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This article aimed to describe the socio-political conditions after the Bongaya Treaty of 1667. This study employed the historical research method (library research). The researcher applied several approaches, namely the historical approach, religious approach, anthropological approach, and sociological approach. The Makassar War is a momentum for change from all aspects, not only changes from the political aspect but also the social, cultural and economic aspects that greatly tormented the people of Gowa. As a King, Sultan Hasanudin was responsible for the fate of the royal people of Gowa, which was getting sad. Sultan Hasanudin had to consider this even though he wanted to continue to fight. Sultan Hasanudin really understood the suffering of the people of the Kingdom of Gowa. Due to these considerations, the war lasted approximately four years, starting from 1666-1669 and ending with the Bungaya Treaty, which consisted of 30 articles. The treaty affected all aspects of Gowa community life, not only in terms of political factors but also the existence of Muslims. Since then, the power and influence of the Netherlands in East Indonesia began to be embedded towards serious colonialism. Sultan Hasanuddin, who dashed to defend his country until the last second has controlled the Kingdom of Gowa for 16 years; namely 1653-1669 and died in Gowa on June 12, 1670.

The aim of this study was to highlight the key finding of corporate political connections research. This study used 61 previous studies related to corporate political connections to develop a structured literature review. It was found that most studies were conducted in developing countries as they provided a unique institutional setting for conduct political connections research. In addition, a political connection is used as independent variables and the previous studies focuses on three related topics, which are corporate performance, corporate action, and loan and special rights. Literature review study become more important nowadays, as the number of empirical quantitative research amount has been increased lately. This analysis also has research and practical implementation for researcher, practitioners, and regulators.

Global surveys indicate that massive disillusionment with economic globalisation, upheld by the liberal order, which is ignored by governments in European, Asian and Latin American countries, has paved the way for the ascent of nationalist forces. This trend is also visible in Indonesia. President Joko Widodo (Jokowi) has consolidated power against opponents who exploit nationalist, populist and religious causes. On the international front, Jakarta has been actively engaged within a variety of multilateral organisations where liberal institutionalist agendas are enforced. Therefore, it is worthwhile considering the influence of internal and external environments on Jokowi's economic policy which is getting increasingly nationalistic. This article argues that nationalist economic practices have emerged as the Jokowi government's response to domestic and international challenges which can have an impact on its perceived legitimacy. The discussion proceeds in five steps. To begin, this article presents a comparative perspective to understand the position of Indonesia in the developing international political economic context. This is followed by an overview of the definition of economic nationalism and its connections to domestic politics and foreign relations. The third section is about the Indonesian government's efforts to put economic nationalism into effect. The next two parts investigate how the inside and outside dynamics generate Jokowi's inward-looking policies. The conclusion emphasises what can be learnt from the Indonesian case.

The purpose of this study is to investigate the association between political connections and overinvestment in Indonesia as a democratic, multi-party and developing country. This study uses sample of 1,044 and 543 firm-year observations from listed firms on the Indonesian Stock Exchange from 2012 to 2017. A two-stage model is used to address overinvestment, which used two different measurements, then continued by ordinary least square regression to establish the main analysis result. This study finds that political connection is negatively associated with overinvestment in Indonesia. We also find that this negative association is increasing due to the existence of governance mechanism from both external and internal parties of the firm. Our results indicate that the significant negative associations between political connections with overinvestment, which later is strengthen by governance mechanism might be caused by several differences in institutional setting and/or political connections benefits between the previous research in China and with the place where this research is taken. This paper could give insights in decision-making for stakeholders to anticipate certain harmful issues to the companies that might be occurred by their politically connected top management like directors and commissioners.