In 2013, a brand new financial services authority, the Otoritas Jasa Keuangan (OJK), took over responsibility for regulating capital markets and non-bank financial institutions in Indonesia. By the time when there remained no world-wide agreement on the optimality of distinguishing monetary policy from bank supervision, many questions were raised by the creation of the OJK.
Would the OJK prepare Indonesia to cope with fiscal crises? Could an organization whose leaders came from the present economic bureaucracies in Indonesia remain independent of those organizations and from political pressures? Was the development of the OJK the correct answer to public dissatisfaction with Bank Indonesia's handling of the Asian financial crisis and subsequent corruption scandals?
PUBLICATION DATE: March 19, 2013 PRODUCT #: 713003-PDF-ENG
This is just an excerpt. This case is about GLOBAL BUSINESS
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