ECONOMIC GROWTH AND EXCHANGE RATE: A NEW ROAD AHEAD FOR INDONESIA

Chong Yah Lim

The Singapore Economic Review (SER), 2015, vol. 60, issue 02, 1-6

Abstract: This short article advocates the further development of Indonesia through an export-oriented industrialization policy. It opines that it is only through this policy that the perennial depreciation of the Indonesian exchange rate, including through capital flight, can be stopped. The article also advocates a twin-engine approach, with the State be responsible for the efficient supply of public goods, and the private sector, including the active participation of foreign investment, be encouraged, actively, for the supply of private goods, with concentration on export-oriented manufactured goods. The social and educational system will have to give support to this fundamental policy shift.

Keywords: Miracle economies; exchange rate crises; export-orientation; industrialization policy and exchange rate; Arthur Lewis' Model; ADB Model; the twin-engine model; role of public and private sectors; globalized world economy; F20; H41; H44; N65; O14; O23; O53; P1 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1142/S0217590815500101

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