Premium
The Indonesian economic crisis and the long road to recovery
Author(s) -
Wie Thee Kian
Publication year - 2003
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1111/1467-8446.t01-1-00050
Subject(s) - indonesian , pessimism , economic recovery , authoritarianism , development economics , economic policy , economics , political science , economy , macroeconomics , politics , democracy , law , philosophy , linguistics , epistemology
This article provides a concise overview of the origins and impact of the 1997–1998 crisis on the Indonesian economy and the tardy process of recovery since. It is pessimistic about the current prospects for speedy recovery due to the inability of the politically weak governments, which succeeded the highly authoritarian Soeharto regime, to take the necessary steps needed to achieve full economic recovery. The article briefly compares this crisis with the economic crises that hit Indonesia during the early 1930s and mid‐1960s, and points to similarities as well as differences.