TY - JOUR
T1 - Winners and losers during a deep economic crisis
T2 - Firm-level evidence from Indonesian Manufacturing
AU - Narjoko, Dionisius
AU - Hill, Hal
PY - 2007/12
Y1 - 2007/12
N2 - What happens to firms during periods of deep economic crisis? Depending on the nature of the crisis, the general effects are well known. However, owing to data availability, there are relatively few detailed firm-level studies. With the aid of an unusually rich database, the present paper investigates the effects of Indonesia's 1997-1998 crisis on manufacturing establishments. Consistent with studies of other crisis episodes, foreign ownership and prior export orientation are found to be highly significant determinants of survival and recovery. The effects of firm size are ambiguous. The industry in which firms are located, in particular its factor proportions, is also found to be significant.
AB - What happens to firms during periods of deep economic crisis? Depending on the nature of the crisis, the general effects are well known. However, owing to data availability, there are relatively few detailed firm-level studies. With the aid of an unusually rich database, the present paper investigates the effects of Indonesia's 1997-1998 crisis on manufacturing establishments. Consistent with studies of other crisis episodes, foreign ownership and prior export orientation are found to be highly significant determinants of survival and recovery. The effects of firm size are ambiguous. The industry in which firms are located, in particular its factor proportions, is also found to be significant.
KW - Crisis
KW - Indonesia
KW - Industrial adjustment
KW - Manufacturing
UR - http://www.scopus.com/inward/record.url?scp=38049025884&partnerID=8YFLogxK
U2 - 10.1111/j.1467-8381.2007.00261.x
DO - 10.1111/j.1467-8381.2007.00261.x
M3 - Article
SN - 1351-3958
VL - 21
SP - 343
EP - 368
JO - Asian Economic Journal
JF - Asian Economic Journal
IS - 4
ER -