DOI: 10.14704/nq.2022.20.8.NQ44766

The Financial Services Authority's Regulation Function as a Bestuurshandeling Instrument for Economic Stimulation During a Pandemic

Luthfita Yuliana Nur Yumna Sulistyaningrum, I Gusti Ayu KetutRahmi Handayan

Abstract

This paper has the purpose of investigating: (i) the justifications for the need for economic stimulus policies during the pandemic; and (ii) the role of OJK Regulation Number 11/POJK. 03/2020 as a bestuurshandeling instrumentation for boosting the economy during the epidemic. The government of Indonesia adopted the economic stimulation program as a strategy to improve the economy in response to the impact of the COVID-19 outbreak. As a result, it is worthwhile to investigate the policy parameters and act as a stimulant for the national economy. This study is normative in nature and was done through a document analysis using a statutory and conceptual framework. The study's findings show that: (i) the need for policies to stimulate the economy during a pandemic is driven by the necessity to fulfill the welfare state's role in light of the sociological conditions of the pandemic's impact on society, necessitating an economic stimulus policy instrument; and (ii) the function of OJK Regulation Number 11/POJK. 03/2020 as a bestuurshandeling instrumentation for strengthening the economy during a pandemic is a function of strengthening the economy through credit restructuring and being an indication through the economic risk management safety net

Keywords

Covid-19, Instrumentation, Pandemic, Economy, Stimulus.

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