LitArk » Books » Science

Andrew Rosser - The Politics of Economic Liberalization in Indonesia: State, Market and Power

Here you can read online Andrew Rosser - The Politics of Economic Liberalization in Indonesia: State, Market and Power full text of the book (entire story) in english for free. Download pdf and epub, get meaning, cover and reviews about this ebook. year: 2001, publisher: Routledge, genre: Science / Politics. Description of the work, (preface) as well as reviews are available. Best literature library LitArk.com created for fans of good reading and offers a wide selection of genres:

Romance novel Science fiction Adventure Detective Science History Home and family Prose Art Politics Computer Non-fiction Religion Business Children Humor

Choose a favorite category and find really read worthwhile books. Enjoy immersion in the world of imagination, feel the emotions of the characters or learn something new for yourself, make an fascinating discovery.

Book:
The Politics of Economic Liberalization in Indonesia: State, Market and Power
Author:
Andrew Rosser
Publisher:
Routledge
Genre:
Science / Politics
Year:
2001
Rating:
3 / 5
Favourites:
Add to favourites
Your mark:
- 60
- 1
- 2
- 3
- 4
- 5

Description
Author's other books
Similar books

The Politics of Economic Liberalization in Indonesia: State, Market and Power: summary, description and annotation

We offer to read an annotation, description, summary or preface (depends on what the author of the book "The Politics of Economic Liberalization in Indonesia: State, Market and Power" wrote himself). If you haven't found the necessary information about the book — write in the comments, we will try to find it.

This book examines the dynamics shaping the economic process of economic liberalisation in Indonesia since the mid-1980s. Much writing on the process of economic liberalisation in developing countries views economic liberalisation as the victory of economic rationality over political and social interests. In contrast, this book argues that economic liberalisation should not be understood in these terms, but rather in the way that political social interests shape processes of economic reform in both a positive and negative sense. Specifically, Rosser argues that economic liberalisation needs to be understood in terms of the extent to which economic crises shift the balance of power and influence within society away from coalitions opposed to reform and towards those in favour of reform. In the Indonesian context, the main coalitions that need to be examined in this respect are the politico-bureaucrats and the conglomerates who have generally opposed reform and mobile capitalists who have generally supported reform.
Based on extensive original research, and providing much new material, the book considers the politics of economic policy-making in Indonesia in a range of sectors including the capital market, intellectual property law, the banking industry, and the trade and investment sectors. Analysing why the nature of economic policy in Indonesia has varied over time, this study argues that there is nothing inevitable about a transition to a fully-fledged liberal market order in Indonesia, and outlines possible future scenarios for the countrys political economy.

Andrew Rosser: author's other books

Who wrote The Politics of Economic Liberalization in Indonesia: State, Market and Power? Find out the surname, the name of the author of the book and a list of all author's works by series.

The Politics of Economic Liberalization in Indonesia: State, Market and Power — read online for free the complete book (whole text) full work

Below is the text of the book, divided by pages. System saving the place of the last page read, allows you to conveniently read the book "The Politics of Economic Liberalization in Indonesia: State, Market and Power" online for free, without having to search again every time where you left off. Put a bookmark, and you can go to the page where you finished reading at any time.

Light

Font size:

↓

↑

Reset

Interval:

↓

↑

Bookmark:

Make

THE POLITICS OF ECONOMIC LIBERALISATION IN INDONESIA

STATE, MARKET AND POWER

THE POLITICS OF ECONOMIC LIBERALISATION IN INDONESIA

STATE, MARKET AND POWER

Andrew Rosser

First published 2002 by RoutledgeCurzon

This edition published 2012 by Routledge
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN

Simultaneously published in the USA and Canada by Routledge
711 Third Avenue, New York, NY 10017

Routledge is an imprint of the Taylor & Francis Group, an informa business

2002 Andrew Rosser

Typeset in Stempel Garamond by LaserScript Ltd, Mitcham, Surrey

All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.

British Library Cataloguing in Publication Data
A catalogue record of this book is available from the British Library

Library of Congress Cataloguing in Publication Data
A catalogue record for this book has been requested

ISBN 0700714766

For Paula and Sophie

Contents

Part 1
Theoretical and Historical Introduction

Part 2
The Politics of Economic Liberalisation in Indonesia from the mid-1980s to mid-1997

Part 3
The Asian Crisis and the Politics of Economic Liberalisation in Indonesia

Preface

In mid-1997, the Asian economic miracle suddenly came to an end. The collapse of several currencies within the region left a number of national economies in crisis. Many major business groups within the region were unable to repay their foreign and domestic debts, anxious foreign and domestic investors relocated vast amounts of capital abroad, interest rates, inflation and unemployment soared in some countries, and banking systems in the region teetered on the brink of collapse. At the same time, these economic problems led to the collapse or near collapse of several governments within the region. In South Korea, an opposition party led by Kim Dae Jung came to power for the first time. In Thailand, the governing coalition of Chavalit Yongchaiyudh fell and was replaced by a more reformist coalition under Chuan Leekpai. And, in Malaysia, the position of Prime Minister Mahathir Mohammad came under sustained attack from a large popular movement led by former deputy Prime Minister, Anwar Ibrahim, and his wife, Wan Azizah.

But nowhere has the crisis had a more severe political and economic impact than in Indonesia. The collapse of the rupiah left most of Indonesias private sector conglomerates technically bankrupt and made it impossible for them to raise new foreign loans. This in turn placed enormous stress on the countrys banking system, forcing the government to close, nationalise or assume managerial control over dozens of private banks. The crisis also drove millions of people into poverty as inflation increased and unemployment spread. Political and social unrest also spread, as evidenced by the massive wave of riots and student demonstrations that struck the country during 1998. Finally, the crisis produced dramatic political change. After more than 30 years in power, Suharto was forced to step down as President in May 1998 in favour of then Vice-President B. J. Habibie. This in turn precipitated a shift away from authoritarian rule in Indonesia and towards a fragile form of democracy. This shift was completed with the election of Abdurrahman Wahid as President and Megawati Sukarnoputri as Vice-President in October 1999.

In the wake of these developments, several neo-liberal scholars have been quick to declare the end of the Asian economic model and Indonesias brand of oligarchic capitalism in particular. Michel Camdessus and Jeffrey Frankel, for instance, have argued that the Asian crisis has exposed the inherent weakness of the Asian economic model, both in its developmental and oligarchic/crony capitalist forms, and, as such, provided a historic opportunity for countries in the East Asian region to shift towards more market-based systems of economic organization (Asian Wall Street Journal, 13 November 1997; Frankel 1998:11). Similarly, Francis Fukuyama has argued that the crisis has led to the unconditional defeat of the Japanese economic model of state-led development (as quoted in Asiaweek, 20 August 1999) and is consequently leading to growing convergence between Asian and neo-liberal economic systems. [I]n all three areas economic, political, and social, he argued, there are good reasons for thinking that the distinctive institutions and practices fostered by Asias cultural systems will converge over time with the patterns seen in the West. Far from reinforcing Asian exceptionalism, the current economic crisis will accelerate the homogenization of trends (Fukuyama 1999).

Such neo-liberal triumphalism implores us to look closely at the issue of how markets are created and, specifically, whether political and social conditions in East Asia and Indonesia in particular are conducive to their existence. At the heart of the predictions by Camdessus, Frankel and Fukuyama has been a belief that liberal markets emerge as a result of economically rational choices rather than the pursuit of political and social interest that is, as a result of a common concern to maximise wealth and efficiency in society as a whole rather than a concern to maximise the wealth and power of a segment of society. This book suggests that such an understanding of market formation is deeply flawed as are the predictions of East Asias and Indonesias future that are based upon it.

To support this argument, the book examines the dynamics of economic liberalisation in Indonesia since the mid-1980s. Specifically, it seeks to explain why reform outcomes in that country differed across time and economic sector. In contrast to rational choice theorists who have examined Indonesias political economy, it argues that these outcomes need to be understood in terms of the countrys structure of power and interest and the way this was affected by the two major economic shocks during this period, the collapse of international oil prices in the mid-1980s and the onset of the Asian economic crisis in mid-1997. It employs an approach that, in contrast to rational choice approaches, gives full regard to the way in which political and social forces shape processes of economic liberalisation and affect possibilities for the creation and consolidation of liberal market systems.

In terms of Indonesias future, the book suggests that, in contrast to the predictions of Fukuyama and others, Indonesia is unlikely to converge on the neo-liberal model. Whilst the crisis has clearly unleashed powerful structural pressures for reform, prospects for reform are limited by the fact that the country lacks one of the main prerequisites for the existence of liberal markets: a strong domestic coalition of interests that supports market reform. Indeed, the danger for Indonesia is that the crisis will do more to strengthen radical populist and nationalist elements within society than liberal elements. In short, it is possible that Indonesia will become a prime site for what Richard Higgott (2000) has called the politics of resentment. Alternatively, the crisis may precipitate the unravelling of the state and a rapid and potentially destabilising decentralisation of power.

Light

Font size:

↓

↑

Reset

Interval:

↓

↑

Bookmark:

Make

Similar books «The Politics of Economic Liberalization in Indonesia: State, Market and Power»

Look at similar books to The Politics of Economic Liberalization in Indonesia: State, Market and Power. We have selected literature similar in name and meaning in the hope of providing readers with more options to find new, interesting, not yet read works.

Giorgio Strafella

Intellectual Discourse in Reform Era China: The Debate on the Spirit of the Humanities in the 1990s

Bimal Jalan

India After Liberalisation: An Overview

Grigore Pop-Eleches

From Economic Crisis to Reform: IMF Programs in Latin America and Eastern Europe

David Goodman

Communism and Reform in East Asia

Ma Hong

Chinese Economists on Economic Reform - Collected Works of Ma Hong

Guoguang Wu

Chinas Transition from Communism - New Perspectives: New perspectives

Richard Aidoo

The Politics of Economic Reform in Ghana

Kenneth Dyson

The Politics of Economic Reform in Germany: Global, Rhineland or Hybrid Capitalism?

Lynn D. Nelson

Property to the People: The Struggle for Radical Economic Reform in Russia: The Struggle for Radical Economic Reform in Russia

James G. McGann

Democratization and Market Reform in Developing and Transitional Countries: Think Tanks as Catalysts

Antoinette R. Raquiza

State Structure, Policy Formation, and Economic Development in Southeast Asia: The political economy of Thailand and the Philippines

Minxin Pei

Chinas Trapped Transition: The Limits of Developmental Autocracy

Reviews about «The Politics of Economic Liberalization in Indonesia: State, Market and Power»

Discussion, reviews of the book The Politics of Economic Liberalization in Indonesia: State, Market and Power and just readers' own opinions. Leave your comments, write what you think about the work, its meaning or the main characters. Specify what exactly you liked and what you didn't like, and why you think so.