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p-Index From 2021 - 2026
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All Journal Journal of Economic Growth and Development Review
Pertiwi, Handayani Mega
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Economics, Econometrics & Finance

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The Effectiveness of Monetary Policy in Controlling Inflation: Comparative Perspective of Emerging Markets Economies Pertiwi, Handayani Mega
Journal of Economic Growth and Development Review Volume 2 Issue 1 March 2025
Publisher : Professorline

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62012/jegar.v2i1.13

Abstract

This study analyzes the effectiveness of monetary policy in controlling inflation from a comparative perspective in seven emerging market countries during the period 2010-2023. Using panel data analysis and event study methods, this study investigates the factors that influence monetary policy transmission and its impact on price stability. Empirical results show that a 100 basis point increase in the benchmark interest rate is associated with an average decrease in the inflation rate of 0.76 percent , but with substantial variation across countries (elasticity coefficients range from -0.42 to -1.18). Central bank independence, the level of financial market development, and external vulnerability are identified as the main determinants of monetary policy effectiveness. Countries with a higher central bank independence index show better success in controlling inflation, while a high degree of economic dollarization is correlated with lower monetary policy effectiveness. This study also reveals a significant interaction between monetary and fiscal policies, where high fiscal deficits tend to reduce the effectiveness of monetary policy. These findings highlight the importance of institutional reforms, domestic financial market development, and economic policy coordination as prerequisites for effective monetary policy in emerging m countries.
The impact of economic growth and development on inequality and poverty Pertiwi, Handayani Mega
Journal of Economic Growth and Development Review Volume 1 Issue 1 March 2024
Publisher : Professorline

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62012/jegar.v1i1.3

Abstract

This research aims to find out the relationship between inequality and poverty and economic growth and development. This study uses panel data from 158 countries from 1960 to 2010. The results show that the correlation between growth and poverty is consistently negative: a 10 percent drop in the poverty rate is associated with an increase in GDP per capita of 0.5- 1.2% per year. On the other hand, the correlation between growth and inequality is empirically delicate - it can be positive or negative depending on the empirical definitions and the econometric approach used. However, the indirect effect of inequality on economic growth through its correlation with poverty is strongly negative. In this case, the study's results suggest that the high-poor samples' results drive these results.
Financial Innovation in the Time of Pandemic: Economic Response and Global Financial Challenges Pertiwi, Handayani Mega
Journal of Economic Growth and Development Review Volume 1 Issue 2 September 2024
Publisher : Professorline

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62012/jegar.v1i2.9

Abstract

The COVID-19 pandemic has triggered an unprecedented transformation in the global financial landscape, driving rapid innovation in response to emerging economic challenges. This research analyzes the impact of the pandemic on financial innovation, investigating changes in consumer behavior, technology adoption and regulatory responses. Using a mixed methods approach, the study integrates quantitative data analysis from global surveys and industry statistics with qualitative insights from interviews with experts. Results show a significant acceleration in the adoption of digital financial services, with a 72% increase in mobile banking use and a 58% increase in contactless payments. The research also reveals increasing interest in Central Bank Digital Currencies (CBDCs) among global central banks, with 86% actively researching their potential. Although these innovations increase financial inclusion, especially in developing countries, challenges such as cybersecurity and the digital divide remain. This study highlights the need for an adaptive regulatory framework to balance innovation with financial system stability. In conclusion, the pandemic has been a catalyst for digital transformation in the financial sector, with long-term implications for monetary policy, financial inclusion and the global financial architecture. This research provides valuable insights for policymakers, financial institutions and researchers in navigating the post-pandemic financial landscape and leveraging innovation for greater economic resilience.
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