Half a century of Indonesian economic development: Continuity and change

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dc.contributor.authorHill, Hal
dc.contributor.authorHill, Sam
dc.contributor.editorHill, Hal
dc.contributor.editorMenon, Jayant
dc.date.accessioned2021-03-30T00:34:54Z
dc.date.available2021-03-30T00:34:54Z
dc.date.issued2016
dc.date.updated2020-11-22T07:32:28Z
dc.description.abstractFew countries have experienced such dramatic changes in economic fortunes and political governance as Indonesia since the 1960s. The world's fourth most populous nation and the ninth largest economy (in terms of purchasing power parity or PPP), it experienced more or less continuous economic decline for at least half a century prior to the mid-1960s (van der Eng 2002). By then it was one of the world's poorest countries. Two of the most influential studies of that period characterized the country as "a chronic economic dropout", in the words of Higgins (1968), the leading development economics text, and as a country with little prospect of development in the seminal socioeconomic survey of Asia by Myrdal (1968). Then, in a remarkable turnaround, from 1966, the country achieved rapid economic development for the next three decades, such that it was classified as one of the "East Asian miracle economies" in the World Bank's (1993) major comparative study of the early 1990s. A decade and a half later, another World Bank-sponsored comparative analysis, by the Commission on Growth and Development (2008), concluded that, over the preceding century, Indonesia was one of only thirteen economies among the 150 studied to have achieved rapid economic growth for a sustained period of time. According to one analysis, by Australian Treasury staff (Au-Yeung et al. 2014), it may well be the fourth largest economy in the world by 2050. Indonesia has also had a history of consistently proving the doomsayers wrong. The pessimism of the mid-1960s has already been referred to. Influential theories of economic dualism, backwardsloping supply curves and non-economic behaviour in peasant agriculture originated in colonial Indonesia, famously developed by J.H. Boeke. Yet this was an analytical construct reflecting a system of governance that denied the population political and economic opportunities. Continuing this theme, at the time of the country's sudden independence in 1945, many observers saw little prospect for national unity, socio-economic development, and territorial preservation.en_AU
dc.format.mimetypeapplication/pdfen_AU
dc.identifier.isbn9789814762304en_AU
dc.identifier.urihttp://hdl.handle.net/1885/228686
dc.language.isoen_AUen_AU
dc.publisherISEAS Publishingen_AU
dc.relation.ispartofManaging Globalization in the Asian Century: Essays in Honour of Prema-Chandra Athukoralaen_AU
dc.relation.isversionof1st Edition
dc.rights© 2016 ISEAS Publishingen_AU
dc.source.urihttp://www.worldcat.org/oclc/978572705en_AU
dc.titleHalf a century of Indonesian economic development: Continuity and changeen_AU
dc.typeBook chapteren_AU
local.bibliographicCitation.lastpage523en_AU
local.bibliographicCitation.placeofpublicationSingapore
local.bibliographicCitation.startpage485en_AU
local.contributor.affiliationHill, Hal, College of Asia and the Pacific, ANUen_AU
local.contributor.affiliationHill, Sam, Canberraen_AU
local.contributor.authoremailhal.hill@anu.edu.auen_AU
local.contributor.authoruidHill, Hal, u8303125en_AU
local.description.notesImported from ARIESen_AU
local.identifier.absfor140202 - Economic Development and Growthen_AU
local.identifier.absfor140203 - Economic Historyen_AU
local.identifier.ariespublicationu4002919xPUB661en_AU
local.identifier.uidSubmittedByu4002919en_AU
local.publisher.urlhttps://www.iseas.edu.sgen_AU
local.type.statusPublished Versionen_AU

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