Analysis Of Macro Economic Variables On The Jakarta Islamic Index

Authors

  • Sela Selvia Department of Economic Development, Ahmad Dahlan University, Indonesia
  • Wahyu Nadia Department of Economic Development, Ahmad Dahlan University, Indonesia
  • Amalia Azzahra Jaelani Department of Economic Development, Ahmad Dahlan University, Indonesia
  • Widya Bunga Pramadila Department of Economic Development, Ahmad Dahlan University, Indonesia
  • Rifki Khoirudin Department of Economic Development, Ahmad Dahlan University, Indonesia

Abstract

Sharia shares have advantages over conventional shares. Sharia shares emphasize that transactions are halal and free from fraudulent manipulation. The development of sharia finance on the stock exchange has an important role because it provides various investment options for the community, especially the majority of the population in Indonesia is Muslim. This research aims to analyze the influence of macroeconomic variables, namely the Exchange Rate, Industrial Production Index, Mutual Funds, Inflation on the Jakarta Islamic Index in Indonesia during Covid-19 and post-Covid-19. Then this research uses time series data from 2019:M01-2023:M12 with the OLS method. The research results showed that the exchange rate variable had a positive effect on JII and inflation had a negative effect on JII. The implications of the research are that the government needs to increase people's purchasing power and maintain exchange rate stability.

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Published

2024-12-19

How to Cite

Sela Selvia, Wahyu Nadia, Amalia Azzahra Jaelani, Widya Bunga Pramadila, & Rifki Khoirudin. (2024). Analysis Of Macro Economic Variables On The Jakarta Islamic Index. Proceedings of Femfest International Conference on Economics, Management, and Business, 2(2), 99–105. Retrieved from https://ejournal.unida.gontor.ac.id/index.php/FICCOMSS/article/view/13400

Issue

Vol. 2 No. 2 (2024): Special Issue, The Proceeding of International Conference on Islamic Human Resources Management

Section

Articles