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@article{ART001444942},
author={Seung-Gook Ahn},
title={The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis},
journal={Journal of Asia-Pacific Studies},
issn={1225-8539},
year={2009},
volume={16},
number={2},
pages={139-151},
doi={10.18107/japs.2009.16.2.008}

TY - JOUR
AU - Seung-Gook Ahn
TI - The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis
JO - Journal of Asia-Pacific Studies
PY - 2009
VL - 16
IS - 2
PB - Institute of Global Affairs
SP - 139
EP - 151
SN - 1225-8539
AB - The Indonesian economic crisis was the result of inter-linkded internal and external factors. On the one hand, the Indonesian crisis was caused by the panicked flight of foreign capital which had flooded into Indonesia, Reckless speculative funds, such as Hedge funds, were rampant in Indonesia with the opening of the capital flows in 1990s. On the other hand, crony capitalism and moral hazard brought on the economic bubble and the bursting of that bubble had resulted in the economic crisis. The problem began with financial intermediaries-institutions whose liabilities were perceived as having an implicit government guarantee, but were essentially unregulated and therefore subject to severe moral hazard problems. To prevent the economic crisis, first the present international financial system should be modified. For instance, one possibility would be the establishment of a new Bretton Woods system based on the adjustable fixed exchange rate system, Second, since borderless speculative funds triggered the economic crisis, tighter limits on short-term foreign borrowing must be imposed. Third, the government-controlled financial system should be abolished to prevent distortions in the allocations of funds. Fourth, the Asian countries including Indonesia must launch a concerted program for domestic expansion, along with an increase in both imports and exports.
KW - Economic Crisis;Panic;Moral Hazard;Cronyism;Indonesia
DO - 10.18107/japs.2009.16.2.008
ER -

Seung-Gook Ahn. (2009). The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis. Journal of Asia-Pacific Studies, 16(2), 139-151.

Seung-Gook Ahn. 2009, "The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis", Journal of Asia-Pacific Studies, vol.16, no.2 pp.139-151. Available from: doi:10.18107/japs.2009.16.2.008

Seung-Gook Ahn "The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis" Journal of Asia-Pacific Studies 16.2 pp.139-151 (2009) : 139.

Seung-Gook Ahn. The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis. 2009; 16(2), 139-151. Available from: doi:10.18107/japs.2009.16.2.008

Seung-Gook Ahn. "The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis" Journal of Asia-Pacific Studies 16, no.2 (2009) : 139-151.doi: 10.18107/japs.2009.16.2.008

Seung-Gook Ahn. The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis. Journal of Asia-Pacific Studies, 16(2), 139-151. doi: 10.18107/japs.2009.16.2.008

Seung-Gook Ahn. The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis. Journal of Asia-Pacific Studies. 2009; 16(2) 139-151. doi: 10.18107/japs.2009.16.2.008

Seung-Gook Ahn. The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis. 2009; 16(2), 139-151. Available from: doi:10.18107/japs.2009.16.2.008

Seung-Gook Ahn. "The Political Economy of growth and crisis in Indonesia Focusing on the Periods Before and After the Economic Crisis" Journal of Asia-Pacific Studies 16, no.2 (2009) : 139-151.doi: 10.18107/japs.2009.16.2.008