The objective of our study is to review and debate selected factors frequently underlined as the foundations to the strength and the resilient of economic growth in Indonesia in recent years. We first examine closely the compositions of the country’s exports to particularly highlight the role...

Whether a real devaluation ultimately proves to be expansionary or contractionary depends on whether the boost given to the exportables sector offsets any possible output-depressing effects that may accompany the expenditure-switching policy. Failure of the exportables sector to adequately...

Having initiated reforms in its financial sector in late 1997, the government of Indonesia introduced a new central bank independence act in early 1999. The next task for the government of Indonesia is to devise a safety net system for the financial sector. This study draws essential lessons...

Recent studies have consistently shown that the East-Asian crisis-stricken countries have suffered from different degrees of credit crunch, particularly during the early stages of the crisis. However, only few of them have looked closely into the breakdowns of the loans and the roles of...