Is the Relationship between Exchange Rates and Islamic Indices in Indonesia and Malaysia?
| Main Author: | Purbowisanti, Ratih -; Alma Ata University |
|---|---|
| Format: | Article info application/pdf eJournal |
| Bahasa: | eng |
| Terbitan: |
IAIN Tulungagung
, 2018
|
| Subjects: | |
| Online Access: |
http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/view/605 http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/view/605/pdf http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/downloadSuppFile/605/10 |
| ctrlnum |
article-605 |
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<dc schemaLocation="http://www.openarchives.org/OAI/2.0/oai_dc/ http://www.openarchives.org/OAI/2.0/oai_dc.xsd"><title lang="en-US">Is the Relationship between Exchange Rates and Islamic Indices in Indonesia and Malaysia?</title><creator>Purbowisanti, Ratih -; Alma Ata University</creator><subject lang="en-US">exchange rate; islamic index</subject><description lang="en-US">This study is aimed to analyze the causal relationship between the exchange rates and Islamic indices in Indonesia and Malaysia, and the long-term relationship of the two variables. Indonesia is represented by the value of the rupiah to US dollar and the Jakarta Islamic Index while Malaysia is represented by the exchange rate of the ringgit to US dollar and the FTSE Bursa Malaysia Hijrah Shariah Index. By using the Vector Autoregression (VAR) model, it can be concluded that the relationship between Jakarta Islamic index is a unidirectional relationship, where the Jakarta Islamic Index affects the exchange rate. The relationship between Malaysia Islamic index has a bidirectional relationship, where the exchange rate affects the FTSE Bursa Malaysia ringgit Hijrah Shariah Index and FTSE Bursa Malaysia Hijrah Shariah Index affects the ringgit exchange rate. Through the study is also concluded that the exchange rate with Islamic indices in Indonesia and Malaysia has a long-term relationship. Keywords: Rupiah, Ringgit, Jakarta Islamic Index, the FTSE Bursa Malaysia Hijrah Shariah Index, VECM</description><publisher lang="en-US">IAIN Tulungagung</publisher><date>2018-04-25</date><type>Journal:Article</type><type>Journal:Article</type><type>Other:info:eu-repo/semantics/publishedVersion</type><type>File:application/pdf</type><identifier>http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/view/605</identifier><identifier>10.21274/an.2018.4.2.30-52</identifier><source lang="en-US">An-Nisbah: Jurnal Ekonomi Syariah; Vol 4, No 2 (2018): An-Nisbah; 30-52</source><language>eng</language><relation>http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/view/605/pdf</relation><relation>http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/downloadSuppFile/605/10</relation><rights>The author has full rights to the articles that has been sent to An-Nisbah: Jurnal Ekonomi Syariah. The author is responsible for the originality of the articles and all the references used in the journal script.</rights><recordID>article-605</recordID></dc>
|
| language |
eng |
| format |
Journal:Article Journal Other:info:eu-repo/semantics/publishedVersion Other File:application/pdf File Journal:eJournal |
| author |
Purbowisanti, Ratih -; Alma Ata University |
| title |
Is the Relationship between Exchange Rates and Islamic Indices in Indonesia and Malaysia? |
| publisher |
IAIN Tulungagung |
| publishDate |
2018 |
| topic |
exchange rate islamic index |
| url |
http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/view/605 http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/view/605/pdf http://ejournal.iain-tulungagung.ac.id/index.php/nisbah/article/downloadSuppFile/605/10 |
| contents |
This study is aimed to analyze the causal relationship between the exchange rates and Islamic indices in Indonesia and Malaysia, and the long-term relationship of the two variables. Indonesia is represented by the value of the rupiah to US dollar and the Jakarta Islamic Index while Malaysia is represented by the exchange rate of the ringgit to US dollar and the FTSE Bursa Malaysia Hijrah Shariah Index. By using the Vector Autoregression (VAR) model, it can be concluded that the relationship between Jakarta Islamic index is a unidirectional relationship, where the Jakarta Islamic Index affects the exchange rate. The relationship between Malaysia Islamic index has a bidirectional relationship, where the exchange rate affects the FTSE Bursa Malaysia ringgit Hijrah Shariah Index and FTSE Bursa Malaysia Hijrah Shariah Index affects the ringgit exchange rate. Through the study is also concluded that the exchange rate with Islamic indices in Indonesia and Malaysia has a long-term relationship. Keywords: Rupiah, Ringgit, Jakarta Islamic Index, the FTSE Bursa Malaysia Hijrah Shariah Index, VECM |
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