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Economic Growth And Exchange Rate: A New Road Ahead For Indonesia

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  • CHONG YAH LIM

Abstract

This short article advocates the further development of Indonesia through an export-oriented industrialization policy. It opines that it is only through this policy that the perennial depreciation of the Indonesian exchange rate, including through capital flight, can be stopped. The article also advocates a twin-engine approach, with the State be responsible for the efficient supply of public goods, and the private sector, including the active participation of foreign investment, be encouraged, actively, for the supply of private goods, with concentration on export-oriented manufactured goods. The social and educational system will have to give support to this fundamental policy shift.

Suggested Citation

  • Chong Yah Lim, 2015. "Economic Growth And Exchange Rate: A New Road Ahead For Indonesia," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 60(02), pages 1-6.
    • Handle: RePEc:wsi:serxxx:v:60:y:2015:i:02:n:s0217590815500101
    DOI: 10.1142/S0217590815500101
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    Keywords

    Miracle economies; exchange rate crises; export-orientation; industrialization policy and exchange rate; Arthur Lewis' Model; ADB Model; the twin-engine model; role of public and private sectors; globalized world economy; F20; H41; H44; N65; O14; O23; O53; P1;
    All these keywords.

    JEL classification:

    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
    • H44 - Public Economics - - Publicly Provided Goods - - - Publicly Provided Goods: Mixed Markets
    • N65 - Economic History - - Manufacturing and Construction - - - Asia including Middle East
    • O14 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
    • P1 - Political Economy and Comparative Economic Systems - - Capitalist Economies

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