The Movement of Jakarta Composite Index (JCI) During the COVID-19 Pandemic from January 2020 to December 2021

Andika Wahyu Santoso and Eni Setyowati ()
Additional contact information
Andika Wahyu Santoso: Universitas Muhammadiyah Surakarta (UMS), Faculty of Economics and Business
Eni Setyowati: Universitas Muhammadiyah Surakarta (UMS), Faculty of Economics and Business

A chapter in Proceedings of the International Conference on Economics and Business Studies (ICOEBS-22-2), 2024, pp 1009-1020 from Springer

Abstract: Abstract The Covid-19 pandemic in 2020 which caused the stock market crash in capital markets around the world and Indonesia became the background for this research. The purpose of this study is to analyze changes in the Jakarta Composite Index during the Covid-19 pandemic whether it is influenced by the variables of Bank Indonesia interest rates, Rupiah exchange rate, Inflation, Dow Jones Index, and world gold prices. This study used an Ordinary Least Square (OLS) based multiple linear regression technique and used Eviews 10 data processing software. The data used in this study was a secondary monthly time series with a total of 24 observations. From the F test, it was found that the variables of Bank Indonesia interest rates, inflation, rupiah exchange rate, dow jones index, and world gold price together influenced the movement of the Jakarta Composite index during the Covid-19 pandemic. Through validity tests, significant variables in influencing the Jakarta Composite Index during the Covid-19 pandemic are the variables of the rupiah exchange rate and the Dow Jones index, while the variables of Bank Indonesia interest rates, Inflation, and world gold prices do not have a significant influence on the volatility of the Jakarta Composite Index during the Covid-19 pandemic.

Keywords: Jakarta Composite Index; Macro Economics; Covid-19 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:advbcp:978-94-6463-204-0_82

Ordering information: This item can be ordered from
http://www.springer.com/9789464632040

DOI: 10.2991/978-94-6463-204-0_82

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().