Indonesia-Australia Comprehensive Economic Partnership Agreement (IA CEPA) telah berlaku efektif 5 July 2020. Artikel ini menyorot tujuan dan substansi IA-CEPA, mengulas tantangan keberadaan model free trade agreement in casu IA-CEPA memberikan tawaran strategi bagi Indonesia dalam pelaksanaan IA-CEPA. Secara umum, adalah untuk mendorong peningkatan hubungan dagang, investasi, kerja sama ekonom...

Collective bargaining in Germany takes place at either industry or firm level. As in the majority of OECD countries, collective bargaining coverage is much higher than union density. Not all employees in a covered firm are necessarily covered. This institutional setup suggests to explicitly distinguish union density in a labor market segment, coverage at the firm level, and coverage at the indi...

While in a few societies economic institutions are designed to provide property rights protection, a level playing field, and basic public goods necessary for economic growth, in many they are structured to maximize the rents captured by the “elite,” the individuals or social groups monopolizing political power (e.g., Douglass C. North 1981; Acemoglu, Simon Johnson, and James A. Robinson 2005. ...

The procurement system is a key means through which the client creates preconditions for successful achievement of project specific objectives. Various factors affect the use and development of procurement systems in any construction industry. Thus, it is interesting to discover different systems being used in different instances. This paper present the results of a Panel Data Analysis carried ...

THE MAJOR ECONOMIC ACHIEVEMENT OF 1982 was a dramatic reduction of inflation to its lowest rate in a decade. The 4.6 percent increase in the gross national product (GNP) implicit price deflator between the fourth quarters of 1981 and 1982 was less than half the 10.2 percent rate of increase between the fourth quarters of 1979 and 1980. This decline in inflation has moderated the earlier widespr...

Our article is a methodological critique of the recent legal origins literature. We start by showing that the legal origins literature cannot easily be based on the efficiency hypothesis of the common law. By debunking the relationship between the efficiency hypothesis and the legal origins literature, we are left with no consistent theory to explain the alleged inferiority of French civil law....

In economic models where uncertainty is driven by a diffusion process, the smoothness of agents’ value functions and the existence of optimal strategies play a crucial role in the analysis. This paper shows, firstly, that the value function for the optimal control of any timehomogeneous, one-dimensional diffusion is twice continuously differentiable under Lipschitz, growth, and non-vanishing vo...

High quality institutions, such as rule of law, bureaucratic quality, freedom from government expropriation, and freedom from government repudiation of contracts, mitigate the adverse economic consequences of ethnic fractionalization identified by Easterly and Levine 1997 and others. In countries with sufficiently good institutions, ethnic diversity does not lower growth or worsen economic poli...