@article{Hardianto_2011, title={PENGARUH VARIABEL MONETER TERHADAP INDEKS HARGA SAHAM SEKTOR KEUANGAN DI INDONESIA: ERROR CORRECTION MODEL}, volume={13}, url={https://journal.uii.ac.id/JEP/article/view/1999}, DOI={10.20885/ejem.v13i3.1999}, abstractNote={The aim of this research is to analyse the effect of monetary variables on financial sector composite index in Indonesia by using error correction model for 1997:1-2006:4 period. The result of cointegration test shows that there is a long-run or equilibrium relationship between financial sector composite index and monetary variables such as deposit interest rate, SIBOR interest rate, exchange rate, and economic growth. Both short-term and long-term, financial sector composite index are influenced by exchange rate significantly. Implication of this research is that exchange rate stabilization policy can affect Indonesian capital market growth, especially in financial sector.<br /><br />Keywords: financial sector composite index, monetary variable, error correction model}, number={3}, journal={Economic Journal of Emerging Markets}, author={Hardianto, Florentinus Nugro}, year={2011}, month={Mar.} }