Credibility boost needed<\/p>\n
The current controversy surrounding the Supreme Court and a
\nnumber of economic and political policies that have been
\nimplemented lately have raised some concern. These developments
\nhave caused both the public's sense of legal security and the
\ngovernment's credibility to become eroded, particularly over the
\nquestion of consistency in the government's implementation of
\npolicies.<\/p>\n
Both those issues, according to a World Bank study, act as a
\nbrake on a country's economic development. The study, which was
\nconducted at the end of 1992 in 28 countries by the prestigious
\ninternational institution, found that a positive correlation
\nexists between the credibility which a state possesses in the
\neyes of its people, and the rate of that particular country's
\neconomic growth. In other words, the higher the state's
\ncredibility in the eyes of the people, the higher that country's
\neconomic growth rate will be, and vice versa.<\/p>\n
A number of government policies that have been implemented of
\nlate have aroused concern. This is particularly true in cases
\nwhere export-oriented policies are apparently being reversed in
\nfavor of import-substitute manufacturing policies accompanied by
\nprotective measures.<\/p>\n
We are not against import-substitute industries or protection
\nas long as they remain reasonable in scope. The fairest yardstick
\nin this matter, we believe, is the capability of the products to
\ncompete in the world market. The government, as the World Bank
\nstudy concludes, can help boost its ability to compete in two
\nways: by improving its own credibility level through fostering a
\ngreater sense of legal security, and by implementing economic
\npolicies that are both consistent and market friendly.<\/p>\n
-- Media Indonesia, Jakarta<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/credibility-boost-needed-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }