Business Climate and Global Value Chain (BC-GLOVE)

The research group has a wide-ranging research interests, encompassing various issues in business climate and global value chain area of research. The group has particular research interests in (but not limited to) the following topics:

• Micro, small and medium-sized enterprises (MSMEs) and microfinance
• Industrial competitiveness, industrial value chain and supply chain
• Tourism and services sector development
• Investment climate and business environment
• International trade and global production network

In performing research and consultation, the research group looks to combine traditional economic approach with business perspectives to provide a comprehensive and more implementable policy and managerial recommendations. This group also disseminates results of the study and communicate to relevant stakeholders.

The research group started to publish a monthly Trade and Industry Brief since March 2018, a brief report on current issues related to manufacturing sector development, trade balance and commodity prices, export performance and import developments. The publication can be accessed through the following link:

https://www.lpem.org/category/publikasi/policy/perdagangan-dan-industri/

Since January 2020, the research group also supervises ukmindonesia.id (https://www.ukmindonesia.id/), a web platform serving as the center for information and facilitation for MSMEs up-scaling. The platform looks to bring together the MSMEs from various sectors and provinces, related government agencies, communities, investors and off-takers.

 

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Head of Business Climate and Global Value Chains Research Group

Mohamad D. Revindo, Ph.D.

Revindo joined LPEM-FEBUI in 2009 and has been appointed as a head of the research group since 2017. His research Interests include Micro, Small and Medium-sized Enterprises (MSMEs), Tourism, Local Economic Development, Microfinance, Industrial Organization, Industrial Value Chain, Business and Investment Climates, and International Trade. He has an extensive experience in research, survey and consulting projects for various national and international client organizations.

In addition to research, Revindo is a lecturer at the Graduate School of Strategic and Global Studies (SKSG) Universitas Indonesia, a chief editor of Economics and Finance in Indonesia (a scientific journal published by Universitas Indonesia and indexed by Ministry of Research as SINTA-2 category) and editorial board member of Jurnal Ekonomi Indonesia (a journal published by Indonesian Economist Association). Prior to working with Universitas Indonesia, Revindo held teaching assistant position at Lincoln University, New Zealand and worked as a survey coordinator and a quality auditor at PT. Surveyor Indonesia, a state-owned enterprise specializing in survey, inspection and certification services. Revindo also served as Senior Advisor to the Minister of Trade during March-December 2020, particularly on the issues related to international trade, MSMEs up-scaling, and domestic product promotion campaign.

Revindo earned his Ph.D. in Economics from Lincoln University, New Zealand and a recipient of New Zealand-ASEAN Scholar Awards (2013-2017). His Ph.D. thesis is titled ‘Internationalisation of Indonesian Small and Medium-sized Enterprises’. He also holds a M.A. in European Studies from KU Leuven, Belgium (2008), a M.Sc. in Economics from KU Leuven, Belgium (2007) and a B.A. in Economics and Development Studies from University of Indonesia (2000).

Email: revindo@lpem-feui.org/revindo.md@gmail.com

 

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Past and Ongoing Research Projects

• Market Access and Potential Economic Impact of Indonesia- Angola Trade Agreement (Ministry of Foreign Affairs, 2021)
• Impact of COVID-19 Pandemic on MSMEs in Indonesia (UNDP, 2020)
• Market Access and Potential Economic Impact of Indonesia- Mauritius Trade Agreement (Ministry of Foreign Affairs, 2020)
• Impact of the National Economic Recovery Program on MSMEs (Association of State-Owned Banks/Himbara, 2020)
• Pre-feasibility Study of Creative Economy District Development (Ministry of Tourism and Creative Economy, 2020)
• Sector Impact Assessment of Subnational Infrastructure Investment in Indonesia as Part of Municipal Assessment (Project Selection) Tool (The World Bank, 2020)
• Manufacturing Industry Acceleration in Bali and Nusa Tenggara Region (Bank Indonesia Bali, 2020)
• Technological Adoption Readiness for MSMEs’ Up-scaling (Ministry of Communication and Information, 2020)
• Effectiveness of Out-of-Home Media for Creating Positive Image and Public Trust (Ministry of Tourism and Creative Economy, 2020)
• Effectiveness of Digital Posters in the Socialization and Internalization of Institution Policy Program among Employees (Ministry of Tourism and Creative Economy, 2020)
• Consumers Perception Towards Fuel Quality and Price (Indonesian Consumers Protection Foundation/YLKI, 2020)
• Financing Access for Subsistence, Micro and Small Businesses by Utilizing Various Alternative Financial Sources (Bank Indonesia, 2020)
• Study on the Breathable and Non-Breathable Films in Indonesia and some of ASEAN Countries (Mitsubishi Chemical PET Film Indonesia, 2020)
• Import Substitution of Manufacturing Industry’s Raw Materials (Ministry of Industry, 2020)
• Financial Access for MSMEs in Tourism Areas (Coordinating Ministry for Maritime and Investment Affairs, 2020)
• Business Development Potential and Assistantship for Village-Owned Enterprises (BRI Bank, 2019)
• International Airport Connecting Public Transportation: the Case of Soekarno-Hatta Airport (Indonesian Consumers Protection Foundation/YLKI, 2019)
• MSMEs Up-scaling Parameters Formulation (BRI Bank, 2019)
• Public Service Innovation in the Tourism Sector (Ministry of Tourism, 2019)
• Economic, Fiscal, and Foreign Exchange Impact of Subang Special Economic Zone (SSIA, 2019)
• Economic, Fiscal, and Foreign Exchange Impact of Poly-ethylene terephthalate film Industry (Mitsubishi Chemical PET Film Indonesia, 2019)
• Investment Acceleration Challenge of Tourism Special Economic Zone (Ministry of Tourism, 2019)
• Prioritizing and Mainstreaming Tourism in National Economic Policy (Ministry of Tourism, 2019)
• Tourism Activity Impact on Income Distribution and Poverty Alleviation (Ministry of Tourism, 2019)
• Financing Schemes of MSMEs in Tourism Areas (Ministry of Tourism, 2019)
• Redefining MSMEs and Defining Export-Oriented MSMEs (LPEI-Indonesia Eximbank, 2018)
• Economic Impact of the 2018 Jakarta-Palembang Asian Games (Ministry of National Development Planning/Bappenas, 2018)
• Economic, Fiscal, and Foreign Exchange Impact of Automotive Industry: Investment and Operation of Hyundai Motor Company (Ernst & Young, 2018)
• The Roles of Special Economic Zone on Export, Investment, and Manufacturing Development (ERIA, 2018)
• Macroeconomic and Energy Indicators Outlook (Pertamina, 2018)
• Acceleration of Sustainable Development Principles in the Guidelines of State Policy (People’s Consultative Assembly/MPR, 2018)
• Healthy Food Consumption Pattern and Literacy: Case Study from Depok and Surakarta (Indonesian Consumers Protection Foundation/YLKI, 2018)
• Business Network and Information Distribution of Metal Processing Industry in Tegal Regency (JICA, 2017)
• Economic Impact of the Synthetic Yarn Industry (PT Asia Pasific Fibers, 2017)
• Value Chain and Business Network of Transportation and Electricity Industry in 7 Provinces (JICA, 2017)
• Fixed Broadband Consumer Loyalty and Citizenshipness (PT Telkom, 2017)
• Preferences of Public Transportation Modes in Jabodetabek (Indonesian Consumers Protection Foundation/ YLKI, 2017)

 

Deputy Head, Business Climate and Global Value Chain Research Group

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

 

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.