A historical analysis of resilience of Chinese diaspora entrepreneurs in South-East Asia during the Asian Financial Crisis (AFC)

The Chinese entrepreneurs in Malaysia and Indonesia experienced the Asian Financial Crisis and emerged from it stronger than ever in their own economies. In contrast, many indigenous entrepreneurs were bankrupted by the financial crisis. This paper seeks to explore the reasons that contributed to the resilience of the Chinese diaspora entrepreneurs in the respective economies. The study will not only contribute to a better understanding of diaspora entrepreneurs but also determine factors that enhance the resilience of entrepreneurs. In order to synthesise the research on resilience and Chinese diaspora entrepreneurs in Malaysia and Indonesia, the study employs a historical institutionalism method. The study shows that resilience capacities identified in the literature include financial, physical, informational, and social resources; cognitive, behavioural, and emotional capabilities; and personality traits are acquired or developed within a turbulent environment and deployed in future such environments, i.e. experience is key to the development of the capacities.