Cadith, Juliannes (2015) TATA KELOLA UTANG PEMERINTAH YANG BERKELANJUTAN (SUSTAINABILITY DEBT). In: 9th International Conference on Malaysia-Indonesia Relations (PAHMI 9) Faculty Of Social Sciences Yogyakarta State University.
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Abstract
Low-income countries have two constraints in financing their economic development (theory of two-gap model). First, they do not have sufficient domestic savings to finance the investments required to achieve the targeted economic growth. Secondly, they have low foreign exchange earnings to finance the import of raw materials and capital goods needed in investment. These problems portray the needs for financing to cover the two-gap, the financing could come from domestic debt or foreign debt. As a developing country, Indonesia is one of the countries that still rely on loans / debt, both domestic and foreign to finance their development. The development process which is carried out to pursue economic growth with the help of financing through debt to cover these two constraints can make the government have sufficient fiscal capacity to boost development. Theoretically, good debt management (foreign and domestic) will support higher economic growth and improve people's welfare. However, debts that are not allocated and managed properly will cause problems in the form of a very high burden of payment, here's debt no longer be supporting economic growth instead they become a source of threat to macroeconomic stability, be it through the pressure of fiscal deficits, unequal social distribution in the state budget as well as the pressure on foreign exchange reserves. The question to answer in this article is whether Indonesian debt today has been well managed and provide support for economic growth and improve people's welfare ? or in the language of revenue and expenditure management, has the debt become a profitable alternative financing or a fiscal burden? The Indonesian government's debt stock is quite worrying reaching 2.843,25 trillion rupiah, the extent to which the government can manage the debt so that the Fiscal Sustainability can be achieved, whether there is space and opportunity for the government to address fiscal pressures, and whether the government in the implementation of the policy framework has managed debt properly? Debt Management is a keyword that is vital to keep the manageability of debt (debt sustainability). Keywords: Debt, manageability and Development.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Ilmu Sosial > Kewarganegaraan dan Hukum |
| Divisions: | Fakultas Ilmu Sosial, Hukum dan Ilmu Politik (FISHIPOL) > Pendidikan Kewarganegaraan dan Hukum |
| Depositing User: | Admin Pendidikan Kewarganegaraan FIS |
| Date Deposited: | 04 Nov 2015 01:26 |
| Last Modified: | 04 Nov 2015 01:26 |
| URI: | http://eprints.uny.ac.id/id/eprint/27911 |
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