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The Coordinating Ministry for Economic Affairs (Indonesian: Kementerian Koordinator Bidang Perekonomian) is an Indonesian government ministry in charge of planning and policy co-ordination, as well as synchronisation of policies in the field of economics.
The origin of ORTKP-EKM can be traced back to the foundation of Economic Research Center (Pusat Penelitian Ekonomi, PPE) which was founded on 1962.The PPE was a unit of Indonesian Council of Sciences (Majelis Ilmu Pengetahuan Indonesia, MIPI), predecessor of Indonesian Institute of Sciences (Lembaga Ilmu Pengetahuan Indonesia, LIPI).
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Pancasila economics (Indonesian: Ekonomi Pancasila), also known as "Indonesian populist economics" (Indonesian: Ekonomi kerakyatan Indonesia), is an economic system which aims to reflect the five principles of Pancasila. [1] The term "Pancasila economy" first appeared in an article by Emil Salim in 1967. [2]
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth.It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress.
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In economics, capital goods or capital are "those durable produced goods that are in turn used as productive inputs for further production" of goods and services. [1] A typical example is the machinery used in a factory.