 Indonesia After the Asian Crisis*Hal Hill and Takashi Shiraishi Asian Economic Policy Review, 2007, vol. 2, issue 1, 123-141 Abstract: Indonesia was deeply affected by the 1997–1998 crisis, more so than its East Asian neighbors. Its economic contraction was deeper and more prolonged. It was the only one to experience a (temporary) loss of macroeconomic control. It also suffered “twin crises,” in the sense that its serious economic and financial problems were accompanied by regime collapse. Consequently, recovery was a slow and complex process, as new institutions had to be created, and old ones reformed under successive short‐lived administrations. But this process is largely over. The directly elected president with a strong popular mandate is in power. The new institutional framework for economic policy‐making is in place. Macroeconomic stability has been restored. Although growth has yet to return to pre‐crisis levels, by 2004 per capita income and poverty incidence had recovered to levels prevailing in the mid‐1990s, and in the circumstances economic recovery has arguably proceeded about as quickly as could reasonably have been expected. Date: 2007 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:asiapr:v:2:y:2007:i:1:p:123-141 Ordering information: This journal article can be ordered from Access Statistics for this article Asian Economic Policy Review is currently edited by Takatoshi Ito, Akira Kojima, Colin McKenzie and Shujiro Urata More articles in Asian Economic Policy Review from Japan Center for Economic Research Contact information at EDIRC. |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.