This book focuses on the Indonesian Financial Service Authority (FSA), which is a newly established authority within Indonesian financial services institutions that has emerged as the ultimate decision-maker for portfolio investment liberalization. In doing so, the book elaborates on how the emergence of the Indonesian FSA has resulted in implementation gaps in Indonesia, in the area of portfolio investment liberalization.

The book reveals that the endowment of an ‘independent and free’ status, as well as the FSA’s power over the Indonesian financial sector, has allowed agents...