Indonesia

Hoe Ee Khor, Diwa C. Guinigundo and Masahiro Kawai ()

Chapter 4 in Trauma to Triumph:Rising from the Ashes of the Asian Financial Crisis, 2022, pp 71-88 from World Scientific Publishing Co. Pte. Ltd.

Abstract: Indonesia, unlike Thailand, had shown no signs of a brewing crisis. However, it would soon be engulfed by an exceptionally virulent crisis, mainly because the financial crisis would trigger a political crisis that would in turn exacerbate financial instability. Hence, the Indonesian narrative is a powerful illustration of how an incipient crisis that seemed containable escalated into one so severe because of the interaction of economic and political forces. Yet, Indonesia overcame the crisis and, in the process, emerged as a well-functioning democracy and emerging market economy.

Keywords: ASEAN+3; Asian Financial Crisis; Global Financial Crisis (search for similar items in EconPapers)
JEL-codes: F02 F3 G01 (search for similar items in EconPapers)
Date: 2022
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