Labor force with high education is crucial to shift the existing majority of labor-intensive/low-technology and resource-based industry up to the middle or high technology industry. 24. The development of human capital would lift up the productivity level of the labor force, which would in turn enhance Indonesia’s competitive advantage, which is an important prerequisite to excel within the current ASEAN Economic Community Era. 25.
Some researchers have also suggested that regulatory margin requirements, an equivalent of banks’ capital requirements, could be considered for shadow banking institutions.19 This would reduce the risk of fire sales and the resulting loss spirals which were experienced during the global financial crisis both in banks and shadow banks.