Analysing the Impact of Global Commodity Prices on the IDX Energy Index
DOI:
https://doi.org/10.47747/fmiic.v1i1.2203Abstract
This study aims to analyse the influence of global commodity prices on the energy index prices in Indonesia (IDXENERGY). As proxy of the research this research uses world crude oil prices, world gold prices, and world natural gas prices as the variable of global commodities. The research utilizes monthly time series data from January 2021 to December 2023. The ARDL (Autoregressive Distributed Lag) method is employed to model the short-term and long-term relationships between two or more variables. The study finds that, in the short term, world crude oil prices and world gold prices significantly affect the IDXENERGY index, while the world natural gas price variable does not have a significant impact. In the long-term analysis, no variable is found to have a significant influence on the IDXENERGY index.
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