Title

Indonesian Economic Development: Miracle or Mirage?

Publication Type

Journal Article

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

Publisher

Elsevier

Creative Commons License

Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 4.0 License.

Additional URL

http://econpapers.repec.org/article/eeeasieco/v_3a19_3ay_3a2008_3ai_3a5-6_3ap_3a474-485.htm

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