This is the first paper of a planned 'Indonesia 2049' project, which asks how far Indonesia's economy will have developed 100 years after actual political independence in 1949. We compare dimensions of Indonesia's economy with those of two oil exporters (Mexico and Nigeria), three large populous...

In 2008–09, the USA and the UK undertook quantitative easing to drive interest rates to near zero to combat the global financial crisis, and China increased the growth rate of base money slightly. The resulting credit growth was very slight in the USA and UK but very large in China. The US and...

We attribute the success of China’s monetary-fiscal policies in producing 8.7% growth in 2009 to (1) the capital adequacy ratio requirement was not binding because the banks’ capital had not been reduced by losses on assets like subprime mortgages; (2) the initial fiscal position was sound,...

Indonesia began its war for economic development in 1949 after winning the war for political independence that started in 1945. This is a speculative paper because it is the exploratory paper of the planned Indonesia 2049 project which asks whether Indonesia’s war on economic development would...