Measuring the Potential Integration of Indonesian Sharia Capital Market with the OIC Member Countries
نویسندگان
چکیده
The Indonesian Composite Index (ICI) experienced a critical session, the data showed ICI fell by 6.58% which was biggest decline in last 9 years. prevailing notion that this pressure stemmed from prevalence of Covid-19 concern and is anticipated to be alleviated once disseminates further. purpose study determine causality long-term cointegration relationship between sharia stock Indonesia Organization Islamic Cooperation (OIC) member countries, as well contribution shares OIC such Egypt, Oman, Saudi Arabia, Kuwait, Turkey, Bahrain, Malaysia collapse capital market Indonesia. method used research quantitative using secondary form daily prices Sharia index sourced website www.investing.com. population countries related 56 members are active until 2021. For analysis, several tests were conducted, as; Testing Time Series Data, Vector Autoregressive (VAR), Granger Causality Test, Johansen Model Cointegration Contagion Effect Test. found that; has not been able prove existence exchange exchanges other than Malaysian exchange. However, proves interdependence exchanges, but long term, greater index. In addition, another finding during shock, position more independence, whereas occurred at beginning pandemic caused without JII or ISSI intervention
منابع مشابه
The Ranking Of The OIC Member Countries Based On Factors Influencing Their Inward Foreign Direct Investments
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ژورنال
عنوان ژورنال: Journal of Islamic Economics and Finance Studies
سال: 2023
ISSN: ['2723-6730', '2723-6749']
DOI: https://doi.org/10.47700/jiefes.v4i1.5765