Abstract
Purpose — The paper attempts to analyze the impacts of the gold price, oil price, exchange rate, consumer price index, and BI rate on the Jakarta Islamic Index.Research method — This study employs VAR-VECM to analyze all secondary data collected. The period is from January 2009 until December 2011.Result — The result shows that in long term all variables have a significant impact on Jakarta Islamic Index. The gold price has a negative impact on Jakarta Islamic Index at 4,1% and is stable after 12 months, the oil price has a positive impact of 1% and stable after 21 months, the exchange rate has a positive impact of 3,8% and stable after 17 months, the consumer price index has positive impact 0,5% and stable after 21 months, and BI rate has negative impact 6,2% and stable after 15 months. BI rate also gives the biggest impact on Jakarta Islamic Index among others.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
