Tinjauan

Kerjasama Ekonomi

LPEM FEB UI Kiki Verico, Ph.D.

the LPEM FEB University of Indonesia

KPAT 2
10 February 2020
 01. Globalization: Where are we now?

02. RI’s Condition

CONTENTS 1.
03. Network is Natural

04. Involvement is a Must

05. Involvement Strategy

Involvement Strategy
5.0
https://forum.diplomacy.edu/course/economic-diplomacy (online course)

Economic diplomacy not only promotes the state’s prosperity but also, as occasion demands and opportunity
permits…... At home, economic ministries, trade and investment promotion bodies, chambers of commerce, and
of course foreign ministries, are all participants in economic work. Current trends include increasing collaboration
between state and non-official agencies, and increased importance given to WTO issues, the negotiation of free
trade and preferential trade agreements, and accords covering investments, double taxation avoidance, financial
services and the like…..The main focus is on promotion, to attract foreign business, investments, technology and
tourists. Economic diplomacy connects closely with political, public and other segments of diplomatic work.
p.93-94
“V-Model: Trade & Investment Relations” reference (citation
purpose):

Verico, K. (2020), The Weighted Composite Index Analysis of

Indonesia’s Bilateral Economic Agreements, Journal of Asia-
Pacific Studies (Waseda University), Forthcoming

ベリコ,キキ(2020), 加重コンポジット・インデックスにも
とづく インドネシアの二国間経済協定の考察 , アジア太
平洋研究(前田大学), 今後
http://www.aessweb.com/html/3980
 Application of RIA on Indonesia’s In Force BTAs: Firm’s Perspective
Indonesia - Japan Economic Partnership (IJEPA)
Market
Legal
Benefit Cost Competitiveness Mechanism Total
Basis
Achievement
Export 10 24 19 19 19 53
Factor:
Import 13 19 18 17 17 48
GDP per Capita
FDI Inflows 14 23 19 18 21 57 (USD)
Job
Verico, K (2018).
Vacancy 13 20 17 15 20 51 Modification of
Regulatory Impact
Total 50 86 73 69 77
Assessment (RIA)
Indonesia - Pakistan Preferential Trade Agreement (IPPTA) Method on
Indonesia’s Trade,
Market
Legal Investment and
Benefit Cost Competitiveness Mechanism Total Industrial Incentive Verico, K. &
Basis Analysis, Economics Natanael, Y., (2018).
Achievement Let’s Talk about the
and Finance in
FTA: the Five ASEAN
Export 13 21 18 20 17 53 Indonesia, 64 (1), Members
Import 11 16 16 17 16 44 43-58 Highlighting
Indonesia July 13rd,
FDI Inflows 10 17 17 18 17 45 LPEM FEB UI
Job Working Paper No
23
Vacancy 11 15 15 16 19 46
Total 45 69 66 71 69
Source: LPEM Research with MoT, 2015
 𝐼𝑛𝑡𝑟𝑎𝑇𝑡𝑛 𝑡𝑜 𝑤 = 𝛼0 + 𝛼1 . 𝐺𝐷𝑃𝑛,𝑡 + 𝛼2. . 𝐺𝐷𝑃𝑝𝑝𝑝𝑛 ,𝑡 + 𝛼3. %𝐺𝐷𝑃𝑔𝑟𝑜𝑤𝑡ℎ𝑛,𝑡 + 𝛼4 . %𝑈𝑝𝑒𝑟𝑙𝑎𝑏𝑜𝑟𝑛,𝑡
+ 𝛼5 . %𝜋𝑛,𝑡 + 𝛼6 . 𝐺𝐷𝑃𝐶𝑎𝑝𝑛,𝑡 + 𝛼7 . %𝑃𝐷𝑝𝑒𝑟𝐺𝐷𝑃𝑛, 𝑡/𝐺𝐷𝑃𝑛,𝑡
+ 𝛼8 . %𝐴𝐵𝐷𝑝𝑒𝑟𝐺𝐷𝑃𝑛𝑡/𝐺𝐷𝑃𝑛,𝑡 + 𝛼9 . %𝐹𝐷𝐼𝑝𝑒𝑟𝐺𝐷𝑃 𝑛𝑜𝑓𝑛,𝑡 + 𝛼10 . 𝐺𝐷𝑃𝑝𝑟𝑖𝑚𝑎𝑟𝑦𝑛 ,𝑡

+ 𝛼11 . %𝐸𝑀𝑃𝑝𝑒𝑟𝐿𝑎𝑏𝑜𝑟𝑎𝑔𝑟𝑖𝑐𝑢𝑙𝑡𝑢𝑟𝑒𝑛 ,𝑡 + 𝛼12 . %𝐺𝐷𝑃𝑝𝑒𝑟𝐺𝐷𝑃𝑚𝑎𝑛𝑢𝑓𝑛 ,𝑡

𝑛
𝑅𝑁𝐷 𝑛,𝑡
𝐼𝑁𝐴,𝑗
𝐶𝐼𝑡 =
𝐼𝑁𝐴,𝑗
෍ 𝜃𝑘 𝑀𝑘 + 𝛼13 . %𝐻𝑖𝑔ℎ𝑇𝑒𝑐ℎ𝑝𝑒𝑥𝑝𝑚𝑎𝑛𝑢𝑓𝑛 ,𝑡 + 𝛼14 . %𝑇𝑆𝑒𝑟𝑣𝑖𝑐𝑒𝑠𝑝𝑒𝑟𝐺𝐷𝑃𝑛,𝑡 + 𝛼15 . 𝐺𝐷𝑃𝑛,𝑡
𝑘=1
𝐺𝐷𝑃𝑝𝑝𝑝𝑗𝑡
𝑗 ,𝑖𝑛𝑎 𝐺𝐷𝑃𝑗𝑡 𝐺𝐷𝑃𝐻𝐵𝑗𝑡 𝑋5𝑡 𝐺𝐷𝑃 𝑔𝑟𝑜𝑤𝑡ℎ𝑗𝑡 𝑋5𝑡 𝑢𝑖𝑛𝑎𝑡
𝐶𝐼𝑡 = 𝛼1 . + 𝛼2. . + 𝛼3. + 𝛼4 .
𝐺𝐷𝑃𝐼𝑁𝐴𝑡 𝐺𝐷𝑃𝑝𝑝𝑝𝑖𝑛𝑎𝑡 𝑋5𝑡 𝐺𝐷𝑃 𝑔𝑟𝑜𝑤𝑡ℎ𝑖𝑛𝑎𝑡 𝑋5𝑡 𝑢𝑗𝑡
𝐺𝐷𝑃𝐻𝐵𝑖𝑛𝑎𝑡
𝑋5𝑡 𝐺𝐷𝑃 𝑔𝑟𝑜𝑤𝑡ℎ𝑗𝑡
𝜋𝑗𝑡 𝐺𝐷𝑃𝐶𝑎𝑝𝑗𝑡 𝑃𝐷/𝐺𝐷𝑃𝑖𝑛𝑎𝑡
+ 𝛼5 . + 𝛼6 . + 𝛼7 .
𝑋5𝑡 𝐺𝐷𝑃 𝑔𝑟𝑜𝑤𝑡ℎ𝑖𝑛𝑎𝑡 𝐺𝐷𝑃𝐶𝑎𝑝𝑖𝑛𝑎𝑡 𝑃𝐷/𝐺𝐷𝑃𝑗𝑡
𝜋𝑖𝑛𝑎𝑡
𝐺𝐷𝑃𝑝𝑟𝑖𝑚𝑎𝑟𝑦𝑗𝑡
𝐴𝐵𝐷/𝐺𝐷𝑃𝑖𝑛 𝑎𝑡 𝐹𝐷𝐼 𝑛𝑜𝑓𝑗𝑡 𝐸𝑚𝑝𝑝𝑟𝑖𝑚𝑎𝑟𝑦𝑗𝑡
+ 𝛼8 . + 𝛼9 . + 𝛼10 .
𝐴𝐵𝐷/𝐺𝐷𝑃𝑗𝑡 𝐹𝐷𝐼 𝑛𝑜𝑓𝑖𝑛𝑎𝑡 𝐺𝐷𝑃𝑝𝑟𝑖𝑚𝑎𝑟𝑦𝑖𝑛𝑎𝑡
𝐸𝑚𝑝𝑝𝑟𝑖𝑚𝑎𝑟𝑦𝑖𝑛𝑎𝑡
Source: Verico, K., Journal of Asia –
𝐺𝐷𝑃𝑚𝑎𝑛𝑢𝑓𝑗𝑡
Pacific Studies, (38), Special Edition on 𝐺𝐷𝑃𝑗𝑡 %𝐻𝑖𝑔ℎ𝑇𝑒𝑐ℎ𝑒𝑥𝑝𝑚𝑎𝑛𝑢𝑓𝑗𝑡
Professor Urata’s Retirement, 2020 + 𝛼11 . + 𝛼12 .
𝐺𝐷𝑃𝑚𝑎𝑛𝑢𝑓𝑖𝑛𝑎𝑡 %𝐻𝑖𝑔ℎ𝑇𝑒𝑐ℎ𝑒𝑥𝑝𝑚𝑎𝑛𝑢𝑓𝑖𝑛𝑎𝑡
𝐺𝐷𝑃𝑖𝑛𝑎𝑡
𝑅𝑁𝐷 𝑗𝑡
%𝑇𝑖𝑆𝑒𝑟𝑣𝑖𝑐𝑒𝑠𝐺𝐷𝑃𝑗𝑡 𝐺𝐷𝑃𝑗𝑡
+ 𝛼13 . + 𝛼14 .
%𝑇𝑖𝑆𝑒𝑟𝑣𝑖𝑐𝑒𝑠𝐺𝐷𝑃𝑗𝑡 𝑅𝑁𝐷 𝑖𝑛𝑎𝑡
𝑖𝑛𝑎𝑡 𝐺𝐷𝑃𝑖𝑛𝑎𝑡
 intrax Coef. Std. Err. z P>|z| [95% Conf. Interval] intrax Coef. Std. Err. z P>|z| [95% Conf. Interval]

GDPX .0000508 .0000485 1.05 0.294 -.0000442 .0001459 GDPX .0000508 .0000465 1.09 0.274 -.0000403 .000142
GDPGRX -.000068 .0000777 -0.88 0.381 -.0002203 .0000842 GDPGRX -.000068 .0000745 -0.91 0.361 -.000214 .0000779
INFX -.0001537 .0000712 -2.16 0.031 -.0002933 -.0000141 INFX -.0001537 .0000683 -2.25 0.024 -.0002876 -.0000198
GDPP3 3.96e-15 2.33e-15 1.70 0.090 -6.13e-16 8.54e-15 GDPP3 3.96e-15 2.24e-15 1.77 0.077 -4.25e-16 8.35e-15
UNEMP .0023931 .0022694 1.05 0.292 -.0020549 .0068411 UNEMP .0023931 .002176 1.10 0.271 -.0018717 .006658
GDPCAP 1.83e-06 6.17e-07 2.97 0.003 6.25e-07 3.05e-06 GDPCAP 1.83e-06 5.92e-07 3.10 0.002 6.75e-07 3.00e-06
PDEBT .0001478 .0001738 0.85 0.395 -.0001929 .0004886 PDEBT .0001478 .0001667 0.89 0.375 -.0001789 .0004745
ABD .0047386 .0010758 4.40 0.000 .0026301 .006847 ABD .0047386 .0010315 4.59 0.000 .002717 .0067602
FDI -.0007004 .0018113 -0.39 0.699 -.0042505 .0028498 FDI -.0007004 .0017367 -0.40 0.687 -.0041043 .0027036
AGRI .0018295 .001828 1.00 0.317 -.0017534 .0054124 AGRI .0018295 .0017528 1.04 0.297 -.0016059 .0052649
EMPAGRI .001823 .0012569 1.45 0.147 -.0006406 .0042865 EMPAGRI .001823 .0012052 1.51 0.130 -.0005392 .0041851
MANUF -.0017059 .0017614 -0.97 0.333 -.0051581 .0017463 MANUF -.0017059 .0016888 -1.01 0.312 -.0050159 .0016042
HIGHTECH -.0008501 .0008843 -0.96 0.336 -.0025833 .0008832 HIGHTECH -.0008501 .0008479 -1.00 0.316 -.0025119 .0008118
TRADESERV .0001762 .0013165 0.13 0.894 -.0024041 .0027566 TRADESERV .0001762 .0012623 0.14 0.889 -.0022979 .0026504
RND -.0180434 .012906 -1.40 0.162 -.0433387 .0072519 RND -.0180434 .0123747 -1.46 0.145 -.0422973 .0062105

country_x country_x
Chile -.0036022 .0256077 -0.14 0.888 -.0537924 .0465879 Chile -.0036022 .0245534 -0.15 0.883 -.0517261 .0445216
China -.0267048 .0787472 -0.34 0.735 -.1810464 .1276368 China -.0267048 .0755051 -0.35 0.724 -.1746921 .1212825
Fiji -.0829885 .0655899 -1.27 0.206 -.2115423 .0455653 Fiji -.0829885 .0628895 -1.32 0.187 -.2062497 .0402727
India -.104599 .0588082 -1.78 0.075 -.219861 .010663 India -.104599 .0563871 -1.86 0.064 -.2151157 .0059177
Indonesia -.0761684 .0495763 -1.54 0.124 -.1733362 .0209994 Indonesia -.0761684 .0475353 -1.60 0.109 -.1693358 .016999
Japan .0039247 .0401755 0.10 0.922 -.0748178 .0826672 Japan .0039247 .0385215 0.10 0.919 -.071576 .0794253
New Zealand .0104631 .0209238 0.50 0.617 -.0305468 .051473 New Zealand .0104631 .0200624 0.52 0.602 -.0288584 .0497846
Pakistan -.2759835 .0449534 -6.14 0.000 -.3640904 -.1878765 Pakistan -.2759835 .0431026 -6.40 0.000 -.3604631 -.1915039
South Korea .0987589 .032161 3.07 0.002 .0357246 .1617933 South Korea .0987589 .0308369 3.20 0.001 .0383197 .1591982
 log_intrax Coef. Std. Err. z P>|z| [95% Conf. Interval]

log_gdpx .0336279 .0063356 5.31 0.000 .0212103 .0460454

GDPGRX -.0001628 .0001075 -1.51 0.130 -.0003735 .0000479
ABDX .0002394 .000129 1.86 0.063 -.0000134 .0004923
log_gdpp3x -.0260367 .0243245 -1.07 0.284 -.0737118 .0216383
log_unem -.004866 .0126604 -0.38 0.701 -.0296799 .0199478
inflation -.0010095 .000643 -1.57 0.116 -.0022698 .0002507
log_gdppercap -.0200767 .0263367 -0.76 0.446 -.0716957 .0315424
pdebtx .0003029 .000187 1.62 0.105 -.0000636 .0006693
fdix -.0001465 .0001787 -0.82 0.412 -.0004967 .0002037
AGRIVAX -.0058643 .0023107 -2.54 0.011 -.0103931 -.0013355
AGRIEMPL -.0012227 .0017714 -0.69 0.490 -.0046946 .0022492
MANUFVA -.0085861 .0021631 -3.97 0.000 -.0128256 -.0043466
HTECH .0016044 .0011316 1.42 0.156 -.0006136 .0038223
TRSER -.0005094 .0023011 -0.22 0.825 -.0050194 .0040006
RNDX .0278314 .0142076 1.96 0.050 -.0000149 .0556777

country_x
Chile .103144 .0294303 3.50 0.000 .0454618 .1608263
China .1844322 .1468136 1.26 0.209 -.1033171 .4721816
India .1709689 .1437864 1.19 0.234 -.1108472 .4527851
Indonesia .2543893 .1112674 2.29 0.022 .0363093 .4724693
Japan .0086542 .0685965 0.13 0.900 -.1257925 .143101
New Zealand .0556416 .0517659 1.07 0.282 -.0458176 .1571009
Pakistan -.0048062 .0976998 -0.05 0.961 -.1962943 .186682
South Korea .0964595 .0520789 1.85 0.064 -.0056132 .1985323

_cons .7766011 .5332824 1.46 0.145 -.2686131 1.821815

 Comparison with
Indonesia New South
(Decomposition) Chile Australia Zealand Pakistan India China Korea Japan
Economic Size 0.3 1.30 0.20 0.30 2.61 12.05 1.51 4.80
Purchasing Power 1.0 0.56 0.60 2.24 2.48 1.19 0.81 0.71
Economic
Performance 0.9 0.97 1.29 1.96 2.91 2.78 1.18 0.50 Power; Performance;
Labor Absorption 0.6 0.74 0.83 1.22 1.60 1.06 1.21 1.27 Level; Discipline;
Economic
Productivity 0.4 2.69 1.07 0.90 1.64 3.52 1.53 1.46
Agriculture;
Economic Level 8.0 27.97 22.32 0.80 1.03 4.59 15.46 19.98 Manufacture; RnD
Fiscal Sustainability 1.3 0.57 1.41 0.42 0.64 0.66 0.78 0.16
Fiscal Discipline 1.8 2.64 (1.20) * 0.87 1.42 1.43 2.51 1.12
Investment (1.41)
Outflows Capacity 8.6 1.68 ** 0.08 7.47 4.13 10.26 17.16
The Role of
Agriculture 1.9 5.00 3.86 2.55 1.64 2.21 1.88 1.55
The Role of
Manufacture 1.0 0.57 1.13 1.19 1.48 2.91 2.74 2.09
High-Technology
Capability 1.1 2.35 1.58 0.39 1.29 4.38 2.61 2.54
Trade in Services
Capacity 1.5 1.78 2.55 0.94 1.96 0.98 2.42 1.38
R&D Role 8.7 45.53 30.16 5.81 3.37 49.75 100 74.30
Total 37.1 94 64 20 32 92 145 129
FDI Inflows 43% 50% 50% 36% 64% 57% 64% 64%
FDI Outflows 29% 21% 21% 36% 7% 14% 7% 7%
Source: Verico, K
Forthcoming, 2019 Trade 29% 29% 29% 29% 29% 29% 29% 29%
Principal Component Analysis
Chile Australia New Zealand Pakistan India China South Korea Japan
ECONOMIC
SIZE 0.06 0.29 0.04 0.07 0.58 2.66 0.33 1.06
PURCHASING
POWER 0.04 0.0 0.0 0.1 0.1 0.0 0.0 0.0
ECONOMIC
PERFORMANCE 0.1 0.1 0.1 0.1 0.2 0.2 0.1 0.0
LABOR
ABSORBTION 0.04 0.05 0.1 0.1 0.1 0.1 0.1 0.1
ECONOMIC
PRODUCTIVITY 0.03 0.2 0.1 0.1 0.1 0.2 0.1 0.1
ECONOMIC
LEVEL 0.2 0.8 0.7 0.0 0.0 0.1 0.5 0.6
FISCAL
SUSTAINABILITY 0.1 0.0 0.1 0.0 0.0 0.0 0.0 0.0
FISCAL
DISCIPLINE 0.1 0.1 (0.1) 0.0 0.1 0.1 0.1 0.0
EXTERNAL
CAPACITY 0.4 0.1 (0.1) 0.0 0.4 0.2 0.5 0.9
THE ROLE
AGRICULTURE 0.1 0.1 0.1 0.1 0.0 0.1 0.1 0.0
THE ROLE
MANUFACTURE 0.02 0.01 0.02 0.02 0.02 0.05 0.04 0.03
HIGH TECH
CAPABILITY 0.03 0.06 0.04 0.01 0.04 0.12 0.07 0.07
TRADE IN SERVICE
COMPETITIVENESS 0.04 0.04 0.06 0.02 0.05 0.02 0.06 0.03

RND 0.1 0.51 0.34 0.07 0.04 0.56 1.13 0.84

Overall
1.29 2.45 1.49 0.73 1.80 4.47 3.12 3.84
Recent Running Model: USA &
Brazil
Random-effects GLS regression Number of obs = 341
Group variable: country_x Number of groups = 11

R-sq: Obs per group:

within = 0.2290 min = 31
between = 1.0000 avg = 31.0
overall = 0.5804 max = 31

Wald chi2(25) = .
corr(u_i, X) = 0 (assumed) Prob > chi2 = .

intrax Coef. Std. Err. z P>|z| [95% Conf. Interval]

gdpx .0000749 .0000414 1.81 0.070 -6.16e-06 .000156

gdpgrx -1.90e-06 .0000645 -0.03 0.977 -.0001283 .0001245
inflation -.000095 .0000637 -1.49 0.136 -.0002199 .0000298
gdpp3 -5.04e-15 1.56e-15 -3.22 0.001 -8.10e-15 -1.97e-15
unemp .0042734 .0018977 2.25 0.024 .0005539 .0079929
gdpcap 5.76e-07 5.31e-07 1.09 0.278 -4.65e-07 1.62e-06
pd .0003507 .0001748 2.01 0.045 8.10e-06 .0006933
abd .0056064 .0010895 5.15 0.000 .0034709 .0077419
fdio -.0025696 .0020097 -1.28 0.201 -.0065087 .0013694
agrival .0001875 .0019125 0.10 0.922 -.0035609 .0039358
agriemp -.0015611 .0009898 -1.58 0.115 -.003501 .0003788
manufval -.0050351 .0011859 -4.25 0.000 -.0073595 -.0027108
hightech -.0006154 .0008433 -0.73 0.466 -.0022682 .0010373
tradeserv .0023017 .0024465 0.94 0.347 -.0024933 .0070968
rnd .0136185 .0126099 1.08 0.280 -.0110965 .0383334
open -.1167023 .056453 -2.07 0.039 -.2273482 -.0060565

country_x
Brazil -.1074001 .0338803 -3.17 0.002 -.1738042 -.040996
Chile .0868462 .0290924 2.99 0.003 .029826 .1438663
China .2481532 .0602902 4.12 0.000 .1299865 .3663199
India .1492077 .0489354 3.05 0.002 .0532962 .2451193
Indonesia .1646308 .0429884 3.83 0.000 .080375 .2488866
Japan .0285766 .0374399 0.76 0.445 -.0448041 .1019574
New Zealand .0540126 .0223443 2.42 0.016 .0102187 .0978066
Pakistan -.0772959 .0434431 -1.78 0.075 -.1624428 .007851
South Korea .146322 .0272135 5.38 0.000 .0929844 .1996595
USA -.1041173 .0388745 -2.68 0.007 -.18031 -.0279247

_cons .978172 .0493042 19.84 0.000 .8815376 1.074807

Coefficients: generalized least squares
Panels: homoskedastic
Correlation: no autocorrelation

Estimated covariances = 1 Number of obs = 341

Estimated autocorrelations = 0 Number of groups = 11
Estimated coefficients = 16 Time periods = 31
Wald chi2(15) = 184.61
Log likelihood = 493.1187 Prob > chi2 = 0.0000

intrax Coef. Std. Err. z P>|z| [95% Conf. Interval]

gdpx .000201 .0000394 5.10 0.000 .0001238 .0002783

gdpgrx .0001597 .0000539 2.96 0.003 .0000541 .0002654
inflation -.0000656 .0000553 -1.19 0.236 -.0001741 .0000428
gdpp3 -1.48e-15 1.04e-15 -1.43 0.153 -3.52e-15 5.51e-16
unemp .0009751 .0020804 0.47 0.639 -.0031025 .0050526
gdpcap 2.35e-07 4.50e-07 0.52 0.601 -6.47e-07 1.12e-06
pd -.000075 .0001518 -0.49 0.621 -.0003726 .0002225
abd -.0018469 .0006923 -2.67 0.008 -.0032038 -.0004899
fdio -.0028384 .002092 -1.36 0.175 -.0069386 .0012619
agrival -.0065457 .0011581 -5.65 0.000 -.0088157 -.0042758
agriemp .0019277 .0004818 4.00 0.000 .0009834 .002872
manufval -.0026614 .0010215 -2.61 0.009 -.0046635 -.0006592
hightech -.000659 .0007247 -0.91 0.363 -.0020794 .0007615
tradeserv .0033653 .001715 1.96 0.050 4.05e-06 .0067266
rnd .0109357 .0076581 1.43 0.153 -.0040738 .0259453
open .0242223 .0417031 0.58 0.561 -.0575143 .1059589
_cons .8952015 .0411497 21.75 0.000 .8145496 .9758534
 Fixed-effects (within) regression Number of obs = 138
Group variable: country_x Number of groups = 10

R-sq: Obs per group:

within = 0.3877 min = 2
between = 0.0102 avg = 13.8
st: Ho: difference in coefficients not systematic overall = 0.0184 max = 31

F(16,112) = 4.43
chi2(14) = (b-B)'[(V_b-V_B)^(-1)](b-B) corr(u_i, Xb) = -0.9231 Prob > F = 0.0000
= 73.57
Prob>chi2 = 0.0000 intrax Coef. Std. Err. t P>|t| [95% Conf. Interval]
(V_b-V_B is not positive definite)
gdpx .0001544 .0000768 2.01 0.047 2.14e-06 .0003066
gdpgrx .0001073 .0001129 0.95 0.344 -.0001164 .0003309
log_inflation -.0225639 .0175797 -1.28 0.202 -.0573958 .012268
log_gdpp3 .0099086 .0404052 0.25 0.807 -.0701492 .0899664
log_unemp .0390235 .0240954 1.62 0.108 -.0087185 .0867655
log_gdpcap .0471841 .034516 1.37 0.174 -.021205 .1155733
log_pd .0223056 .0135741 1.64 0.103 -.0045898 .049201
log_abd .0134713 .0102607 1.31 0.192 -.0068591 .0338016
log_fdio .0024524 .0086787 0.28 0.778 -.0147434 .0196481
log_agrival .0712978 .031148 2.29 0.024 .0095821 .1330135
log_agriemp .0168159 .0171902 0.98 0.330 -.0172444 .0508761
log_manufval -.10389 .0404284 -2.57 0.011 -.1839937 -.0237863
log_hightech .0145067 .0125499 1.16 0.250 -.0103593 .0393727
log_tradeserv .1503528 .0510075 2.95 0.004 .0492881 .2514175
log_rnd -.1176841 .0455371 -2.58 0.011 -.2079101 -.0274581
log_open -.2165483 .066298 -3.27 0.001 -.3479093 -.0851874
_cons -.3035563 1.012493 -0.30 0.765 -2.309681 1.702568
Coefficients: generalized least squares
Panels: homoskedastic
Correlation: no autocorrelation

Estimated covariances = 1 Number of obs = 138

Estimated autocorrelations = 0 Number of groups = 10
Estimated coefficients = 17 Obs per group:
min = 2
avg = 13.8
max = 31
Wald chi2(16) = 113.61
Log likelihood = 205.7326 Prob > chi2 = 0.0000

intrax Coef. Std. Err. z P>|z| [95% Conf. Interval]

gdpx .0001868 .0000699 2.67 0.008 .0000498 .0003238

gdpgrx .0000479 .0000975 0.49 0.623 -.0001431 .000239
log_inflation -.002474 .0146385 -0.17 0.866 -.0311649 .0262169
log_gdpp3 .0087998 .0077407 1.14 0.256 -.0063717 .0239714
log_unemp .0168027 .0232162 0.72 0.469 -.0287002 .0623056
log_gdpcap .0371467 .0177808 2.09 0.037 .0022969 .0719965
log_pd -.001191 .0125131 -0.10 0.924 -.0257162 .0233343
log_abd -.0067047 .0084468 -0.79 0.427 -.0232601 .0098506
log_fdio -.0037377 .0073551 -0.51 0.611 -.0181534 .010678
log_agrival .0144615 .0229133 0.63 0.528 -.0304477 .0593707
log_agriemp .0413792 .0130631 3.17 0.002 .015776 .0669825
log_manufval -.0004329 .035608 -0.01 0.990 -.0702233 .0693576
log_hightech .0125786 .008277 1.52 0.129 -.003644 .0288012
log_tradeserv .0802496 .0464246 1.73 0.084 -.0107409 .1712401
log_rnd -.0159995 .0140179 -1.14 0.254 -.0434741 .011475
log_open -.0222363 .0493179 -0.45 0.652 -.1188976 .074425
_cons -.0281237 .4425626 -0.06 0.949 -.8955304 .839283
Principal components/correlation Number of obs = 138
Number of comp. = 16
Trace = 16
Rotation: (unrotated = principal) Rho = 1.0000

Component Eigenvalue Difference Proportion Cumulative

Comp1 5.63192 1.80155 0.3520 0.3520

Comp2 3.83037 1.63766 0.2394 0.5914
Comp3 2.19271 .649477 0.1370 0.7284
Comp4 1.54323 .864857 0.0965 0.8249
Comp5 .678373 .193826 0.0424 0.8673
Comp6 .484547 .0467885 0.0303 0.8976
Comp7 .437759 .0916675 0.0274 0.9249
Comp8 .346091 .122785 0.0216 0.9466
Comp9 .223307 .0397891 0.0140 0.9605
Comp10 .183517 .0189212 0.0115 0.9720
Comp11 .164596 .055768 0.0103 0.9823
Comp12 .108828 .0196695 0.0068 0.9891
Comp13 .0891586 .0416784 0.0056 0.9947
Comp14 .0474803 .0246059 0.0030 0.9976
Comp15 .0228744 .00763255 0.0014 0.9990
Comp16 .0152418 . 0.0010 1.0000
 Ina
Suffer Sunset Sunrise Great
Fiji

Suffer Collaborate Learn Learn Learn

Great (RCA>1;CMSA>0)
Sunset (RCA>1;CMSA<0)
Sunset Share Collaborate Learn Learn
Sunrise (RCA<1;CMSA>0)
Suffer (RCA<1;CMSA<0)

Sunrise Share Share Collaborate Learn

Great Share Share Share Collaborate

Source: Verico, unpublished, 2019

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Terima Kasih