Optimal International Financial Cooperation: Solution To The Growing Breakdown Of Global Cooperation
Kata Kunci: pembentukan hukum perbankan Islam, politik, sejarah. Abstract: The Ratification of. Demokratisasi Politik, Budaya dan Ekonomi. (Jakarta: Paramadina. Deliarnov, Perkembangan Pemikiran Ekonomi. Jakarta: Rajawali Press.
Abstract
International Financial Cooperation today may require a more complex preparation than ever, particularly in the era of globalization. It is known that the global economy may bring about changing socio-economic, cultural, technological, and political condition of many countries, whilst the globalization itself has often surpassed domestic circumstances among nations which consequently leads to the need of providing a more advance principles of international financial cooperation. Regardless to these changing circumstances, the international financial cooperation may differ in nature which relatively depends on the types and objectives of the international institution involved. On the other sides, the literatures on international policy coordination are vast and multifaceted (there is no one size fits for all). However, there are some basic conditions that can be shared in common. Based on the study of various literatures, it is found that the challenges of international financial cooperation today may encircle not only about the readiness of the nation states, institutions, and related projects in utilizing the international financial cooperation, but it may also include other variuos aspects such as an optimal structure of cooperation agreement, a pattern of compliance with cooperation agreements, principles for cross border cooperation on crisis management, sharing rules of the costs of future interventions, and perhaps specific issues and barriers. All of these challenges and barriers certainly need coordinated actions to ensure that the optimal objectives of the international financial cooperation are achieved. Thus, these pre-requisite conditions should be embraced in the more advance guiding principles of the international financial cooperation. As such, the relevant authorities, including supervisory agencies, central banks, and finance ministries will also be able to tackle a severe stress in case of sudden financial crisis and managing them successfully.
Keywords
optimal, financial, global, cooperation, crisis, solution.
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DOI: https://doi.org/10.18196/mb.9154
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FISCAL MANAGEMENT IN INDONESIA: THE PERSPECTIVE OF POLITICAL-ECONOMY INFORMATION
Abstract
Fiscal management is an effort to formulate fiscal policies to be implemented, controlled, and responsible based on the government regulation. For this purpose, fiscal authority undoubtedly needs an adequate support from the country’s financial information. The provision of information for the sake of this fiscal management cannot only be seen as an issue of economic-information which tends to emphasize on the process of information allocation, production, distribution, and consumption as an economic commodity. Using a conceptual framework of political-economy information, the information provision in the context of fiscal management is more of a constellation of various existing economic-information that should be correlated with the involved actors, and comprehensively take into account the surrounding social-political structure. By employing an interpretive policy analysis as the data analysis approach, this study finds that fiscal authority in Indonesia has gradually made a number of efforts to improve the mechanism of the nation’s financial information provision for those who have fiscal management interests, either from income information (tax/non-tax) or expenditure information. In some conditions, it is identified that the initiative of information provision for the advantage of fiscal management as well as its implementation requires proper political support.
Keywords
Fiscal Management, Political-Economy Information, Interpretive Policy Analysis
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DOI: http://dx.doi.org/10.21776/ub.jiae.2016.006.01.6
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