The Belgian Congo (Zaire, now the Democratic Republic of the Congo), the Netherlands Indies (Indonesia), and Taiwan/Formosa (now the Republic of China) experienced policies during the 19th and early 20th century which could be termed exploitative or extractive, although some policies in these colonies could also be termed developmental. All three colonies had a troubled passage to independence, and the immediate post-independence era was marked by considerable political and economic turmoil. But the growth performance of the three former colonies has been very different. Taiwan has seen very rapid growth sustained over decades; Indonesia’s economic growth since 1970 has been quite robust; the Congo has seen a growth collapse which is extraordinary even by African standards. The paper suggests some explanations for this divergence in terms of policies pursued by the Japanese, Dutch and Belgian colonial regimes, and by postindependence governments in these countries.
{"title":"Accumulation, Development, and Exploitation in Different Colonial and Post-Colonial Contexts: Taiwan, Indonesia and the Democratic Republic of the Congo, 1900-80","authors":"A. Booth","doi":"10.7454/EFI.V61I1.494","DOIUrl":"https://doi.org/10.7454/EFI.V61I1.494","url":null,"abstract":"The Belgian Congo (Zaire, now the Democratic Republic of the Congo), the Netherlands Indies (Indonesia), and Taiwan/Formosa (now the Republic of China) experienced policies during the 19th and early 20th century which could be termed exploitative or extractive, although some policies in these colonies could also be termed developmental. All three colonies had a troubled passage to independence, and the immediate post-independence era was marked by considerable political and economic turmoil. But the growth performance of the three former colonies has been very different. Taiwan has seen very rapid growth sustained over decades; Indonesia’s economic growth since 1970 has been quite robust; the Congo has seen a growth collapse which is extraordinary even by African standards. The paper suggests some explanations for this divergence in terms of policies pursued by the Japanese, Dutch and Belgian colonial regimes, and by postindependence governments in these countries.","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"61 1","pages":"1-20"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71340093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines industrialization policy in two oil giant economies, Indonesia and Nigeria. What are the key features of continued economic divergence in these two countries since the 1980s? It shows that Indonesia’s policy-makers adopted a series of liberalization measures and switched to an export-oriented strategy to develop manufacturing industries from the mid-1980s, while Nigeria’s policy-makers was reluctant to do so. This paper also seeks to understand the rationale behind the different policy choices. This paper argues that policy-makers’ experience and educational background are possible explanation to the different industrialization policies in these two countries.
{"title":"Pragmatism and Nationalism: Industrialization Policy in Indonesia and Nigeria","authors":"A. Fuady","doi":"10.7454/EFI.V61I1.495","DOIUrl":"https://doi.org/10.7454/EFI.V61I1.495","url":null,"abstract":"This paper examines industrialization policy in two oil giant economies, Indonesia and Nigeria. What are the key features of continued economic divergence in these two countries since the 1980s? It shows that Indonesia’s policy-makers adopted a series of liberalization measures and switched to an export-oriented strategy to develop manufacturing industries from the mid-1980s, while Nigeria’s policy-makers was reluctant to do so. This paper also seeks to understand the rationale behind the different policy choices. This paper argues that policy-makers’ experience and educational background are possible explanation to the different industrialization policies in these two countries.","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"61 1","pages":"21-40"},"PeriodicalIF":0.0,"publicationDate":"2015-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71340100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Fifty Years of Economic Transformation: The Indonesian Economy in Retrospect and Prospect","authors":"M. Sadli","doi":"10.7454/EFI.V56I1.16","DOIUrl":"https://doi.org/10.7454/EFI.V56I1.16","url":null,"abstract":"","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"56 1","pages":"75-83"},"PeriodicalIF":0.0,"publicationDate":"2015-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The composition of the private sector and the problems today still reflect the legacy of the colonial system. Before World War II the modem sector was dominated by the Dutch companies, with a number of medium-scale Chinese companies on the ascendancy. The Dutch companies were engaged in plantation, mining, intemational trade, banking, shipping, manufacturing, construction, etc. Ma y Chinese companies, diversifying out of trade, entered medium-scale manufacturing of consumer goods; their plants are often located in provincial towns in Java. Some Chinese business houses, however, also ventured in plantations, such as of sugar, tea and coffee.
{"title":"Indonesia’s Private Sector","authors":"M. Sadli","doi":"10.7454/EFI.V56I1.15","DOIUrl":"https://doi.org/10.7454/EFI.V56I1.15","url":null,"abstract":"The composition of the private sector and the problems today still reflect the legacy of the colonial system. Before World War II the modem sector was dominated by the Dutch companies, with a number of medium-scale Chinese companies on the ascendancy. The Dutch companies were engaged in plantation, mining, intemational trade, banking, shipping, manufacturing, construction, etc. Ma y Chinese companies, diversifying out of trade, entered medium-scale manufacturing of consumer goods; their plants are often located in provincial towns in Java. Some Chinese business houses, however, also ventured in plantations, such as of sugar, tea and coffee.","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"56 1","pages":"47-73"},"PeriodicalIF":0.0,"publicationDate":"2015-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339492","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A Tribute to Our Guru, Mentor, Friend and Economic Commentator Par Excellence: Professor Mohammad Sadli","authors":"M. Pangestu","doi":"10.7454/EFI.V56I1.13","DOIUrl":"https://doi.org/10.7454/EFI.V56I1.13","url":null,"abstract":"","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"56 1","pages":"3-22"},"PeriodicalIF":0.0,"publicationDate":"2015-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Being aware of this the present writer can only try to minimize the risk by sticking close to Boeke's original wordings and not to try to condense the exposition too much, for the danger of condensing is that often a biased representation is abstracted. On the other hand, Dr.Boeke's "dualistic theory" is perhaps not free from inconsistencies. This opinion is shared by Prof.Higgins in his article (Higgins, p.105); these inconsistencies have perhaps contributed much to the socalled misinterpretations.
{"title":"Some Reflections on Professor Boeke's Theory of Dualistic Economies","authors":"M. Sadli","doi":"10.7454/EFI.V56I1.14","DOIUrl":"https://doi.org/10.7454/EFI.V56I1.14","url":null,"abstract":"Being aware of this the present writer can only try to minimize the risk by sticking close to Boeke's original wordings and not to try to condense the exposition too much, for the danger of condensing is that often a biased representation is abstracted. On the other hand, Dr.Boeke's \"dualistic theory\" is perhaps not free from inconsistencies. This opinion is shared by Prof.Higgins in his article (Higgins, p.105); these inconsistencies have perhaps contributed much to the socalled misinterpretations.","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"56 1","pages":"23-45"},"PeriodicalIF":0.0,"publicationDate":"2015-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Indonesia is often mentioned as an excellent example of a country which has a good economic performance because of its consistent practice of sound macroeconomic policies. Of course there are other countries in East and Southeast Asia progressing equally well or better. But since its independence, lndonesia has gone through two decades of politically turbulent times and missed opportunities for effective economic development.In1966, however, there was a radical tumaround in politics and economic poliry. A new regime took over and since then economic growth proceeded at adequate levels of six percent per mnnm. It is now cruising at a better than seven and a half percent per annum, due to the impact of a series of deregulations and the fruition of investments in infrastrucfure and in human resources development.
{"title":"Technocratic Decision Making in Economic Policy","authors":"M. Sadli","doi":"10.7454/efi.v56i1.17","DOIUrl":"https://doi.org/10.7454/efi.v56i1.17","url":null,"abstract":"Indonesia is often mentioned as an excellent example of a country which has a good economic performance because of its consistent practice of sound macroeconomic policies. Of course there are other countries in East and Southeast Asia progressing equally well or better. But since its independence, lndonesia has gone through two decades of politically turbulent times and missed opportunities for effective economic development.In1966, however, there was a radical tumaround in politics and economic poliry. A new regime took over and since then economic growth proceeded at adequate levels of six percent per mnnm. It is now cruising at a better than seven and a half percent per annum, due to the impact of a series of deregulations and the fruition of investments in infrastrucfure and in human resources development.","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"56 1","pages":"85-96"},"PeriodicalIF":0.0,"publicationDate":"2015-03-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339363","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper contains a report on the findings of a survey on the implementation of the Direct Cash Transfers (Bantuan Langsung Tunai) program. The survey named Susenas (National Socio-Economic Survey) was held across Indonesia in the aftermath of the program in 2006. The economic purpose of this government’s welfare program was to dampen the increasing rate of poverty incidence in Indonesia due to the increase of gas prices. Several issues featured in this paper are the achievement of the program in distributing the cash transfers;, how the recipients used the funds they received; the impact of the cash transfers on the recipients’ working behavior; the socialization method of the program; and finally, the problems that arose during the program’s implementation. The findings are that the program was not properly prepared and not properly organized; it achieves the goal in resisting the increase of poverty rate due to gas price increases.
本文包含一份关于直接现金转移(Bantuan Langsung Tunai)计划实施情况调查结果的报告。这项名为Susenas(全国社会经济调查)的调查于2006年在印尼全国范围内开展。这个政府福利计划的经济目的是抑制由于汽油价格上涨而导致的印度尼西亚贫困发生率的上升。本文主要讨论的几个问题是:项目在分配现金转移方面取得的成就;受助人如何使用他们收到的资金;现金转移对受助人工作行为的影响节目的社会化方法;最后是项目实施过程中出现的问题。调查结果是，该计划没有得到适当的准备和组织;它达到了抵制因汽油价格上涨而导致的贫困率上升的目标。
{"title":"An Economic and Social Review on Indonesia's Direct Cash Transfer Program to Poor Families in 2005","authors":"M. Widjaja","doi":"10.7454/EFI.V60I2.73","DOIUrl":"https://doi.org/10.7454/EFI.V60I2.73","url":null,"abstract":"This paper contains a report on the findings of a survey on the implementation of the Direct Cash Transfers (Bantuan Langsung Tunai) program. The survey named Susenas (National Socio-Economic Survey) was held across Indonesia in the aftermath of the program in 2006. The economic purpose of this government’s welfare program was to dampen the increasing rate of poverty incidence in Indonesia due to the increase of gas prices. Several issues featured in this paper are the achievement of the program in distributing the cash transfers;, how the recipients used the funds they received; the impact of the cash transfers on the recipients’ working behavior; the socialization method of the program; and finally, the problems that arose during the program’s implementation. The findings are that the program was not properly prepared and not properly organized; it achieves the goal in resisting the increase of poverty rate due to gas price increases.","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"60 1","pages":"197-212"},"PeriodicalIF":0.0,"publicationDate":"2015-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339760","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Urban amenity is a major factor which determines household's quality of life in certain city. The level of city amenities will vary, depending among other on the liousehold's access to public facilities in the city. The study aims to measure the households' quality of life in 28 cities in Java based on urban amenities. The study is using a hedonic model of Compensating Wage Differential Rent to measure the urban amenities. The study shows tiiat the quality of life of households in every city varies. Quality of life in metropolitan cities such as Jakarta, Bandung, Semarang, Yogyakarta, Surabaya, which become the center of business and economics, is relatively lower than other cities
{"title":"Urban Amenities and Quality of Life Index: Evidence from Cities in Indonesia","authors":"S. Djamaluddin","doi":"10.7454/EFI.V60I2.74","DOIUrl":"https://doi.org/10.7454/EFI.V60I2.74","url":null,"abstract":"Urban amenity is a major factor which determines household's quality of life in certain city. The level of city amenities will vary, depending among other on the liousehold's access to public facilities in the city. The study aims to measure the households' quality of life in 28 cities in Java based on urban amenities. The study is using a hedonic model of Compensating Wage Differential Rent to measure the urban amenities. The study shows tiiat the quality of life of households in every city varies. Quality of life in metropolitan cities such as Jakarta, Bandung, Semarang, Yogyakarta, Surabaya, which become the center of business and economics, is relatively lower than other cities","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"60 1","pages":"213-230"},"PeriodicalIF":0.0,"publicationDate":"2015-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339770","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper aims to understand the relations between Indonesia's impossible trilemma and inflation. The study found the monetary policy framework implemented by Bank Indonesia has led the trilemma configuration in Indonesia into a more flexible exchange rate regime, greater monetary policy independence, and growing financial integration. This fact eventually has contributed favorably in lowering inflationary pressures in Indonesia. However, living with the trilemma in the open economy has a consequence. During the resurgence of capital inflows since the early of 2009, the sterilized FX intervention strategy conducted by Bank Indonesia to prevent excessive volatility of rupiah and support price stability has raised the outstanding of open market operations instruments and shifted Bank Indonesia's balance sheet
{"title":"The Trilemma, Inflation and Central Bank Balance Sheet: The Case of Indonesia","authors":"M. Ikhsan, Yoga Affandi, Firman Mochtar","doi":"10.7454/efi.v60i2.70","DOIUrl":"https://doi.org/10.7454/efi.v60i2.70","url":null,"abstract":"This paper aims to understand the relations between Indonesia's impossible trilemma and inflation. The study found the monetary policy framework implemented by Bank Indonesia has led the trilemma configuration in Indonesia into a more flexible exchange rate regime, greater monetary policy independence, and growing financial integration. This fact eventually has contributed favorably in lowering inflationary pressures in Indonesia. However, living with the trilemma in the open economy has a consequence. During the resurgence of capital inflows since the early of 2009, the sterilized FX intervention strategy conducted by Bank Indonesia to prevent excessive volatility of rupiah and support price stability has raised the outstanding of open market operations instruments and shifted Bank Indonesia's balance sheet","PeriodicalId":31064,"journal":{"name":"Economics and Finance in Indonesia","volume":"60 1","pages":"127-144"},"PeriodicalIF":0.0,"publicationDate":"2015-03-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71339647","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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