In the decade to 2011, the world had the biggest ever resource boom which saw the price of a wide range of different commodities reached record high prices. For a resource-exporting developing country that had been massively hit by the Asian Financial Crisis (AFC) in 1997-98 like Indonesia, the boom was very helpful in restoring its economic growth. However, it also encouraged the emergence of economic structure and policies (through its impact to the new democracy’s political culture) which made sustainable and equitable growth more difficult. Although this episode of economic development echoes the country’s experience with the oil boom during the 1970s, the outcomes have been radically different. Using both macroeconomic and microeconomic analysis, complemented by the country’s political economic context, the study aims produce a well-rounded analysis which considered multiple aspects of how and why the impacts of these two booms have been very different.
Scholarships and fellowships
LPDP - Indonesia Endowment Fund for Education
Arndt-Corden Department of Economics
HC Coombs Building
The Australian National University
Canberra ACT 0200 Australia