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Winners and Losers during a Deep Economic Crisis: Firm-level Evidence from Indonesian Manufacturing

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Author Info
Dionisius Narjoko
Hal Hill

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Abstract

What happens to firms during periods of deep economic crisis? Depending on the nature of the crisis, the general effects are well known. However, owing to data availability, there are relatively few detailed firm-level studies. With the aid of an unusually rich database, the present paper investigates the effects of Indonesia's 1997-1998 crisis on manufacturing establishments. Consistent with studies of other crisis episodes, foreign ownership and prior export orientation are found to be highly significant determinants of survival and recovery. The effects of firm size are ambiguous. The industry in which firms are located, in particular its factor proportions, is also found to be significant. Copyright 2007 The Authors
Journal compilation 2007 East Asian Economic Association and Blackwell Publishing Ltd. .

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Article provided by East Asian Economic Association in its journal Asian Economic Journal.

Volume (Year): 21 (2007)
Issue (Month): 4 (December)
Pages: 343-368
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Handle: RePEc:bla:asiaec:v:21:y:2007:i:4:p:343-368

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Haryo Aswicahyono & Dionisius Narjoko & Hal Hill, 2008. "Industrialization after a Deep Economic Crisis: Indonesia," Departmental Working Papers 2008-18, Australian National University, Economics RSPAS. [Downloadable!]
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