Article Sidebar

Download
PDF
Statistic
Read Counter : 1048 Download : 1112

Downloads

Download data is not yet available.

Main Article Content

Abstract

The financial crisis in the United State on September 2008 has created global impact to the world economy, including the performace of capital markets. Most of market indexes around the world fall down significantly, including market  indexes in Bursa Efek Indonesia (BEI). There were five market index in BEI, namely IHSG, LQ 45, MBX, DBX,  and JII. This research is mainly aim to examine the influence of the US financial crisis to the performace of JII and IHSG. In addition, the  relation of  JII and IHSG to DowJones Index, Tokyo Index, and Hongkong Index  are also examined. To get the aim done, a Vector Autoregressive Model (VAR) is utilized. VAR is an appropriate model to examine a simultaneous relationship with capability to tract impulse response among variables. The research findings show the US financial crisis has created significant shocks toward JII and IHSG during September to October 2008. Both IHSG and JII has constantly decrease during 8 weeks, but IHS was getting recovered quicker than JII. The investment rather than speculation motive of the players in JII cound be the answer for this finding.

Article Details

License

Copyright (c) 2017 Author

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Authors who publish with this journal agree to the following terms:

  1. Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
  2. Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
  3. Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).
How to Cite
Fitriany, F. (2017). ANALISA PENGARUH KRISIS GLOBAL FINANCIAL TERHADAP JAKARTA ISLAMIC INDEX (JII) DAN INDEX HARGA SAHAM GABUNGAN (IHSG). Jurnal Ekonomi & Keuangan Islam, 2(1), 1–12. https://doi.org/10.20885/jeki.vol2.iss1.art1
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX
Crossref
Scopus
Google Scholar
Europe PMC

References

  1. Gujarati, Damodar N, Basic Econometrics, 4th edition, McGraw-Hill, Inc, New York. 2003.
  2. Hatter Mary Louise, Macroeconomics for Management, 2nd edition, Prentice-Hall, Englewood Cliffs, New Jersey, 1996.
  3. Huda Nurul, Mustafa Edwin Nasution, Investasi Pada Pasar Modal Syariah, Kencana, 2007.
  4. Laboratorium Komputasi Departemen Ilmu Ekonomi FEUI, Modul Analisa Software Ekonometrika. 2005
  5. Lestari Murti, Pengaruh variabel makro terhadap return saham di Bursa Efek Jakarta Pendekatan beberapa model, Paper Seminar Nasional Akuntansi VIII, 2005
  6. Roberts S Pindyck and Daniel, L Rubinfeld, 1998, Econometric Models and Economic Forecast, 4th edition, Irwin Mcgraw-hill, New York.
  7. Nahrowi Djalal, Hardius Eko, Memahami Model ARCH dan GARCH, Bahan Kuliah Ekonometri 2, Program Ilmu Akuntansi, FEUI.
  8. Riyanto, Bahan Kuliah Ekonometri 2, Program Pasca Ilmu Akuntansi, FEUI.
  9. Ludovicus Sensi Wondabio, Analisa Hubungan Index Harga Saham Gabungan (IHSG) Jakarta (JSX), London (FTSE), Tokyo (Nikkei) Dan Singapura (SSI), Suatu Studi Empiris Tahun 2000 – 2005, Paper Simposium Nasional Akuntansi 9 Padang, 2006
  10. http://id.wikipedia.org/wiki/Jakarta Islamic Index
  11. www.infovesta.com
  12. www.yahoo.finance.com
  13. http://www.economy.okezone.com