Few countries have experienced such sharply fluctuating fortunes as Indonesia. This book offers a balanced analysis, evaluation and explanation of Indonesia's economic performance, from 1967. Hal Hill highlights Indonesia's successes during this period - rapid industrialisation, major achievements in the food crop sector and the adoption, from the mid-1980s, of outward-looking policies. He also draws attention to the challenges facing the country, including the rocky path towards economic reform, the large external debt, regional and ethnic disparities, and the need for a transparent and predictable policy environment. In this second edition, an extended postscript takes the story through the dramatic turnaround and political and economic crises since 1997, including the downfall of Soeharto.
• Updated to include Indonesia's political and economic woes up to and including 1999 • Was the first attempt to provide an integrated treatment of the Indonesian economy since 1966 • Focuses on broader questions pertaining to the Southeast Asian economy in general
1. Introduction; 2. An overview of economic development since 1966; 3. Money and finance; 4. Fiscal policy; 5. International dimensions; 6. The state and public policy: ideology and intervention; 7. Agricultural modernization; 8. Industrial transformation; 9. The services revolution; 10. Poverty, inequality and social progress; 11. The regional dimension; 12. Conclusion: Looking to the future; 13. Update: An unforeseen crisis.