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"In 2020, the Covid-19 pandemic brought down the economies of countries around the world, including Indonesia. To overcome this crisis, President Joko Widodo enacted Government Regulation in lieu of Laws No.1 of 2020, which currently has become Law No. 2/2020 concerning State Financial Policies and FinancialSystem Stability for Handling the Covid-19 Pandemic and/or in the context of facing threats that endanger the national economy and/or financial systemstability. This Law was designed to deal with the financial system crisis caused byCovid-19. However, some views that this Law contained issues that influences the independence of Bank Indonesia. One aspect that touches the independence of Bank Indonesia in this regulation is related to the purchase of long-term Government Bonds on the Primary Market by Bank Indonesia for the Governmentto conduct the fiscal policies and the PEN Program. Bank Indonesia also funds the state budget deficit through printing money for the Government. The Financial System Stability Committee, which includes the Minister of Finance as coordinator and Bank Indonesia as a member, has a substantial role in Law No. 2 Year 2020. In this regard, economists and experts believe that there has been intervention by the Government against Bank Indonesia’s independence in thispandemic. At the same time, it can also be said that this policy aims to stabilizethe financial system due to the Covid-19 pandemic. The normative juridicalresearch method was used in this thesis to analyze how does Law No. 2 Year 2020 influences Bank Indonesia’s independence."

"ABSTRAKPendanaan pembangunan melalui transfer ke daerah merupakan salah satu modaldalam pembangunan daerah yang diberikan oleh Pemerintah Pusat dalam eradesentralisasi. Kemandirian fiskal merupakan indikator utama dalam mengukurkemampuan pemerintah daerah untuk membiayai sendiri kegiatan pemerintahandaerah. Kemandirian keuangan daerah tercermin dalam Derajat DesentralisasiFiskal dan Rasio Kemandirian Keuangan Daerah. Derajat Desentralisasi Fiskaladalah rasio Pendapatan Asli Daerah (PAD) terhadap Total Penerimaan Daerah(TPD), sedangkan Rasio Kemandirian Keuangan Daerah adalah rasio PendapatanAsli Daerah (PAD) terhadap Total Pengeluaran Daerah (TKD) dalam APBD.Tingkat kemandirian keuangan daerah provinsi di Indonesia selama periode tahun2003-2010, baik dilihat dari nilai Derajat Desentralisasi Fiskal maupun nilai RasioKemandirian Keuangan Daerah, termasuk dalam kategori sedang karena nilainyamasih berada diantara 30 sampai dengan 40 persen.

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ABSTRACTDevelopment funding through regional transfer is one of the capital provided bythe Central Government for regional development in this decentralization era.Fiscal independence is the key indicator to measure the local government’s abilityto self-finance their activities. The independence of regional finance is reflected inthe Degree of Fiscal Decentralization and the Ratio of Regional FinanceIndependence. Degree of Fiscal Decentralization is the ratio of Regional Revenue(PAD) to Total Regional Revenue (TPD), while the Ratio of Regional FinanceIndependence is the ratio of Regional Revenue (PAD) to Total of RegionalExpenditure (TKD) in Local Budget (APBD). If it is viewed from the Degree ofFiscal Decentralization value and the Regional Finance Independence Ratio value,the level of Regional Finance Independence in Indonesian provinces over theperiod of 2003-2010 is included in medium category for the value remains in therange of 30 up to 40 percent."

"Independensi bank sentral sebagai bentuk hubungan bank sentral dan negara mengalami tren peningkatan yang signifikan pasca runtuhnya Sistem Bretton Woods. Tulisan ini berupaya untuk menganalisis fenomena peningkatan bank sentral yang independen dari negara melalui kajian terhadap perdebatan konsep independensi bank sentral di antara dua paradigma dominan, yaitu Keynesianisme dan Neoliberalisme. Dalam prosesnya, tulisan ini memanfaatkan metode tipologi dan taksonomi dalam melakukan survei literatur. Argumen utama yang muncul dari analisis tersebut adalah bahwa narasi literatur yang berkembang dan diterima secara masif di tingkat global dalam isu hubungan bank sentral dan negara telah didominansi oleh perspektif paradigma Keynesianisme dan Neoliberalisme. Berdasarkan survei literatur dengan mengandalkan dua metode utama tersebut, tulisan ini juga menemukan kalau narasi independensi bank sentral masih lebih terbatas hanya pada negara maju dan negara Barat yang kemudian menjadi kesenjangan literatur. Oleh karena itu, terdapat tiga poin yang disasar dalam mendalami topik ini, yaitu pemahaman terhadap interpretasi independensi bank sentral, argumentasi kritis sebagai justifikasi independensi bank sentral, dan peranan bank sentral yang independen dalam arsitektur finansial dan moneter global dilihat dari sudut pandang Keynesianisme dan Neoliberalisme.

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Central bank independence as a form of central bank-state relations experienced a significant increase after the collapse of the Bretton Woods System. This paper seeks to observe the phenomenon of increasing central bank that is independent from the state through deep analyzes to the debate over the concept of central bank independence among two dominant paradigms, Keynesianism and Neoliberalism. Using typology and taxonomy as the main methods, this paper argues that Keynesianism and Neoliberalism have dominated academic narratives in mainstream literatures over this debate. Literature review also found that the concept of central bank independence within these two paradigms is still limited only from developed and Western countries which later became literature gaps. Therefore, there are three main points elaborated in this paper, which are the interpretation of central bank independence, critical arguments as justification for central bank independence, and the role of independent central bank in global financial and monetary architecture from the perspective of Keynesianism and Neoliberalism."

"This study aims to examine the concept of media organizations?performance and the factors that influence their level of performance. Mediaorganizations are often private profit-seeking enterprises but at the same timealso have a public side that realizes freedom of speech, which is a core value ofdemocracy. Therefore, a theory of media organizations? organizational performanceneeds to reflect this duality. We divide media organizations? organizationalperformance into two categories: economic-industrial and sociocultural.Economic-industrial performance can be defined as how media organizationsperform in the market. A typical indicator is how much sales revenue they bringin. In addition, because their revenue heavily depends on advertisements, newspapersubscriptions or television viewer ratings, which are directly connected toadvertisement revenue, can be used as performance indicators.Sociocultural performance refers to how media organizations perform withrespect to their content. A media organization?s sociocultural performance primarilydepends on whether it has accomplished the goals indicated by relevantlaws. In addition, sociocultural performance depends on how the contents of amedia organization are received by its readers or viewers, which can be identifiedby media credibility measures that are conducted by many organizations.Factors that influence media organization?s performance include independence,diversity and openness. The present study is a preliminary attempt to provide aconceptual analysis as groundwork for empirical research. We hope this preliminaryexamination builds a foundation for comparative studies of diverse publicorganizations such as public hospitals, universities, and public enterprises andcan contribute to further theoretical and conceptual discussions about organizationalperformance."

"Pandemi Covid-19 telah memaksa pemerintah untuk bersikap dan merespon dengan keputusan yang cepat dan tepat. Keputusan Presiden untuk menerbitkan Perppu untuk penanganan pandemi Covid-19 menuai kontroversi berkaitan dengan materi muatan dan prosedural penerbitan Perppu. Penelitian ini bertujuan meninjau pilihan hukum kedaruratan pemerintah dalam menangani pandemi Covid-19 dan implikasi pilihan hukum kedaruratan terhadap pembentukan produk hukum Perppu dengan menggunakan metode yuridis-normatif. Penelitian menemukan bahwa pilihan hukum kedaruratan campuran sebagai pilihan hukum pemerintah dalam menangani pandemi Covid-19 yang menggabungkan pilihan berdasarkan undang-undang yang telah ada dan yang baru dibentuk serta menekankan pentingnya kontrol parlemen terhadap potensi praktik kesewenang-wenangan Presiden. Karena itu diperlukan respon dan sikap DPR RI secara objektif dalam melegitimasi tindakan Presiden yang secara subjektif ditetapkan melalui penerbitan Perppu Nomor 1 Tahun 2020 dan Perppu Nomor 2 Tahun 2020. Prosedur pengawasan DPR RI dalam mengesahkan Perppu menjadi undang-undang harus mengedepankan permusyawaratan proporsional berdasarkan hukum tidak hanya mengandalkan kepentingan politik semata. Sebaliknya Presiden perlu mempertimbangkan setiap pilihan kebijakan selama menangani pandemi Covid-19 dan menerima evaluasi serta kritik agar senantiasa berjalan berdasarkan atas hukum yang berlaku tanpa mengesampingkan hak dan kepentingan rakyat. Melalui penelitian ini diharapkan setiap elemen pemerintahan maupun rakyat dapat bahu-membahu dan memberikan sinyal kekompakan dalam mencari jalan keluar bersama untuk menyelamatkan negeri dari pandemi yang masih tak kunjung menepi.

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The Covid-19 pandemic has forced the government to act and respond quickly with appropriate decision. The President's decision to issue a lieu of law for handling the Covid-19 pandemic has sparked controversy regarding the substantive and procedural lieu of law issuance. This research intends to observe the government's emergency law option in dealing with the Covid-19 pandemic and the implications of emergency law options on the formation of the lieu of law using the juridical-normative method. This research found that the mixture of mixed emergency option combines options based on existing laws and newly formed and emphasizes the importance of parliamentary control over the President arbitrary power potential. Therefore, it requires an objective response and attitude from the House of Representatives is needed to legitimate the President's actions subjectively determined through the issuance Lieu of Law Number 1 of 2020 and Lieu of Law Number 2 of 2020. The House of Representatives oversight procedure in ratifying lieu of law must prioritize proportional deliberation based on the law not rely solely on political interests. On the other hand, the President needs to consider his decision consequences and accept evaluations and criticisms that always walk according by law without compromising the rights and interests of the people. Through this research, it is hoped that every element of the government and the people can work together and give a signal of solidarity in finding a way out together to save the country from the pandemic that is still not over."

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Pandemi Covid-19 telah membuat Indonesia berada dalam keadaan darurat karena krisis ekonomi dan kesehatan. Perubahan anggaran pendapatan dan belanja negara (APBN) pun dijadikan salah satu cara untuk mengatasi permasalahan keadaan darurat covid-19. Pemerintah kemudian menerbitkan Peraturan Pemerintah Pengganti Undang-Undang Nomor 1 Tahun 2020 (yang sudah disahkan menjadi Undang-Undang Nomor 2 Tahun 2020) untuk mengatasi keadaan darurat tersebut. Penelitian ini merupakan penelitian yuridis-normatif dengan metode analisis kualitatif. Rumusan masalah penelitian ini mengenai alasan perubahan APBN dengan mekanisme di dalam Perppu 1/2020 dan mekanisme perubahan APBN yang diatur di dalam UU 2/2020. Simpulan dari penelitian ini adalah tidak adanya kapasitas yang memadai dari Dewan Perwakilan Rakyat (DPR) untuk melakukan perubahan APBN dengan cepat dan tanggap seperti yang dilakukan Parlemen negara lain, selain itu, memang terdapat hukum yang tidak memadai di dalam sistem hukum APBN Indonesia sehingga memerlukan Perppu untuk mengubah hukum yang sudah ada. Mekanisme perubahan APBN dengan Peraturan Presiden pun sudah tepat dilakukan di masa darurat tanpa menghilangkan hak budget DPR. Saran dari penelitian ini adalah agar Pemerintah dan DPR menyusun Undang-Undang Keuangan Negara Darurat yang mengatur fleksibilitas dari perubahan APBN, jangka waktu perubahan kebijakan dan mekanisme untuk kembali ke kondisi normal.

 

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The Covid-19 pandemic has put Indonesia in a state of emergency due to the economic and health crisis. Changes in the state budget were also used as one way to overcome the problem of the Covid-19 emergency. The government then issued Emergency Decree (ED) Number 1 of 2020 (which was ratified as Law Number 2 of 2020) to overcome this emergency. This research is a juridical-normative research with a qualitative analysis method. The formulation of problems related to the reasons for the revision of the state budget with the mechanisms in ED 1/2020 and the state budget amendment mechanism regulated in Law 2/2020. The conclusion of this research is that there is no sufficient capacity of the parliament to make changes to the state budget quickly and responsively as has been done by Parliaments of other countries, besides that, there is indeed an inadequate law in the legal system of the Indonesian State Budget so that it requires ED to change existing laws. The mechanism for revising the state budget by Presidential Regulation is already appropriate in an emergency without eliminating the parliament's budgetary rights. The suggestion from this research is that the Government and the Parliament should draft an Emergency State Finance Law which regulates the flexibility of state budget changes, the time frame for policy changes and the mechanism for returning to normal conditions.

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"Pasal 24 Undang-Undang Dasar Negara Republik Indonesia (UUD 1945) yang telah mengalami perubahan menyebutkan bahwa kekuasaan kehakiman di Republik Indonesia adalah ?kekuasaan kehakiman yang merdeka?. Hakim disini memegang peran sentral dalam peradilan sebagai personifikasi dari peradilan, sehingga kedudukan hakim dan kemerdekaan hakim harus dijamin dalam sebuah undang-undang (UU). Saat ini, kekuasaan kehakiman diatur dalam UU No. 48 Tahun 2009 tentang Kekuasaan Kehakiman, oleh karena itu tujuan utama dari penulisan skripsi ini adalah untuk menganalisis materi UU No. 48 Tahun 2009 dalam melindungi kemerdekaan hakim di Republik Indonesia berdasarkan prinsip-prinsip kekuasaan kehakiman yang terdapat pada UUD 1945 dan instrumen-instrumen internasional. Penelitian ini merupakan penelitian normatif yang dilengkapi dengan pendekatan sejarah, perbandingan dengan negara lain dan pendekatan kasus. Hasil penelitian ini menunjukkan bahwa UU No. 48 Tahun 2009 telah memiliki norma-norma yang mengatur kemerdekaan hakim, namun tetap masih terdapat kekurangan dan ketidaklengkapan dari materi UU No. 48 Tahun 2009 dalam melindungi kemerdekaan hakim, sehingga perlu diadakan perbaikan terhadap UU No. 48 Tahun 2009.

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Article 24 of The 1945 Amended Constitution of Republic of Indonesia stated that "The judicial power branch shall be independent". In here, judge has a central role on the judiciary, that judge as the personification of judiciary, therefore judge's status and independence shall be secured by law. Now, the judicial power is regulated on Act No. 48 Year 2009 (The Judical Power Act), so then the purpose of this writing is to analyze the substance of Act No. 48 Year 2009 in accomodating judge's independence in the Republic of Indonesia based on the judicial principles on the 1945 Constitution and international instruments. This is a normative study and also be improved by historical approach, comparative approach and case study method. The result of this study showed that the Act of No. 48 Year 2009 has contained the general norms to protect judge?s independence, but still has to be revised because of its material incompleteness in order to protect judge's independence."

"Penelitian ini bertujuan untuk melihat pengaruh pandemi COVID-19 terhadap spread harga saham perusahaan konstruksi di Indonesia dengan periode tahun 2020 – 2021. Penelitian ini menggunakan sampel yang berasal dari 29 perusahaan konstruksi yang terdaftar pada Bursa Efek Indonesia dalam kurun waktu 2020 – 2021. Jenis data pada penelitian ini adalah unbalanced panel data yang diolah menggunakan regresi panel data fixed effect model. Ukuran spread harga saham yang digunakan adalah pengukuran bid- ask spread. Dari penelitian ini dihasilkan temuan bahwa tidak terdapat pengaruh pertumbuhan angka kasus dan kematian COVID-19 terhadap spread harga saham perusahaan konstruksi di Indonesia pada periode tahun 2020 – 2021.

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This study aims to examine the effect of the COVID-19 pandemic on the stock price spread of construction companies in Indonesia for the period 2020 – 2021. This study uses samples from 29 construction companies listed on the Indonesia Stock Exchange in the period 2020 – 2021. Types of data in this study, unbalanced panel data was processed using fixed effect panel data regression model. The measure of the share price spread used is the measurement of the bid-ask spread. From this study, it was found that there was no effect of the growth in the number of cases and deaths of COVID-19 on the share price spread of construction companies in Indonesia in the period 2020-2021."