Pengaruh Variabel Makroekonomi Terhadap Jakarta Islamic Index Periode 2011-2018

Abstract

This research aims to determine the effect of Macroekonomic Variables against the sharia stock index, Jakarta Islamic Index . the approach used is quantitative by using the Vector Error Correction Model (VECM) analysis technique with the STATA program.While the Inflation, Exchange Rates,Bank Indonesia Sharia Certificate, Industrial Production Index and Oil Price as dependent variables and Jakarta Islamic Index (JII) as the independent variable.Secondary data are used in this research from the official website Badan Pusat Statistik, Bank Indonesia, U.S Energy Information Administration(EIA) and yahoofinance. The result of the research shows that in the short term, Inflation, Exchange Rates,Bank Indonesia Sharia Certificate, Industrial Production Index and Oil Price have no significant influence against Jakarta Islamic Index. While in the long term, Inflation, Exchange Rates,Bank Indonesia Sharia Certificate, Industrial Production Index have signicant influence against Jakarta Islamic Index. Oil price in the long term has no significant influence against Jakarta Islamic Inde