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The Best of Times and the Worst of Times: Indonesia and Economic Crises

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  • Hal Hill
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Abstract

This paper examines the experience of Indonesia during two major crisis episodes, the 1997-98 Asian financial crisis and the 2008-09 global economic recession. In the first episode, Indonesia experienced a deep economic and political crisis, while in the second the impacts were very mild. The paper examines various explanations of these large differences, focused in particular on the contrasting hypotheses of 'good management' and 'good luck'. The comparative Southeast Asian experience is also analyzed.

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File URL: https://crawford.anu.edu.au/acde/publications/publish/papers/wp2012/wp_econ_2012_03.pdf
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Bibliographic Info

Paper provided by The Australian National University, Arndt-Corden Department of Economics in its series Departmental Working Papers with number 2012-03.

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Length: 27 pages
Date of creation: 2012
Date of revision:
Handle: RePEc:pas:papers:2012-03

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Keywords: Indonesia; Southeast Asia; crises;

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  1. M. Chatib BASRI & Hal HILL, 2011. "Indonesian Growth Dynamics," Asian Economic Policy Review, Japan Center for Economic Research, vol. 6(1), pages 90-107, 06.
  2. Carmen M. Reinhart & Kenneth S. Rogoff, 2011. "A Decade of Debt," NBER Working Papers 16827, National Bureau of Economic Research, Inc.
  3. Muhammad Chatib Basri & Reza Yamora Siregar, 2009. "Navigating Policy Responses at the National Level in the Midst of the Global Financial Crisis: The Experience of Indonesia," Asian Economic Papers, MIT Press, vol. 8(3), pages 1-35, October.
  4. Jay K. ROSENGARD & A. PRASETYANTOKO, 2011. "If the Banks are Doing So Well, Why Can't I Get a Loan? Regulatory Constraints to Financial Inclusion in Indonesia," Asian Economic Policy Review, Japan Center for Economic Research, vol. 6(2), pages 273-296, December.
  5. Hal Hill, 2000. "Indonesia: The Strange and Sudden Death of a Tiger Economy," Oxford Development Studies, Taylor and Francis Journals, vol. 28(2), pages 117-139.
  6. Hal Hill & Jayant Menon, 2011. "Reducing Vulnerability in Transition Economies: Crises and Adjustment in Cambodia," Departmental Working Papers 2011-08, The Australian National University, Arndt-Corden Department of Economics.
  7. Carmen M. Reinhart & Kenneth S. Rogoff, 2009. "This Time Is Different: Eight Centuries of Financial Folly," Economics Books, Princeton University Press, edition 1, volume 1, number 8973, March.
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