Suchergebnisse

State activism is strengthening in the Indonesian economy. One major aspect of this recent strengthening is the government's mobilisation of public entities to provide patient capital for development projects. Joko Widodo's government (2014–2019) has injected a significant amount of capital into these development 'financiers' across diverse sectors. This strategy has served as the government's response to the shrinking external development finance, the underdeveloped domestic capital market, and the limitations of Indonesia's former development model. Along with a notable expansion in the size of development financiers, significant transformation of missions, targets, and policy tools has occurred over a short time span. More precisely, Indonesia's major development financiers have begun to focus on accelerating strategic infrastructure development and industrialisation and supporting state enterprises in related areas. On top of dealing with immediate development challenges, the growth and transformation of development financiers have also had an effect of expanding the government's policy space. The Indonesian government now has a greater capacity to autonomously mobilise public capital to fund development projects. (Rev Pac/GIGA)

AbstractUnder the government of President Joko Widodo, Indonesia's state‐owned enterprises (SOEs) have become the driver of the national development strategy. The current administration is actively using SOEs to conduct development projects based on the belief that SOEs are able to fix market failures and support the fiscally constrained government. In order to strengthen the role of SOEs, the Indonesian government is pursuing a medium‐term plan of creating sector‐based holding companies. The government expects that these state‐owned holding companies (SOHCs) will enable SOEs to expand investment and benefit from synergies. However, considering political hurdles in implementing this policy, the process of establishing SOHCs is expected to advance gradually. The government also continues to face challenges clarifying and communicating the rationale behind creating SOHCs. This paper examines the current political economic context of SOE ownership reorganisation in Indonesia and diverse views on the expected consequences of forming SOHCs.

We focus on special characteristics of the manufacturing sector, in terms of employment generation and productivity growth, that enable the rapid, resilient economic catch-up of developing countries. We consider the 'developer's dilemma' and the relationship between manufacturing value added or employment shares and trends in income inequality. In Indonesia, structural transformation was growth-enhancing and economic growth inclusive during the decades before the 1997-98 Asian financial crisis. Since then, structural transformation has become notably less growth-enhancing and inclusive growth outcomes have been mixed. Indonesia's structural transformation pattern has shifted, from 'upgrading industrialization' before the crisis to 'stalled industrialization' afterwards. Both periods saw weak Kuznetsian tension, but patterns of structural transformation and inclusive growth beforehand were more 'benign' than patterns after the crisis. The government has adopted diverse social policy programmes and industrial policies to tackle these twin development challenges. We discuss changes in the political economy of development policymaking since the crisis.

Abstract
Germanium (Ge) films were heteroepitaxially grown on flexible, large-area, single-crystal-like metallic substrates. Multiple, heteroepitaxial, buffer layers of nanoscale dimensions were deposited on the triaxially textured, single-crystal-like, thermo-mechanically processed Ni–W alloy substrates. Ge films were deposited on a CeO2-terminated, heteroepitaxial buffer stack on the metallic substrate using electron beam evaporation. X-ray diffraction θ–2θ scans showed a very strong Ge (400) peak and the full width at half-maximum (FWHM) of the Ge (400) rocking curve was 0.93°. The Ge (111) ϕ-scan showed a FWHM value ∼4°. Based on the X-ray ω-scan, ϕ-scan and (111), (110), and (001) X-ray pole-figures, the Ge film deposited on the flexible, metallic substrate had a cube-on-cube heteroepitaxial relationship with the single-crystal-like metallic substrate. Reflection-high-energy-diffraction (RHEED) patterns from the Ge layer was streaky indicative of a smooth and essentially single-crystal-like Ge film. Cross-section TEM examination revealed a sharp interface between the Ge film and the topmost buffer layer, CeO2, with a low defect density. The CeO2 layer serves as a highly compliant layer that modulates its lattice parameter to attain excellent lattice-matching to the heteroepitaxial Ge layer. Ge films grown on these flexible metal substrates exhibited electron mobilities in the range of 175–250 cm2V–1s–1. Such single-crystal-like semiconductor films on low-cost, flexible, large-area, scalable, single-crystal-like metallic substrates could potentially enable high-performance electronic devices for a range of applications.