On the Impact of Financial Inclusion on Financial Stability and Inequality: The Role of Macroprudential Policies

Financial Inclusion - access to financial products by households and firms - is one of the main albeit challenging priorities, both for Advanced Economies (AEs) as well as Emerging Markets (EMs), even more so for the latter. Financial inclusion facilitates consumption smoothing, lowers income inequality, enables risk diversification, and tends to positively affect economic growth. Financial stability is another rising priority among policy makers. This is evident in the re-emergence of macroprudential policies after the global financial crisis, minimizing systemic risk, particularly risks associated with rapid credit growth. However, there are significant policy tradeoffs that could exist between both financial inclusion and financial stability, with mixed evidence on the link between the two objectives. Given the importance of macroprudential policies as a toolbox to achieve financial stability, we examine the impact of macroprudential policies on financial inclusion - a potential cause for financial instability if not carefully implemented. Using panel regressions for 67 countries over the period 2000-2014, our results point to mixed effects of macroprudential policies. The usage (and tightening) of some tools, such as the debt-to-income ratio, appear to reduce financial inclusion whereas others, such as the required reserve ratio (RRR), increase it. Specifically, both institutional quality and financial development appear to increase the effectiveness of macroprudential policies on financial inclusion. Institutional quality helps macroprudential policies boost financial inclusion, with mixed effects as a result of financial development, but the results are more significant when we include either institutional quality or financial development. This leads us to believe that macroprudential policies conditional on better institutional quality and financial development improves financial inclusion. This has important policy implications for financial stability

Electron-phonon coupling and superconductivity-induced distortion of the phonon lineshape in V3_3Si

Phonon measurements in the A15-type superconductors were complicated in the past because of the unavailability of large single crystals for inelastic neutron scattering, e.g., in the case of Nb$_3$Sn, or unfavorable neutron scattering properties in the case of V$_3$Si. Hence, only few studies of the lattice dynamical properties with momentum resolved methods were published, in particular below the superconducting transition temperature $T_c$. Here, we overcome these problems by employing inelastic x-ray scattering and report a combined experimental and theoretical investigation of lattice dynamics in V$_3$Si with the focus on the temperature-dependent properties of low-energy acoustic phonon modes in several high-symmetry directions. We paid particular attention to the evolution of the soft phonon mode of the structural phase transition observed in our sample at $T_s=18.9\,\rm{K}$, i.e., just above the measured superconducting phase transition at $T_c=16.8\,\rm{K}$. Theoretically, we predict lattice dynamics including electron-phonon coupling based on density-functional-perturbation theory and discuss the relevance of the soft phonon mode with regard to the value of $T_c$. Furthermore, we explain superconductivityinduced anomalies in the lineshape of several acoustic phonon modes using a model proposed by Allen et al., [Phys. Rev. B 56, 5552 (1997)]

Gelatin Properties of Goat Skin Produced by Calcium Hydroxide as Curing Material

Application of strong bases as curing materials has been widely applied in commercial gelatin industries, but the application of weak bases has not been much done. Application of strong bases as a treatment was not economical and assumed to affect human health. Studies were conducted on the properties of goat skin gelatin manufactured using weak base types of Ca(OH)2 and then compared with properties of commercial gelatin. Skins from Bligon goats of 1.5 to 2.5 years old was used as the raw materials and Ca(OH)2 100 g/l as curing materials. The 2x3 factorial completely randomized design (CRD) with three replications was used as a design study. Two curing times (2 and 4 days) and three concentrations (3, 6, 9% v/v) were used as treatments, and commercial gelatin (pure (P) by Merck, food grade (Fg) and pharmacy standards (Ps)) were used as control. Gelatin produced from goat skins using Ca(OH)2 had properties similar to that of commercial gelatin. The heavy metals (Pb, Cu and Zn) contained in goat skin gelatin still meet the INS standards. The optimum production of gelatin has been generated through the application of 4-day curing time at a concentration of 9% (v/v)

Perlindungan Hukum Bagi Nasabah yang Didaftarhitamkan Akibat Kesalahan Sistem Perbankan Menurut UU No. 10 Tahun 1998 Tentang Perbankan

Tujuan dilakukannya penelitian ini adalah untuk mengetahui bagaimana perlindungan hukum bagi nasabah yang didaftarhitamkan akibat kesalahan sistem perbankan menurut UU no. 10 tahun 1998 tentang Perbankan dan bagaimana ketentuan Peraturan Bank Indonesia dalam pengenaan sanksi terhadap pihak bank yang melakukan kesalahan dan kelalaian dalam laporan informasi debitur yang mengakibatkan nasabah didaftar hitamkan. Dengan menggunakan metode penelitian yuridis normatif, maka disimpulkan: 1. Perlindungan hukum terhadap nasabah sendiri sudah semakin terlihat dengan menempatkan perlindungan nasabah sebagai salah satu pilar perbankan nasional. Walaupun dalam Undang Undang No. 10 tahun 1998 tentang Perbankan tidak ada ketentuan yang secara khusus mengatur masalah perlindungan hukum terhadap nasabah tetapi ini diwujudkan dalam arsitektur perbankan Indonesia pada pilar ke enam yaitu peningkatan perlindungan nasabah dengan menyusun standar mekanisme pengaduan nasabah, membentuk lembaga mediasi perbankan, menyusun transparansi produk, dan mempromosikan edukasi untuk nasabah. 2. Bank Indonesia memberikan sanksi terhadap bank yang melakukan kesalahan atau kelalaian termasuk tidak melaporkan perihal debitur dan kreditnya dalam sistem informasi debitur, dengan sanksi berupa kewajiban membayar yang telah ditentukam oleh Bank Indonesia, sanksi teguran tertulis, sampai pada penilaian kesehatan bank oleh Bank Indonesia

Kepemimpinan Kepala Sekolah dalam Melestarikan Budaya Mutu Sekolah

Bertolak pada Peraturan Menteri pendidikan Nasional, no 28 tahun 2010, tentang penugasan kepala sekolah bahwa kepala sekolah berfungsi sebagai leader dan manajer di sekolah yang mempunyai peran penting dalam mewujudkan visi dan misi sekolah. Hal ini sesuai dengan peraturan Menteri Pendidikan Nasional dimana kepala sekolah adalah seorang guru yang diberikan tugas tambahan sebagai kepala sekolah atau madrasah untuk memimpin dan mengelola sekolah atau madrasah dalam upaya meningkatkan mutu pendidikan. Mengelola sekolah atau madrasah memerlukan model dan gaya kepemimpinan. Model dan gaya kepemimpinan kepala sekolah bukanlah suatu kebetulan, akan tetapi ada nilai-nilai yang mendasarinya. yaitu dimensi soft yang mempengaruhi terhadap kinerja individu dan mutu, yaitu nilai-nilai (values), keyakinan (belief), norma, budaya mutu (culture) pembentuk budaya mutu sekolah merupakan perpaduan nilai-nilai, keyakinan, asumsi, pemahaman, dan harapan yang diyakini oleh warga sekolah serta dijadikan pedoman bagi perilaku dan pemecahan masalah internal dan eksternal yang mereka hadapi dan merupakan dasar dan landasan bagi Perubahan dalam hidup pribadi atau kelompok