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"In the last 10 years, Indonesia's economy has been climbing up significantly and joined the top 20 biggest economy (G20). It is expected that by 2030, the country will be the 7th largest economy supported by what is called 'Demographic Dividend' (Mckinsey, 2012). However, in the paradoxical situation, the country's rating in human development index and inequality-adjusted human development index has been deteriorating overtime contributed by stagnant improvement of several development indicators including of access to education and adult financial literacy. This paper will focus on policy recommendation of financial literacy as part of human development capacity building to address inequality issues using the framework of 'Functional View of Public Management' developed by Barzelay and Cortazar (2004) and involving several key experiences from countries such as New Zealand, Australia, Singapore and Brazil."

"ABSTRAKUsing panel data from 42 developing countries in the year 1965-2010, this paper attempts to explain the impact of human capital (education) on economic growth under the endogenous growth theory. following the human capital and distance to frontier (DTF) growth model developed by Vandenbussche et al. (2006), henceforth VAM, human capital was defined as a weighted sum years of schooling, the proportion of educational attainment, and the fraction of skilled human capital. another two new definitions were proposed to articulate the importance of education structure, i.e. the relative share of educational attainment and continuing rate in tertiary education. A system generalised method of moments (GMM) estimation was undertaken, and the results show that the two proposed definitions of education are significant at least at 90 percent of confidence level on the total factor productivity (TFP) growth. hence, it is suggested that education structure matters for growth in developing countries."

"ABSTRACTThis study explores, for the first time, how financial vulnerability affects income inequality across OECD countries, from 1990 to 2015. The empirics use a new financial vulnerability index constructed by Adrian and Duarte (2016). Through the methodology of their modeling approach, panel GARCH and GMM methods, the findings indicate that financial vulnerability exerts a negative impact on income equality conditions. The results survive certain definitions of income inequality and corruption, while they highlight the importance of financial stability conditions, with potential further repercussions to the real economy."

"This study examines the effect of corporate social responsibility disclosure (CSRD) on earnings quality (EQ) in member countries of the Gulf Cooperation Council (GCC). Using 1845 firm-year observations covering the 2008–2016 period, this study performs panel data regressions to examine the association between CSRD as measured by a dummy variable and three common EQ measures, namely, value relevance (VR), accrual quality (AQ), and earnings persistence (PER). The study concludes that CSRD in three of the six GCC countries (Bahrain, Saudi Arabia, and the United Arab Emirates) has a positive and significant association with EQ in terms of VR. The use of generalized least squares (GLS) shows that CSRD has an effect on AQ in Kuwait and Bahrain whereas CSRD has an effect on PER only in Kuwait. Regulators of capital markets should use CSR information as guidelines to improve financial reporting quality and achieve better allocation of resources in capital markets."