Open AccessGLOBALISASI PASAR MODAL DUNIA DAN PENGARUHNYA TERHADAP PASAR MODAL INDONESIA
Author(s) -
R. Adisetiawan
Publication year - 2017
Publication title -
ekonomis : journal of economics and business
Language(s) - English
Resource type - Journals
ISSN - 2597-8829
DOI - 10.33087/ekonomis.v1i1.19
Subject(s) - cointegration , capital market , granger causality , stock exchange , economics , index (typography) , indonesian , stock market , stock market index , causality (physics) , financial economics , monetary economics , econometrics , geography , finance , context (archaeology) , linguistics , philosophy , archaeology , world wide web , computer science , physics , quantum mechanics
This study aims to prove causality, cointegration and the influence of global capital markets with a market capital of Indonesia for the period 2001-2016 with a Granger causality test statistics, cointegration tests and Multiple Regression testing. These results prove that the 99% confidence interval occurred a long term relationship (cointegration) and the significant influence of global market indices with the Indonesia capital market index (CSPI) in Indonesia Stock Exchange (IDX) for the period 2001 to 2016, it indicates that Indonesia's economy has been integrated with global capital markets with varying levels of integration, but is causally there is only one country that has a causal relationship with the Indonesian stock market index (CSPI), the Taiwan stock market index (TWSE).Keywords: Capital Market Integration