文章基本信息

标题：Covid-19, Financial Market Vulnerabilities and Dynamics Monetary Policy: Comparative Analysis
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作者：Sri ANDAIYANI ; Ariodillah HIDAYAT ; Fida MUTHIA 等
期刊名称：Management and Economics Review
电子版ISSN：2501-885X
出版年度：2022
卷号：7
期号：2
页码：159-172
DOI：10.24818/mer/2022.06-04
语种：English
出版社：Editura ASE
摘要：This study aims to analyze a comparative study of the response of the Indonesian and Malaysian Financial Markets to the dynamics of Monetary Policy implemented during the COVID-19 Pandemic during January 2019 to June 2021. This study builds three e.i interbank money market, bond market, and stock market. The methodology of this study is Ordinary Least Square (OLS). The result shows that COVID-19 has no effect on financial markets, either in Indonesia or in Malaysia. However, when the lockdown was implemented in Malaysia, it had a significant effect on the Malaysian bond market. Furthermore, monetary policy with interest rate instruments has a significant and negative effect on the stock market in Indonesia. The monetary policy through the reserve ratio has a significant and positive effect on the Malaysian bond market. It suggests that there are differences in the dynamics of monetary between Indonesia and Malaysia so that they have different impacts on their respective financial markets.
关键词：monetary policy; financial market; stock market; interest rate