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Indonesia in Crisis: A Macroeconomic Perspective

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Abstract

This paper presents an illustrative analysis of the crisis from a macroeconomic perspective, by focusing on the various economic adjustments both in the real and monetary sectors. It argues that the complex nature of the political and economic reform process has resulted in sub - optimal growth rates. The paper discusses, first, the evolution of the crisis. Then it provides an account of the developments in the real sector and growth in general. The authors then present monetary adjustments, including inflation, exchange rate, and other issues related to the banking and financial sectors. The fourth section discusses the balance of payment trends, by focusing more on the adjustments of exports and imports. This is followed by a discussion on debt issues and fiscal sustainability, while the last part concludes with the prospect of achieving macroeconomic stability.

Suggested Citation

  • Tubagus Feridhanusetyawan & Mari Pangestu, 2004. "Indonesia in Crisis: A Macroeconomic Perspective," CSIS Economics Working Paper Series WPE074, Centre for Strategic and International Studies, Jakarta, Indonesia.
    • Handle: RePEc:sis:wpecon:wpe074
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    File URL: http://www.csis.or.id/working_paper_file/33/wpe074.pdf
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    More about this item

    Keywords

    Indonesia; crisis; macroeconomic adjustment;
    All these keywords.

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes

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