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"Following sharp declines in oil revenues in late 1982 and again in 1986, the government of Indonesia recognized the need for major reforms. First, non-oil exports had to be increased to maintain the flow of imports essential for continued development. Second, with the decline in oil revenues, fewer resources were available to the public sector, and therefore it became necessary to stimulate private savings. An integral part of the policy reform was to remove the interest rate ceiling and credit ceiling in June 1983. The general objective was to mobilize the saving and increase the investment. The move from administrative control to market system is also expected to increase the allocative efficiency of credit which eventually increases the economic growth. Yet, Indonesia's experience in liberalizing its financial sector did not result as expected and there was a disruption in the financial sector though this disruption did not lead to the macroeconomic instability or financial crisis as was experienced by the Southern Cone countries. There are at least three causes, according to the literatures, that makes the Indonesian experience in financial liberalization does not completely as expected. First, reform in financial sector is unaccompanied by similar reforms in trade, and industry. Second, the design and sequencing of reform measures have been wrongly formulated. Third, the regulatory apparatus have not functioned in a manner conducive to the smooth progression of reform policy implementation. The main objective of this thesis is to justify the Fry's model of financial development, reviews the financial policy taken by the authorities and spells out what can be learned from empirical evidence in regard to financial liberalization policies and the instruments of their implication in Indonesia. The model developed by Fry shows that the efficiency of Indonesian economy as indicated by IOCR was deterred by a financial reforms. The exceptionally high real interest rates following the fmancial liberalization has caused the bank loans went to nonviable and unproductive projects and, as a result, bad debts became dominant and unsustainable. Review from the economic reforms in Indonesia revealed that the wrong sequence of reform had contributed to the high real interest rates. while the financial infrastructure of financial sector that should come after the financial liberalization was absent. The important lesson that can be drawn from financial liberalization in Indonesia is that although financial liberalization is desirable, its modality, design and sequencing are no less important. In shallow financial markets, full liberalization does not appear to be the first best policy. Until capital market develops and functions effectively and substantial progress is made in regard to structural adjustments in trade, industry and the legal system underlying the financial system as a whole, a second best policy may be to have a diminishing degree of government intervention in financial markets spread over a period of time, derNing guidance from the market-related indicators. The government intervention can be market destroying or market promoting. The former type of government intervention resulted in financial repression in the past in many of the developing countries, the latter may assist them to reach in course of time a fully liberalized, efficient and progressive financial system."

"Krisis ekonomi global yang terjadi pada tahun 2008 turut berdampak kepada kondisi perekonomian di Indonesia, salah satunya ancaman terjadinya kebangkrutan pada perusahaan. Penelitian mengenai prediksi terjadinya kebangkrutan (financial distress) pada awalnya hanya menggunakan rasio keuangan saja, kemudian diperluas hingga ekonomi makro. Penelitian ini bertujuan untuk menganalisis pengaruh rasio keuangan berupa total turnover asset ratio, debt ratio, current ratio, quick ratio, working capital to total asset ratio, dan return on asset serta ekonomi makro berupa Produk Domestik Bruto (PDB), Indeks Harga Konsumen (IHK), jumlah uang yang beredar (M2), Indeks Harga Saham Gabungan (IHSG) dan BI Rate terhadap probabilitas terjadinya financial distress perusahaan non – keuangan yang terdaftar di Bursa Efek Indonesia periode 2008 – 2017. Sampel terdiri dari 192 perusahaan yang di kategorikan sebagai perusahaan financial distress dan non – financial distress. Data tersebut kemudian di analisis menggunakan teknik analisis regresi logistik dan data akan diolah dengan SPSS. Hasil menunjukkan bahwa rasio keuangan dan ekonomi makro dapat digunakan sebagai prediktor terjadinya financial distress dengan tingkat akurasi dalam memprediksi jawaban yang benar sebesar 80,4%. Dari enam rasio keuangan hanya total turnover asset ratio, working capital to total asset ratio dan return on asset ratio yang signifikan berpengaruh terhadap financial distress. Serta, hanya dua komponen dari ekonomi makro yaitu Produk Domestik Bruto (PDB) dan Indeks Harga Saham Gabungan (IHSG) dari lima komponen lainnya yang berpengaruh signifikan terhadap financial distress.

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The economic crisis that occurred in 2008 affected Indonesia economic conditions by way of increased threat of bankruptcy. Studies prediction of financial distress are initially limited to financial ratios for determinants, however they were extend to macroeconomic variables. This study aims to analyze the effect of financial ratios that are total asset turnover ratio, debt ratio, current ratio, quick ratio, working capital to total asset ratio, and return on assets also macroeconomic variables that are Gross Domestic Product (GDP), Consumer Price Index (CPI), Money Supply (M2), Indonesia Composite Index, and BI Rate on the probability of financial distress of non-financial companies listed in Indonesia Stock Exchange in 2008 - 2017. The sample consisted of 192 listed companies which are categorized financially and non-financially distressed companies. Data analyzed using logistic regression analysis techniques. The results show that financial ratios and macroeconomic variables can be used as predictors of financial distress with 80.4% accuracy rate in variables. From six financial ratios only total asset turnover ratio, working capital to total asset ratio and return on asset ratio significantly affect to financial distress. Only two components out of the five macroeconomic variables that has significant effect on financial distress, namely Gross Domestic Product (GDP) and Indonesia Composite Index.

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""Modern Financial Macroeconomics takes a non-technical approach in examining the role that financial markets and institutions play in shaping outcomes in the modern macro economy."--BOOK JACKET."

"Penelitian ini disusun untuk menganalisis pengaruh dua arah antara kebijakan fiskal dan variabel makroekonomi terhadap Indeks Harga Saham Gabungan (IHSG). Variabel kebijakan fiskal dalam penelitian ini diukur menggunakan pendapatan negara, belanja negara, pembiayaan negara, dan keseimbangan primer. Sedangkan variabel makroekonomi diukur menggunakan inflasi dan nilai tukar. Data yang digunakan dalam penelitian ini adalah data time series bulanan dari tahun 2014 hingga 2021. Selanjutnya, teknik analisis data yang digunakan dalam penelitian adalah analisis Vector Autoregressive (VAR), dimana penggunaan analisis VAR disesuaikan dengan tujuan penelitian yang menganalisis pengaruh dua arah antar variabel penelitian. Hasil dari penelitian ini berdasarkan pada pengujian kausalitas granger menemukan bahwa   pertama, untuk kebijakan fiskal dan IHSG, terjadi hubungan kausalitas satu arah antara belanja negara dengan IHSG serta terjadi hubungan kausalitas dua arah antara keseimbangan primer dengan IHSG. Sedangkan untuk komponen kebijakan fiskal yang lain seperti pendapatan negara dan pembiayaan negara tidak terjadi hubungan kausalitas. Kedua, untuk variabel makroekonomi, terjadi hubungan kausalitas satu arah antara inflasi dengan IHSG serta terjadi hubungan kausalitas satu arah antara IHSG dengan nilai tukar.

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This study was structured to analyze the two-way effect between fiscal policy and macroeconomic variables on Jakarta Composite Index (JCI). Fiscal policy variables in this study are measured using state revenue, state spending, state financing, and primary balance. While macroeconomic variables are measured using inflation and exchange rates. The data used in this study are monthly time series data from 2014 to 2021. Furthermore, the data analysis technique used in this study is Vector Autoregressive (VAR) analysis, where the use of VAR analysis is adjusted to the research objectives which analyze the two-way influence between research variables. The results of this study based on granger causality testing found that first, for fiscal policy and the JCI, there is a one-way causality relationship between spending state and the JCI and a two-way causality relationship between the primary balance and the JCI. Meanwhile, for other components of fiscal policy, such as state revenues and state financing, there is no causal relationship. Second, for macroeconomic variables, there is a one-way causality relationship between inflation and the JCI and a one-way causality relationship between the JCI and the exchange rate."

"This volume offers a novel, highly mathematical approach to the solution of very realistic economy control problems. It presents strong examples of the application of mathematical modeling, advanced control theory, and model-based decision making that could be adopted by researchers and graduate students. ;"

"Memiliki mandor dengan motivasi tinggi merupakan salah satu alternatif yang dapat dipilih untuk meningkatkan produktifitas proyek konstruksi. Secara umum, motivasi tenaga kerja dapat ditingkatkan dengan beberapa cara. Salah satunya adalah dengan memberikan insentif finansial. Penelitian ini menganalisis besarnya pengaruh pemberian insentif finansial untuk mandor terhadap produktifitas proyek konstruksi di Indonesia. Data penelitian didapat dengan mensurvey 52 responden yang telah memiliki pengalaman kerja minimal 5 tahun. Pengolahan data dilakukan dengan menggunakan metode statistik.Temuan yang didapat adalah walaupun ada hubungan antara insentif finansial dengan produktifitas proyek konstruksi, insentif finansial tidak memberikan pengaruh yang signifikan terhadap kenaikan ataupun penurunan produktifitas proyek konstruksi. Namun, adanya hubungan antara insentif finansial dan produktifitas proyek konstruksi menandakan terdapat peluang untuk meningkatkan produktifitas proyek konstruksi dengan cara memberikan insentif finansial pada mandor.

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Having a high-motivated foreman is one of the alternatives that can be selected to increase construction project productivity. In general, worker?s motivation can be upgraded by using some ways. One of them is by giving financial incentive to worker. This study analyzes level of influence of financial incentive given to foreman towards construction project productivity in Indonesia. Research data is gained by surveying 52 respondents who own minimal 5 years work experience. Data processing is committed by means of statistic method.The result is although financial incentive correlate to construction project productivity, financial incentive does not significantly influence to the increase or decrease construction project productivity. Yet, the correlation existence between financial incentive and construction project productivity shows that there?s opportunity to increase construction project productivity by giving foreman a financial incentive."