The aim of this paper is to analyze changes in regional economic factors to cause regional economic disparity before and after of financial crisis. For this, spatial econometrics model was employed. Regional economic disparity was reduced when the economy was grown up. From estimated results, the σ-convergence was close to 0 in the analysis of 1996 against 1993, but increased to 0.024 in the analysis of 2006 against 1997. Before financial crisis, the capital investment and the investments on education and construction sectors affected regional economic growth strongly, reducing regional economic disparity. But after financial crisis the capital investment and the investment in construction sector had low contribution to regional economic growth and the regional equity. Also, the productivity variable showed negative sign. The policy to attract private investments must be considered to achieve economic growth and reduce regional economic disparity.