This volume goes beyond a narrow conceptualization of macroeconomic stability and explores the link between socio-economic policies, structural transformation and inclusive development. It rests on three thematic pillars: the limits of conventional macroeconomics; the long run agenda of structural transformation and the development of capabilities.
Reinventing Indonesia presents an insider's view of the tumultuous transition that took place in Indonesia from 1997 to 2004. This was a period of unprecedented changes in democratized governance and decentralizing power throughout the country amidst significant economic turmoil. The results of these changes were not pre-ordained, but were the result of the social forces unleashed by the Asian Financial Crisis and the end of the New Order as well as the deft guidance of key policymakers. The book also examines the origins of the economic crisis of the late 1990s in Indonesia and the actions taken to address the crisis during those difficult years.The authors were directly involved in many of the events recounted in this book, particularly Ginandjar Kartasasmita through his career in the Indonesian government under various ministerial positions. Thus, the book provides insights that could only come from those directly involved in the decision-making. It also explains the transitions that occurred in Indonesia in the context of academic theories of democratic transition and consolidation, thereby adding to the body of knowledge in this area. The Indonesian story holds lessons, therefore, for the management of financial crisis, and for the urgency of reform and development of economic and political institutions.
This volume is a collection of chapters on the Indonesian economy under Abdurrahman Wahid (popularly known as Gus Dur). Contributions come from many leading Indonesian commentators and practitioners of the past and present, and there are also chapters from representatives of international assistance agencies. The authors provide a mid-term assessment of the challenges facing Indonesia's economic development and suggestions for future directions. The themes covered are, inter alia, overall political and macroeconomic stability, bank and corporate restructuring, decentralization, corruption, and socio-economic trends. This book will be of interest to those wishing to assess the varying perspectives held by Indonesian officials and commentators, officials from multilateral agencies, and academics, in a single volume.
Economic growth is the most important determinant of poverty reduction. But countries with similar rates of growth can experience different poverty reduction rates.
This book contains a collection of papers on various aspects of Indonesia's economic and its industrial development. It discusses the early independence period in the 1950s; the Soeharto era (1966-1998); and the ensuing two economic crises, namely the Asian Financial Crisis of 1997/98 and the Global Financial Crisis of 2008.
The book focuses on Indonesia's most pressing labor market challenges and associated policy options to achieve higher and more inclusive economic growth. The challenges consist of creating jobs for and the skills in a youthful and increasingly better educated workforce, and raising the productivity of less-educated workers to meet the demands of the digital age. The book deals with a range of interrelated topics---the changing supply and demand for labor in relation to the shift of workers out of agriculture; urbanization and the growth of megacities; raising the quality of schooling for new jobs in the digital economy; and labor market policies to improve both labor standards and productivity.
This collection presents the difficult challenges of the new economic era as well as a set of alternative economic policies for managing the open Latin American economies of the early twenty-first century. Ideas that were removed from the reform agenda over the past two decades are seen as critical to the improved economic and social performance that liberalization has so far failed to produce. These ideas include a role for counter-cyclical macroeconomic policies, including restrictions on capital mobility; active productive sector and technological development policies; and the need to pay greater attention not only to social policies, but also to the links between economic policies and social outcomes, in order to guarantee a desirable social performance. This collection sheds new light on issues that were largely overlooked during the reform period, and that must be faced squarely to overcome the deficiencies that Latin America has faced during its phase of liberalization and its dismal economic performance since the Asian crisis.
This text presents an accessible introduction to the most significant problems facing Indonesia and raises issues for further investigations. It addresses such questions as: how has Indonesia managed to remain one country?; and is there a truly national Indonesian culture?
Following the acquisition of its sovereignty from the Netherlands in 1949, Indonesia experienced serious economic and political problems during the 1950s and 1960s, before entering a three-decade-long period of rapid economic growth. Hard-hit by the financial crisis of the late 1990s, Indonesia undertook a wide range of economic and financial reforms. These reforms served to prepare it well for the 2007-08 global financial crisis, through which Indonesia passed relatively unscathed. Drawing on empirical research, this book presents a comprehensive empirical study on the key macroeconomic relations and monetary policy issues in Indonesia. The book analyses monetary, fiscal and exchange-rate policies, looking at their interactions and impacts on the economy. It demonstrates how important macroeconomic management for monetary and financial stability is to sustained national economic growth and development. Data from the 1970s is compared and contrasted with 1950s data to analyse macroeconomic policies and issues in an historical context. Statistical and econometric techniques are juxtaposed with general empirical results to supplement informative discussion of macroeconomic and monetary developments. This book is a useful contribution to studies on macroeconomics and international development, as well as Southeast Asian studies.
This book establishes that a tension exists between how we frame democratisation and the conclusions we arrive at. It demonstrates how and why interpreting ambiguity matters in the study of Indonesia's post-authoritarian settlement and highlights the need for dialogue with proponents of social conflict theory.