Economic Development and Trade Liberalization: the Indonesian Experience

Scott Fausti and Rony Bishry

No 232235, Economics Staff Papers from South Dakota State University, Department of Economics

Abstract: From 1950 to 1965, Indonesia followed an import substitution industrialization development strategy .. From 1966 to the present, Indonesia has moved toward an export oriented development strategy. This paper tests the predictions of the Heckscher-Ohlin-Samuelson (HOS) model of international trade by comparing Indonesia's economic performance under two contrasting development strategies. The paper concludes that Indonesia's economic performance under the opposing development strategies supports the predictions of the HOS model. Furthermore, the Indonesian experience under the two development strategies supports the "trade as an engine of growth" hypothesis.

Keywords: International Relations/Trade; Public Economics (search for similar items in EconPapers)
Pages: 18
Date: 1994-04-22
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Persistent link: https://EconPapers.repec.org/RePEc:ags:sdsusp:232235

DOI: 10.22004/ag.econ.232235

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