Indonesia: Building an Inclusive Development Model

Tulus T.H. Tambunan

Chapter 7 in Moving Toward A New Development Model For East Asia-The Role of Domestic Policy and Regional Cooperation, pp 223-254 from Economic Research Institute for ASEAN and East Asia (ERIA)

Abstract: More than ten years ago, Indonesia was hit by an extremely severe economic crisis ever happened since the country’s independence in 1945, known as the Asian financial crisis, which led Indonesian economy to an economic recession with -13 % of economic growth in 1998. Since then, Indonesia has become a different country. It has embarked upon a far-reaching institutional transformation and has become one of the region’s most vibrant democracies. Wide reforms in all economic areas including trade, finance and industry have been carried out, and development strategy has been shifted from ‘exclusive’ to ‘inclusive’. The main aim of this study is to examine the process of change in Indonesian development strategy from ‘exclusive’ oriented before the Asian financial crisis 1997/98 (during the ‘New Order’ era) towards “inclusive’ oriented. Specifically, it discusses main important ‘inclusive’ policies that have been introduced or implemented so far by the Indonesian government. In addition to this, based on a number of indicators of inclusive development in the literature, the study also proposes an inclusive development index to measure its achievement.

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