ERROR CORRECTION MODEL ANALYSIS OF IHSG IN A MACROECONOMIC PERSPECTIVE

Vadilla Mutia Zahara; Stannia Cahaya Suci; Suhroji Adha

doi:10.53625/jirk.v1i12.2459

Authors

Vadilla Mutia Zahara Department of Economic Development, Universitas Sultan Ageng Tirtayasa, Indonesia
Stannia Cahaya Suci Department of Economic Development, Universitas Sultan Ageng Tirtayasa, Indonesia
Suhroji Adha Department of Management, Universitas Faletehan, Indonesia

DOI:

https://doi.org/10.53625/jirk.v1i12.2459

Keywords:

IHSG, BI Rate, GDP, Exchange Rate, ECM

Abstract

An increase in the IHSG indicates that the capital market is bullish (increasing), on the other hand, if it decreases, it indicates that the capital market is bearish (decreasing). The incident was influenced by several macroeconomic factors. Among the macroeconomic factors that influence on the IHSG movement are inflation, interest rates (BI rate), Gross Domestic Product and Exchange Rates. IHSG represents all stock price movements traded on the Indonesia Stock Exchange. This study aims to determine the effect of inflation, interest rates (BI rate), Gross Domestic Product and Exchange Rates on the Composite Stock Price Index in the long and short term. Simultaneously, inflation, interest rates (BI rate), Gross Domestic Product and Exchange Rates have a significant impact in the long and short term.

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