The changes in grant allocation among regions have been less revolutionary than the 1999 decentralisation legislation envisaged because the resource-rich regions were able to force the government to modify the proposed fiscal gap formula for allocating general purpose grants so as to put more...

This paper summarizes two country-specific studies which examine the degree and changing patterns of incentives to domestic agriculture in Malaysia and Vietnam. Malaysia stands out in the developing world for its long-standing commitment to maintaining a relatively open trade and investment...

This paper surveys the post-crisis monetary and exchange rate policies of Indonesia, Thailand and Malaysia. Malaysia has pegged the ringgit while Indonesia and Thailand have adopted heavily managed exchange rates. Under their IMF programs, Thailand and Indonesia set base money targets, but...

This authoritative Handbook provides a thorough account and analysis of the important issues relating to the globalization of the international economy.

A true income tax would not affect asset values or investment decisions for given values of cash flows and pre-tax interest rates (Samuelson, 1964). However, most so-called income taxes do not fully tax capital gains on accrual. This note shows that in the absence of adjustment costs, investment...

Throughout the second half of the 20th century, Indonesia's trade policies favoured the modern manufacturing sector relative to agriculture. Within agriculture, they favoured import-competing sectors at the expense of export-competing sectors. Rice is the most important import-competing...