The transformation of the Indonesian economy and building the basis of incomparably fast development started at the end of 60-ies. Moderate professional macro-level regulation, slow and gradual setup of market environment as well as an effective use of foreign support and advices were all...

The effectiveness of a central bank's monetary policy depends on the incentives of its head and board members to pursue an efficient policy in the citizens interest. Today, however, these incentives are weakened by three kinds of regulations. First, in almost all countries, only nationals may be...