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THE ROLE OF MACROECONOMIC VARIABLES ON ISLAMIC STOCKS FOR ACHIEVING SDGS IN INDONESIA

Dina Yustisi Yurista and Rosida Dwi Ayuningtyas

Jurnal Ekonomi dan Keuangan Islam, 2019, vol. 5, issue 2, 93-100

Abstract: This paper aims to analyse macro-economic variables such as industrial production index (IPI), exchange rate, gross domestic product (GDP), and inflation which can affect the movement of Islamic stocks price in order to contribute the sustainable development goals in Indonesia. The methodology of this study is quantitative approach with Error Correction Model (ECM). The data is obtained from Bank Indonesia, Central bureau of statistics Indonesia and Indonesia Stock Exchange during period January 2013 to December 2018 quarterly. The findings showed that IPI has positive effect, while the exchange rate has a negative effect on Islamic stock price. Also GDP and inflation variables has negative in some companies and positive effect in other companies.

Keywords: Islamic stocks; Macroeconomic; Sustainable Development Goals (search for similar items in EconPapers)
JEL-codes: E44 G23 O11 Z12 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:uii:jekife:v:5:y:2019:i:2:p:93-100

DOI: 10.20885/JEKI.vol5.iss2.art6

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