Sustainable economic growth has put Indonesia as a middle-income country （MIC） and currently, the level of per capita income has already exceeded US$3,000. The increase in income per capita is followed by the increa...Sustainable economic growth has put Indonesia as a middle-income country （MIC） and currently, the level of per capita income has already exceeded US$3,000. The increase in income per capita is followed by the increasing number of middle-class population and the reduction in poverty. However, it has not been accompanied by declining inequality that reflects the quality of economic growth. According to Kuznets theory, an increase in inequality is a common problem in the process of economic growth. Inequality will further decline after the country has reached a certain threshold level of income. This study aims to analyze the trend and nature of income inequality in Indonesia and to test whether the Kuznets Curve holds. This paper used dynamic panel method with 26 provincial panel data from 2000 to 2011. The empirical result proves the existence of inverted U-shaped Kuznets Curve in Indonesia and it may have the turning points when the real GDP per capita in each province reached Rp. 179.41 million/year or around US$17.000. For the determinant of inequality in Indonesia, this study found that the percentage of urban population, inflation, and share of agricultural sector contributed to the increase of inequality, while high-level education and share of industrial sector are associated with the lower level of inequality.展开更多
Faced with a persistent pandemic,investors are concerned about portfolio diversification.While the literature on COVID-19 has evolved impressively,limited work remains on diversification opportunities.We contribute to...Faced with a persistent pandemic,investors are concerned about portfolio diversification.While the literature on COVID-19 has evolved impressively,limited work remains on diversification opportunities.We contribute to the literature by exploring the volatility and co-movement of different sovereign debt instruments,including green sukuk,sukuk,bond and Islamic and conventional equity indices for Indonesia.Our results consistently point towards increased asset co-movement and weak profitability during the pandemic.Interestingly,sukuk and green sukuk have a 14%correlation with stocks,suggesting potential diversification prospects in times of extreme shocks.展开更多
This study aims to obtain empirical evidence about the effect on the activity of earnings management practices of Corporate Social Responsibility （CSR）, and further examine the impact of these relationships （earnin...This study aims to obtain empirical evidence about the effect on the activity of earnings management practices of Corporate Social Responsibility （CSR）, and further examine the impact of these relationships （earnings management and CSR） effect on the financial performance of companies in the future. Samples used in this study were 27 companies listed in Indonesia Stock Exchange during the years 2006-2008. Data collected by puposive sampling method and statistical method used is ordinary least square regression. The study provides empirical evidence that companies that engage in the practice of earnings management have no influence on CSR activities. In addition, the second hypothesis, based CSR explained that the activities associated with earnings management practices negatively affect the company＇s financial performance in the future.展开更多
We use a highly disaggregated panel of macro data and minimum wages at the county level to investigate the processes behind minimum wage adjustments in China.Relying on random effects models,spatial econometrics techn...We use a highly disaggregated panel of macro data and minimum wages at the county level to investigate the processes behind minimum wage adjustments in China.Relying on random effects models,spatial econometrics techniques,and multilevel analyses,we document that a comparatively small number of economic variables-including the local price level and GDP per capita-are important determinants of minimum wage rates.Interactions between adjacent counties and counties of the same administrative type,and centralized mechanisms,particularly at the provincial level,also play an important role in explaining the variance in minimum wage rates across counties.Finally,we show that China's provinces are the key players for setting minimum wage rates and that,when they do so,they are not uniform in the way they weigh different economic variables.展开更多
文摘Sustainable economic growth has put Indonesia as a middle-income country （MIC） and currently, the level of per capita income has already exceeded US$3,000. The increase in income per capita is followed by the increasing number of middle-class population and the reduction in poverty. However, it has not been accompanied by declining inequality that reflects the quality of economic growth. According to Kuznets theory, an increase in inequality is a common problem in the process of economic growth. Inequality will further decline after the country has reached a certain threshold level of income. This study aims to analyze the trend and nature of income inequality in Indonesia and to test whether the Kuznets Curve holds. This paper used dynamic panel method with 26 provincial panel data from 2000 to 2011. The empirical result proves the existence of inverted U-shaped Kuznets Curve in Indonesia and it may have the turning points when the real GDP per capita in each province reached Rp. 179.41 million/year or around US$17.000. For the determinant of inequality in Indonesia, this study found that the percentage of urban population, inflation, and share of agricultural sector contributed to the increase of inequality, while high-level education and share of industrial sector are associated with the lower level of inequality.
文摘Faced with a persistent pandemic,investors are concerned about portfolio diversification.While the literature on COVID-19 has evolved impressively,limited work remains on diversification opportunities.We contribute to the literature by exploring the volatility and co-movement of different sovereign debt instruments,including green sukuk,sukuk,bond and Islamic and conventional equity indices for Indonesia.Our results consistently point towards increased asset co-movement and weak profitability during the pandemic.Interestingly,sukuk and green sukuk have a 14%correlation with stocks,suggesting potential diversification prospects in times of extreme shocks.
文摘This study aims to obtain empirical evidence about the effect on the activity of earnings management practices of Corporate Social Responsibility （CSR）, and further examine the impact of these relationships （earnings management and CSR） effect on the financial performance of companies in the future. Samples used in this study were 27 companies listed in Indonesia Stock Exchange during the years 2006-2008. Data collected by puposive sampling method and statistical method used is ordinary least square regression. The study provides empirical evidence that companies that engage in the practice of earnings management have no influence on CSR activities. In addition, the second hypothesis, based CSR explained that the activities associated with earnings management practices negatively affect the company＇s financial performance in the future.
基金Findings,interpretations,and conclusions expressed in this paper are those of the authors and do not necessarily represent the views of the Nordic Trust Fund,the World Bank,its affiliated organizations,its executive directors,or the governments these represent.'For China,studies that explore the effects of minimum wages on wages,employment,and other outcome variables include those by Huang et al.(2014),Lin and Yun(2016),and Demurger et al.(2021).
文摘We use a highly disaggregated panel of macro data and minimum wages at the county level to investigate the processes behind minimum wage adjustments in China.Relying on random effects models,spatial econometrics techniques,and multilevel analyses,we document that a comparatively small number of economic variables-including the local price level and GDP per capita-are important determinants of minimum wage rates.Interactions between adjacent counties and counties of the same administrative type,and centralized mechanisms,particularly at the provincial level,also play an important role in explaining the variance in minimum wage rates across counties.Finally,we show that China's provinces are the key players for setting minimum wage rates and that,when they do so,they are not uniform in the way they weigh different economic variables.
