Journal of Business and Economic Analysis

This paper reviews three interrelated propositions advanced in the literature to explain the U.S. financial crisis of 2007 to 2009, and draws cogent implications for the roles of monetary and fiscal policies in improving macroeconomic management across countries to sustain global financial stability. The three propositions advanced to explain the U.S. financial crisis are: (1) the monetary-excess hypothesis (2) lax regulation and supervision of banks and financial institutions, and (3) large-scale foreign capital inflows. Of these interrelated explanations, the first appears to be the primary cause of the boom-bust cycle in the U.S. residential housing industry. It led to the financial crisis in an environment of lax regulation and supervision of banks and financial institutions, which intermediated large-scale inflows of foreign capital to finance large, sustained budget deficits. The U.S. financial crisis engulfed the global economy from 2007 to 2009. Its consequences continue to be felt internationally, especially in the context of the debate on the role of monetary policy in reviving an economy in recession in a low-inflationary environment. The body of literature that has emerged since the peak of the financial crisis suggests that the monetary and fiscal stimuli, aimed at rescuing the U.S. and other major economies from the recession, had limited effect. The key lesson that can be drawn from the U.S. financial crisis in a global setup is that rules-based monetary and fiscal policies can be more effective at not creating a boom-bust level of volatility in one or more economies. In addition, this paper concurs with the view that rules-based monetary and fiscal policies should be associated with improved financial regulation and supervision, in order to maintain global financial stability under the current regime of deregulated global capital markets.

Strategy implementation is considered as an essential part of strategic planning because it translates the chosen strategy into organizational action. Considering its high failure rates, substantial attention should be given to strategy implementation, especially in non-government organizations, as most past studies have focused on issues prevailing in profit-making entities and the public sector. Thus, this becomes the aim of this paper to investigate factors influencing strategy implementation in non-government organizations in Brunei. In order to answer the research aim, a structured survey was conducted, and both descriptive inference statistical analysis techniques were used to analyze the data. The study concludes that organizational structure and leadership have a strong relation to the strategy implementation in non-government organizations; it has also been revealed that organizational culture and external factors do not influence strategy implementation. Not only that the results of the study can validate previous research studies, but also they can help managers and practitioners to understand how the four variables identified in the study can influence strategy implementation within their organization.

This conceptual paper contributes to the study of moral and immoral organizational development by combining two different perspectives: organizational learning (OL) and the worldview of Islam. The OL perspective, particularly Crossan, Lane and White’s (1999) 4I OL framework, outlines four sub-learning processes involved in strategic renewal spanning the individual, group and organizational levels. Then, the framework is recast in the light of the worldview of Islam, particularly on the natural connection between learning and moral development. From an Islamic perspective, knowledge is soteriological and plays a crucial role in the ‘purification of the heart’, i.e. individual moral development. However, corruption of knowledge can also occur, which then leads to corruption of the ‘heart’, i.e. individual immoral development. This then has profound implications for the 4I OL framework. As a result, a reconceptualized framework is conceived called ‘OL by hearts’, which outlines the strategic moral & immoral development of individuals, groups and the organization.

In 2015 ASEAN has become a community which rests on three pillars: political-security, economic and social-cultural (Jetin and Mikic, 2016). The underlying assumption is that economic development will be fostered by a regional integration deepening, namely a “single market and single production base” which should lead to a convergence of social-cultural development thanks to a catching up process of the late-comers and poorest member states vis-à-vis the more advanced ASEAN Member States (AMS) (Jetin, B. 2016a). This implies a convergence of living standards and a strong decline of poverty. The purpose of this paper is precisely to verify the existence of such a process of convergence among AMS and the nature of this convergence. Which countries are converging? How did poverty evolve and what is the social dynamics implied? Section 1 checks if the existence of ASEAN has favoured a process of convergence of living standards or in other terms a reduction of inequality between countries. In section 2, we show that in several ASEAN countries, absolute poverty has receded but has been replaced by relative, poverty which creates its own set of expectations and potential frustrations. Finally, in section 3, we focus on the emergence of the middle classes and their potential effect on the socio-economic dynamic of ASEAN countries.

The purpose of this research is to analyse the role of Koperasi Wana Lestari Menoreh (KWLM) in implementing certification, the role in Community Economic Development and the role of external parties to develop the KWLM it-self. This research is qualitative with a case study method at KWLM with five subjects as a member of KWLM and five subjects as a non-member of KWLM. Interviews were conducted in-depth using semi-structured questions. Data and information use key informants and reviewed by several experts. This study concludes that, first, KWLM has met FSC certification standards in accordance with the demands of the world market and consumers. Next, regarding community economic development, there are several principles according to Bruce (2001) that need to be improved in KWLM including the need for a comprehensive strategy, building human resources, building local capacity, integrating economic objectives, and empowering communities. Finally, the role of external parties, namely PT. Solusi Bisnis Indonesia (SOBI) is needed for the continuation of KWLM. Especially in bridging the certification process (FSC and SVLK) forest products and marketing KWLM member timber.