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MUNICIPAL BONDS AS THE FINANCING STRATEGY FOR URBAN INFRASTRUCTURE: CASE STUDY OF JAKARTA MRT1

Jurnal Keuangan dan Perbankan: Volume 20, Nomor 3, September 2016
Journal from JIPTUNMERPP / 2017-10-03 10:55:48
Oleh : Eko Nur Surachman ; Hadi Setiawan, Diploma 3 of Banking and Finance Merdeka University Malang
Dibuat : 2016-09-01, dengan 0 file

Keyword : Jakarta MRT Project; Municipal Bonds; Infrastructure financing. JEL Classification: R42, H74, H76, G12
Url : http://drive.google.com/file/d/0B0uNqoBLtJGvdl9aZXpFRVZVNzQ/view?usp=sharing

The construction of Jakarta MRT Phase I has been carried out by using funds from foreign debt. Meanwhile, Jakarta MRT Phase II or other local infrastructure projects are still waiting for new funding scheme. One alternative is municipal bonds. This study investigate the possibilities of using municipal bonds to finance urban infrastructure project with the case study of Jakarta MRT Phase I. The analyzed use three perspectives including financial aspect, legal aspect, and Jakarta financial capacity aspect. Financial analysis using discounted cash flow (DCF), net present value (NPV) and internal rate of return (IRR). Secondly, study literature is used in the legal analysis by exploring specific regulations regarding the municipal bonds. Finally, the Jakarta Regional Budget and Jakarta Budget Audit Report is examined to get insight and depth information regarding its financial capacity. The result is municipal bonds are feasible as the source of financing Jakarta MRT Project.

Deskripsi Alternatif :

The construction of Jakarta MRT Phase I has been carried out by using funds from foreign debt. Meanwhile, Jakarta MRT Phase II or other local infrastructure projects are still waiting for new funding scheme. One alternative is municipal bonds. This study investigate the possibilities of using municipal bonds to finance urban infrastructure project with the case study of Jakarta MRT Phase I. The analyzed use three perspectives including financial aspect, legal aspect, and Jakarta financial capacity aspect. Financial analysis using discounted cash flow (DCF), net present value (NPV) and internal rate of return (IRR). Secondly, study literature is used in the legal analysis by exploring specific regulations regarding the municipal bonds. Finally, the Jakarta Regional Budget and Jakarta Budget Audit Report is examined to get insight and depth information regarding its financial capacity. The result is municipal bonds are feasible as the source of financing Jakarta MRT Project.

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PropertiNilai Properti
ID PublisherJIPTUNMERPP
OrganisasiDiploma 3 of Banking and Finance Merdeka University Malang
Nama KontakDra. Wiwik Supriyanti, SS
AlamatJl. Terusan Halimun 11 B
KotaMalang
DaerahJawa Timur
NegaraIndonesia
Telepon0341-563504
Fax0341-563504
E-mail Administratorperpus@unmer.ac.id
E-mail CKOwsupriyanti@yahoo.com

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  • Editor: Wiwik Supriyanti, Dra. SS.