Impact of the Covid-19 Shock on Banking and Corporate Sector Vulnerabilities in Indonesia

IF 2 2区经济学 Q1 AREA STUDIES

Bulletin of Indonesian Economic Studies Pub Date : 2021-05-04 DOI:10.1080/00074918.2021.1956397

Reza Y. Siregar, A. Gunawan, Adhi N. Saputro

引用次数: 8

Abstract

Indonesia’s economic contraction eased and its Covid-19 handling improved in the first quarter of 2021, with at least 13% of the targeted population receiving their first vaccination by the third week of June. The economic improvement was driven by external sectors, but the pace of the recovery differed considerably across sectors. This Survey looks at the balance sheets of corporations and the banking sector in the midst of the pandemic. We find that the worsening of corporate balance sheets may require government intervention to prevent liquidity problems from turning into solvency problems. While the banks’ capital position remains adequate, the deterioration of loan quality, reflecting real sector conditions, is worse than it appears. Recent stress testing of the banking sector confirms the potential vulnerabilities in the sector. We end the article by highlighting policies the government could consider to position Indonesia for a post-pandemic future, particularly over the next two years.

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新冠肺炎冲击对印度尼西亚银行和企业部门脆弱性的影响

2021年第一季度，印度尼西亚的经济收缩有所缓解，其对新冠肺炎的处理有所改善，至少13%的目标人口在6月第三周前接种了第一针疫苗。经济改善是由外部部门推动的，但各部门的复苏速度差异很大。这项调查着眼于疫情期间企业和银行业的资产负债表。我们发现，企业资产负债表的恶化可能需要政府干预，以防止流动性问题转化为偿付能力问题。虽然银行的资本状况仍然充足，但反映实际行业状况的贷款质量恶化比表面上更糟。最近对银行业的压力测试证实了该行业的潜在脆弱性。我们在文章结尾强调了政府可以考虑的政策，以使印尼在疫情后的未来，特别是在未来两年。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Bulletin of Indonesian Economic Studies Multiple-

CiteScore

9.20

自引率

9.80%

发文量

期刊介绍： The Bulletin of Indonesian Economic Studies, a peer-reviewed journal published by the Indonesia Project at The Australian National University"s College of Asia and the Pacific, fills a significant void by providing a well respected outlet for high-quality research on any and all matters pertaining to the Indonesian economy, and touching on closely related fields such as law, the environment, government and politics, demography, education and health. In doing so, it has played an important role in helping the world, and Indonesians themselves, to understand Indonesia.