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Abstrak :
Starting from January 1, 2001, the provincial governments in Indonesia suddenly faced a huge problem in managing their public finance. The management of certain sectors and their budgeting were, including education, decentralized. Government regulation No. 25 in 2007 gave the local governments more freedom to establish a suitable education system for their respective regions. This paper will attempt to analyse the performance of secondary schools across regions. The production function theory will be used due to the government's intention to make the secondary school {years 7-12) the compulsory minimum level of education for the Indonesian people. The results show that the government budget cannot significantly affect the efficiency in the secondary school industry because the inputs that are financed are not significant for inducing efficiency. Instead, external factors like population and also fhe existence of financial loans is likely to be significant. The policy on loans has to be reconsidered to see the cost benefit or- the comparison between returns on human capital improvement through secondary schools and the interest rate of the loan

Abstrak :
Tesis ini membahas pengaruh dari empat indeks saham (variabel bebas), yaitu: DJIA(Amerika), DAX (Jerman), NKY (Jepang) dan FSSTI (Singapore) terhadap JCI (Indonesia) sebagai variabel terikat. DJIA mewakili Indeks saham global sementara DAX, NKY dan FSSTI mewakili indeks saham regional. Hipotesa: Pengaruh ke-4 variabel bebas tersebut terhadap JCI diperkirakan signifikan pada periode krisis subprime mortgage di AS dan krisis surat utang di UE. Analisis ini menggunakan metodologi uji korelasi, uji regresi OLS dan uji kausalitas Granger. Hasil yang diperoleh ternyata dalam kedua periode pengujian, hanya DJIA dan FSSTI yang berpengaruh signifkan terhadap JCI.

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This thesis analyzes the influence of the four stock indices (independent variables): DJIA (USA), DAX (Germany), NKY (Japan) and FSSTI (Singapore) to JCI (Indonesia) as the dependent variable. The DJIA represents global stock index while DAX, NKY and FSSTI represent regional stock indices. Hypothesis: All of independent variable would influence the independent variables significantly in the period of the sub-prime mortgage crisis in the USA and debt crisis in the EU. This analysis uses correlation test methodology: OLS regression test and Granger causality test. The results show that only DJIA and FSSTI influence JCI significantly on both period tests.