Economic policy

This paper examines the empirical relationship between long-run growth and financial development, proxied by the ratio between bank credit to the private sector and GDP. We find that this proxy is positively correlated with growth in a large cross-country sample, but its impact changes across countries, and is negative in a panel data for Latin America. We argue that the latter findings is the result of financial liberalization in a poor regulatory environment. Gur tindings also show that the main channel of transmission from financial development to growth is the efficiency, rather than the volume, of investment.

In this paper we report the main stylized facts of the business cycle for the Peruvian Economy. This study is important for the development of economic models, which are useful to evaluate the impact of different economic policies. Moreover, for those models to have ...

This paper examines the way the metaphor of diversity provides a moral basis for inequality in Singapore’s meritocratic education system. Based upon a collection of policy texts from 2002 to 2012, our analysis illustrates that the metaphor of diversity in policy texts provides ways for systemic discrimination within the education system and that this inequality is given legitimacy as necessary through various moral discourses. The paper employs a critical discourse analysis that draws upon the relationship between language analysis, the philosophical study of valuation, and political economy as a composite formulation of values to highlight the ways in which an argument for inequality permeates policy from within a frame of meritocracy, and to analyse how changes associated with new modes of value determination serve to legitimize inequality.

1. The article questions and challenges the official meritocratic principle of ‘equal opportunities’ (Wong, 2000) in Singapore's education system. Drawing on Foucault's and Nietzsche's philosophical perspectives, there is an explicit illustration through an in-depth analysis of how inequality is inbuilt in policy report/speech.

2. Discourse builds in/tangible structures in society and greatly determines the possibilities of the now. As such, I am also arguing that it would be more difficult to 'help' any 'community' if the structural discrimination which has been deeply embedded, is not made explicit through national policies, and by this I mean an explicit illustration through an in-depth policy analysis of how inequality is inbuilt in Singapore's education policies. It may be through this that discriminatory structures could be substantially challenged.

An initial analysis of the original 1979 policy on primary school streaming which I conducted illustrates how dichotomous (arbitrary) categorization of pupils, i.e. 'slow' and 'fast' learners legitimates and sustains increasing institutional/structural access (over the years terms like 'talents' have been employed in policy discourse), of who gets privileged knowledge access. Through this, I also ask then to what ends do forms of 'categorization' or conventional designation entail? By this, given that categorization legitimizes structural access, my question is, what is 'Malay/Muslim community' and how is this categorization necessary?

3. Even though the analysis in the article was based on Singapore's education system, it provides possible ways of understanding how inequality is continuously being inbuilt through policies on the basis of the ideology that economic growth is the (only) way forward. A way to critique this ideology is to expose its underlying assumptions. I believe the findings have much resonance with the widening inequality across many developed nations, as Singapore's policies have parallels with that of the U.K., U.S., and international organizations such as the World Bank.

4. Economically considered, the transliteration of meritocratic discourse into the metaphor of diversity pinpoints how the appeal of development for all necessarily also demands the advance of inequity for the sake of the whole, i.e. advancing the 'growth with inequity' principle.

5. The analysis highlights that value judgments are continually at work in the policy discourse and that despite the strong discourse of meritocracy that the Singapore education system promotes, it is argued that it is in the interests of the Singapore people that 'talents' should get privileged access to knowledge as it is through this that more 'opportunities' for the rest of the population are created. The findings demonstrate that although the underlying assumptions of this 'logic' that has been constructed in policies are unsubstantiated, the logic is continuously legitimated through forms of e/valuations.



This article has been featured in websites such as: http://www.sciencedaily.com/releases/2015/04/150428105815.htm
http://www.eurasiareview.com/28042015-what-is-value-of-inequality-within-singapores-education-system/

This paper presents detailed methods for constructing a flexible philosophical–analytical model through which to apply the analytic principles of CDA for the interpretation of metaphors across policy texts. Drawing on a theoretical framing from Foucault and the augmentation of Nietzsche’s views on valuation, we sketch a framework for examining ways in which evaluative semantic categories can be linked to sociological theories in order to bring out their relevance for the purpose of critical discourse analysis. This multi-level research framework draws upon a relationship between language analysis, the philosophical study of valuation, and political economy as a composite formulation of values through which neo-liberalism is discursively entwined and progressed through a system of principles of e/valuation.

This paper provides a broad overview of the relationship between infrastructure and growth, focusing on the South African case. The paper develops an intuitive theoretical framework in which to analyse this relationship, identifying …ve speci…c channels through which infrastructure may e¤ect growth: as a factor of production, a complement to other factors of production, a stimulus to factor accumulation, a stimulus to aggregate demand and a tool of industrial policy. A framework is developed for evaluating empirical analyses of this relationship, which explores the implications of di¤erent de…nitions and measures of infrastructure and of potential data and estimation challenges. The empirical literature on South Africa is then assessed against this framework.

Income inequality has become one of the more widely debated social issues today. The current article explores the role of progressive taxation in income inequality and happiness. Using historical data in the United States from 1962 to 2014, we found that income inequality was substantially smaller in years when the income tax was more progressive (i.e., a higher tax rate for higher income brackets), even when controlling for variables like stock market performance and unemployment rate. Time lag analyses further showed that higher progres- sive taxation predicted increasingly lower income inequality up to 5 years later. Data from the General Social Survey (1972–2014; N  59,599) with U.S. residents (hereafter referred to as “Americans”) showed that during years with higher progressive taxation rates, less wealthy Americans—those in the lowest 40% of the income distribution—tended to be happier, whereas the richest 20% were not significantly less happy. Mediational analyses confirmed that the association of progressive taxation with the happiness of less wealthy Americans can be explained by lower income inequality in years with higher progressive taxation. A separate sample of Americans polled online (N  373) correctly predicted the positive association between progres- sive taxation and the happiness of poorer Americans but incorrectly expected a strong negative association between progressive taxation and the happiness of richer Americans.

"Corruption has become one of the most popular topics in the social scientific disciplines. However, there is a lack of interdisciplinary communication about corruption. Models developed by different
academic disciplines are often isolated from each other. The purpose of this paper is to review several major approaches to corruption and draw them closer to each other. Most studies of corruption fall
into three major categories: (i) rational-actor models where corruption is viewed as resulting from cost/benefit analysis of individual actors; (ii) structural models that focus on external forces that determine corruption; and (iii) relational models that emphasize social interactions and networks among corrupt actors. Focusing on actors’ behavior and the social context, this article explains corruption concepts taken from sociology, economics, organization studies, political science, social anthropology, and social psychology."

Published a year on from the government’s industrial strategy white paper, and with Brexit now less than six months away, What We Really Mean When We Talk About Industrial Strategy features expert authors on a wide range of subjects connected to industrial policy.

Edited by Craig Berry, key issues covered include:
--The sources of the UK’s ‘productivity puzzle’. The book suggests that larger firms – not the ‘long tail’ of small firms – have greatest responsibility for the productivity slowdown, and that this is connected to corporate governance practices.
--The difficult balance between nurturing 4.0 and sustaining employment. The book suggests that holding back the tide of automation is probably futile, and would further damage the UK economy, but much more must be done to prepare the UK workforce for new forms of employment.
--The importance of low-value or foundational industries. The book suggests that many of the UK’s economic problems are located in the less glamorous industries such as retail and hospitality, and those dependent on public expenditure.
--The prospects of local industrial strategy. The book suggests that the British state is structurally biased against supporting local economic development. The move to city-led industrial policy may be a step in the right direction, but a decentralisation of economic powers and resources is necessary.
--The gendered nature of the UK’s economic problems. The book suggests that industrial strategy should focus far more on female-dominated industries such as care. Craig Berry’s concluding chapter argues that a chronic gender pay gap indicates the UK’s failure to capitalise on the economy’s inherent strengths.

The book is published by Manchester Metropolitan University with the support of the British Academy. It builds upon Craig Berry’s work as part of the Industrial Strategy Commission.

Scorrendo l'indice di questo libro, sulle prime verrebbe da dire che siamo dinanzi a tre libri in uno, ovvero a una platea di argomenti oltremodo ampia. La globalizzazione e il fallimento, nel settembre 2003, della conferenza di Cancun promossa dall'Organizzazione Mondiale per il Commercio; il declino dell'Europa e la storia del trattato di Maastricht; la politica industriale italiana, la riforma del sistema pensionistico e le lotte dei lavoratori di Melfi nella primavera 2004: i temi affrontati nelle pagine che seguono sono davvero numerosi quanto in apparenza eterogenei.

This article presents an analysis of the challenges to sustainable tourism development in developing countries with special references to Turkey as a part of the developing world. It was found that the factors that have emerged as challenges to sustainable tourism development related to priorities of national economic policy, the structure of public administration, an emergence of environmental issues, over commercialisation, and the structure of international tourism system. It concludes that although the principles of sustainable tourism development are beneficial, their implementation is an enormously difficult task to achieve and owing to the prevailing socio-economic and political conditions in the developing world. Hence, any operation of principles of sustainable tourism development necessitates hard political and economic choices, and decisions based upon complex socio-economic and environmental trade-offs. Moreover, it states that implementation of these hard decisions may not be possible unless international organisations encourage and collaborate with governments of developing countries to implement the principles of sustainable tourism development.

This paper presents a taxonomy and content analysis of research in port economics, policy and management ('port studies'). There is a growing interest in the study of ports, yet the research characteristics and directions of this research field are unidentified. This paper provides a systematic analysis of port studies published the period 1997--2008. Based on a cross--citation analysis and content survey, seven themes of port studies are identified The content of each theme is analysed by focusing on research topics, widely used research questions, concepts and research methods, and the most important research findings. Finally, we identify emerging research questions that still need to be answered. In pair with Pallis et al , this study provides a complete and detailed analysis of port related published research during the period 1997--2008.

Without questioning the fact that to achieve efficiency emitters should pay for the true costs of their actions (a core principle of economic policies such as pollution taxes), we find sufficient evidence in the literature to demonstrate that many other policy instruments can be used in combination with taxes and permits to ensure that the transport needs of the present generation can be met without compromising the ability of future generations to meet any needs of their own.

Dalam penyusunannya, kami memperoleh banyak bantuan dari berbagai pihak, karena itu kami mengucapkan terima kasih yang sebesar-besarnya kepada kedua orang tua dan segenap keluarga yang telah memberikan dukungan, kasih, dan kepercayaan yang begitu besar.

Este documento analiza los canales de transmisión económica del COVID-19 en América Latina, los principales mitigantes con los que cuenta la región y las políticas económicas implementadas hasta la fecha. El impacto económico del COVID-19 en América Latina será considerable debido a la caída en las exportaciones, la fuga de capitales, el desplome del turismo, el colapso de las remesas y la contracción económica y el desempleo causados por las restricciones impuestas para controlar la pandemia. Lo complicado de esta crisis, aunque la región está acostumbrada a enfrentarse a choques externos, radica sin embargo en el hecho de que esta es la primera vez que tiene que hacerlo ante tantos retos de manera simultánea. Algunos mitigantes son: contar con una población relativamente joven, estar menos conectada internacionalmente que Europa y EEUU, haber tomado medidas de contención relativamente rápidas y estrictas, los aprendizajes de cómo gestionar choques económicos externos y sanitarios a lo largo de las últimas décadas, tomar medidas para proteger a familias y pymes utilizando los programas sociales ya existentes, y la recuperación de China, que aumentará la demanda de recursos naturales y sus precios. Si bien el impacto inmediato es considerable, la recuperación podría ser acelerada.

This paper highlights the factors that influence the decision of married women (in the age group of 16-60 years) to participate in labor force activities. Employing the probit model on 3911 observations it is found that women's age, women as head of the household, women's education, household poverty, family size, number of girls (5-15 years), number of daughters over 15 years of age, husband's unemployment and low income, and rural locality have a significant positive effect on labor force participation of married women. On the other hand, ownership of assets by the household, household per capita income, being a nuclear family, number of infants, number of sons over 15 years of age, and husband's education have shown a negative effect. Poverty in an overall perspective is found to be the major determinant of the labor force participation of married women.

Access to the international bond market is a novelty for African countries, the number of African countries which access to this market continues to grow over time. By the 28thDecember 2013, there were about 12 countries in the region that have had access to that market. Knowing that the international economic environment and regional context were favorable to the access of emerging and developing countries in international bond markets, most of these countries have chosen to issue international bonds for at least one of the three following objectives: Find funding for local infrastructure projects, make an issue that can serve as a benchmark for potential future public and private issues and issue to restructure maturing debt that cannot be honored. The consequences of these issues have been rather favorable for most of these countries which have largely achieved the desired funding and have known for some improved fiscal discipline and in some cases, an apparition of decentralized local authorities and some private companies in these markets.
The State of Cameroon is one of sub-Saharan African countries that have not yet acceded to this market. Thus, based on the experience of sub-Saharan Africa, the Cameroonian government should integrate international bond issues as a potential means of funding. It should in addition take advantage of the national economic context and of the international economic environment to make access to that market. However, an analysis based on costs and risks must first be carried out in comparison with other means of financing by taking into account the strategic and operational considerations including the choice of characteristics, the legal environment, advisers and the lead manager.

La finance islamique appartient à un concept plus large, l'économie islamique, une doctrine économique, qui, comme toutes les autres doctrines (capitalisme, communisme, socialisme), diffère par son propre système de valeurs. C'est ce système de valeurs, universelles à la fin, qui fait la particularité de la finance islamique. En effet, outre la nécessité de répondre aux exigences et aux contraintes réglementaires exigées par les lois en vigueur (lois bancaires, sécurité financière, lois sur les sûretés…), les institutions financières islamiques sont tenues de se conformer à des exigences et à des règles qui trouvent leurs origines dans la loi musulmane ou charia. Ainsi, la finance islamique est, avant tout, une finance éthique, qui privilégie un système de valeurs bâti sur la nécessité d'éviter ce qui est interdit, sur un équilibre entre l'intérêt personnel et l'intérêt public, mais aussi sur les valeurs de l'équité, la transparence, la sincérité… Ces valeurs sont d'une importance capitale et doivent se refléter obligatoirement dans les actes et les transactions.

The relentless process of the robotization in the new context of Industry 4.0 is already bringing about deep transformations in welfare democracies. This fourth information and technological revolution driven by the generalization of internet and automation is intensifying new applications of artificial intelligence. Eventually, the ongoing robotization will make the need for a large part of human paid work superfluous. What will be the coexistence between robots and humans? Everything seems to indicate that the transition towards a full robotization of economic activities capable of incorporating efficient automation processes will be gradual but accelerated. It will follow the paramount criteria of maximizing profitability in the present configuration of global capitalism.

Using bank level data for 80 countries in the 1988-1995 period, this paper shows that differences in interest margins and bank profitability reflect a variety of determinants: bank characteristics, macroeconomic conditions, explicit and implicit bank taxation, deposit insurance regulation, overall financial structure, and several underlying legal and institutional indicators. Controlling for differences in bank activity, leverage, and the macroeconomic environment, we find that a larger bank asset to GDP ratio and a lower market concentration ratio lead to lower margins and profits. Foreign banks have higher margins and profits compared to domestic banks in developing countries, while the opposite holds in developed countries. Also, there is evidence that the corporate tax burden is fully passed on to bank customers.

There has been a growing concern about the impact of economic policies on agriculture, especially among developing countries. This is primarily because these policies - including pricing, taxation and trade policies - directly and indirectly affect the profitability and level of properity in the agriculture sector. It is with this in mind that the Kiel Institute of World Economics has

The World Bank's conceptual framework to assess pension systems and reform options evaluates initial conditions and the capacity to improve the enabling environment, then focuses on how best to work within these to achieve the core objectives of pension systems--protection against the risk of poverty in old age and smoothing consumption from one's work life into retirement. The Bank applies a multi-pillared approach towards pension system modalities to address the needs of target populations including: (i) a non-contributory "zero pillar" extending some level of old-age income security to all of the elderly; (ii) an appropriately sized mandatory "first pillar" with the objective of replacing some portion of lifetime pre-retirement income through contributions linked to earnings; (iii) a funded mandatory defined-contribution "second pillar" that typically provides privately-managed individual savings accounts; (iv) a funded voluntary "third-pillar;" and (v) a non-financial "fourth pillar." The primary evaluation criteria are the ability of the system to maintain adequacy, affordability, sustainability, equity, predictability and robustness. The secondary evaluation criteria are the system's capacity to: minimize labor market distortions; contribute to savings mobilization; and contribute to financial market development. Because pension benefits are claims against future economic output, it is essential that over time pension systems contribute to growth and output to support the promised benefits. Going forward, the Bank is focusing on strengthening its support in: (a) establishing a clearer results framework to assess pension systems and reforms; (b) enhancing knowledge management, including research and learning; and (c) improving implementation capacity. JEL Classification: H55, J14, J26

This Impact Report identifies and summarises the diverse impacts, resulting from the £500m of UK funding of Science and Technology in 2013, using numerous quantitative metrics and short case study extracts.  It shows how the varied impacts of a national science and technology organization and its many funded programmes can be annually identified, captured, tracked, and summarised in a public document.

The report was produced for, and by, the Science and Technology Facilities Council (STFC) -  the UK Research Council responsible for funding: (1) all UK astronomy, particle and nuclear physics research, (2) related UK science and technology facilities (e.g. as Harwell and Daresbury), (3) the UK contribution to international science (e.g. CERN, international telescopes and space missions), (4) innovation and business spin-off programmes, and (5) UK public engagement activities.

The Report was co-researched and co-authored by the STFC Impact Team, including myself while Impact Evaluation Manager in 2013, with Dr. Claire Dougan-McCallie (lead author/Head of Impact) and Jenny Beard, with additional input from senior managers, and many data and case study contributions from other key managers across STFC.

Varied key impacts are identified and reported including:

• Research amongst the best (by citation impact) in astronomy, nuclear and particle physics.
• Supported research of 226 Principal Investigators in 70 universities, led to 1,100 peer-reviewed papers in 2012.
• Facilities (the Diamond Light Source, ISIS and CLF) were used in 2012/13 by over 4,200 unique users , in over 2,400 experiments, producing over 1,000 papers in peer-reviewed journals.

• Technology from CERN benefited the UK economy by over £100 billion every year.
• Funding the development of the UK’s space, internet and computer animation industries, returned over £500 billion to the UK economy per annum.
• Funded Innovation Campuses hosted over 230 enterprises and supported over 5,000 jobs.
• UK industry won £43 million in contracts from the international subscriptions funded, and had accumulated a total of £150 million since 2005.

• Funded research inspired future generations to study STEM subjects, attracting 90% of UK undergraduates to study physics, funded 782 PhD students  and 16,800 student training days.
• Between 2009 to 2012 public engagement programmes engaged people on 58 million occasions, with 2 million people engaged in face-to-face activities in 2013 alone.

A partir de un análisis de los avances y desafíos pendientes de las mujeres en el ámbito económico a lo largo de un cuarto de siglo (1990-2015), este informe propone estrategias clave para evitar retrocesos, superar los obstáculos y avanzar en el empoderamiento económico de las mujeres en la región. Los avances registrados a lo largo de las ultimas dos décadas son indiscutibles; pero también son innegables las persistentes brechas no solamente entre mujeres y hombres, sino entre las mujeres mismas. Como muestra este informe, tanto las conquistas como los obstáculos al empoderamiento económico de las mujeres reflejan las profundas desigualdades socioeconómicas características de esta región, las cuales se agudizan con algunas dinámicas familiares y con patrones patriarcales y violentos. Estas desigualdades —a su vez fuertemente influenciadas por las diferencias geográficas y de origen étnico— son obstáculos que deben superarse con el fin de lograr el empoderamiento económico de todas las mujeres.

This paper approaches the value added method for Gross Domestic Product (GDP) measurement that explains the interrelationship between the expenditure approach and the income approach. The economic growth model is also proposed with three key elements of capital accumulation, technological innovation, and institutional reform. Although capital accumulation and technological innovation are two integrated elements in driving economic growth, institutional reforms play a key role in creating incentives that effect the transitional and steady state growth rate in the real world economy. The paper provides a theoretical insight on economic growth to understand incentives and driving forces in economic growth model.

The capitalist state is the indispensable power of a free labor economy. Its class character is not founded on a national basis. Rather it is founded on the world market relations of capitalist wealth and includes a history of suffering. The article scrutinizes ordoliberalism as a veritable statement about the character of capitalist society and its state. In the contemporary debate about the ordoliberalization of Europe, its argument about capitalist labor economy as a practice of government is put aside and instead it is identified with a certain ‘German’ preference for austerity and seemingly also technocratic governance, undermining the European democracies and leading to calls for the resurgence of the national democratic state that governs for the many. In these accounts, illusion dominates reality. In distinction, the argument attempted here scrutinizes the role of the member states in monetary union as executive states of the bond that unites them. Monetary union strengthens the member states as ‘planners for competition’ and is entirely dependent upon their capacity to govern accordingly.

The paper analyzes the divergence of economic growth in post-communist countries along geographical lines. It examines the role of culture, manifested in the form of civil society, social capital, trust, religious and business ethics, and historical experience, in the economic growth. Multivariate regression, a path (structural equation) model, and sensitivity analysis are used to determine direct and indirect effects of culture, policy, corruption, war, initial economic conditions, and ethnicity on the economic growth in 28 post-communist countries in 1990-1998. The statistical analyses show that a cultural index, which reflects civil society strength, the proportion of Catholics and Protestants in the population and historical experience, has the strongest effect on growth, economic reform, macroeconomic stabilization policy and corruption.

This paper reports and analyses the results of a trans-European project to investigate the present and potential future links between the environmental management and management accounting functions of a company or business. A taxonomy of four broad but distinct approaches to environmental accounting is identified from the literature: external financial reporting; social accountability reporting; energy and materials accounting; and environmental management accounting. This project focuses on the latter -the generation, analysis and use of financial and related non-financial information, in order to support management within a company or business, in integrating corporate environmental and economic policies and building sustainable business. The research involved interviews with accountants' and

The relationships among competition in the financial sector, access of firms to external financing, and associated economic growth are ambiguous in theory. Moreover, measuring competition in the financial sector can be complex. In this paper we first estimate for 16 countries an industrial organization-based measure of banking system competition. We then relate this competition measure to growth of industries and find that greater competition in countries' banking systems allows financially dependent industries to grow faster. These results are robust under a variety of tests. Our results suggest that the degree of competition is an important aspect of financial sector functioning. (JEL: D4, G21, L11, L80, O16) a seminar at the University of Leicester for their comments. Furthermore, we would especially like to thank the two referees for their valuable comments. We also thank Ying Lin for his research assistance.

The development of increasingly transnationalized (‘globalized’) financial markets raises several key issues for the analysis of politics, public policy, and the national state. This article suggests that financial globalization increasingly constrains policymakers and circumscribes the policy capacity of the state. After looking briefly at a range of approaches to the process of financial globalization itself, the author suggests that technological change is the main independent variable, by reducing transaction costs and dramatically increasing the price sensitivity of financial markets across borders, while at the same time making possible a range of economies of scale. These very developments have a knock-on effect throughout the domestic and international economies. They in turn make obsolescent the political economies of scale — the governance structures — which have characterized economic policy in modern nation-states, undermining the capacity of the state to produce public goods. At the same time, globalized financial markets interact with rapidly changing interest group structures and divided state structures, especially through ‘regulatory arbitrage.’ Without the development of transnational regimes capable of regulating global financial markets, the structural basis of the national state itself is being undermined, and Polanyi's ‘Great Transformation’ is over.

Ð South Africa's leading anti-apartheid organization, the African National Congress (ANC) entered the period of transition in the early 1990s with only an impressionist economic vision. But for all its limitations it was a (state-led) program of development directed at alleviating the legacy of poverty and inequality. The ANC was forced to begin to fashion a set of modeled economic proposals around which it could at some level``negotiate'' with other organizations and social groups and contest an election. As in the case of the negotiations around a post-apartheid constitution, the economic program ultimately adopted diered signi®cantly from the organization's original vision. The new economic program was a fairly orthodox neoliberal one. The shift in economic policy, we would contend, was the result of the ANC's perception of the balance of economic and political power at both the global and local level. This article critically examines these political and economic interactions in the South Africa of the 1990s; attempts to explain the reasons underlying the shift in economic policy; and ends with some re¯ections on the ways in which the South African experience in economic policy reform either elaborates or revises existing theories of transitional societies. Ó

In order to explain growth in per capita output, an exogenous technical change is introduced into the neoclassical models. The new growth theory emerges as a critical to this explanation and considers that technical change is an endogenous result. Hence, the new theory abandons the neoclassical production function and the decreasing marginal returns to capital. The first section of this chapter explains in more detail the emergence of the endogenous growth theory. In the second and third sections, we present the theories of endogenous growth of first and second generation. In the fourth section, we analyze the main theoretic tools used by the endogenous growth models: constant or increasing returns to scale, the introduction of education, job training and human capital, the development of new technologies, innovation and institutions. Finally, the fifth section revises the economic policy implications.

Sistem Tanam Paksa merupakan kebijakan ekonomi pemerintah kolonial yang paling penting pada masa penjajahan. Dengan diterapkannya Sistem Tanam Paksa, pemerintah kolonial berhasil mengisi kembali kas negara mereka yang kosong akibat perang. Bahkan dengan keuntungan yang didapat, pemerintah kolonial dapat membangun infrastruktur dan industri di megara induk. Negara jajahan diibaratkan hanya sebagai gabus terapung, yang menopang keuangan negara induk. 1 Namun seiiring berjalannya waktu, dikarenakan tuntutan orang-orang Liberal dan Sosialis di parlemen Belanda, membuat program ini dikurangi

This is a paper written for the course ACT514M (Macroeconomic Theory) taken during Term 1, SY 2006-2007. It highlights the importance and dynamics of exchange rates and its role in macroeconomic policy formulation towards sustaining economic growth. Please do not cite. Thank you.

Un esperimento del pensiero: immaginiamo di chiedere ai docenti universitari -in Italia, in Europa e nel mondo, giovani e più anziani -quali caratteristiche sognerebbero di trovare nei propri studenti. La lista sarebbe inevitabilmente lunga e diversificata. Ma probabilmente, una percentuale molto alta delle risposte includerebbe definizioni come la curiosità intellettuale, il desiderio di sapere, il sospetto sistematico verso i dogmi, la ricerca del nuovo e possibilmente della verità, e così via. Forse troveremmo anche una seconda categoria di risposte, che suggerisce ad esempio la docilità, il rispetto, l'attitudine al duro lavoro, la prontezza… Queste risposte non dovrebbero essere sorprendenti: sono all'origine dell'idea stessa di università. Forse descrivono solo un sogno o una ambizione. Forse, se chiedessimo anche quali caratteristiche i docenti effettivamente trovano nei loro studenti il quadro sarebbe (molto?) meno idilliaco. Molto spesso lo spirito del tempo sembra proprio indicare scoraggiamento e delusione tra studenti e docenti (in entrambe le direzioni).

The purpose of this research is to explain how the Agency's creative economy policy (Bekraf) in an attempt to support the creative industries in Indonesia. Given that the creative industri in Indonesia has experienced a fairly rapid development since the establishment of Bekraf by the Central Government. Although not long ago standing in early 2015, the Agency has conducted a variety of policy associated with the development of creative economy geared for businessmen. A wide range of such policies include, namely the dissemination of policy financing for the development of creative industries, the development of creative industries, raise issues, problems, obstacles, policy formulation, dissemination of best practices and success study from another country to businessmen in the rest of Indonesia. The potential of natural resources as well as human resource is one unified whole which must be strengthened in the economic aspects of creative. So a balance has to be maintained in order for the development of creative economy based on creativity and innovation communities continue to run on an ongoing basis. The concept of the creative economy of innovation and creativity from businessmen who supported by stakeholders related such as Government, private, and other related parties who contribute to the development of the creative economy industri. So the Government's efforts can be implemented optimally effective, as well as be able to advance the economy of Indonesia for the better. Intisari Tujuan dari penelitian ini adalah untuk menjelaskan bagaimana kebijakan badan ekonomi kreatif(Bekraf) dalam upaya mendukung industri kreatif di Indonesia. Mengingat bahwa Industri kreatif di Indonesia telah mengalami perkembangan yang cukup pesat semenjak dibentuknya Bekraf oleh pemerintah pusat. Meskipun belum lama berdiri yaitu pada awal tahun 2015, badan tersebut telah melakukan berbagai kebjiakan terkait dengan pengembangan ekonomi kreatif yang ditujukan bagi para pelaku usaha. Berbagai macam kebijakan tersebut diantaranya yaitu sosialisasi kebijakan pembiayaan untuk pengembangan industri kreatif, pengembangan industri kreatif, menjaring isu, masalah, kendala, perumusan kebijakan, sosialisasi best practices and success study dari negara lain kepada pelaku usaha di seluruh Indonesia.