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Indonesia: The Strange and Sudden Death of a Tiger Economy

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  • Hal Hill

Abstract

Among the East Asian crisis economies, Indonesia has been by far the worst affected. Its economic contraction has been about twice as great as the next most affected economy, Thailand. It is the only crisis economy to experience serious inflation. Its political turmoil and social tension have also obviously been much deeper than elsewhere. Finally, unlike Thailand, the early warning indicators of a looming crisis were much less obvious. This paper seeks to explain why Indonesia's crisis has been so much worse than its neighbours.

Suggested Citation

  • Hal Hill, 2000. "Indonesia: The Strange and Sudden Death of a Tiger Economy," Oxford Development Studies, Taylor & Francis Journals, vol. 28(2), pages 117-139.
  • Handle: RePEc:taf:oxdevs:v:28:y:2000:i:2:p:117-139 DOI: 10.1080/713688310
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    Cited by:

    1. Mitsuhiko Kataoka, 2016. "Interprovincial efficiency differentials in Indonesia's pre-and post-crisis economy," ERSA conference papers ersa16p412, European Regional Science Association.
    2. Li, Jie & Rajan, Ramkishen S., 2006. "Can High Reserves Offset Weak Fundamentals? A Simple Model of Precautionary Demand for Reserves," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, pages 317-328.
    3. Ali M. Kutan & Brasukra G. Sudjana, 2004. "Worsening of the Asian Financial Crisis: Who is to Blame?," William Davidson Institute Working Papers Series 2004-658, William Davidson Institute at the University of Michigan.
    4. Camargo, Jhean Steffan Martines de & Gala, Paulo, 2017. "The resource curse reloaded: revisiting the Dutch disease with economic complexity analysis," Textos para discussão 448, FGV/EESP - Escola de Economia de São Paulo, Getulio Vargas Foundation (Brazil).
    5. Mushed, Syed Mansoob & Tadjoeddin, Mohammad Zulfan, 2015. "Political economy of the Indonesian mass killing of 1965-1966," MPRA Paper 64878, University Library of Munich, Germany.
    6. Beetsma, Roel & Bluhm, Benjamin & Giuliodori, Massimo & Wierts, Peter, 2011. "From First-Release to Ex-Post Fiscal Data: Exploring the Sources of Revision Errors in the EU," CEPR Discussion Papers 8413, C.E.P.R. Discussion Papers.
    7. Roehlano M. Briones & Jesus Felipe, 2016. "Agriculture and Structural Transformation in Developing Asia: Review and Outlook," Working Papers id:8696, eSocialSciences.
    8. Huff, W. G. & Dewit, G. & Oughton, C., 2001. "Credibility and Reputation Building in the Developmental State: A Model with East Asian Applications," World Development, Elsevier, vol. 29(4), pages 711-724, April.
    9. Basri, Muhammad Chatib, 2013. "A Tale of Two Crises: Indonesia’s Political Economy," Working Papers 57, JICA Research Institute.
    10. Ali Kutan & Brasukra Sudjana, 2003. "Investor reaction to IMF actions in the indonesian financial crisis," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 6(3), pages 181-190.
    11. Eng, Pierre van der, 2014. "Mining and Indonesia’s Economy: Institutions and Value Adding, 1870-2010," PRIMCED Discussion Paper Series 57, Institute of Economic Research, Hitotsubashi University.
    12. Masagus M. Ridhwan & Henri L. F. Groot & Piet Rietveld & Peter Nijkamp, 2014. "The Regional Impact of Monetary Policy in Indonesia," Growth and Change, Wiley Blackwell, vol. 45(2), pages 240-262, June.
    13. Ramstetter, Eric D., 2014. "Exporting, Education, and Wage Differentials between Foreign Multinationals and Local Plants in Indonesian and Malaysian Manufacturing," AGI Working Paper Series 2014-03, Asian Growth Research Institute.
    14. Reiny IRIANA & Fredrik SJÖHOLM, 2002. "Indonesia'S Economic Crisis: Contagion And Fundamentals," The Developing Economies, Institute of Developing Economies, vol. 40(2), pages 135-151, June.
    15. Artidiatun Adji & James Alm, 2016. "Testing for Ricardian Equivalence in Indonesia," Working Papers 1616, Tulane University, Department of Economics.
    16. ., 2013. "Explaining Success and Failure in Economic Development," Chapters,in: World Economic Performance, chapter 9, pages 227-267 Edward Elgar Publishing.
    17. Takanori Ago & Tadashi Morita & Takatoshi Tabuchi & Kazuhiro Yamamoto, 2017. "Endogenous labor supply and international trade," International Journal of Economic Theory, The International Society for Economic Theory, pages 73-94.
    18. Hal Hill, 2012. "The Best of Times and the Worst of Times: Indonesia and Economic Crises," Departmental Working Papers 2012-03, The Australian National University, Arndt-Corden Department of Economics.
    19. Sjöholm, Fredrik, 1999. "Economic Recovery in Indonesia: The Challenge of Combining FDI and Regional Development," SSE/EFI Working Paper Series in Economics and Finance 347, Stockholm School of Economics.
    20. Daaniel Vertesy & Adam Szirmai, 2010. "Interrupted Innovation: Innovation System Dynamics in Latecomer Aerospace Industries," Globelics Working Paper Series 2010-02, Globelics - Global Network for Economics of Learning, Innovation, and Competence Building Systems, Aalborg University, Department of Business and Management.
    21. Briones, Roehlano & Felipe, Jesus, 2013. "Agriculture and Structural Transformation in Developing Asia: Review and Outlook," ADB Economics Working Paper Series 363, Asian Development Bank.
    22. Temple, Jonathan, 2001. "Growing into Trouble: Indonesia After 1966," CEPR Discussion Papers 2932, C.E.P.R. Discussion Papers.
    23. Resosudarmo, Budy P. & Abdurohman, 2011. "Green Fiscal Policy and Climate Mitigation in Indonesia," Working Papers 249532, Australian National University, Centre for Climate Economics & Policy.
    24. Haryo Aswicahyono & Hal Hill, 2015. "Is Indonesia Trapped in the Middle?," Discussion Paper Series 31, Department of International Economic Policy, University of Freiburg, revised Aug 2015.
    25. Leszek Balcerowicz & Andrzej Rzonca, 2015. "Puzzles of Economic Growth," World Bank Publications, The World Bank, number 20601.

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