Pengaruh Makro Ekonomi Terhadap Indeks Harga Saham Gabungan (IHSG)

This study is aimed to examine the effect of Indonesian macroeconomic in the capital market in Indonesia. Macroeconomics is represented by the exchange rate and interest rates. Meanwhile, Indonesia's capital market is reflected through JCI. Period used in this study include three, namely 2000-2011, before the global crisis (2000-July 2008) and the current global crisis (August 2008-2010). This study uses a quantitative approach using the Error Correction Model to determine the long-term and short-term effect caused by macroeconomic variables and its direction relations posed to JCI. The results of this study found that macroeconomic variables give effect to the JCI. Exchange rate changes give negative effect on the capital market in Indonesia