Dynamics of Income Inequality, Investment, and Unemployment in Indonesia
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Published:
Aug 26, 2021
Keywords:
Income inequality Indonesia investment per capita income unemployment welfare
Main Article Content
Abstract
This paper examines the effect of per capita income, investment, and unemployment on income inequality in Indonesia from 2011 to 2019. We use both static and dynamic panel data approaches covering 34 provinces in Indonesia. The results support the Kuznets hypothesis, whereby a more significant per capita income growth is associated with more substantial income inequality in a short period; however, this decreases over time (sign change). Furthermore, a larger real per capita income is associated with lower inequality when accompanied by progress in human capital. Alternatively, foreign direct investment (FDI) and infrastructure expenditure positively relate to income inequality, although FDI eventually helps lower inequality. Similarly, increases in domestic private investment can help to reduce income disparity. Meanwhile, unemployment is negatively associated with income inequality, suggesting that better jobs (rather than more jobs per se) are needed to improve income distribution in the country. Although per capita income, investment, and employment have improved substantially and helped Indonesia raise overall income, economic progress does not seem to have been inclusive. We argue that the panel dynamic model helps to capture the persistence effect of income distribution, suggesting a more precise estimation of income inequality issues than static models.
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How to Cite
Muryani, Esquivias, M. A., Sethi, N. ., & Iswanti, H. . (2021). Dynamics of Income Inequality, Investment, and Unemployment in Indonesia. Journal of Population and Social Studies [JPSS], 29(-), 660–678. Retrieved from https://so03.tci-thaijo.org/index.php/jpss/article/view/254809
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Research Articles
References
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• Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-143. https://doi.org/10.1016/S0304-4076(98)00009-8
• Bogliaccini, J. A., & Egan, P. J. W. (2017). Foreign direct investment and inequality in developing countries: Does sector matter? Economics & Politics, 29(3), 209–236. https://doi.org/10.1111/ecpo.12098
• Chongvilaivan, A., & Kim, J. (2016). Individual income inequality and its drivers in Indonesia: A Theil decomposition reassessment. Social Indicators Research, 126, 79–98. https://doi.org/10.1007/s11205-015-0890-0
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• Esquivias, M. A., Sethi, N., Ramandha, M. D., & Jayanti, A. D. (2021). Financial inclusion dynamics in Southeast Asia: An empirical investigation on three countries. Business Strategy & Development, 4(2), 203–215. https://doi.org/10.1002/bsd2.139
• Esquivias, M. A., Sugiharti, L., Jayanti, A. D., Purwono, R., & Sethi, N. (2020). Mobile technologies, financial inclusion, and inclusive growth in East Indonesia. Journal of Telecommunications and the Digital Economy, 8(2), 123–145. https://doi.org/10.18080/jtde.v8n2.253
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• Fernandez, M., Almaazmi, M. M., & Joseph, R. (2020). Foreign direct investment in Indonesia: An analysis from investors perspective. International Journal of Economics and Financial Issues, 10(5), 102–112. https://doi.org/10.32479/ijefi.10330
• Garvy, G. (1954). Functional and size distributions of income and their meaning. The American Economic Review, 44(2), 236–253. https://www.jstor.org/stable/pdf/1818339.pdf
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• Kataoka, M. (2012). Economic growth and interregional resource allocation in Indonesia. Studies in Regional Science, 42(4), 911–920. https://doi.org/10.2457/srs.42.911
• Kataoka, M. (2018). Inequality convergence in inefficiency and interprovincial income inequality in Indonesia for 1990–2010. Asia-Pacific Journal of Regional Science, 2, 297–313. https://doi.org/10.1007/s41685-017-0051-3
• Kaulihowa, T., & Adjasi, C. (2018). FDI and income inequality in Africa. Oxford Development Studies, 46(2), 250–265. https://doi.org/10.1080/13600818.2017.1381233
• Kuncoro, M. (2013). Economic geography of Indonesia: Can MP3EI reduce inter-regional inequality. South East Asia Journal of Contemporary Business, Economics, and Law, 2(2), 17–33. http://seajbel.com/wp-content/uploads/2014/07/Economic-Geography-Of-Indonesia-–-Can-Mp3ei-Reduce-Inter-Regional-Inequality-Mudrajad-Kuncoro.pdf
• Kuncoro, M., & Murbarani, N. (2016). Regional inequality in Indonesia, 1994-2012. The Business & Management Review, 8(1), 38-52. https://cberuk.com/cdn/conference_proceedings/conference_68895.pdf
• Kuznets, S. (1955). Economic growth and income inequality. The American Economic Review, 45(1), 1–28. https://www.jstor.org/stable/1811581
• Lee, H. Y., Kim, J., & Cin, B. C. (2013). Empirical analysis on the determinants of income inequality in Korea. International Journal of Advanced Science and Technology, 53, 95–110. https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.637.8836&rep=rep1&type=pdf
• Lee, J. W., & Wie, D. (2015). Technological change, skill demand, and wage inequality: Evidence from Indonesia. World Development, 67, 238–250. https://doi.org/10.1016/j.worlddev.2014.10.020
• McLaren, J., & Yoo, M. (2017). FDI and inequality in Vietnam: An approach with census data. Journal of Asian Economics, 48, 134–147. https://doi.org/10.1016/j.asieco.2016.11.002
• Mehic, E., Silajdzic, S., & Babic-Hodovic, V. (2013). The impact of FDI on economic growth: Some evidence from Southeast Europe. Emerging Markets Finance and Trade, 49(sup1), 5–20. https://doi.org/10.2753/REE1540-496X4901S101
• Melikhova, O., & Čížek, J. (2014). Kuznets inverted U-curve hypothesis examined on up-to date observations for 145 countries. Prague Economic Papers, 23(3), 388–410. https://doi.org/10.18267/j.pep.490
• Miranti, R., Vidyattama, Y., Hansnata, E., Cassells, R., & Duncan, A. (2013). Trends in poverty and inequality in decentralising Indonesia (No. 148, OECD Social, Employment and Migration Working Papers). OECD Publishing. https://doi.org/10.1787/5k43bvt2dwjk-en
• Moeis, F. R., Dartanto, T., Moeis, J. P., & Ikhsan, M. (2020). A longitudinal study of agriculture households in Indonesia: The effect of land and labor mobility on welfare and poverty dynamics. World Development Perspectives, 20, 100261. https://doi.org/10.1016/j.wdp.2020.100261
• Muryani, N. A., & Esquivias, M. A. (2021). Factors influencing the gender gap in poverty: The Indonesian case. World Review of Entrepreneurship, Management and Sustainable Development, 17(1), 103–119. https://doi.org/10.1504/WREMSD.2021.10034255
• Mushtaq, M., Ahmad, K., Ahmed, S., & Nadeem, M. (2014). Impact of FDI on income distribution in selected SAARC countries. Journal of Applied Environmental and Biological Sciences, 4(7S), 1–10. http://www.textroad.com/pdf/JAEBS/J.%20Appl.%20Environ.%20Biol.%20Sci.,%204(7S)1-10,%202014.pdf
• Purwono, R., Wardana, W. W., Haryanto, T., & Mubin, M. K. (2021). Poverty dynamics in Indonesia: Empirical evidence from three main approaches. World Development Perspectives, 2, 100346. https://doi.org/10.1016/j.wdp.2021.100346
• Rao, D. T., Sethi, N., Dash, D. P., & Bhujabal, P. (2020). Foreign aid, FDI and economic growth in South-East Asia and South Asia. Global Business Review. https://doi.org/10.1177/0972150919890957
• Ridhwan, M. M. (2021). Spatial wage differentials and agglomeration externalities: Evidence from Indonesian microdata. Economic Analysis and Policy, 71, 573–91. https://doi.org/10.1016/j.eap.2021.06.013
• Rubin, A., & Segal, D. (2015). The effects of economic growth on income inequality in the US. Journal of Macroeconomics, 45, 258–273. https://doi.org/10.1016/j.jmacro.2015.05.007
• Serrasqueiro, Z., & Nunes, P. M. (2008). Determinants of capital structure: Comparison of empirical evidence from the use of different estimators. International Journal of Applied Economics, 5(1), 14–29. https://www2.southeastern.edu/orgs/ijae/index_files/IJAE%20MARCH%202008%20NUNES%20IJAE_ARTICLE_FINAL%20VERSION%206-1-08.pdf
• Siburian, M. E. (2020). Fiscal decentralization and regional income inequality: Evidence from Indonesia. Applied Economics Letters, 27(17), 1383–1386. https://doi.org/10.1080/13504851.2019.1683139
• Simonsohn, U. (2018). Two lines: A valid alternative to the invalid testing of U-shaped relationships with quadratic regressions. Advances in Methods and Practices in Psychological Science, 1, 538-555. https://doi.org/10.1177/2515245918805755
• Sueyoshi, T., Qu, J., Li, A., & Liu, X. (2021). A new approach for evaluating technology inequality and diffusion barriers: the concept of efficiency Gini coefficient and its application in Chinese provinces. Energy, 235, 121256. https://doi.org/10.1016/j.energy.2021.121256
• Sylwester, K. (2005). Foreign direct investment, growth and income inequality in less developed countries. International Review of Applied Economics, 19(3), 289–300. https://doi.org/10.1080/02692170500119748
• Taresh A, A., Sari, D. W., & Purwono, R. (2021). Analysis of the relationship between income inequality and social variables: Evidence from Indonesia. Economics and Sociology, 14(1), 103-119. https://doi.org/10.14254/2071-789X.2021/14-1/7
• Tomul, E. (2009). Measuring regional inequality of education in Turkey: An evaluation by Gini index. Procedia - Social and Behavioral Sciences, 1(1), 949–952. https://doi.org/10.1016/j.sbspro.2009.01.168
• Ucal, M., Haug, A. A., & Bilgin, M. H. (2016). Income inequality and FDI: Evidence with Turkish data. Applied Economics, 48(11), 1030–1045. https://doi.org/10.1080/00036846.2015.1093081
• van Leeuwen, B., & Földvári, P. (2016). The development of inequality and poverty in Indonesia, 1932–2008. Bulletin of Indonesian Economic Studies, 52(3), 379–402. https://doi.org/10.1080/00074918.2016.1184226
• Wang, W., & Lee, L. (2018). GMM estimation of spatial panel data models with common factors and a general space-time filter. Spatial Economic Analysis, 13(2), 247–269. https://doi.org/10.1080/17421772.2017.1353128
• Wicaksono, E., Amir, H., & Nugroho, A. (2017). The sources of income inequality in Indonesia: A regression-based inequality decomposition. No. 667, ADBI Working Paper. https://www.adb.org/sites/default/files/publication/229411/adbi-wp667.pdf
• Yusuf, A. A., & Sumner, A. (2015). Growth, poverty, and inequality under Jokowi. Bulletin of Indonesian Economic Studies, 51(3), 323–348. https://doi.org/10.1080/00074918.2015.1110685
• Aginta, H., Gunawan, A. B., & Mendez. C. (2021). Regional income disparities and convergence clubs in Indonesia: New district-level evidence. Journal of the Asia Pacific Economy, 1–33. https://doi.org/10.1080/13547860.2020.1868107
• Akita, T., Kurniawan, P. A., & Miyata, S. (2011). Structural changes and regional income inequality in Indonesia: A bidimensional decomposition analysis. Asian Economic Journal, 25(1), 55–77. https://doi.org/10.1111/j.1467-8381.2011.02053.x
• Arellano, M., & Bond, S. (1991). Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. The Review of Economic Studies, 58(2), 277-297. https://doi.org/10.2307/2297968
• Badan Pusat Statistik. (2020). Statistik Indonesia 2020 [Statistical Yearbook of Indonesia 2020]. https://www.bps.go.id/publication/2020/04/29/e9011b3155d45d70823c141f/statistik-indonesia-2020.html
• Bhandari, B. (2007). Effect of inward foreign direct investment on income inequality in transition countries. Journal of Economic Integration, 22(4), 888–928. https://doi.org/10.11130/jei.2007.22.4.888
• Blundell, R., & Bond, S. (1998). Initial conditions and moment restrictions in dynamic panel data models. Journal of Econometrics, 87(1), 115-143. https://doi.org/10.1016/S0304-4076(98)00009-8
• Bogliaccini, J. A., & Egan, P. J. W. (2017). Foreign direct investment and inequality in developing countries: Does sector matter? Economics & Politics, 29(3), 209–236. https://doi.org/10.1111/ecpo.12098
• Chongvilaivan, A., & Kim, J. (2016). Individual income inequality and its drivers in Indonesia: A Theil decomposition reassessment. Social Indicators Research, 126, 79–98. https://doi.org/10.1007/s11205-015-0890-0
• Das, A., & Sethi, N. (2020). Effect of foreign direct investment, remittances, and foreign aid on economic growth: Evidence from two emerging South Asian economies. Journal of Public Affairs, 20(3), e2043. https://doi.org/10.1002/pa.2043
• Dartanto, T., Moeis, F. R., & Otsubo, S. (2020). Intragenerational economic mobility in Indonesia: A transition from poverty to the middle class in 1993–2014. Bulletin of Indonesian Economic Studies, 56(2), 193–224. https://doi.org/10.1080/00074918.2019.1657795
• De Silva, I., & Sumarto, S. (2015). Dynamics of growth, poverty and human capital: Evidence from Indonesian sub-national data. Journal of Economic Development, 40(2), 1-33. http://www.jed.or.kr/full-text/40-2/1.pdf
• Erlando, A., Riyanto, F. D., & Masakazu, S. (2020). Financial inclusion, economic growth, and poverty alleviation: Evidence from eastern Indonesia. Heliyon, 6(10), e05235. https://doi.org/10.1016/j.heliyon.2020.e05235
• Esquivias, M. A & Harianto, S. K. (2020). Does competition and foreign investment spur industrial efficiency? Firm-level evidence from Indonesia. Heliyon, 6(8), e04494. https://doi.org/10.1016/j.heliyon.2020.e04494
• Esquivias, M. A., Sethi, N., Ramandha, M. D., & Jayanti, A. D. (2021). Financial inclusion dynamics in Southeast Asia: An empirical investigation on three countries. Business Strategy & Development, 4(2), 203–215. https://doi.org/10.1002/bsd2.139
• Esquivias, M. A., Sugiharti, L., Jayanti, A. D., Purwono, R., & Sethi, N. (2020). Mobile technologies, financial inclusion, and inclusive growth in East Indonesia. Journal of Telecommunications and the Digital Economy, 8(2), 123–145. https://doi.org/10.18080/jtde.v8n2.253
• Fazaalloh, A. M. (2019). Is foreign direct investment helpful to reduce income inequality in Indonesia? Economics & Sociology, 12(3), 25-36. https://doi.org/10.14254/2071-789X.2019/12-3/2
• Fernandez, M., Almaazmi, M. M., & Joseph, R. (2020). Foreign direct investment in Indonesia: An analysis from investors perspective. International Journal of Economics and Financial Issues, 10(5), 102–112. https://doi.org/10.32479/ijefi.10330
• Garvy, G. (1954). Functional and size distributions of income and their meaning. The American Economic Review, 44(2), 236–253. https://www.jstor.org/stable/pdf/1818339.pdf
• Hayakawa, K. (2019). Alternative over-identifying restriction test in the GMM estimation of panel data models. Econometrics and Statistics, 10, 71–95. https://doi.org/10.1016/j.ecosta.2018.06.002
• Kataoka, M. (2012). Economic growth and interregional resource allocation in Indonesia. Studies in Regional Science, 42(4), 911–920. https://doi.org/10.2457/srs.42.911
• Kataoka, M. (2018). Inequality convergence in inefficiency and interprovincial income inequality in Indonesia for 1990–2010. Asia-Pacific Journal of Regional Science, 2, 297–313. https://doi.org/10.1007/s41685-017-0051-3
• Kaulihowa, T., & Adjasi, C. (2018). FDI and income inequality in Africa. Oxford Development Studies, 46(2), 250–265. https://doi.org/10.1080/13600818.2017.1381233
• Kuncoro, M. (2013). Economic geography of Indonesia: Can MP3EI reduce inter-regional inequality. South East Asia Journal of Contemporary Business, Economics, and Law, 2(2), 17–33. http://seajbel.com/wp-content/uploads/2014/07/Economic-Geography-Of-Indonesia-–-Can-Mp3ei-Reduce-Inter-Regional-Inequality-Mudrajad-Kuncoro.pdf
• Kuncoro, M., & Murbarani, N. (2016). Regional inequality in Indonesia, 1994-2012. The Business & Management Review, 8(1), 38-52. https://cberuk.com/cdn/conference_proceedings/conference_68895.pdf
• Kuznets, S. (1955). Economic growth and income inequality. The American Economic Review, 45(1), 1–28. https://www.jstor.org/stable/1811581
• Lee, H. Y., Kim, J., & Cin, B. C. (2013). Empirical analysis on the determinants of income inequality in Korea. International Journal of Advanced Science and Technology, 53, 95–110. https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.637.8836&rep=rep1&type=pdf
• Lee, J. W., & Wie, D. (2015). Technological change, skill demand, and wage inequality: Evidence from Indonesia. World Development, 67, 238–250. https://doi.org/10.1016/j.worlddev.2014.10.020
• McLaren, J., & Yoo, M. (2017). FDI and inequality in Vietnam: An approach with census data. Journal of Asian Economics, 48, 134–147. https://doi.org/10.1016/j.asieco.2016.11.002
• Mehic, E., Silajdzic, S., & Babic-Hodovic, V. (2013). The impact of FDI on economic growth: Some evidence from Southeast Europe. Emerging Markets Finance and Trade, 49(sup1), 5–20. https://doi.org/10.2753/REE1540-496X4901S101
• Melikhova, O., & Čížek, J. (2014). Kuznets inverted U-curve hypothesis examined on up-to date observations for 145 countries. Prague Economic Papers, 23(3), 388–410. https://doi.org/10.18267/j.pep.490
• Miranti, R., Vidyattama, Y., Hansnata, E., Cassells, R., & Duncan, A. (2013). Trends in poverty and inequality in decentralising Indonesia (No. 148, OECD Social, Employment and Migration Working Papers). OECD Publishing. https://doi.org/10.1787/5k43bvt2dwjk-en
• Moeis, F. R., Dartanto, T., Moeis, J. P., & Ikhsan, M. (2020). A longitudinal study of agriculture households in Indonesia: The effect of land and labor mobility on welfare and poverty dynamics. World Development Perspectives, 20, 100261. https://doi.org/10.1016/j.wdp.2020.100261
• Muryani, N. A., & Esquivias, M. A. (2021). Factors influencing the gender gap in poverty: The Indonesian case. World Review of Entrepreneurship, Management and Sustainable Development, 17(1), 103–119. https://doi.org/10.1504/WREMSD.2021.10034255
• Mushtaq, M., Ahmad, K., Ahmed, S., & Nadeem, M. (2014). Impact of FDI on income distribution in selected SAARC countries. Journal of Applied Environmental and Biological Sciences, 4(7S), 1–10. http://www.textroad.com/pdf/JAEBS/J.%20Appl.%20Environ.%20Biol.%20Sci.,%204(7S)1-10,%202014.pdf
• Purwono, R., Wardana, W. W., Haryanto, T., & Mubin, M. K. (2021). Poverty dynamics in Indonesia: Empirical evidence from three main approaches. World Development Perspectives, 2, 100346. https://doi.org/10.1016/j.wdp.2021.100346
• Rao, D. T., Sethi, N., Dash, D. P., & Bhujabal, P. (2020). Foreign aid, FDI and economic growth in South-East Asia and South Asia. Global Business Review. https://doi.org/10.1177/0972150919890957
• Ridhwan, M. M. (2021). Spatial wage differentials and agglomeration externalities: Evidence from Indonesian microdata. Economic Analysis and Policy, 71, 573–91. https://doi.org/10.1016/j.eap.2021.06.013
• Rubin, A., & Segal, D. (2015). The effects of economic growth on income inequality in the US. Journal of Macroeconomics, 45, 258–273. https://doi.org/10.1016/j.jmacro.2015.05.007
• Serrasqueiro, Z., & Nunes, P. M. (2008). Determinants of capital structure: Comparison of empirical evidence from the use of different estimators. International Journal of Applied Economics, 5(1), 14–29. https://www2.southeastern.edu/orgs/ijae/index_files/IJAE%20MARCH%202008%20NUNES%20IJAE_ARTICLE_FINAL%20VERSION%206-1-08.pdf
• Siburian, M. E. (2020). Fiscal decentralization and regional income inequality: Evidence from Indonesia. Applied Economics Letters, 27(17), 1383–1386. https://doi.org/10.1080/13504851.2019.1683139
• Simonsohn, U. (2018). Two lines: A valid alternative to the invalid testing of U-shaped relationships with quadratic regressions. Advances in Methods and Practices in Psychological Science, 1, 538-555. https://doi.org/10.1177/2515245918805755
• Sueyoshi, T., Qu, J., Li, A., & Liu, X. (2021). A new approach for evaluating technology inequality and diffusion barriers: the concept of efficiency Gini coefficient and its application in Chinese provinces. Energy, 235, 121256. https://doi.org/10.1016/j.energy.2021.121256
• Sylwester, K. (2005). Foreign direct investment, growth and income inequality in less developed countries. International Review of Applied Economics, 19(3), 289–300. https://doi.org/10.1080/02692170500119748
• Taresh A, A., Sari, D. W., & Purwono, R. (2021). Analysis of the relationship between income inequality and social variables: Evidence from Indonesia. Economics and Sociology, 14(1), 103-119. https://doi.org/10.14254/2071-789X.2021/14-1/7
• Tomul, E. (2009). Measuring regional inequality of education in Turkey: An evaluation by Gini index. Procedia - Social and Behavioral Sciences, 1(1), 949–952. https://doi.org/10.1016/j.sbspro.2009.01.168
• Ucal, M., Haug, A. A., & Bilgin, M. H. (2016). Income inequality and FDI: Evidence with Turkish data. Applied Economics, 48(11), 1030–1045. https://doi.org/10.1080/00036846.2015.1093081
• van Leeuwen, B., & Földvári, P. (2016). The development of inequality and poverty in Indonesia, 1932–2008. Bulletin of Indonesian Economic Studies, 52(3), 379–402. https://doi.org/10.1080/00074918.2016.1184226
• Wang, W., & Lee, L. (2018). GMM estimation of spatial panel data models with common factors and a general space-time filter. Spatial Economic Analysis, 13(2), 247–269. https://doi.org/10.1080/17421772.2017.1353128
• Wicaksono, E., Amir, H., & Nugroho, A. (2017). The sources of income inequality in Indonesia: A regression-based inequality decomposition. No. 667, ADBI Working Paper. https://www.adb.org/sites/default/files/publication/229411/adbi-wp667.pdf
• Yusuf, A. A., & Sumner, A. (2015). Growth, poverty, and inequality under Jokowi. Bulletin of Indonesian Economic Studies, 51(3), 323–348. https://doi.org/10.1080/00074918.2015.1110685