Harry Aginta 교수

This article aims to re-examine the regional convergence hypothesis on income in Indonesia over the 2000–2017 period. By applying a non-linear dynamic factor model, this article tests the club convergence hypothesis using a novel dataset of income at the district level. The results show significant five convergence clubs in Indonesian districts’ income dynamics, implying the persistence of income disparity problems across districts even after implementing the decentralization policy. The subsequ

Abstract We analyze how regional economic structures affect the impact of monetary policy on rates of inflation across 34 Indonesian provinces. The paper first applies structural factor augmented vector autoregressive model (SFAVAR) to all the 34 provinces based on monthly provincial data in order to measure the length and magnitude of responses of regional inflation to monetary policy shock, derived from the consequential impulse response functions of 34 provinces. In the second step, we analyz

<title>Abstract</title> Reducing regional income disparities is a central challenge for promoting sustainable development in Indonesia. In particular, the prospect for these disparities to be reduced in the post-decentralization period has become a major concern for policymakers. Motivated by this background, this paper aims to re-examine the regional convergence hypothesis at the district level in Indonesia over the 2000-2017 period. By using non-linear dynamic factor model, this study analyzes

This study constructs financial inclusion indicator and analyzes the link of financial inclusion and income inequality for 33 provinces in Indonesia. By using Fixed Effect Panel Model, we find financial inclusion appears to have insignificant effect to on inequality at national level. While at sub-national level, adding other variables such as GRDP, years of schooling, and trade openness, we find financial inclusion appears to have negative and significant impact on income inequality in manufact

This study re-examines regional price convergence across 82 cities in Indonesia. We implement club convergence analysis developed by Phillips and Sul (2007, 2009) on monthly aggregate consumer price data and its components from January 2014 to December 2019. We do not find evidence of overall convergence in aggregate consumer price data. Instead, we identify four club convergence. Using disaggregated data, four new outcomes arise; first, none of the consumer price components show overall converg

This study examines inflation dynamics in Indonesia, a large archipelagic country, using the Phillips curve specification. Utilising province‐level data from 2015 to 2019, the analysis accounts for regional interaction across Indonesian provinces and estimates spatial spillovers. To address the challenges of applying spatial methods to the world's largest archipelagic nation, two new approaches for the spatial weight matrix criteria are introduced: contiguity‐based from artificial boundaries (Th

This paper investigates the regional Okun’s law across 514 districts of Indonesia over the 2011–2020 period. To handle the endogeneity issue, we apply a two-stage least squares (2SLS) model and use regional temperature as instrument for economic growth. Our results show that the Okun’s coefficient becomes statistically significant only after endogeneity is addressed. Consistent with the prevalent economic divide between the western and eastern regions of Indonesia, we find that Okun’s law applie

Abstract This paper investigates the reasons for heterogeneous monetary policy effects on inflation rate across 34 Indonesian provinces. We evaluate monetary transmission by combining monetary SVAR model with factor analysis (Bernanke et al., 2005). In the first part of analysis, we demonstrate the cross-sectional variation in regional inflation responses to monetary policy shock. Spatially, most provinces in the Java-Bali region have similar responses to the national response. Moreover, provinc

The dataset is used in the paper entitled Regional economic structure and heterogeneous effects of monetary policy. Please contact the authors for further inquiries.

It is widely believed that financial inclusion aids inclusive growth and reducing inequality. This study constructs financial inclusion indicator and analyzes the link of financial inclusion and income inequality for 33 provinces in Indonesia. In extension to analyses at national level, estimation has been done by dividing provinces into three categories which are agriculture, manufacture, and mining economies. By using Fixed Effect Panel Model, we find financial inclusion appears to have insign

The dataset is used for estimating Phillips curve using regional data of Indonesia with dynamic spatial Durbin model.