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Growing into Trouble: Indonesia After 1966

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  • Temple, Jonathan

Abstract

This paper analyses the remarkable growth experience of Indonesia since 1966. Over a thirty-year period, GDP per capita rose more than fourfold, despite unfavourable initial conditions, some weak institutions, and flawed microeconomic policies. The paper attributes this strong performance to a mutually reinforcing combination of political stability, competent macroeconomic policy, and some important instances of good fortune. It explores the origins of good policy and analyses three of the main external shocks. The paper also argues that rapid growth interacted with weak institutions in a way that contributed to the severity of the crisis of 1997-98.

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Bibliographic Info

Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 2932.

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Date of creation: Aug 2001
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Handle: RePEc:cpr:ceprdp:2932

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Related research

Keywords: growth; Indonesia; structural change;

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References

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  1. Leamer, Edward E, 1987. "Paths of Development in the Three-Factor, n-Good General Equilibrium Model," Journal of Political Economy, University of Chicago Press, vol. 95(5), pages 961-99, October.
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  18. William Easterly & Michael Kremer & Lant Pritchett & Lawrence H. Summers, 1993. "Good Policy or Good Luck? Country Growth Performance and Temporary Shocks," NBER Working Papers 4474, National Bureau of Economic Research, Inc.
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  20. Eric Ramstetter, 2000. "Survey of Recent Developments," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 36(3), pages 3-47.
  21. David Cole & Betty Slade, 1998. "Why Has Indonesia's Financial Crisis Been so Bad?," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 34(2), pages 61-66.
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Citations

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Cited by:
  1. Mullen, Kathleen & Sun, Dongsheng & Thomas, Marcelle & Orden, David & Gulati, Ashok, 2004. "Agricultural Policy Interventions In Developing Countries: Mapping The Nature, Degree And Progress Of Reforms," 2004 Annual meeting, August 1-4, Denver, CO 20081, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  2. 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.
  3. 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.
  4. Dijk van, M., 2003. "Industry Evolution in Developing Countries: the Indonesian Pulp and Paper Industry," Eindhoven Center for Innovation Studies (ECIS) working paper series 03.02, Eindhoven Center for Innovation Studies (ECIS).

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