| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 107-137 |
| Abstraksi Narasi | : | Treatments of Indonesia`s financial crisis customarily focus on exchange rate collapse, neglecting the question of why enterprises were so highly leveraged beforehand. This article reviews controlling shareholder-debtor behaviour bothbefore and during the crisis. It then examines Indonesia`s emergency bankruptcy legislation effective August 1998-which enjoys a mixed record in implementation-and articulates bankruptcy policy principles for the replacement legislation now being drafted. Progress on the insolvency front nas been limited to a relatively small number of voluntary debt reorganisations. Early indications are that such restructuring largely take the form of debt rescheduling rather than debt-equity swaps, loan write-offs, or other approaches that would lessen enterprises` heavy leveraging. This outcome reflects problems in creditor as well as debtor preferences. What began as a private sector insolvency problem increasingly overlaps with efforts to address general banking sector difficulties. Further, nationalism questions complicate the resolution of insolvencies. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 147-154 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | Evers, Hans-Dieter, Solvay Gerke, Thomas Menkhoff, Ross H. McLeod, David K. Linnan, Pierre van der Eng, Takahiro Akita, Rizal Affandi Lukman, Raden Pardede, Soesastro, Hadi, Eric D. Ramstetter |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 155-156 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 141-142 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 121-127 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 3-40 |
| Abstraksi Narasi | : | Monthly inflation fell to around zero in October 1998, while the rupiah strengthened considerably. Some recovery of share prices and significant declines in interest rates have given cause for optimism, and early estimates of increases in both poverty and unemployment now apper unjustifiably pessimistic. Although non-oil exports have been growing reasonably well, the plunge in imports reflects the severely depressed economy, and there is little to suggest that recovery is imminent. The private sector is waiting until the political outlook becomes clearer, and continuing outbreaks of violence have further eroded its confidence. The new bankruptcy laws are not working effectively and so a de facto debt moratorium prevails. Consequently, banks are unwilling to provide the new finance needed it firms are to re-employ workers and boost output. Neither the foreign debt restructuring agency, INDRA, nor the Jakarta Initiative has contributed significantly to resolving the debt bottleneck. The bank rehabilitation program appears mired in confusion, and there is opposition to it from both bank owners and the parliament. Privatisation is moving far more slowly than planned and, although the budget for 1999 / 2000 has been reasonably weel received, it appears to be contractionary. The emergence of populist economic policies can be seen in the MPR Decree on Economic Democracy, the proliferation of cheap credit programs, proposals for transferring the assets of failed banks to cooperatives and small and medium enterprises, and the introduction of an anti-monopoly law. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 99-119 |
| Abstraksi Narasi | : | This study uses 1989 Susenas household data to examine the impact of parental education on pre-school children`s nutrional status, as measured by weight-for-age Z-scores. Reduced form regressions are estimated separately for boys and girls in rural and urban areas; explanatory variables include mother`s and household head`s education; per capita household expenditure; and aspects of the household sanitary environment. The analysis controls for influence of unobserved heterogenity at village level, e.g. differences in prices and medical service provision. The estimates show a significant effect of parental schooling on child health status, varying between urban and rural areas, and by child gender and age. Mothers with secondary education typically have healthier boys than those with less schooling, while this effect is seen for girls only if the mother has more than secondary education. Maternal schooling significantly affects 2-5 year olds` health, but has little direct effect on that of younger children. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 75-97 |
| Abstraksi Narasi | : | This paper presents new capital stock estimates for medium and large-scale manufacturing in Indonesia using the Perpetual Inventory Method. Capital stock grew gradually during 1975-1988, at an annual rate of 7.6%, then boomed during 1989-1995 at 13.6% per annum. Growth accounting shows that 60% of the rapid growth of manufacturing output during the period 1975-1995 was due to capital input growth, 18% to labour input growth and the remaining 22% to total factor productivity (TFP) growth. There is no evidence of a shift of factor inputs towards more efficient industries. TFP growth averaged 3% annually in 1975-1995. Performance varied greatly across industries, but the policy changes that have taken effect since 1986 have definitely been beneficial for all industries. Put in an international perspective, however, Indonesia`s TFP levels show no signs of catch-up with world frontier. |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 129-132 |
| Abstraksi Narasi | : | - |
| Nama Pengarang | : | - |
| Nama Majalah/Jurnal | : | Bies: Bulletin of Indonesian Economic Studies |
| Volume / Nomor Edisi | : | - |
| Nomor Halaman | : | 43-73 |
| Abstraksi Narasi | : | This paper analyses trends and levels of industrial concentration in 102 Indonesian industries between 1975 and 1993. There was a long-term decline in industrial concentration across the manufacturing sector over this period. The simple average four-firm concentration ratio declined from 64% in 1975 to 54% in 1993, while the percentage of industries classified as highly concentrated fell from 39% in 1975 to 28% in 1993. Allowing for foreign trade substantially reduces average concentration measures: in1993 the average concentration of a sample of 67 industries was 53% without adjustment for foreign trade, but 41% if foreign trade was allowed for. Thus, competition is stronger in Indonesian markets than domestic concentration ratios would suggest. |
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