Fachry Khairullah, . (2026) PENGARUH VARIABEL MAKROEKONOMI DOMESTIK DAN GLOBAL TERHADAP JAKARTA ISLAMIC INDEX PERIODE 2016-2026. Skripsi thesis, Universitas Pembangunan Nasional Veteran Jakarta.
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Abstract
The Jakarta Islamic Index (JII) is a sharia stock index that represents the performance of Indonesia’s Islamic capital market, yet its movement has been fluctuating due to domestic and global macroeconomic variables. This study analyzes the partial and simultaneous influence of inflation, interest rate, and the US dollar exchange rate as domestic variables, along with the Dow Jones Islamic Market and the MSCI World Islamic Index as global variables, on JII during June 2016-February 2026. A quantitative approach is used with monthly secondary data analyzed through the Autoregressive Distributed Lag (ARDL) model. The results show that, partially, inflation has a positive and significant effect, while the exchange rate has a negative and significant effect on JII in both the short and long term. In contrast, interest rate, Dow Jones Islamic Market, and MSCI World Islamic Index show no significant effect on JII. Simultaneously, all five variables significantly affect JII, with an R-Squared value of 0.3789, indicating that 37.89% of JII’s variation is explained by this research model. These findings suggest that JII’s movement is more influenced by domestic macroeconomic factors than global ones, providing useful considerations for investors and regulators in Indonesia’s Islamic capital market.
| Item Type: | Thesis (Skripsi) |
|---|---|
| Additional Information: | [No. Panggil: 2210116025] [Pembimbing: Faizi] [Penguji 1: Prima Dwi Priyatno] [Ketua Penguji: Muhammad Anwar Fathoni] |
| Uncontrolled Keywords: | Dow Jones Islamic Market, Exchange Rate, Inflation, Interest Rate, Jakarta Islamic Index, Macroeconomics, MSCI World Islamic Index |
| Subjects: | H Social Sciences > HC Economic History and Conditions H Social Sciences > HG Finance |
| Divisions: | Fakultas Ekonomi dan Bisnis > Program Studi Ekonomi Syariah (S1) |
| Depositing User: | FACHRY KHAIRULLAH |
| Date Deposited: | 29 Jul 2026 09:52 |
| Last Modified: | 02 Sep 2026 06:04 |
| URI: | http://repository.upnvj.ac.id/id/eprint/51863 |
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