期刊名称：International Journal of Academic Research in Business and Social Sciences
电子版ISSN：2222-6990
出版年度：2018
卷号：8
期号：12
页码：1236-1248
DOI：10.6007/IJARBSS/v8-i12/5210
语种：English
出版社：Human Resource Management Academic Research Society
摘要：This study aims to analyze the effect of monetary policy and Kuala Lumpur Stock Exchange (KLSE) on the Jakarta Composite Index (IHSG) in Indonesia. The monthly secondary data from June 2005 to June 2016 is used in this analysis by using Vector Autoregressive (VAR) Model. The result shows that both exchange rate and KLSE have positive sign and significant, while BI-RATE has negative sign and significant. Based on the results, the authors suggested that the government in this case Indonesian Central Bank has to be careful in deciding the benchmark interest rate (BI-Rate) to maintain the stability of exchange rate, so that IHSG was able to show a positive trend.
