By considering an economy in which there are traded and nontraded goods, wealth is held in the form of domestic money, bonds, or foreign bonds, and the foreign exchange market is of the dual rates regime with neutral intervention by the authorities, this paper shows that the financial exchange...

The role of institutions in economic growth has recently begun to receive greater attention in academic circles. Although the impact of institutions has been acknowledged by most, definitive conclusions still remain a question, particularly given the problem of endogeneity. We use panel least...

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Anne Booth (1998), The Indonesian Economy in the Nineteenth and Twentieth Centuries: A History of Missed Opportunities, Macmillan, London, and St Martin's Press, New York, pp. xvi + 377. Paper: US$ 19.95; cloth: US$ 79.95. J. Thomas Lindblad (1998), Foreign Investment in Southeast Asia in the...

This article examines trends in and determinants of total factor productivity (TFP) in 28 manufacturing industries in Indonesia over the period 1975-93. The reforms of the mid-1980s appeared to have resulted in a significant acceleration of TFP growth. Among the inter-industry determinants of...