2023
DOI: 10.21511/imfi.20(4).2023.07
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Determinants of Indonesian stock market development: Implementation of an ARDL bound testing approach

Elmira Siska,
Oyyappan Duraipandi,
Purwanto Widodo

Abstract: The Indonesian stock market is a growing financial industry that plays a strategic role in the growth of the country’s economy. Its development is affected by various factors. This study examined the impact of the exchange rate, gross domestic product (GDP), interest rates, inflation, foreign portfolio investment (FPI), and domestic political stability on stock market capitalization. Quarterly data between 2000:Q1 and 2020:Q4 are used. The autoregressive distributed lag (ARDL) method is applied to identify lon… Show more

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Cited by 2 publications
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