Interdependence between Islamic Capital Market and Money Market: Evidence from Indonesia

@article{Wahyudi2014InterdependenceBI,
  title={Interdependence between Islamic Capital Market and Money Market: Evidence from Indonesia},
  author={I. Wahyudi and Gandhi Anwar Sani},
  journal={International Corporate Finance eJournal},
  year={2014}
}
This study investigate VAR TodaeYamamoto causality test between macroeconomic variables and Islamic financial market. The purpose of this study is to analyze the information content of Islamic capital market and money market return with respect to macroeconomic and global factors. Using bivariate method, we found that Islamic capital market index (JII) has more content information than Islamic money market index (SBIS). The exchange rate and VIX index significantly affected JII. Otherwise, only… Expand
THE SHORT- AND LONG-RUN RELATIONSHIP IN INDONESIAN ISLAMIC STOCK RETURNS
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