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  Micro, Small and Medium Enterprises (MSMEs) are of vital importance to the socio-economic growth of a country. In Indonesia, MSME sector also contribute significantly to employment and income generation. According to the data of Indonesian Ministry of Cooperative and SME, MSMEs in Indonesia contribute almost 58 percent of real GDP in 2012. MSMEs account for more than 97 percent of total employment in 2012. Despite the high contribution to employment generation, many MSMEs face difficulties to grow and expand their business to become big enterprises. more »
C The Survey on Consumer Protection:
"The Impact of Implementation of the Financial Services Authority (OJK) Regulation toward the Financial Literacy and Financial Inclusion"
  In recent years, there had been a significant increase in the development of complex financial products. The financial instruments were becoming more sophisticated. The development should be followed by the increasing concern about consumer protection in the financial services sector. The Financial Services Authority (OJK) as an independent institution that is responsible in controlling the activities of financial sectors in Indonesia is the institution that functions to regulate the consumer protection in financial services sector in Indonesia. more »
  Financial inclusion is defined as a process that ensures the ease of access, availability and usage of the formal financial services for all members of an economy (Sarma, 2008). According to Global Findex data (2015), Indonesia has a low financial inclusion rate, that is 20-39 percent. In terms of savings ownership, the data of Household`s Balance Sheet Survey (Survei Neraca Rumah Tangga/SNRT) 2011 by Bank Indonesia showed that 43.57 percent of Indonesian households had savings at banks. Indonesian households also had low access for loans, where there was only 19.58 percent of Indonesian households who had loan from banks (Bank Indonesia, 2011). more »
C The Effectiveness of Transaction Tariff Determination for the User of Payment System Services
  Effectiveness and continuity of the economy in a country is highly influenced by the payment system in the related country. Payment system is a system that consists of sets of rules, institutions, and mechanisms to transfer fund in order to fulfill obligations emerging from economic activities. The component of the payment system consists of payment tools; clearing mechanism up to settlement mechanism, and institutions involved in payment system activities. Institutions in this case not only bank but also non-bank financial institutions, non-bank institutions that provide fund transfer services, switching institutions, and central bank. more »
C Baseline and Comprehensive Survey for Individual and Households
  The availability of access to formal financial institutions will be able to serve as the catalyst for economic empowerment and improve the household asset ownerships. However, the Global Financial Inclusion Index shows that only 50 percent of adult population that have individual or joint financial account and more than 1.5 billion of adult population do not have formal account and access to basic financial products. The results of Household Balance Sheet Survey 2011 conducted by Bank Indonesia also show similar conclusion for the case of Indonesia. Only 43.47 percent of the surveyed households have saving account in bank. Moreover, the numbers of households that have loan from banks are very low, reaching only 19.58 of the surveyed households. more »
C Financial Literacy and Financial Utility
  The effort of improving financial literacy used to mainly conducted in developed countries. However, developing countries currently also start to focus their development policy in improving financial literacy and provision of broader financial access. One of the reasons for this development is the increasing understanding that low financial knowledge will not only have implications on the individual, but also on the economy as a whole. Increasing financial literacy will support a more stable financial system and will also encourage prudent behavior that will lead to lower financial fragility. more »
C Financing and Other Means of Implementation in the Post-2015 Context - Indonesia's Country Illustration
  The European Report on Development (ERD) is an influential and independent report that is published since 2009. It aims to stimulate debate and research on topics of major relevance for development and to enhance the European perspective in international development. The 5th European Report on Development (ERD 2015) has the theme of �Combining finance and appropriate policies to enable a transformative post-2015 development agenda�. It aims to address financing and other means of implementation in the post-2015 context in order to bring the post-2015 finance and goal setting processes together. The report will provide an overview of development finance needs and supply, and the impact other means of implementation can have on the availability and effectiveness of finance. more »
C Baseline Survey on Household Micro, Small and Medium Enterprises Investment Portfolio - An Effort to Improve Participation in Using Financial Services
  One of the characteristics of Indonesian economy is the significant role of the informal sector which mainly micro, small, and medium enterprises (MSMEs). MSMEs in Indonesia contribute 57.9 percent of the Indonesian Gross Domestic Product (GDP) and absorb 97.2 percent of labor force. However, most of the MSMEs do not have sufficient financial access. The financial and investment products that are owned by MSMEs in general are traditional financial and investment services. more »
C A Survey on Members of Saving and Loan Cooperative
  According to BPS (2013), there are 55.8 million small and medium enterprises (SMEs) in Indonesia. However, nowadays SMEs are still difficult to develop with lack of funding as the main reason. Most of SMEs funding come from financial institutions. To grow faster, SMEs need to obtain bigger access to financial institutions. more »
C Index of Financial Inclusion: Improvements, Developments, and Simulations -2014
  Financial inclusion is one the important factor to enable a sustainable economic growth. Low financial inclusion indicates low people' participation in formal financial activity. Increase in the level of financial inclusion will improve the financial efficiency through the increase of formal financial services. This will lead to the increase of the society in conducting economic activities and to contribute in economic growth. more »
d Developing Indonesian Financial Literacy Index
  The evidence reveals that the level of access to finance in Indonesia is still quite low. This can be observed in terms of the level of access of Indonesian households to savings and debts at the banks. The result of Bank Indonesia's Household Balance Sheet Survey (HBSS) 2011 shows that the number of Indonesian households that possess saving accounts at the banks in 2011 was only 43.57 percent, whereas the number of households that can access debts from the banks in 2011 was only 19.58 percent. As alternatives, a high number of Indonesian households borrow from the non-bank financial institutions (such as cooperatives and micro finances) and non-financial institutions (such as rotating savings and credit association (RoSCA), families, friends, and neighbors, money lenders, etc).more »
d Business Cycle Model: Coincident Economic Indicator and Leading Economic Indicator
  Macroeconomic stability and banking soundness are inexorably linked. The instability in the macro-economy is associated with the instability in banking and financial markets and the instability in these sectors is associated with the instability in the macro-economy. On a survey of 53 industrial and developing countries conducted in 1998, the International Monetary Fund (IMF) identified 54 banking crises between 1975 and 1997. These crises were accompanied by downturns (recessions) in the macro-economy of 82 percent of sample, slightly more often in emerging economies than in industrial economies. The empirical evidence for most countries suggests that the instability generally starts in the macro-economy and spills over into the banking sector. The resulting banking sector instability, in turn, feeds back and aggravates the macro instability. more »
d Construction of Banking Pressure Index Model
  Stability of the financial sector is an important aspect for economic growth and stability. If the financial sector is well functioned, the financial sector, which the banking sector is one of its components, will be able to channel the funds from the surplus side to those that need the funds for productive activities. The disruption of the banking system will have a significant impact and be able to also disrupt the overall economic activities. more »
d Determinants of the Household Liquidity Requirement in Indonesia: an Empirical Study with Data from the Household Balance Sheet Survey

The level of liquidity in an economy affects macroeconomic and financial stability. Excessive liquidity can trigger increasing inflation, while a very low level of liquidity leaves the economy vulnerable to shocks. A variety of activities across a range of sectors affects the overall level of liquidity, including real sector activities (corporate and household) and government activities.
This research has two main objectives.
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d Markov Switching Application
  Strong research and testing methods are the backbone of DEFINIT and we strives to provide research-based consultancies and policy recommendations to its clients. Therefore, we keep strengthening the research and analytical capacity of its researchers through various capacity building programs and internal (in-house) research practices on the most up-to-date research methods and modeling. more »
d Researches on Debt Management
  The important of debt management start to emerge when Indonesia was hit by Asian Crisis in 1997. The crisis has caused stagflation and high debt to GDP ratio for the Government of Indonesia (GoI). Government debt increased from US$55.3 billion before the crisis to US$137 billion at beginning of 2000. The debt to GDP ratio at that time was reaching 83 percent. more »

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