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Even though the capital market has existed since 1912, the development and growth of the capital market has not gone as expected, and in some periods capital market activity has even experienced a vacuum. This was caused by several factors such as World War I and II, the transfer of power from the colonial government to the government of the Republic of Indonesia, and various conditions which caused stock exchange operations to not run as they should. 

The government of the Republic of Indonesia reactivated the capital market in 1977, and several years later the capital market experienced growth in line with various incentives and regulations issued by the government.