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Indonesia'S Resources Boom In International Perspective: Policy Dilemmas And Options For Continued Strong Growth

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  • Ross Garnaut

Abstract

In the decade to 2011, developments in the Chinese economy gave the world its biggest ever resources boom and set the scene for a resources deflation. The boom generated high incomes and investment in global resources, especially coal. It boosted Indonesian growth and diverted the policy focus from the productivity-raising reforms that are necessary for broad-based growth. Arbitrary interventions reduced the gains from the boom, especially in commodities other than coal, but also diminished the size of the boom and therefore the economic adjustment challenge that faces Indonesia now. Indonesia handled the Dutch disease and related challenges better than some countries and worse than others. Australia and Indonesia are now the world's largest coal exporters, so this comparison receives attention here. The end of the boom can create opportunities for a return to broad-based development, so long as policy settings are favourable to productivity growth and improved economy-wide competitiveness. The fuel-subsidy reforms are a good start.

Suggested Citation

  • Ross Garnaut, 2015. "Indonesia'S Resources Boom In International Perspective: Policy Dilemmas And Options For Continued Strong Growth," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 51(2), pages 189-212, August.
  • Handle: RePEc:taf:bindes:v:51:y:2015:i:2:p:189-212
    DOI: 10.1080/00074918.2015.1061910
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    File URL: http://hdl.handle.net/10.1080/00074918.2015.1061910
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    References listed on IDEAS

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    1. Armida Alisjahbana, 2009. "Revisiting Indonesia’s Sources of Economic Growth and Its Projection Towards 2030," Working Papers in Economics and Development Studies (WoPEDS) 200905, Department of Economics, Padjadjaran University, revised Jul 2009.
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    Cited by:

    1. Shrestha, Rashesh & Coxhead, Ian, 2018. "Export boom, employment bust? The paradox of Indonesia's displaced workers, 2000-14," CEI Working Paper Series 2018-6, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    2. Edwards, Ryan B., 2016. "Mining away the Preston curve," World Development, Elsevier, vol. 78(C), pages 22-36.
    3. repec:taf:bindes:v:54:y:2018:i:1:p:1-24 is not listed on IDEAS
    4. Rashesh Shrestha & Ian Coxhead, 2018. "Can Indonesia Secure a Development Dividend from Its Resource Export Boom?," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 54(1), pages 1-24, January.
    5. repec:eee:rensus:v:101:y:2019:i:c:p:231-247 is not listed on IDEAS
    6. repec:bla:ecorec:v:94:y:2018:i:307:p:469-499 is not listed on IDEAS

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