TY - JOUR
T1 - Asia's Third Giant
T2 - A Survey of the Indonesian Economy
AU - Hill, Hal
N1 - Publisher Copyright:
© 2018 Economic Society of Australia
PY - 2018/12
Y1 - 2018/12
N2 - This paper surveys the Indonesian economy and the drivers of socioeconomic development over the past half-century. It highlights the country's rapid economic development in the face of unfavourable ‘initial conditions’. We examine episodes in economic development, in particular comparing and contrasting the two main sub-periods, of high economic growth during the authoritarian Suharto era, 1966–98, and moderate economic growth during the democratic era since 1999. The paper emphasises the importance of sound macroeconomic management, economic openness, inclusive social progress and institutional development. For all the challenges that Indonesia faces, and its unfinished reform agenda, the major conclusion is one of development success, broadly defined.
AB - This paper surveys the Indonesian economy and the drivers of socioeconomic development over the past half-century. It highlights the country's rapid economic development in the face of unfavourable ‘initial conditions’. We examine episodes in economic development, in particular comparing and contrasting the two main sub-periods, of high economic growth during the authoritarian Suharto era, 1966–98, and moderate economic growth during the democratic era since 1999. The paper emphasises the importance of sound macroeconomic management, economic openness, inclusive social progress and institutional development. For all the challenges that Indonesia faces, and its unfinished reform agenda, the major conclusion is one of development success, broadly defined.
UR - http://www.scopus.com/inward/record.url?scp=85055140934&partnerID=8YFLogxK
U2 - 10.1111/1475-4932.12439
DO - 10.1111/1475-4932.12439
M3 - Article
SN - 0013-0249
VL - 94
SP - 469
EP - 499
JO - Economic Record
JF - Economic Record
IS - 307
ER -