Authors:
- Argues that the emergence of the Indonesian FSA has resulted in domestic implementation gaps
- Highlights how the ‘independent and free’ status of the Indonesian FSA has stymied financial liberalization
- Critiques and complements existing works in the regionalism literature
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Table of contents (6 chapters)
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Front Matter
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Back Matter
About this book
This book focuses on the Indonesian Financial Service Authority (FSA), which is a newly established authority within Indonesian financial services institutions that has emerged as the ultimate decision-maker for portfolio investment liberalization. In doing so, the book elaborates on how the emergence of the Indonesian FSA has resulted in implementation gaps in Indonesia, in the area of portfolio investment liberalization.
The book reveals that the endowment of an ‘independent and free’ status, as well as the FSA’s power over the Indonesian financial sector, has allowed agents in the FSA to provide different positions or responses to the already agreed ASEAN financial liberalization initiatives. Contrary to the expectations of most writers that the independent status of an institution would advance financial liberalization, this book shows that the ‘independent and free’ status of the Indonesian FSA has actually stymied financial liberalization.To achieve this, thebook employs a modified account of the historical institutionalism approach, or ‘the agents-in-context’ approach, examining how and why the Indonesian FSA has emerged as an independent authority. The insights drawn from applying a modified historical institutionalism approach to the case study of Indonesian portfolio investment liberalization critiques and complements existing works in the regionalism literature in general, and ASEAN financial integration particularly.
Keywords
- Indonesian FSA
- Indonesian Financial Service Authority
- Portfolio investment liberalization in Indonesia
- Indonesian financial sector
- Historical Institutionalism Approach
- Indonesian portfolio investment liberalization
- Asian Financial Crisis
- ASEAN portfolio investment liberalization
- Indonesian Trading Law
Authors and Affiliations
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Fiscal Policy Agency, Ministry of Finance of the Republic of Indonesia, Jakarta, Indonesia
Chandra Kusuma
About the author
Chandra Kusuma is a senior official for the government at the Fiscal Policy Agency of the Ministry of Finance of the Republic of Indonesia (MOF), serving the Ministry since 2004. He is also a Sessional Lecturer at the Indonesian State College of Accountancy (PKN-STAN) teaching courses on Banks and Financial Institutions, as well as Macroeconomics. He holds a Ph.D. in International Political Economy from the University of Queensland, Australia.
Bibliographic Information
Book Title: The Rise of the Indonesian Financial Service Authority
Book Subtitle: Domestic Implementation Gaps in Portfolio Investment Liberalization
Authors: Chandra Kusuma
DOI: https://doi.org/10.1007/978-981-19-3850-4
Publisher: Palgrave Macmillan Singapore
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2022
Hardcover ISBN: 978-981-19-3849-8Published: 18 August 2022
Softcover ISBN: 978-981-19-3852-8Published: 19 August 2023
eBook ISBN: 978-981-19-3850-4Published: 17 August 2022
Edition Number: 1
Number of Pages: XV, 186
Number of Illustrations: 2 b/w illustrations, 10 illustrations in colour
Topics: International Finance, Political Economy/Economic Systems, International Relations, Financial Accounting