Unveiling the Nexus of Consumer Price Index, Economic Policy Uncertainty, Geopolitical Risks, and Gold Prices on Indonesian Sustainable Stock Market Performance

Susilo Nur Aji Cokro Darsono, Ecky Imamul Muttaqin, Revy Andika Rahmadani and Tran Thai Ha Nguyen
Additional contact information
Susilo Nur Aji Cokro Darsono: Department of Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Yogyakarta, Indonesia
Ecky Imamul Muttaqin: Department of Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Yogyakarta, Indonesia; & Department of Economics, Faculty of Economics and Business, Universitas Islam Internasional Indonesia, Depok, Indonesia
Revy Andika Rahmadani: Department of Economics, Faculty of Economics and Business, Universitas Muhammadiyah Yogyakarta, Yogyakarta, Indonesia
Tran Thai Ha Nguyen: Faculty of Economics, Ho Chi Minh City University of Economics and Finance, Ho Chi Minh City, Vietnam

International Journal of Economics and Financial Issues, 2024, vol. 14, issue 6, 128-135

Abstract: This study contributes to evaluate capital market performances categorized as sustainable stocks in Indonesia. The aim of the proposed model is to examine the impact of the Consumer Price Index, Economic Policy Uncertainty, Geopolitical Risk, and Global Gold Prices on the SRI-KEHATI Index. The study will cover the study period from January 2017 to December 2022. The ARDL approach is employed to see impacts in both long-term and short-term. The findings indicate that in the short run, the variables Consumer Price Index and Geopolitical Risk have a notable positive impact on the SRI-KEHATI Index, while World Gold Prices have a substantial negative impact. However, the variable Economic Policy Uncertainty does not have a significant effect on the SRI-KEHATI Index. In addition, over an extended period of time, the variables of Economic Policy Uncertainty and Geopolitical Risk exhibit a notable and constructive impact on the SRI-KEHATI Index. Compared to the long-term impact of the Consumer Price Index on Gold Prices is negligible.

Keywords: SRI-KEHATI Index; Consumer Price Index; Economic Policy; Geopolitical Risk; Gold Price (search for similar items in EconPapers)
JEL-codes: E2 G1 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijefi/article/download/16685/8274 (application/pdf)
https://www.econjournals.com/index.php/ijefi/article/view/16685 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2024-06-14

Access Statistics for this article

International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk

More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().