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ASYMMETRIC EFFECT OF CRUDE OIL AND PALM OIL PRICES ON ECONOMIC GROWTH: EVIDENCE FROM INDONESIA

Buletin Ekonomi Moneter dan Perbankan · Vol. 23 No. 2 (2020) · pp. 253–268

DOI
10.21098/bemp.v23i1.1304
ISSN
2460-9196, 1410-8046
Published
2020-09-10
Publisher
Bank Indonesia
Language
eng
License
creativecommons.org/licenses/by-nc/4.0

Abstract

This paper empirically examines the impact of the price of crude oil petrol and palm oil on Indonesia's economic growth. Using quarterly data from 2000 to 2019 and linear, and non-linear autoregressive distributed lag (ARDL) model to cointegration, the study finds 1) A significant non-linear effect of oil prices on country's output. 2) The palm oil price changes have a higher effect on the country's output as compared to petroleum prices. 3) A decline in palm price in the international market leads to a higher adverse effect on the country's economic growth as compared to petroleum prices.

Collaboration network of the authors

22 authors · 49 co-authorship links · 11 across different organisations

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • Bandung Institute of Technology
  • Universitas Airlangga
  • Binus University
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Raditya SukmanaUniversitas Airlangga2
Satria Fadil PersadaBinus University1
Reza Ashari NasutionBandung Institute of Technology1
Michelle FericaBandung Institute of Technology1
Prawira Fajarindra BelgiawanBandung Institute of Technology1
Lidia MayangsariBandung Institute of Technology1
Nila Armelia WindasariBandung Institute of Technology1
Hanifiyah Yuliatul HijriahAffiliation unknown1
Himmatul KholidahAffiliation unknown1
Bani AlkausarAffiliation unknown1
Muhammad Ubaidillah Al MustofaAffiliation unknown1
C T VIDYAAffiliation unknown1
R Eki RahmanAffiliation unknown1
Bayu Arie FiantoAffiliation unknown1
Muhammad MadyanAffiliation unknown1
Luluk AfiqohAffiliation unknown1
Sylva Alif RusmitaAffiliation unknown1
Eko Fajar CahyonoAffiliation unknown1
Afifatun Ni’mahAffiliation unknown1
Aam Slamet RusydianaAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://www.bmeb-bi.org/index.php/BEMP/oai, first harvested 8 Nov 2026, last seen 8 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en-US">ASYMMETRIC EFFECT OF CRUDE OIL AND PALM OIL PRICES ON ECONOMIC GROWTH: EVIDENCE FROM INDONESIA</dc:title>
	<dc:creator>Prabheesh, KP</dc:creator>
	<dc:creator>Laila, Nisful</dc:creator>
	<dc:description xml:lang="en-US">This paper empirically examines the impact of the price of crude oil petrol and palm oil on Indonesia's economic growth. Using quarterly data from 2000 to 2019 and linear, and non-linear autoregressive distributed lag (ARDL) model to cointegration, the study finds 1) A significant non-linear effect of oil prices on country's output. 2) The palm oil price changes have a higher effect on the country's output as compared to petroleum prices. 3) A decline in palm price in the international market leads to a higher adverse effect on the country's economic growth as compared to petroleum prices.</dc:description>
	<dc:publisher xml:lang="en-US">Bank Indonesia</dc:publisher>
	<dc:date>2020-09-10</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:type xml:lang="en-US">Peer-reviewed Article</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://www.bmeb-bi.org/index.php/BEMP/article/view/1304</dc:identifier>
	<dc:identifier>10.21098/bemp.v23i1.1304</dc:identifier>
	<dc:source xml:lang="en-US">Buletin Ekonomi Moneter dan Perbankan; Vol 23 No 2 (2020); 253-268</dc:source>
	<dc:source xml:lang="id-ID">Buletin Ekonomi Moneter dan Perbankan; Vol 23 No 2 (2020); 253-268</dc:source>
	<dc:source>2460-9196</dc:source>
	<dc:source>1410-8046</dc:source>
	<dc:source>10.21098/bemp.v23i2</dc:source>
	<dc:language>eng</dc:language>
	<dc:relation>https://www.bmeb-bi.org/index.php/BEMP/article/view/1304/919</dc:relation>
	<dc:rights xml:lang="en-US">Copyright (c) 2020 Buletin Ekonomi Moneter dan Perbankan</dc:rights>
	<dc:rights xml:lang="en-US">http://creativecommons.org/licenses/by-nc/4.0</dc:rights>
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