Analysis Of Macroeconomic Influences On The Islamic Stock Index In 11 OIC Countries For The Period 2014-2023
| Authors | ||
| Issue | Vol 9 No 1 (2026): Talenta Conference Series: Local Wisdom, Social, and Arts (LWSA) | |
| Section | Articles | |
| Section |
Copyright (c) 2026 Talenta Conference Series: Local Wisdom, Social, and Arts (LWSA)  This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License. |
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| Galley | ||
| DOI: | https://doi.org/10.32734/lwsa.v9i1.2773 | |
| Keywords: | Islamic Stock Index Inflation Economic Growth Panel Regression Interest Rates | |
| Published | 2026-03-09 |
Abstract
This study aims to test and analyze the effect of inflation, economic growth and interest rates on the Islamic stock index in 11 OIC countries in 2014-2023. The type of research used in this study is descriptive quantitative while the data source used in this study is secondary data derived from the World Bank. The object of this research is 11 OIC countries. This study uses panel data with a cross section of 11 OIC countries and a time series for 10 years, starting from 2014 to 2023. The analysis method used is panel regression. The results of this study indicate that the best model is Fixed Effect. Based on the regression results, it is known that partially the independent variable interest rate has a negative and significant effect on the Islamic Stock Index. While the variables of inflation and economic growth have no influence on the Islamic stock index. Simultaneously, the independent variables, namely inflation, economic growth and interest rates, have a significant influence on the Islamic stock index in 11 OIC countries with a Prob (F-statistic) value of 0.00000 <0.05.
