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

  • Hal Hill
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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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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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  1. Prema-chandra Athukorala, 2010. "Malaysian Economy in Three Crises," Departmental Working Papers 2010-12, The Australian National University, Arndt-Corden Department of Economics.
  2. Reinhart, Carmen M. & Rogoff, Kenneth, 2011. "A Decade of Debt," CEPR Discussion Papers 8310, C.E.P.R. Discussion Papers.
  3. M Chatib Basri & Hal Hill, 2010. "Indonesian Growth Dynamics," Departmental Working Papers 2010-10, The Australian National University, Arndt-Corden Department of Economics.
  4. 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, April.
  5. 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.
  6. Prema-chandra Athukorala & Peter G. Warr, 2002. "Vulnerability to a Currency Crisis: Lessons from the Asian Experience," The World Economy, Wiley Blackwell, vol. 25(1), pages 33-57, 01.
  7. 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.
  8. 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.
  9. 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.
  10. Prema-Chandra Athukorala, 2006. "Post-crisis export performance: The Indonesian experience in regional perspective," Bulletin of Indonesian Economic Studies, Taylor & Francis Journals, vol. 42(2), pages 177-211.
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