Capital Flows Management During the Post-2007 Global Financial Crisis: The Experiences of SEACEN Economies

Although global financial stability in late 2010 and early 2011 has, in general, improved when compared to the 2008-2009 period of the sub-prime global financial crisis, vulnerabilities remain high. The recent World Economic Outlook of the IMF (WEO, September 2011) underlines the two speed recovery processes taking place in the world economies. In advanced economies, especially those hit hardest by the crisis, firms, government and household sectors continue to be heavily indebted and are likely to spur relatively weak demand. Although the financial markets of these economies have, in most parts, returned to profitability, the overall frail balance sheets reflect the general subdued state of the local economy. In sharp contrast, the emerging economies, including those of the SEACEN region, are posting robust growth rates until the second half of 2011, meeting new challenges associated with strong demand, rapid credit and excess liquidity. Price pressures, including potential asset price bubbles, have been the common themes of policy challenges for the SEACEN economies. Managing macro-financial risks, namely balancing growth, balance sheet soundness of the financial institutions, particularly the banking sector, and keeping a lid on inflationary pressures, have been and will likely be the primary policy challenges for these emerging markets in 2011 and 2012. This paper takes stock of recent trends and developments with regard to capital flows in the SEACEN economies. It elaborates in detail, the breakdowns and compositions of the flows. In particular, the focus of the analyses is on key flows such as the international bank lending activities to the region. The paper also summarises and analyses some of the basic push and pull factors of these flows to understand some of the domestic and external drivers of these flows. Some of the economic consequences of these capital flows and policy dilemma facing the SEACEN economies are also looked at. The paper also examines the policy responses of the central banks/monetary authorities, in particular, to mitigate the negative consequences and maximise the benefits of capital flows.

Analisis Faktor Yang Mempengaruhi Kebijakan Hutang Emiten Pertanian Di Bursa Efek Indonesia

In financial management perspective, corporate goal is to maximize shareholder or corporate value. The purpose of this study was to analyze the effect of institutional ownership (INST), asset structure (FAR), profitability (ROA), and corporate growth (GROWTH) on debt policy. This study used linear and multiple regression analysis. Significant test results of individual parameters (t statistical test) showed that significant value of INST variable 0.058 < 0.1 (α) and -0.632 (β), FAR 0.097 < 0.1 (α) and 1.019 (β), ROA 0.043 < 0.1 (α) and -1.198 (β), and GROWTH 0.064 < 0.1 (α) and 0.972 (β). The results showed that INST and ROA significantly and negatively affect debt policies, while FAR and GROWTH were significantly and positively affect on debt policies. Whereas, test result of simultaneous (F statistical test) showed that significant value was 0.010 < 0.1 (α) and the value of F calculated was 4.184 > 2.184 F table. These results indicated that institutional ownership, asset structure, profitability, and corporate growth had a significant effect on debt policy simultaneously

Measuring Ultrasonic Characterisation to Determine the Impact of Toc and the Stress Field on Shale Gas Anisotropy

While the majority of natural gas is produced from conventional sources, there is significant growth from unconventional sources, including shale-gas reservoirs. To produce gas economically, candidate shale typically requires a range of characteristics, including a relatively high total organic carbon (TOC) content, and it must be gas mature. Mechanical and dynamic elastic properties are also important shale characteristics that are not well understood as there have been a limited number of investigations of well-preserved samples. In this study, the elastic properties of shale samples are determined by measuring wave velocities. Arrays of ultrasonic transducers are used to measure five independent wave velocities, which are used to calculate the elastic properties of the shale. The results indicated that for the shale examined in this research, P- and S-wave velocities vary depending on the isotropic stress conditions with respect to the fabric and TOC content. It was shown that the isotropic stress significantly impacts velocity. In addition, S-wave anisotropy was significantly affected by increasing stress anisotropy. Stress orientation, with respect to fabric orientation, was found to be an important influence on the degree of anisotropy of the dynamic elastic properties in the shale. Furthermore, the relationship between acoustic impedance (AI) and TOC was established for all the samples

Tingkat Kelulusan Hidup Larva Teripang Pasir (Holothuria Scabra, Jaeger) dengan Perlakuan Pemberian Pakan Alami Berbeda di Balai Besar Pengembangan Budidaya Laut (BBPBL) Lampung

Ketepatan aspek pakan pada larva stadia planktonis merupakan pendukung utama keberhasilan budidaya teripang pasir (Holothuria scabra) hingga menjadi teripang muda maupun induk. Penelitian ini bertujuan untuk mengetahui jenis pakan yang dikonsumsi dan mengamati kelangsungan hidup larva teripang pasir. Penelitian ini dilaksanakan di Laboratorium Pembenihan Teripang Balai Besar Pengembangan Budidaya Laut (BBPBL) Lampung, pada bulan November sampai Desember 2008. Larva teripang dipelihara selama stadium planktonis dan diberi pakan alami berbeda dari spesies Isochrysis sp., Tetraselmis sp., Chaetoceros sp., dan Nannochloropsis sp. Nilai kelulusan hidup rata-rata tertinggi dijumpai pada pakan alami jenis Chaetoceros sp., 6,083%, diikuti jenis Isochrysis sp., 1,083%. Larva teripang yang diberi pakan jenis Tetraselmis sp., dan Nannochloropsis sp tidak memiliki nilai kelulusan hidup

Density-Functional Theory of Graphene Sheets

We outline a Kohn-Sham-Dirac density-functional-theory (DFT) scheme for graphene sheets that treats slowly-varying inhomogeneous external potentials and electron-electron interactions on an equal footing. The theory is able to account for the the unusual property that the exchange-correlation contribution to chemical potential increases with carrier density in graphene. Consequences of this property, and advantages and disadvantages of using the DFT approach to describe it, are discussed. The approach is illustrated by solving the Kohn-Sham-Dirac equations self-consistently for a model random potential describing charged point-like impurities located close to the graphene plane. The influence of electron-electron interactions on these non-linear screening calculations is discussed at length, in the light of recent experiments reporting evidence for the presence of electron-hole puddles in nearly-neutral graphene sheets.Comment: 11 pages, 9 figures, submitted. High-quality figures can be requested to the author

Sistem Pendukung Keputusan Calon Penerima Raskin dengan Metode Polygons Area Method (Pam) di Kelurahan Airnona-kota Kupang

Raskin (Beras Miskin) is one of the Indonesian government programs to help reduce the expenditure of the poor people. This program is conducted by Bulog and Local Government. Raskin distribution procedure at Airnona sub-district is still using manual method, that those who will receive Raskin is submitted by RT, so that a Decision Support System (DSS) is needed to help handle the problem. The PAM (Polygons Area Method) method is one of the methods in DSS which can help solve unstructured problems. This study uses 8 criteria namely, monthly income, quantity of dependents, floor area of the house, the type of house floor, type of the house wall, assets, lighting source, and drinking water source. System test is done by comparing the ranking system with the name issued by Dinas Sosial. This test uses 66 interview data with 2016 recipient data resulting in similarity rate of 43% and unsimilarity rate is 57%. During then analysis on several data the conclusion is system able to provide good result

Production of semi- refined carrageenan from Eucheuma cotonii.

This study presents alkaline extraction of red seaweed, Eucheuma cotonii, to yield semi-refined carrageenan (SRC) of kappa type. Temperatures 60-80°C were suitable for extraction of SRC. At 80°C using 1.0 M KOH, produced SRC contained the highest purity of 3, 6-anhydrogalactose, a lower heavy metal concentration and gave highest rupture force

Di-μ-methacrylato-κ4 O:O′-bis­[aqua­bis(1,10-phenanthroline-κ2 N,N′)copper(II)] dinitrate dihydrate

The title complex, [Cu2(C4H5O2)2(C12H8N2)2(H2O)2](NO3)2·2H2O, contains a dimeric [Cu2(C4H5O2)2(C12H8N2)2(H2O)2]2+ dication with two five-coordinated CuII ions linked by two methacrylate ions in a syn–syn bridging arrangement. The dication possesses pseudo-twofold rotational symmetry. The penta­coordination of each CuII ion has a distorted square-pyramidal geometry, with two N donors from a phenanthroline ligand and two carboxyl­ate O atoms occupying basal sites and the apical position being occupied by a water mol­ecule. In the crystal packing, mol­ecules are linked to form a three-dimensional framework by O—H⋯O and C—H⋯O hydrogen bonds and π–π inter­actions [centroid–centroid distances of 3.6039 (15), 3.5301 (15), 3.6015 (15), 3.6496 (15) and 3.6858 (15) Å]

Isotropic Band Gaps and Freeform Waveguides Observed in Hyperuniform Disordered Photonic Solids

Recently, disordered photonic media and random textured surfaces have attracted increasing attention as strong light diffusers with broadband and wide-angle properties. We report the first experimental realization of an isotropic complete photonic band gap (PBG) in a two-dimensional (2D) disordered dielectric structure. This structure is designed by a constrained-optimization method, which combines advantages of both isotropy due to disorder and controlled scattering properties due to low density fluctuations (hyperuniformity) and uniform local topology. Our experiments use a modular design composed of Al2O3 walls and cylinders arranged in a hyperuniform disordered network. We observe a complete PBG in the microwave region, in good agreement with theoretical simulations, and show that the intrinsic isotropy of this novel class of PBG materials enables remarkable design freedom, including the realization of waveguides with arbitrary bending angles impossible in photonic crystals. This first experimental verification of a complete PBG and realization of functional defects in this new class of materials demonstrates their potential as building blocks for precise manipulation of photons in planar optical micro-circuits and has implications for disordered acoustic and electronic bandgap materials