Growing into Trouble: Indonesia After 1966

Jonathan Temple

No 2932, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper analyses the remarkable growth experience of Indonesia since 1966. Over a thirty-year period, GDP per capita rose more than fourfold, despite unfavourable initial conditions, some weak institutions, and flawed microeconomic policies. The paper attributes this strong performance to a mutually reinforcing combination of political stability, competent macroeconomic policy, and some important instances of good fortune. It explores the origins of good policy and analyses three of the main external shocks. The paper also argues that rapid growth interacted with weak institutions in a way that contributed to the severity of the crisis of 1997-98.

Keywords: Indonesia; Growth; Structural change (search for similar items in EconPapers)
JEL-codes: O11 O53 (search for similar items in EconPapers)
Date: 2001-08
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Citations: View citations in EconPapers (5)

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