Economic growth and poverty reduction in Indonesia before and after the asian financial crisis

2012 ◽  
Vol 48 (2) ◽  
pp. 209-227 ◽  
Author(s):  
Asep Suryahadi ◽  
Gracia Hadiwidjaja ◽  
Sudarno Sumarto
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Poverty Reduction ◽  
Asian Financial Crisis ◽  
Before And After

Institutional Change and Economic Growth in East Asia after the Asian Financial Crisis, 1997-98

2020 ◽  
Vol 35 (1) ◽  
pp. 29-51
Author(s):  
Kee Hoon Chung
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Institutional Change ◽  
East Asia ◽  
Fixed Effects ◽  
Panel Data Analysis ◽  
Institutional Quality ◽  
Asian Financial Crisis ◽  
Fixed Effects Model ◽  
The World

Theories on institutional change assert that exogenous shocks are critical in transforming path-dependent institutions. There is not much empiric research, however, that has investigated whether that is indeed the case. To fill this gap, this study investigates the effects of institutional quality on economic growth with a focus on East Asia before and after the 1997-98 Asian financial crisis, which delivered a critical shock in economic activities and institutions in East Asia. Using panel data analysis from 1981 and 2007, I investigate whether the effect of institutional quality on economic growth differed in East Asia compared to rest of the world before the crisis and whether such relationship changed after the crisis. Using two-way fixed effects model, the estimation shows that the effect of institutional quality on economic growth was positive on average for the rest of the world after the crisis but negative for East Asia. The negative coefficient was particularly strong for the three countries—South Korea, Indonesia, and Thailand—that suffered the most during the crisis. However, in the long term, there was no significant change of this negative effect.

Stock Market Linkages Before and After the Asian Financial Crisis: Evidence from Three Greater China Economic Area Stock Markets and the US

2006 ◽  
Vol 09 (02) ◽  
pp. 297-315 ◽  
Author(s):  
Hwahsin Cheng ◽  
John L. Glascock
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Stock Returns ◽  
Stock Markets ◽  
The United States ◽  
Asian Financial Crisis ◽  
Greater China ◽  
Market Linkages ◽  
Economic Area ◽  
Before And After

We investigate the stock market linkages between the United States and three Greater China Economic Area stock markets — China, Hong Kong, and Taiwan, before and after the 1997 Asian financial crisis. Daily stock market indices from January 1995 to December 2000 are used for the analysis. Results from Granger causality test indicate increased feedback relationships between the markets in the post-crisis period. We also find, from the principal component analysis, fewer common factors affecting stock returns after the crisis, suggesting more harmonious market co-movements after the financial crisis. Additionally, results from a variance decomposition analysis suggest that stock markets are more responsive to foreign shocks after the crisis. This further strengthens the evidence that stock markets become more interrelated after the 1997 Asian financial crisis.

Stock‐market forecasts by Singapore newspapers before and after the 1997 Asian financial crisis

2002 ◽  
Vol 12 (1) ◽  
pp. 100-125 ◽  
Author(s):  
Choy How Yun ◽  
Koh Siau Wei ◽  
Tay Hwee Peng ◽  
Hao Xiaoming
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Asian Financial Crisis ◽  
Before And After

scholarly journals IS TAIWAN'S R&D PRODUCTIVITY IN DECLINE? A MICROECONOMETRIC ANALYSIS

2013 ◽  
Vol 14 (1) ◽  
pp. 137-155
Author(s):  
Chih-Hai Yang ◽  
Chia-Hui Huang
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Productivity Growth ◽  
Electronics Industry ◽  
Asian Financial Crisis ◽  
Manufacturing Firms ◽  
Firm Level ◽  
Crisis Period ◽  
Crucial Question ◽  
The Past

Innovation is widely recognized as the main stimulus of economic growth. Considering that Taiwan has devoted increasingly more efforts to R&D since the late 1980s, a crucial question is posed: did the R&D productivity of firms begin to decline in Taiwan during the post-Asian Financial Crisis period when Taiwan's economic growth began to decelerate? This study investigates changes in R&D productivity for Taiwan's manufacturing firms from 1990 to 2003. By employing various approaches to obtain robust results, findings from firm-level microeconometric analysis suggests that overall R&D productivity in Taiwan appears to have been ascendant, particularly during the post-crisis period. This result is also evidenced by segmenting the sample into industry groups, whereby electronics firms have a significantly high R&D productivity growth relative to firms outside the electronics industry. Therefore, the slowdown of Taiwan's economic growth in the past decade is attributed to other influences rather than a slowdown in R&D productivity.

Long-term Economic Development and Employment Changes: The Indonesian Experience

Social Change ◽  
2017 ◽  
Vol 47 (4) ◽  
pp. 493-508
Author(s):  
Tulus Tahi Hamonangan Tambunan
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial Crisis ◽  
Labour Productivity ◽  
Recovery Period ◽  
Growth Period ◽  
Asian Financial Crisis ◽  
Informal Employment ◽  
Policy Reforms

This article assesses Indonesia’s long experience with economic development from 1990 up to 2014–2015. It examines economic growth and employment changes in three sub-periods: the high economic growth period 1990–1996; the Asian financial crisis and recovery period 1997–2007 and the global economic crisis from 2008 to the present. In this periodisation, the crisis years and their impact on employment experienced by Indonesia from 1990 to 2014–2015 will be visible. Additionally, it also examines changes in employment dualism, that is, formal vs. informal employment as well as changes in labour productivity during this extended time. This article shows that Indonesia’s economy performed exceptionally well after the 1997–1998 Asian financial crisis on the back of a continued prudent macroeconomic framework and solid policy reforms. Employment continued to increase and poverty continued to show a declining trend.

scholarly journals Assessing The Role of External Debt in Economic Growth of The Asean-4 Countries: An Empirical Study

2014 ◽  
Author(s):  
Siti Nurazira Mohd Daud
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Empirical Study ◽  
External Debt ◽  
Optimal Level ◽  
Asian Financial Crisis ◽  
High Accumulation

The Asian Financial Crisis in 1997 witnessed an episode of high accumulation of external debt among the crisis-hit countries, namely Indonesia, Malaysia, Philippines and Thailand. This leads to the issue of the role played by external debt in stimulating the economies of ASEAN-4 countries. This paper tries to examine the role of external debt in the economies of the ASEAN-4 countries. The results demonstrate that external debt plays a role in improving the economic growth of the ASEAN-4 countries. In addition, the accumulation of external debt is positively associated with Indonesia’s and Thailand’s economic growth up to an optimal level, beyond the optimal level the external debt has inversely contributed to the economy.   Keywords: External debt, ASEAN-4, economic growth.

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