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The Indonesian FSA and Stymied Portfolio Investments Liberalization

In: The Rise of the Indonesian Financial Service Authority

Author

Listed:
  • Chandra Kusuma

    (Ministry of Finance of the Republic of Indonesia)

Abstract

This chapter elaborates the matters in which FSA agents operate and, thus, stymie the domestic portfolio investment liberalization process in Indonesia. Agents are exercising their power and authority as the “independent and free” ultimate decision-maker in portfolio investment liberalization. As such, agents opted to reject, or halt, or delay the implementation of the ASEAN portfolio investments liberalization initiatives, in turn, creating domestic implementation gaps. This chapter uses the ASEAN Trading Link, the ASEAN Framework for Cross Border Offering of CIS, the ASEAN Disclosure Standards and the ABIF as well other related bodies to illustrate that Indonesian FSA officials clearly exhibit a more conservative approach to portfolio investment liberalization than that committed to in ASEAN. In addition, agents also operate within the Indonesian FSA by harnessing the international standards for “national interests” and avoiding the regional portfolio investments liberalization.

Suggested Citation

  • Chandra Kusuma, 2022. "The Indonesian FSA and Stymied Portfolio Investments Liberalization," Springer Books, in: The Rise of the Indonesian Financial Service Authority, chapter 0, pages 89-148, Springer.
    • Handle: RePEc:spr:sprchp:978-981-19-3850-4_4
    DOI: 10.1007/978-981-19-3850-4_4
    as

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