Special Issue FGD Asuransi Syariah 2025: Peluang dan Tantangan Asuransi Syariah di Indonesia
Kinerja asuransi jiwa dan umum syariah menunjukkan tren peningkatan, namun pangsa pasar terhadap total industri masih relatif kecil dibandingkan asuransi konvensional, yang menandakan ruang pertumbuhan yang masih besar, terlebih demografi penduduk Indonesia mayoritas beragama Islam. Sebagai upaya memperdalam pemahaman mengenai kondisi industri asuransi syariah serta merumuskan strategi pengembangannya, IFG Progress menyelenggarakan Focus Group Discussion (FGD) […]
Measuring Short-Rate Dynamics in Indonesia: IndONIA, Spreads, and Out-of-Sample Accuracy
This study develops a practical forecast for IndONIA 1-month at quarter end and identifies the forces that shape its path. A harmonized quarterly dataset from CEIC and Bloomberg underpins the analysis, with series aligned to common timestamps, units, and currency conventions and checked against source releases. The baseline uses SARIMAX and Spread Analysis to map […]
From Synergy to Solvency: What Insurance M&A Gets Right (and Wrong)
The M&A process spans three core phases (preparatory, transaction, and post-merger integration), each requiring strong coordination, leadership, and clear strategic intent, while due diligence functions as a cross-cutting safeguard to ensure valuation accuracy and mitigate risks across financial, legal, tax, operational, human resources, and IT dimensions. Empirical evidence shows that target firms tend to capture […]
Gold as a Hedging and Alternative Investment Instrument: An Empirical Analysis Using Mean-Variance Optimization
The study evaluates whether gold is a suitable and effective portfolio asset for Indonesia, focusing on its roles as hedge, safe haven, and diversifier. It frames the question in an Indonesia-centric setting, so results translate into allocation policy and product design. A unified monthly dataset from CEIC and Bloomberg underpins the analysis. The study links […]
Reforming JIBOR: Is IndONIA the Right Benchmark?
The shift from JIBOR to INDONIA addresses the need for a more transparent and transaction-based benchmark. JIBOR relied on bank estimates, while INDONIA reflects actual market rates. The reform involves related parties such as Bank Indonesia, OJK, the Ministry of Finance, and industry associations to strengthen market credibility and align with global standards. Empirical analysis […]
Unpacking the Myth: Are Cooperatives the Engine of Local Growth?
This study conducts a deeper analysis of the economic impact of cooperatives. It aims to explore the relationship between cooperative presence and key local economic indicators, including GRDP growth, open unemployment rate, and average household consumption at the regional level. To explore the impact of cooperatives thoroughly, we utilize three proxies: (1) the total number […]
Narrowing Indonesia–United States 30-year Sovereign Yields Spread: Structural Analysis and Outlook
Eco Bulletin Issue 68 Indonesia’s 30-year sovereign bond yield spread has narrowed significantly in recent years, declining from a historical average of 5–6% above US Treasury yields to around 3%, a level near two standard deviations below its long-run mean. This convergence raises important questions about whether the compression reflects structural improvements in macroeconomic credibility […]
Mapping Trump’s Tariff Policy Impact on Indonesia’s Insurance Sector
Pada bulan April 2025, Presiden Trump menyampaikan bahwa pemerintah Amerika Serikat (AS) akan memberlakukan kebijakan tarif impor secara luas yang mencakup hampir seluruh barang masuk ke AS. Kebijakan ini bertujuan untuk melindungi pasar domestik AS dari persaingan global, dengan memberlakukan tarif dasar sebesar 10% secara global, ditambah tarif “respirokal” sebesar 11%-50%. Langkah ini diterapkan terhadap […]
State-Owned Challenges: Why SOEs Can’t Just Keep Coasting
Dual Mandate Dilemma State-owned Enterprises (SOEs) operate at the intersection of public policy and commercial markets, tasked with delivering public goods while competing with private firms. This dual mandate often leads to internal inefficiencies, blurred performance metrics, and institutional confusion, particularly in sectors with mixed market structures. Sector-Specific Performance Patterns The analysis shows that SOEs […]
Trump’s “Reciprocal Tariffs”: Global Trade Shock and Implications for Indonesia
In April 2025, the United States launched a sweeping “reciprocal tariff” policy, imposing a 10% baseline tariff on nearly all imports and up to 50% on goods from 57 countries with large trade surpluses. The policy aims to counter decades of non-reciprocal trade and reduce the $1.2 trillion US trade deficit. However, exemptions apply to […]
