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"ABSTRAKBeberapa penelitian menunjukkan bahwa aliran modal dinilai berkontribusi pada pertumbuhan kredit yang tidak wajar dan memiliki risiko seperti penghentian arus modal yang masuk secara tiba-tiba di mana hal tersebut mampu memicu terjadinya krisis keuangan. Di sisi lain, Asia masih menjadi tempat menarik untuk aliran modal. Dengan meningkatnya integrasi Asia dengan luar dan antar kawasan Asia, aliran modal di Asia mungkin akan terus berkembang, dan menimbulkan berbagai efek positif serta juga efek negatif. Dengan mengggunakan pendekatan kualitatif dan metode studi kepustakaan, penelitian ini berusaha untuk melihat peran capital inflow pada krisis keuangan Asia 1997. Hasil dari penelitian ini adalah bahwa capital inflow berperan sebagai bahan bakar pada lending boom yang diiringi dengan perilaku pengambilan risiko berlebihan, sehingga memicu krisis keuangan.

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ABSTRACTMany studies showed that capital inflow is believed to contribute in the excessive growth of credit and to have risk of sudden stop and capital reversal which can trigger financial crisis. Asia is still an attractive destination of capital inflow from abroad. With the development of Asian integration within and outside the region, capital inflow to Asia might be persistently happening. Using qualitative approach and literature study method, this study aims to understand the role of capital inflow to the Asian financial crisis in 1997. This study found that capital inflow acted as a fuel to lending boom which induce excessive risk taking that trigger financial crisis. "

""A collection of selected articles related to the Asian experience with two crises -- the Asian financial crisis in 1997-98 and the global financial crisis of 2007-08 -- written by Dr Jong-Wha Lee, former chief economist of the Asian Development Bank. These papers are grouped into three broad topics: Anatomy of Asian Growth and Crises, Asian Financial Crises: Responses and Lessons, and Global Financial Crisis and Challenges to Asia's Sustained Growth. The topics include the relation of the East Asia's development strategies with the 1997-98 Asian financial crisis, the causes of the Asian financial crisis, the desirability of IMF programs, the assessment of recovery and structural reforms, the process of spillovers of the global financial crisis to Asia, regional and global economic linkages, the role of China and the renminbi, and the long-term growth projections of Asian economies. The research collected in this book will be very useful for policymakers who want to learn from the Asian experience with the crises and it is a key contribution to ongoing research and policy debates on the future of Asian economies"--"

"ABSTRAKPenelitian ini bertujuan mempelajari peran modal sosial dalam proses pemulihan bencana di Indonesia, menggunakan dua proxy keluaran yaitu jumlah hari yang dijalani korban bencana dalam pengungsian dan rekonstruksi tempat tinggal yang telah dilakukan korban. Penulis mengacu pada penelitian sebelumnya yang mengkonfirmasi adanya efek yang signifikan dari modal sosial dalam mendukung proses pemulihan dari bencana. Untuk mengatasi efek endogenitas yang ditimbulkan dari modal sosial, metode OLS dan 2SLS diterapkan dengan memasukkan faktor keseragamaan agama dan etnik. Hasil estimasi memperlihatkan bahwa partisipasi dalam pemilihan kepala desa mempunyai pengaruh positif yang signifikan pada jumlah hari yang dijalani korban bencana di pengungsian. Selain itu, modal sosial tidak mempunyai pengaruh yang berarti terhadap usaha rekonstruksi tempat tinggal korban, karena rumah tangga terdampak bencana masih menjadikan faktor keuangan sebagai perhatian utama. Penelitian lebih lanjut dengan memasukkan faktor mitigasi bencana seperti asuransi dan bantuan teknologi perlu dilakukan, demi mendapatkan pengertian yang lebih mendalam di bidang penanggulangan bencana.

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ABSTRACTThis research examined the role of social capital in the disaster recovery process in Indonesia using two outcome proxies i.e. the days that the victims spend in the temporary housing and the housing reconstruction that households has done. The author refers to previous studies that capture the significant effect of social capital to the recovery process. OLS and 2SLS model have been utilized for estimating the outcome, which include the uniformity of religion and ethnicity as control variables. The estimation results show us that participation in head of village voting has a positive significant relationship to the days that the victims spends in temporary shelter. Meanwhile, social capital has no significant impact to housing reconstruction option since households still take financial issue as their main concern. Further research that include households rsquo pre disaster mitigation like insurance and technology implementation need to be conducted, to obtain a more comprehensive insight in this field."

"Skripsi ini berisi tentang strategi kebijakan tata kelola modal asing Indonesia dan Tiongkok dalam pemulihan ekonomi setelah krisis di tahun 1997-1998 hingga 2012. Permasalahan dalam skripsi ini adalah bagaimana strategi kebijakan tata kelola investasi asing Indonesia dan Tiongkok dalam pemulihan ekonomi pasca krisis tahun 1997-1998 hingga 2012. Penelitian ini adalah eksplanatif yang menggunakan metode kualitatif. Pendekatan menggunakan ekonomi-politik Keynesian, teori otonomi relatif negara (Bob Jessop), dan konsep makroekonomi dan mikroekonomi. Hasilnya ialah posisi dan peran modal asing mengalami pasang-surut dalam kontribusi terhadap pemulihan dan pembangunan ekonomi di kedua negara. Lalu, karakteristik Indonesia lebih mengarahkan modal asing di sektor ekstraktif sedangkan Tiongkok lebih mengarahkan modal asing untuk masuk sektor manufaktur dan pengembangan teknologi. Hasil penelitian skripsi menunjukkan Tiongkok berdasarkan indikator makroekonomi lebih berhasil mengelola modal asing dibandingkan Indonesia. Namun berdasarkan indikator mikroekonomi, kedua negara tersebut masih mengalami masalah dalam tata kelola modal asing yakni meningkatnya kesenjangan kekayaan serta masalah kerusakan lingkungan.

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This thesis examines policy strategies to govern foreign capital of the Republic of Indonesia in comparison with that of the People Republic of China (PRC) during economy recovery after crisis in 1997-1998 until 2012. Problems studied in this thesis are how the two states govern foreign investment during economic recovery between 1997-1998 and 2012. This research is an explanatory research using qualitative methods. This research employs Keynesian political economy approach, the theory of the relative autonomy of the state (Bob Jessop), and the concept of macroeconomics and microeconomics in explaining both state’s foreign capital governance.

The study finds that position and role of foreign capital have ups and downs in contributing to economic recovery and development in both countries. Indonesia emphasized more on direct foreign investment in the extractive sector, while China more on manufacturing sector and investment on high technology. In the end, based on macroeconomic indicators, China is more successful in managing foreign capital than Indonesia. However, based on microeconomic indicators, both countries are still experiencing problems in governing foreign capital in order to reduce economic gap and cope with environmental degradation."

"This book presents an economic survey of international capital mobility from the late nineteenth century to the present. The authors examine the theory and empirical evidence surrounding the fall and rise of integration in the world market. A discussion of institutional developments focuses on capital controls and the pursuit of macroeconomic policy objectives in shifting monetary regimes. The Great Depression emerges as the key turning point in recent history of international capital markets, and offers important insights for contemporary policy debates. Its principal legacy is that the return to a world of global capital is marked by great unevenness in outcomes regarding both risks and rewards of capital market integration. More than in the past, foreign investment flows largely from rich countries to other rich countries. Yet most financial crises afflict developing countries, with costs for everyone."

"Tingkat kepemilikan perusahaan sangat penting selama masa-masa kritis seperti krisis keuangan. Ketika krisis melanda, perusahaan menghabiskan cadangan kas mereka untuk membayar kewajiban sementara pendapatan atau arus kas mengalami penurunan. Penelitian ini bertujuan untuk menganalisis dampak dari tingkat kepemilikan kas perusahaan terhadap pemulihan kinerja perusahaan setelah turbulensi keuangan yang disebabkan oleh pandemi Covid-19 dan untuk mengevaluasi apakah perusahaan dapat melakukan pemulihan kinerja lebih cepat dibandingkan dengan perusahaan yang tingkat kepemilikan kas-nya lebih rendah. Penulis berhipotesis bahwa tingkat kepemilikan kas perusahaan menentukan kemampuan mereka dalam melewati krisis dan memulihkan kinerja mereka dengan cepat setelah krisis. Ruang lingkup penelitian ini adalah perusahaan non-finansial yang terdaftar di BEI melalui laporan keuangan yang dipublikasikan. Meskipun kecepatan pemulihan relatif lambat setelah resesi yang disebabkan oleh pandemi Covid-19, kami menemukan bahwa tingkat kepemilikan kas perusahaan berkontribusi positif terhadap kinerja operasional perusahaan yang diukur dengan EBITDA, serta berkontribusi positif terhadap percepatan pemulihan kinerja Sales dan Market-to-Book Ratio bagi perusahaan yang mengalami penurunan pertumbuhan kinerja operasional akibat krisis. Kami merekomendasikan agar perusahaan merumuskan kebijakan dan strategi cash-holding mereka untuk memitigasi krisis di masa depan dengan lebih baik.……Corporate cash holding is critical during challenging times like the Financial Crisis. When a crisis strikes, firms may exhaust their cash reserves to pay for their liabilities while their revenue or cash flow declines. This study aims to analyze the impact of firms' cash holdings on their recovery after the financial turbulence caused by the Covid-19 pandemic and to evaluate whether it enables the company to recover more quickly than those with lower cash holdings. This study hypothesize that the degree of firms' cash holding determines their ability to get through the Crisis and recover their performance quickly after the Crisis. The scope of this research is non-financial companies listed on the IDX through published financial reports. Despite the relatively slow recovery speed after the recession caused by the Covid-19 pandemic, this study found that corporate cash holding contributes positively to company operating performance measured by EBITDA, and also contributed positively to accelerating the recovery of Sales and Market-to-Book Ratio performance for companies that experienced a decline in operational performance growth due to the crisis. We recommend that companies formulate their cash-holding policies and strategies to mitigate crises in the future better."