Investigating the Dynamic Relationship Among JKSE, S&P 500, Cryptocurrencies and Gold Price After Covid-19 Outbreak

DOI

10.2991/aebmr.k.210220.014How to use a DOI?

Keywords

Key Covid-19, JKSE, S&P 500, Gold, Bitcoin

Abstract

This study aims to examine the dynamic relationship between the JKSE, S&P 500, gold prices, and bitcoin prices after WHO declared Covid-19 a global pandemic. The data used is daily data from March to November 2020 which follows trading days in the Indonesian capital market. Furthermore, this research uses VAR modelling to see how the impact of the Covid-19 pandemic on the relationship between the JCI, S&P 500, gold prices and bitcoin prices. The results showed that in the short term the S&P 500 has a positive and significant effect on JKSE, but in the long run it has no significant positive effect, in the long run the gold price has a negative and significant effect on JKSE and vice versa has no effect in the short term, both in the long term and in the short-term bitcoin has a negative and significant effect on JKSE. This research also shows that apart from gold, bitcoin has also become a safe haven for investors.

Copyright

© 2021, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Didik Gunawan
AU  - Mangasi Sinurat
AU  - Lukito Cahyadi
AU  - Rico Nur Ilham
PY  - 2021
DA  - 2021/02/22
TI  - Investigating the Dynamic Relationship Among JKSE, S&P 500, Cryptocurrencies and Gold Price After Covid-19 Outbreak
BT  - Proceedings of the International Conference on Strategic Issues of Economics, Business and, Education (ICoSIEBE 2020)
PB  - Atlantis Press
SP  - 71
EP  - 75
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.210220.014
DO  - 10.2991/aebmr.k.210220.014
ID  - Gunawan2021
ER  -