scholarly journals THE EFFECT OF COUNTRY RISK AND MACROECONOMIC ON JAKARTA ISLAMIC INDEX

2020 ◽  
Vol 6 (1) ◽  
pp. 151
Author(s):  
Masrizal Masrizal ◽  
Miftahurrahman Miftahurrahman ◽  
Sri Herianingrum ◽  
Yayan Firmansah
Keyword(s):  
Exchange Rates ◽  
Industrial Production ◽  
Financial Risk ◽  
Oil Prices ◽  
Research Approach ◽  
Production Index ◽  
Industrial Production Index ◽  
The Government ◽  
Economic Risks

This study examines the impacts of Indonesia's country risks (i.e. financial risk, political risk, and economic risk), exchange rate, oil prices, and industrial production index on the Jakarta Islamic Index (JII). This research use monthly data from January 2003 to March 2016 with a quantitative research approach that applies Johansen Cointegration Test and Vector Error Correction Model (VECM) to see the long-term impact and response of shocks on certain variables. The findings show the existence of short-term and long-term causalities between macroeconomic variables and the Jakarta Islamic index. Specifically, in the long run, financial risk, oil prices, and exchange rates have a significant positive effect on Jakarta Islamic Index, while economic risks and industrial production index have a significant negative on Jakarta Islamic Index. This finding shows that investors consider financial risks, economic risks, and exchange rates in investments. This finding also tells the government that several important macroeconomic indicators need to be considered.

scholarly journals PENGARUH VARIABEL MAKROEKONOMI TERHADAP JAKARTA ISLAMIC INDEX PERIODE 2011-2018

2020 ◽  
Vol 6 (9) ◽  
pp. 1894
Author(s):  
Syafrina Hidayati ◽  
Puji Sucia Sukmaningrum
Keyword(s):  
Exchange Rates ◽  
Significant Influence ◽  
Industrial Production ◽  
Oil Price ◽  
Stock Index ◽  
Energy Information Administration ◽  
Production Index ◽  
Industrial Production Index ◽  
Analysis Technique

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 Index

scholarly journals Kondisi makroekonomi dan kinerja perbankan di Indonesia

2021 ◽  
Vol 16 (1) ◽  
pp. 11-28
Author(s):  
Irma Febriana Mk ◽  
Nurbetty Herlina Sitorus ◽  
Rizka Malia
Keyword(s):  
Error Correction ◽  
Industrial Production ◽  
Negative Relationship ◽  
Short Term ◽  
Vector Error Correction ◽  
Production Index ◽  
Vector Error ◽  
Industrial Production Index ◽  
Significant Negative Relationship

The purpose of this study was to see how the long-term and short-term relationship between banking performance and macroeconomic variables. The analysis method used is the vector error correction model (VECM) with the variables ROA, BOPO, LDR, industrial production index, CPI, and BI rate. The results of this study indicate that there is a significant positive relationship between ROA and industrial production index in the long run and a significant negative relationship between ROA and CPI in the long and short term. There is a significant negative relationship between BOPO and the industrial production index in the long and short term. LDR has a significant negative relationship with all macro variables in the long term whereas, in the short term, LDR has a significant negative relationship with the CPI.  Keywords: Banking performance, Macroeconomic, Vector error correction models

scholarly journals Industrial production index - crude oil price nexus: Russia, Kazakhstan and Azerbaijan

2020 ◽  
Vol 65 (227) ◽  
pp. 119-141
Author(s):  
Fatih Kaplan ◽  
Ayşe Ünal
Keyword(s):  
Crude Oil ◽  
Frequency Domain ◽  
Industrial Production ◽  
Oil Prices ◽  
Oil Price ◽  
Causality Analysis ◽  
Crude Oil Price ◽  
Causality Test ◽  
Production Index ◽  
Industrial Production Index

The study aims to examine the causality between industrial production index and crude oil price for Russia, Kazakhstan and Azerbaijan by using Frequency Domain Causality Analysis. For this purpose, the monthly data of the industrial production index and Brent oil price data over the period 1993-2019 are used. The Frequency Domain Causality Analysis suggests that the uni-directional causality relationship runs from oil prices to industrial production index is valid in the medium run for Russia and Azerbaijan and in the short run for Kazakhstan. However, there is no uni-directional causality linkage between oil prices and industrial production index in the long run for any of the countries. We hope to contribute to the literature by using frequency-domain causality test which examines the interrelation of crude oil prices on industrial production with the periodicity in these countries. The finding of this study is expected to serve as a tool for industrial production policy.

scholarly journals Pengaruh Variabel Makroekonomi terhadap Jakarta Islamic Index (JII) periode Januari 2004 Hingga Desember 2017

2020 ◽  
Vol 6 (2) ◽  
pp. 372
Author(s):  
Rubina Dwi Ghassani ◽  
Raditya Sukmana
Keyword(s):  
Exchange Rates ◽  
Money Supply ◽  
Industrial Production ◽  
Secondary Data ◽  
Stock Index ◽  
Vector Error Correction ◽  
Production Index ◽  
Vector Error ◽  
Industrial Production Index ◽  
Analysis Technique

This study aims to determine the effect of Macroeconomic 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 Exchange Rates, Industrial Production Index and Money Supply as dependent variables and Jakarta Islamic Index (JII) as the independent variable. Secondary data are used in this research from the official website of Bank Indonesia, Badan Pusat Statistik and Bursa Efek Indonesia. The results of the research shows that the Exchange Rates, Industrial Production Index and Money Supply partially has positive and significant influent against sharia stock index in Jakarta Islamic Index (JII)  di Jakarta Islamic Index on the research period is from 2004 to 2017.Keywords: Exchange Rates, Industrial Production Index, Money Supply and Jakarta Islamic Index (JII)

scholarly journals THE EFFECT OF MACROECONOMIC VARIABLES IN PREDICTING INDONESIAN SHARIA STOCK INDEX

2019 ◽  
Vol 5 (2) ◽  
pp. 223
Author(s):  
Angga Khoerul Umam ◽  
Ririn Tri Ratnasari ◽  
Sri Herianingrum
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Industrial Production ◽  
Stock Index ◽  
Macroeconomic Variables ◽  
Production Index ◽  
Industrial Production Index ◽  
The Exchange Rate ◽  
The Impact

ABSTRACTThis study examines the impact of macroeconomic variables, namely the exchange rate, interest rates, industrial production index, SBIS and inflation on the Indonesian Islamic stock index. This study uses monthly data from May 2011 to December 2018. This research is a quantitative study that applies the Johansen Cointegration Test and Vector Error Correction Model to see the long-term impact and shock response on certain variables. The findings indicate the existence of short-term and long-term causality between macroeconomic variables and the Indonesian Islamic stock index. Especially in the long run, industrial production index and inflation have a significant effect on ISSI, while the exchange rate, interest rates and SBIS have no significant effect on ISSI. IRF results show that the response of each variable and stable at different times. The ISSI response experienced a positive shock that occurred in the industrial production index and inflation. On the other hand, the exchange rate, the Bungan rate and SBIS were responded negatively by ISSI.

The effect of the Trans-Anatolian Natural Gas Pipeline Project (TANAP) on industrial production in Turkey

2017 ◽  
Vol 11 (3) ◽  
pp. 404-415 ◽  
Author(s):  
Durmus Çagri Yildirim ◽  
Seyfettin Erdogan ◽  
Seda Yildirim ◽  
Hamit Can
Keyword(s):  
Natural Gas ◽  
Industrial Production ◽  
Energy Prices ◽  
Content Type ◽  
Production Index ◽  
Natural Gas Pipeline ◽  
Industrial Production Index ◽  
Pipeline Project ◽  
Positive Effect

Purpose The purpose of this study is to investigate the effect of the Trans-Anatolian Natural Gas Pipeline Project (TANAP) on industrial production in Turkey. The TANAP is a project which ensures the security of the country’s natural gas supply and encourages a decrease in energy prices. So, this study investigates TANAP’s efforts to decrease gas prices, as well as the effects of gas prices on industrial production. Design/methodology/approach The data include gas prices and industrial production index series. Gas prices are approached for industrial users (nonresidential) in Turkey and industrial production index series have been discussed for whole industries. The Johansen cointegration method has been used to analyze the data, spanning the period from 2005M01 to 2015M11. Findings Results indicate that the decrease in the energy prices has a positive effect on the industrial production index, which is accepted as a basic sign of economic growth. Accordingly, it has been proved that gas priced had a significant effect on industrial production in Turkish economy during the respective periods. Research limitations/implications This study has supported the argument that TANAP helps to decrease gas prices in Turkey. It can be said that a decrease in gas price is expected to have positive effect on industrial production in the long-term. Originality/value The present study shows that projects such as TANAP can help gas importing countries like Turkey to decrease gas prices and increase industrial production. In this context, this study supports projects that decreasing gas prices for energy importing countries in the long term.

scholarly journals Analisis Dinamis Hubungan Antara Harga Saham dan Variabel Makroekonomi

2021 ◽  
Vol 4 (1) ◽  
pp. 77-90
Author(s):  
Paulina Harun
Keyword(s):  
Exchange Rate ◽  
Interest Rates ◽  
Industrial Production ◽  
Stock Prices ◽  
Trade Balance ◽  
Short Term ◽  
Ardl Model ◽  
Production Index ◽  
Industrial Production Index

Previous research has proven the influence between interest rates, inflation, exchange rate, trade balance, industrial production index on stock prices. By using the Autoregressive Distributed Lag (ARDL) model approach and the 13 companies listed on the IDX, in this study, we will look deeper into the dynamics of long-term and short-term relationships for the aforementioned variables. The research period starts from January 2015 to December 2019, during which time there were many global upheavals that had a considerable impact on the Indonesian economy, through the ARDL model of interest rates, inflation, exchange rate, trade balance, industrial production index, and stock prices are proven to have long-term cointegration or move together in the long term. But not only in the long run, but these seven variables also have a dynamic short-term relationship that has a sufficient speed of adjustment towards equilibrium per month.

scholarly journals Dampak Makro Ekonomi dan Financial Performance Terhadap Market Share Perbankan Syari’ah di Indonesia

2020 ◽  
Vol 25 (1) ◽  
pp. 51
Author(s):  
Muh. K. Fatihin, Eko Siswahto, Sulistya Rusgianto, Nizar. H. Hadi
Keyword(s):  
Market Share ◽  
Industrial Production ◽  
Banking Sector ◽  
Domestic Product ◽  
Islamic Banking ◽  
Short Term ◽  
Production Index ◽  
Industrial Production Index ◽  
Banking Market

Islamic banking market share is the biggest contributor on the development of the Islamic financial market share. This study aims to comprehensively examine the sharia banking market share growth in short-term and long-term dynamic interactions. The independent variables used in this study are inflation, industrial production index (IPI), intrest rate, Return of Assets (ROA) and financing to Deposite Ratio (FDR). The method used is the Autoregressive Distributed Lag Model (ARDL) with monthly data from 2011-2018. The results of this study indicate that interest rates have a significant negative effect on Islamic banking market share in the short and long term. Meanwhile, inflation, ROA, FDR have a positive effect on the sharia banking market share in the short term. IPI's industrial production index as a proxy for domestic product (gross domestic product) has no short-term and long-term impact. The results of this study have important implications for the central bank and the banking sector.

Industrial Output in the USSR and Russia, 1861—2012. Part II. Crises and Cycles

2013 ◽  
pp. 138-153 ◽  
Author(s):  
S. Smirnov
Keyword(s):  
Industrial Production ◽  
Turning Points ◽  
Russian Empire ◽  
Industrial Output ◽  
Production Index ◽  
Russian Industry ◽  
Industrial Production Index ◽  
Cyclical Volatility

Calculation of the aggregated "consensus" industrial production index has made it possible to date cyclical turning points and to measure the depth and length of the main industrial recessions in Russian Empire/USSR/Russia for the last century and a half. The most important causes of all these recessions are described. The cyclical volatility of Soviet/Russian industry is compared to that of American one.

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