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Abstrak :
This book discusses the risks and opportunities that arise in Emerging Asia given the context of a new environment in global liquidity and capital flows. It elaborates on the need to ensure financial and overall economic stability in the region through improved financial regulation and other policy measures to minimize the emergent risks. "Managing Elevated Risk: Global Liquidity, Capital Flows, and Macroprudential Policy?An Asian Perspective" also explores the range of policy options that may be deployed to address the impact of global liquidity on domestic financial and socio-economic conditions including income inequality. The book is primarily aimed at policy makers, financial market regulators and supervisory agencies to help them improve national regulatory systems and to promote harmonization of national regulations and practices in line with global standards. Scholars and researchers will also gain important information and knowledge about the overall impacts of changing global liquidity from the book.

Abstrak :
Krugman used the Bernanke-Gertler model to explain the Asian Crisis. This model implies that macroeconomic shocks am decrease credit creation by reducing firms' creditworthiness or by eroding hank capital. Foreign banks in Indonesia should he less likely to restrict credit following macaroeconomic shocks than domestic banks because they employed better risk management practices, they were less vulnerable to disintermediation, and their customers were largely hedged. Thus foreign banks were used as the control group. Wt1 found that interest and exchange rate shocks reduced hunk capital and bunk lending more greatly in domestic batiks than in foreign banks. This indicates that the crisis curtailed the loan supply in Indonesia, forcing firms to reduce spending and output.

Abstrak :
Studies on total productivity in developing countries are scarce, primarily due to the absence of capital stock data, forcing them to use some assumptions to proxy capital stock. These studies are basically static in nature, using the residual to measure productivity, ignoring feedback interactions likely to occur when there is an increase in productivity, i.e., capital formation augments when productivity increases, or "inspiration gives rise to more perspiration" (Hulten and Srinivasan, 1999). But more seriously, studies on TFP tend to be distant from actual policy environments because they fail to embrace the economy-wide impacts of the changes in productivity. Many policy trade-offs are excluded and hence overlooked. Studies on total productivity in developing countries are scarce, primarily due to the absence of capital stock data, forcing them to use some assumptions to proxy capital stock. These studies are basically static in nature, using the residual to measure productivity, ignoring feedback interactions likely to occur when there is an increase in productivity, i.e., capital formation augments when productivity increases, or "inspiration gives rise to more perspiration" (Hulten and Srinivasan, 1999). But more seriously, studies on TFP tend to be distant from actual policy environments because they fail to embrace the economy-wide impacts of the changes in productivity. Many policy trade-offs are excluded and hence overlooked.

Abstrak :
ABSTRACT
The notion that something that cannot be measured does not exist seems to apply to the absence of consideration of culture in economics, where the role of institutions is at the center of the link between the two. Yet, economic prosperity, crisis, and deprivation result from human behavior, reflecting the outcome of social learning a central concept of culture. Institutions and culture interact and evolve in complementary ways. Each can affect the process of exchange and transaction costs, which in turn determine economic performance. Although more work has been done to better understand the interrelation between economics and culture, most falls on deaf ears among mainstream economists, despite the fact that real world cases show the critical role of this interrelation. This paper discusses demonstrates a deficiency of mainstream economics in its disregard of the role of culture and institutions.