Publication Type
Journal Article
Version
publishedVersion
Publication Date
5-2004
Abstract
This paper focuses on a few major developments that took place during the three decades from the late 1960s to the Asian financial crisis. The study finds, in retrospect, that many of the Indonesian economy's weaknesses--now so glaringly apparent--were there all the time. The paper concludes that the Indonesian banking crisis was primarily domestic in nature, more so than the crises in Korea and Thailand. The extent of the failure was much more widespread and probably resulted from a chain of bank runs and bank closings, reinforced by uncertainty and lack of faith in the government's commitment to the IMF program and IMF fumbling.
Keywords
Indonesia; Reforms; Crisis; Corruption; Macroeconomics
Discipline
Asian Studies | Growth and Development
Research Areas
Applied Microeconomics
Publication
Journal of Asian Economics
Volume
9
First Page
474
Last Page
485
ISSN
1049-0078
Identifier
10.1016/j.asieco.2008.09.012
Publisher
Elsevier
Citation
Dowling, John Malcolm and Yap, Chin Fang.
Indonesian Economic Development: Miracle or Mirage?. (2004). Journal of Asian Economics. 9, 474-485.
Available at: https://ink.library.smu.edu.sg/soe_research/849
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://doi.org/10.1016/j.asieco.2008.09.012