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The Role of Global Actors in the Liberalization of Indonesian Economy through its Financial Institutions

Author

Listed:
  • MS, Shabbir

    (International Islamic University Islamabad, Pakistan)

  • AK, Rehman

    (International Islamic University Islamabad, Pakistan)

  • T, Akhtar

    (University of Punjab, Pakistan)

Abstract

In contrast, the political ideology governing on Indonesia seemed to be isolated from any required economic reform. This paper investigates the dynamic role of global actors after liberalization of Indonesian Economy. However, these global actors such as World Bank, International Monetary Fund (IMF), World Trade Organization (WTO), a group of twenty largest economies called as G 20 and Association of Southeast Asian Nations (ASEAN) play an important role in developed and under developed countries of the world. The international market exercises its rules to regulate any new and existing business including the international business market that is free to enter in this globalization era, with a campaign that aims to benefit all people as the effect trickles down. However, it has been questioned why Indonesia extended this commitment, despite the country still suffering from its own foreign loans that floated up to USD 251.2 billion at the end of 2012.

Suggested Citation

  • MS, Shabbir & AK, Rehman & T, Akhtar, 2016. "The Role of Global Actors in the Liberalization of Indonesian Economy through its Financial Institutions," Journal of Internet Banking and Commerce, , vol. 21(01), pages 01-11, April.
    • Handle: RePEc:ris:joibac:0153
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    More about this item

    Keywords

    Liberalization; Indonesian economy; Global actors; Governing; Financial troubles;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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