Denny Irawan, S.E., M.S.E., Ph.D.

Deputy Head, Business Climate and Global Value Chain Research Group

Denny joined LPEM FEB UI since 2012 and since 2021 appointed as Deputy Head of Business Climate and Global Value Chain Research Group. He is also a lecturer at the Department of Economics FEB Universitas Indonesia and researcher at the Centre for Applied Macroeconomic Analysis (CAMA), The Australian National University. His principal academic publication appear in Journal of Economic Dynamics and Control (JEDC) and Geoderma. His research interests include macroeconomic uncertainty, corporate finance, sustainable finance, natural resource companies, and banking. Denny has passed CFA Level 1 exam.

Denny has involved in more than 50 research and consulting activities. His portfolio include economic and fiscal impact valuation, public infrastructure analysis, perception survey, macroeconomic and financial forecasting, and economic planning. He has supported various notable clients, including The World Bank, Asian Development Bank, Ministry of Industry, Ministry of Energy and Mineral Resources, Ministry of National Development Planning (BAPPENAS), Special Task Force for Oil and Gas (SKK Migas), Bank Indonesia, Financial Service Authority (OJK), Bank Central Asia, Bank Rakyat Indonesia, Bank Mandiri, Indonesia Infrastructure Guarantee Fund (IIGF), POSCO, Pertamina, INPEX Corp, Hutama Karya, and INALUM.

Denny obtained his PhD in Economics (2021) from Arndt-Corden Department of Economics (ACDE) and Centre for Applied Macroeconomic Analysis (CAMA), Crawford School of Public Policy, The Australian National University. He obtained his Bachelor of Economics (SE) and Master of Science in Economics (MSE) from Faculty of Economics and Business, Universitas Indonesia, in 2013 and 2017.

His complete profile and CV can be accessed on www.denny-irawan.org

Email: denny.irawan06@ui.ac.id / denny.denny.irawan@gmail.com

Publication

1. Irawan, Denny & Okimoto, Tatsuyoshi. 2021. Overinvestment and Macroeconomic Uncertainties: Evidence from Renewable and Non-Renewable Resource Companies. Journal of Economic Dynamics and Control (JEDC), Vol 126, 2021, 103973.
2. Irawan, Denny (4th author). 2019. Rates and Spatial Variability of Peat Subsidence in Acacia Plantation and Forest Landscapes in Sumatra, Indonesia. Geoderma, vol 338, March 2019, pp 410-421.
3. Irawan, Denny & Kacaribu, Febrio. 2017. Tri-Cycles Analysis on Bank Performance: Panel VAR Approach. Bulletin of Monetary Economics and Banking (BEMP), Vol 19, No 4.
4. Irawan, Denny. 2020. Book Review: Central Bank Policy: Theory and Practice by Perry Warjiyo and Solikin M. Juhro. Economics and Finance in Indonesia (EFI), Vol. 66, No. 1, June 2020: 77-78.
5. Irawan, Denny & Okimoto, Tatsuyoshi. Conditional Capital Surplus and Shortfall across Renewable and Non-Renewable Resource Firms. RIETI Discussion Paper Series 21-E-031.
6. Irawan, Denny & Okimoto, Tatsuyoshi. Macro Uncertainties and Tests of Capital Structure Theories across Renewable and Non-Renewable Resource Companies. RIETI Discussion Paper Series 21-E-055.
7. Irawan, Denny & Okimoto, Tatsuyoshi. How Does ESG Performance Affect Firm Value and Corporate Overinvestment? RIETI Discussion Paper Series 21-E-033.
8. Van der Eng, Pierre & Irawan, Denny. 2020. Infrastructure Development and Economic Growth in Indonesia: A Macro-economic Perspective.
9. Kacaribu, Febrio & Irawan, Denny. 2018. Systemic Risk Cycles: Evidence from ASEAN-5. LPEM-FEBUI Working Paper – 028, November 2018.
10. [In Indonesian language] Irawan, D., Jati, W.R., Karnalim, O., Sidiq, A. (Eds). 2020. Making Indonesia 4.0: Collection of Articles from Indonesian Students in Australia. Yayasan Pustaka Obor Indonesia, Jakarta.
11. Irawan, Denny. 2020. Communication key to gaining trust in Indonesia’s Sovereign Wealth Fund (SWF). The Jakarta Post, Nov 4th 2020.
12. Irawan, Denny. 2020. Preparing for Indonesia’s Post-Crisis Fiscal Policy. Kontan, Nov 13th, 2020.

Research and Consulting Activities

1. [Oct 2012 – Jan 2013] Review of Indonesia National Aerospace Policy. Client: National Institute of Aeronautics and Space of Indonesia (LAPAN).
2. [Oct 2013 – Jan 2014] Economic Planning of Development of Indonesia National Spaceport. Client: National Institute of Aeronautics and Space of Indonesia (LAPAN).
3. [Apr 2014 – Aug 2014] Study of Campaign Fund of Indonesia Member of Parliament Election. Client: Internal LPEM research.
4. [Apr 2014 – Jan 2015] Daily Market Update. Client: Bank Central Asia. Description: Being a contributor to daily market update publication.
5. [Jun 2014 – Nov 2014] Economic Masterplan of North Kalimantan Province. Client: Government of North Kalimantan Province.
6. [Jun 2014 – Aug 2014] Formulation of Economic Indicators for Development Evaluation in East Belitung Regency. Client: Government of East Belitung Regency.
7. [Apr 2014 – Aug 2014] Study of Land-Use Limitation for Housing in Indonesia. Client: Indonesia Real Estate Association (REI).
8. [Sep 2014] Training in Academic and Journal Writing. Client: Indonesia Ministry of National Development and Planning (Bappenas).
9. [Oct 2014 – Dec 2014] Economic and Fiscal Impact of Investment of Hot-Rolled, Cold-Rolled, and Galvanized Steel Plant of Krakatau Nippon Sumikin Steel (KNSS). Client: Krakatau Nippon Sumikin Steel (KNSS).
10. [Nov 2014 – Jan 2015] Economic and Fiscal Impact of Investment of Section and Bar Mill Project of Krakatau Osaka Steel (KOS). Client: Krakatau Osaka Steel (KOS).
11. [Nov 2014 – Dec 2014] Fiscal Potential of North Kalimantan Province. Client: Government of North Kalimantan Province.
12. [Jan 2015 – Apr 2015] Economic and Fiscal Impact of Investment of Aluminum Smelting Plant. Client: Indonesia Asahan Aluminum (INALUM).
13. [Feb 2015 – Apr 2015] Economic and Fiscal Impact of Martabe Gold Mines at South Tapanuli. Client: Agincourt Resources (G-Resources).
14. [Feb 2015 – Apr 2015] Study of Luxurious Tax for High-Class Apartment. Client: Indonesia Real Estate Association (REI).
15. [Mar 2015 – Jun 2015] Study of Supply and Demand of Labor in Indonesia. Client: Asian Development Bank (ADB).
16. [Jul 2015 – Dec 2015] Study of Facilitation Scheme to Enhance Industrial Competitiveness. Client: Ministry of Industry, Republic of Indonesia.
17. [Sep 2015 – Dec 2015] Study of Optimization of Economic and Social Impact of Freeport Indonesia. Client: Ministry of Energy and Mineral Resources, Republic of Indonesia.
18. [Sep 2015 – Dec 2015] Study of Economic and Social Impact of Future Mineral-based Industry in Papua. Client: Ministry of Energy and Mineral Resources, Republic of Indonesia.
19. [Mar 2016 – Sep 2016] Economic and Fiscal Impact of Martabe Gold Mines at South Tapanuli – Extended Study. Client: Agincourt Resources (G-Resources).
20. [Mar 2016 – Sep 2016] Study of Financing Scheme to Support Regional-Owned Enterprise to Participate in Local Oil and Gas Industry. Client: Indonesian Special Task Force for Upstream Oil and Gas Business (SKK-Migas).
21. [Jan 2017 – Apr 2017] Economic Impact Modeling for Infrastructure Project: Toll Road, Palapa Ring and Public Water. Client: Indonesia Infrastructure Guarantee Fund (IIGF).
22. [May 2017 – Aug 2017] Economic Impact Modeling for Ethanol Industry in Indonesia. Client: Indonesia Business Association (APINDO).
23. [May 2017 – Sep 2017] Quantitative Assessment of Indonesia’s Economic Policy Reform Package. Client: The World Bank (WB), Indonesia Office.
24. [Jul 2017 – Aug 2017] Economic Impact Valuation of 10 MT Steel Cluster – Updated Study. Client: POSCO Research Institute (POSRI).
25. [Aug 2017 – Nov 2017] Economic Impact Valuation of Gosowong Gold Mine. Client: Nusa Halmahera Mining (NHM).
26. [Oct 2017 – Dec 2017] Forecasting Model for Regional Saving and Credit: FAVAR Approach. Client: Bank Rakyat Indonesia (BRI).
27. [Feb 2018 – Jun 2018] Value Capture Study of Trans-Sumatera Toll Road. Client: Indonesia Infrastructure Fund (IIF) and Hutama Karya (HK).
28. [Feb 2018 – May 2018] Economic Impact Valuation of Revitalization of Seven Oil and Gas Refineries in Indonesia. Client: Pertamina (Persero).
29. [Feb 2018 – May 2018] Economic Impact Valuation of Coal Mines Activities in Angsana, South Kalimantan. Client: Borneo Indo Bara (BIB), Sinarmas Mining.
30. [Feb 2018 – May 2018] Economic Impact Potentials of Government Regulation on Peatland Management to Palm Oil Industry. Client: Indonesia Palm Oil Association (IPOA).
31. [May 2018 – Aug 2018] Economic Impact of Kertajati Airport for National and Regional Economy. Client: Kertajati International Airport.
32. [Jun 2018 – Oct 2018] Economic and Fiscal Impact of Abadi Field – Masela OLNG Development. Client: INPEX.
33. [Nov 2018 – Jan 2019] Study of Economic and Fiscal Impact Potential of Tuban Petro Group Expansion Plan. Client: Tuban Petro Group.
34. [Sep 2011] Study of Behavioral Economics and Game Theory. Client: A Researcher for Warwick University. Description: Helping an experimental survey in Depok, Indonesia.
35. [Oct 2012 – Dec 2012] Scheme Planning for Feed-in-Tariff. Client: Ministry of Energy and Mineral Resources, Republic of Indonesia.
36. [Oct 2012 – Dec 2012] Roadmap Planning for Feed-in-Tariff. Client: National Energy Council, Republic of Indonesia.
37. [Jan 2014 – Mar 2014] Impact Evaluation of 2008 Crisis on Indonesia Trade Performance. Client: Ministry of Trade, Republic of Indonesia.
38. [Mar 2014 – May 2014] Study on Indonesia Coffee and Rubber Export Performance. Client: Ministry of Trade, Republic of Indonesia.
39. [Nov 2017] Evaluation of Early Warning System for Rural Banks in Indonesia. Client: The World Bank (WB) Indonesia Office and the Financial Service Authority Republic of Indonesia.
40. [Oct 2017 – Dec 2017] Analysis of Subsidence Rate of Peatland Area in Riau Province – Non-Parametric Approach. Client: Riau Andalan Pulp and Paper (RAPP), APRIL Group.
41. [Oct 2017 – Dec 2017] Analysis of Subsidence Rate of Peatland Area in Riau Province – Multivariate Analysis. Client: Riau Andalan Pulp and Paper (RAPP), APRIL Group.
42. [Apr 2020 – Aug 2020] Multivariate Analysis of Subsidence Rate of Peatland Area in Riau Province, Indonesia. Client: Riau Andalan Pulp and Paper (RAPP), APRIL Group.
43. [Jan 2020 – Jun 2020] Dynamics of Exchange Rate and Its Impact on Growth in Indonesia 1870-2017. Client: Research Assistant to Prof Pierre van der Eng.
44. [Apr 2020 – Jul 2021] ESG Performance and Overinvestment. Client: Research Assistant to Prof Tatsuyoshi Okimoto, funded by Global Pension Investment Fund (GPIF) Japan.