Selasa, Januari 19, 2010
Global Economic Crisis and Its Impact to Indonesian Economy
Written By Munawir Achmady di 4:28:00 PMToward the end of the third quarter-2008, the world economy faced with the one-act the collapse of the new global economic stability, along with the financial crisis spread to the various countries. The global financial crisis began appeared since August 2007, namely at the time one of France's biggest bank BNP Paribas announced the freezing of some securities associated with risky housing loans High U.S. (subprime mortgage). This freezing then began to trigger turmoil in financial markets and eventually spread to the whole world. In end-third quarter of 2008, the intensity of the crisis grew larger as the bankruptcy of largest U.S. investment bank Lehman Brothers, which followed by a growing financial difficulties severe in a number of financial institutions scale major in the U.S., Europe, and Japan.
World financial crisis has been impact to the economy of Indonesia as reflected the turmoil in capital markets and the market money. Composite Stock Price Index (JCI) on December 2008 level to close at 1355.4, cut almost in half from levels in early in 2008 of 2627.3, together with the fall of the market capitalization value and a decrease stock trading volume sharply. Outflow foreign ownership of stocks, government securities (SUN), and SBI continues. Until the end of December 2008, foreign positions in the SUN recorded Rp.87, 4 trillion, lower than September 2008 position which could reach Rp104, 3 trillion. While foreign positions in SBI recorded Rp.8, 4 trillion, down sharply August 2008 compared to the position of Rp.68, 4 trillion. At the same time, the rupiah come corrected sharply to reach levels Rp10.900/USD at the end of December 2008. Condition performance is in line with the balance of payments showed a decrease since the third quarter-2008, as reflected in the increasing deficit running transactions (current account) and start deficit balance of capital and financial transactions (financial accounts).
Increased transaction deficit walking primarily sourced from the slump in performance exports in line with the economic contraction accompanied by a global decline in prices various commodities exports. Meanwhile, difficulties global financial liquidity and increased behavioral risk aversion from foreign investors triggered the re-allocation to safer assets (flight to quality) also resulted in decreasing performance of the capital account and financial transactions. Following depressed export performance in significantly, the business community began to affected and waves of layoffs began occur, especially in industries oriented exports such as wood industry, textiles, and canning. In the reporting period, the global crisis is still took place and even at the end of January 2009, England has officially entered the period of recession following the GDP growth Fourth-quarter 2008 to a negative return in two last quarter. In the midst of efforts performed rescue economy governments of countries 1, the wave of bankruptcies of banking business and industry followed by termination of employment continue to occur in various parts of the world.
With a background like this condition, The most relevant question then arises is how far this crisis will affect the Indonesia's economy. Discussion of the impact the global crisis on Indonesia's economy will be preceded by a chronological and background behind the crisis. Further discussion equipped with a study of the transmission inclusion impact of the global crisis in Indonesia's economy. http://bi.go.id
Increased transaction deficit walking primarily sourced from the slump in performance exports in line with the economic contraction accompanied by a global decline in prices various commodities exports. Meanwhile, difficulties global financial liquidity and increased behavioral risk aversion from foreign investors triggered the re-allocation to safer assets (flight to quality) also resulted in decreasing performance of the capital account and financial transactions. Following depressed export performance in significantly, the business community began to affected and waves of layoffs began occur, especially in industries oriented exports such as wood industry, textiles, and canning. In the reporting period, the global crisis is still took place and even at the end of January 2009, England has officially entered the period of recession following the GDP growth Fourth-quarter 2008 to a negative return in two last quarter. In the midst of efforts performed rescue economy governments of countries 1, the wave of bankruptcies of banking business and industry followed by termination of employment continue to occur in various parts of the world.
With a background like this condition, The most relevant question then arises is how far this crisis will affect the Indonesia's economy. Discussion of the impact the global crisis on Indonesia's economy will be preceded by a chronological and background behind the crisis. Further discussion equipped with a study of the transmission inclusion impact of the global crisis in Indonesia's economy. http://bi.go.id
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