Abstract
This study aims to 1) analyze the direct influence of Inflation, Interest Rates and Exchange Rates on the Jakarta Composite Index (JCI) in Indonesia. 2) analyze the direct influence of Inflation, Interest Rates, Exchange Rates and JCI on Government Bonds in Indonesia. 3) determine the indirect effect of Inflation, Interest Rates, and Exchange Rates on Government Bonds through the JCI in Indonesia. The data used in this study is secondary data from 2010 to 2019 sourced from the Central Statistics Agency (BPS), Bank Indonesia and the Indonesia Stock Exchange. The analytical technique used in this study is path analysis. The test results show that 1) Inflation has no direct effect on the Jakarta Composite Index. Interest rates do not directly have a significant effect on the Jakarta Composite Index in Indonesia. The exchange rate directly has a positive and significant effect on the composite stock price index in Indonesia. 2) Inflation has no direct effect on government bonds in Indonesia. Interest rates do not directly have a significant effect on government bonds in Indonesia. The exchange rate directly does not have a significant effect on government bonds in Indonesia. The Jakarta Composite Index does not directly have a significant effect on government bonds in Indonesia. 3) Inflation, interest rates, and exchange rates do not indirectly affect government bonds through the Jakarta Composite Index.
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.
