This study aims to evaluate the relationship between financial resilience, exchange rate, inflation, and economic growth from 1996 to 2022 using secondary data from the World Bank. The analysis method uses vector autoregressive to understand the causality dynamics between these variables. The results show that past economic growth positively impacts current economic conditions, but an increase in the exchange rate can hinder economic growth. The exchange rate also tends to be influenced by previous values, but high economic growth does not always increase the exchange rate. Previous conditions significantly affect financial resilience and can be strengthened by a strong currency. Meanwhile, inflation has an inverse relationship with economic growth, where past inflation seems to suppress current inflation, which price stabilization policies can cause. From an institutional economics perspective, this study provides an understanding of the interaction between various economic factors in the structural framework and policies that regulate economic activities. The impulse response function (IRF) shows that economic growth can react strongly to sudden changes, although this reaction may not last long. The exchange rate fluctuates with economic changes, reflecting market optimism and uncertainty. Financial resilience may be strong initially but may weaken over time, indicating the need for policies to strengthen the financial system to ensure economic stability. Furthermore, the role of social capital in economic resilience is highlighted as it can amplify the positive effects of a robust institutional framework by fostering trust and collaboration among economic actors. Inflation reacts differently to economic changes, challenging policymakers to balance growth and price stability. Overall, the IRF provides insights into how economic variables interact with each other and react to sudden changes, albeit with some uncertainty in the estimates. The forecast error decomposition variance (FEVD) analysis in this study reveals that internal factors initially influence economic growth, but over time, external factors such as the exchange rate, financial resilience, and inflation come into play. The exchange rate, which was initially volatile due to internal factors, becomes increasingly influenced by economic growth, indicating a close relationship between the economy and the foreign exchange market. From an institutional economics perspective, financial resilience, which was initially stable due to internal factors, becomes increasingly dependent on global economic conditions, suggesting the importance of a solid institutional framework for maintaining economic stability. In addition, inflation, which was initially explained by economic growth and exchange rates, has gradually become more influenced by financial resilience, indicating the importance of effective monetary policy in controlling inflation. This study highlights the importance of understanding how economic variables influence each other for effective economic governance. Integrating institutional economics and social capital perspectives provides a comprehensive framework for enhancing financial resilience and promoting sustainable economic development in Indonesia.

The objective of this paper is to assess the influence of various types of crises, including the Subprime, COVID-19, and political crises, on corporate governance attributes, regulations, and the association with bank risk. The consecutive occurrences of crises have significantly impacted the global economy, causing substantial disruptions across various facets of the international banking system. Our hypothesis posits that these crises not only influence governance characteristics and regulations but also impact their correlation with the risk and financial distress experienced by banks. Our study is conducted within the Tunisian context spanning from 2000 to 2021, utilizing a GMM regression on a dataset comprising 221 bank-year observations. Our findings indicate that crises have a discernible effect on the relationship between corporate governance and bank risk, as well as between regulation and bank risk. Our results are strong in a range of sensitivity checks, including the use of alternative proxies to measure the bank risks and corporate governance metrics.

Raising public awareness of maritime risk and disseminating information about disaster prevention and reduction are the most frequent ways that the government incorporates citizens in marine disaster risk management (DRM). However, these measures are deemed to be insufficient to drive the participation rate. This study aims to understand the participation trend of citizens in marine DRM. On the basis of the theory of citizen participation’s ladder, public participation within marine DRM is categorized into non-participation, tokenistic participation, and substantive participation. Using organization theory, the government’s strategies for encouraging participation are classified into common approach (raising awareness), structural approach (innovating instruments), and cultural approach (developing citizenship). Considering the vignette experiment of 403 citizens in a coastal city of China that has historically been subject to marine disasters, it was found that effectiveness of the strategies, from highest to lowest, are citizenship development, risk education, and instruments innovation. At the individual level, psychological characteristics such as trust in the government, past disaster experience, and knowledge of marine DRM did not significantly influence citizens’ participation preferences. At the government level, even when citizens are informed about new participatory mechanisms and tools, they still tend to be unwilling to share responsibilities. However, self-efficacy and understanding the beneficial outcomes of their participation in marine (DRM) can positively impact the willingness to participate. The results show that to encourage public participation substantively in the marine DRM, it is important to cultivate a sense of civic duty and enhance citizens’ sense of ownership, fostering a closer and more equitable partnership between the state and society.

Indonesia has ratified United Nations Convention on the Law of the Sea 1982 (UNCLOS 1982) through Law No. 17 of 1985 concerning the ratification of the 1982 Law of the Sea Convention, thus binding Indonesia to the rights and obligations to implement the provisions of the 1982 convention, including the establishment of the three Northern-Southern Indonesia’s Archipelagic Sea Lane (ALKI). The existence of the three ALKI routes, including ALKI II, has led to various potential threats. These violations not only cause material losses but, if left unchecked and unresolved, can also affect maritime security stability, both nationally and regionally. The maritime security and resilience challenges in ALKI II have increased with the relocation of the capital, which has become the center of gravity, to East Kalimantan. The research in this article aims to identify and analyze the factors influencing the success of maritime security and resilience strategies in ALKI II. The factors used in this research include conceptual components, physical components, moral components, command and control center capabilities, operational effectiveness, command and control effectiveness, and the moderating variables of resource multiplier management and risk management to achieve maritime security and resilience. This study employed a mixed-method research approach. The factors are modeled using Structural Equation Modeling (SEM) with WarpPLS 8.0 software. Qualitative data analysis used the Soft System Methodology (SSM). The results of the study indicate that the aforementioned factors significantly influence the success of achieving maritime security and resilience in ALKI II.

This paper studies the patent race problem of communication enterprises investing in communication technologies, and constructs a portfolio optimization model which considers the expected returns, investment risks, and replacement costs, in order to achieve the dual goals of maximizing the net investment income of backward enterprises and minimizing the expected investment risk. Through numerical experimental analysis, the optimal investment portfolio strategy under different risk levels and the impact of different risk levels on the net income of lagging company are obtained. The research results show that due to the backward research in the first stage of the backward enterprises, when their own investment decision-making power is relatively high, they can focus on the development of self-interested key technology areas in order to achieve the victory of the patent race.

This study investigates seismic risk and potential impacts of future earthquakes in the Sunda Strait region, known for its susceptibility to significant seismic events due to the subduction of the Indo-Australian Plate beneath the Eurasian Plate. The aim is to assess the likelihood of major earthquakes, estimate their impact, and propose strategies to mitigate associated risks. The research uses historical seismic data and probabilistic models to forecast earthquakes with magnitudes ranging from 6.0 to 8.2 Mw. The Gutenberg-Richter model helps project potential earthquake occurrences and their impacts. The findings suggest that the probability of a major earthquake could occur as early as 2026–2027, with a more significant event estimated to likely occur around 2031. Economic estimates for a 7.8–8.2 Mw earthquake suggest potential damage of up to USD 1.255 billion with significant loss of life. The study identifies key vulnerabilities, such as inadequate building foundations and ineffective disaster management infrastructure, which could worsen the impact of future seismic events. In conclusion, the research highlights the urgent need for comprehensive seismic risk mitigation strategies. Recommendations include reinforcing infrastructure to comply with seismic standards, implementing advanced early warning systems, and enhancing public education on earthquake preparedness. Additionally, government policies must address these issues by increasing funding for disaster management, enforcing building regulations, and incorporating traditional knowledge into construction practices. These measures are essential to reducing future earthquake impacts and improving community resilience.