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On-Lending In Indonesia: Past Performance And Future Prospects

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  • Blane Lewis

Abstract

On-lending to sub-national governments in Indonesia has a long and generally disappointing history. Among other noteworthy problems, an insufficient amount of funds has been channelled through the system vis-a-vis capital fi nancing needs, and loan repayments have proved poor. Aid agencies and government have recently invested substantial resources in attempts to improve the on-lending system; the resultant newly installed regulatory framework for sub-national borrowing is, however, unlikely to improve outcomes substantially. Developing sub-national government access to private capital markets would appear to constitute the way forward, although this will not come quickly or easily. A positive step in the right direction would be for government and aid agencies to embrace the anticipated change and work together to make the transition a successful one, rather than continue to tinker with reforms at the margin of a moribund system.

Suggested Citation

  • Blane Lewis, 2007. "On-Lending In Indonesia: Past Performance And Future Prospects," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 43(1), pages 35-58.
    • Handle: RePEc:taf:bindes:v:43:y:2007:i:1:p:35-58
    DOI: 10.1080/00074910701286388
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    References listed on IDEAS

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    1. Mila Freire & John Petersen & Marcela Huertas & Miguel Valadez, 2004. "Subnational Capital Markets in Developing Countries : From Theory to Practice," World Bank Publications - Books, The World Bank Group, number 15044, December.
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    Cited by:

    1. Skoufias, Emmanuel & Narayan, Ambar & Dasgupta, Basab & Kaiser, Kai, 2011. "Electoral accountability, fiscal decentralization and service delivery in Indonesia," Policy Research Working Paper Series 5614, The World Bank.
    2. Skoufias, Emmanuel & Narayan, Ambar & Dasgupta, Basab & Kaiser, Kai, 2014. "Electoral accountability and local government spending in Indonesia," Policy Research Working Paper Series 6782, The World Bank.
    3. United Cities and Local Governments, 2011. "Local Government Finance," Books, Edward Elgar Publishing, number 14696.

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