem: Jurnal Ekonomi Pembangunan Jurnal Riset Ilmu Ekonomi Jurnal Iqtisaduna Share: Jurnal Ekonomi dan Keuangan Islam CITIZEN: Jurnal Ilmiah Mulitidisiplin Indonesia Journal of Islamic Economics, Management, and Business (JIEMB) Jurnal Ilmiah Mahasiswa Raushan Fikr WELFARE Jurnal Ilmu Ekonomi Journal of International Conference Proceedings EKONOMIKA SYARIAH : Journal of Economic Studies Jurnal Magister Ekonomi Syariah Economic Development Analysis Journal An-Nisbah: Jurnal Ekonomi Syariah JIEP: Jurnal Ilmu Ekonomi dan Pembangunan Journal of Islamic Economic Laws Jurnal Analisis Bisnis Ekonomi
Muhammad Ghafur Wibowo, Muhammad Ghafur
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Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Earth & Planetary Sciences Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : Journal of Islamic Economic Laws

 1 
The Influence and Contribution of Macroeconomics to The Indonesian Sharia Stock Index for The Period 2011-2021 Mulyadi, Sandi; Wibowo, Muhammad Ghafur
Journal of Islamic Economic Laws Vol 6, No 1: January 2023
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v6i1.21073

Abstract

This study aims to determine the impact of macroeconomic variables on the Indonesian Sharia Stock Index (ISSI). The macroeconomic variables used are Industrial Production Index (IPI), Indonesian Sharia Bank Certificate (ISBC), Money Supply (MS), Exchange Rates (ER), Interest Rates (IR), and inflation. The observed data is in the form of monthly data for the period 2011 to 2021. The method used is to test the impact and contribution of VECM. The test results with the VECM model found that in the short term, all variables had no effect on the Indonesian Sharia Stock Index, whereas, in the long term, IPI, ISBC, and inflation had a negative effect, and MS, ER, and IR had a positive effect, based on the IRF test showed that ISSI responding to fluctuations from all positive macroeconomic variables except inflation which responded negatively and the contribution of each macroeconomic variable was IPI (0.64), ISBC (2.01), MS (0.45), ER (0.64), IR (0.01), and inflation (1.16) against the Indonesian Sharia Stock Index.
Co-Authors Abda Abda Abdullah Abdullah, Muhammad Latif Alatas, Abdullah amal, Muhammad ahsanul Amarudin, Luluk Amirullah, Malik Abd. Karim Andiansyah, Farma Ash-Shiddiqy, Muhammad Ashari, Mirza Purta Cahyaningrum, Safira Aulia Caniago, Muhammad Ali Imran Casmini Casmini, Casmini Dzihny, Izzatu Ebiyeska, Hedi fitriyanto, nur Fitriyati, Intan Diana Furwanti, Reni Gabi, Ainul Ghannili, Farawi Hasbi Hikam, Ahmad Nailul Ihsan, Akmal Julina Julina Juniati, Wike Kamaluddin Kamaluddin Khoiruddin, Akhmad Yusuf Lestari, Dini Maulana Linawati, Yuliasti Lusiana, Dewi Mahendra, Weri Makhrus Munajat Mardiyatillah, Sakinah Maulana, Nora Miftakhul Choiri Misnen Ardiansyah, Misnen Mubarok, Ahmad Muflikha, Muflikha Muhammad Wakhid Musthofa Muhdir, Ibnu Muhsin, An’nissa Miftahusnika Islami Mukhtasar, Mukhtasar Mulyadi, Sandi Munajar, Makhrus Musir, Oka Nainggolan, Basaria Prihatiningtyas, Dian Razali Razali robba, irdlonia Safwan Safwan, Safwan Salic, Jawad Z. Satibi, Ibi Setyono, Fredi Shiddiqy, Muhammad Ash- Soleman, Riky Susilawati, Susilawati Syafi'i, Imam Syakur, Fauzan Abdul Wau, Taosige Zahirah, Qonitah Rifda