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The conglomerates in crisis: Indonesia, 1997–1998

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  • Christian Chua

Abstract

The crisis in 1997/1998 unravelled Indonesia's successful business model of close state–business relations. Without the authoritarianism, centralism, and protectionism of the former regime, the conglomerates – predominantly owned by ethnic Chinese – had to deal with a new political environment that brought them to the brink of financial and political collapse. This paper analyses the impact of the Asian crisis and outlines the new challenges for the business groups in a more democratic, decentralized, and deregulated economy.

Suggested Citation

  • Christian Chua, 2008. "The conglomerates in crisis: Indonesia, 1997–1998," Journal of the Asia Pacific Economy, Taylor & Francis Journals, vol. 13(1), pages 107-127.
    • Handle: RePEc:taf:rjapxx:v:13:y:2008:i:1:p:107-127
    DOI: 10.1080/13547860701733123
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    References listed on IDEAS

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    1. Hill,Hal, 2000. "The Indonesian Economy," Cambridge Books, Cambridge University Press, number 9780521663670.
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