Indonesia’s Economics

4 April 2015
Regional development, financial markets, regulation, foreign investment, banking, currency, inflation and debt.

INDONESIA: THE PARADOX OF GROWTH AND CONTINUING ECONOMIC MISERY
Introduction
Forbes magazine, the American-based cheerleader for unregulated and unrepentant capitalism, enthused in the summer of 1995 over the world’s best kept secret the Indonesian economy which has produced steady growth and, most endearing to Forbes, six new billionaires (Tanzer & Mao, 1995, p. 112). Forbes managed to remain oblivious to a life expectancy (at birth) rate of 58 years, a literacy rate of 77 percent, and one of the lower levels of socioeconomic well-being for the average person in Asia (Hunter, 1995, pp. 763-769; World Bank, 1995, pp. 256-274). Forbes, however, unwittingly identified one of the causes of these anomalies?corrupt interconnections between government and ..

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