Evi Nurvidya Arifin
For Mletiko, 28 September 2011
The Indonesian Economy: Entering a New Era, a book edited by Aris Ananta, Muljana Soekarni and Sjamsul Arifin, was just published by the Institute of Southeast Asian Studies (ISEAS), Singapore. It has 12 chapters as shown in the following table of contents.
Foreword of the book is written by Hal Hill, H.W. Arndt Professor of Southeast Asian Economies, Australian National University. He mentions that the book is a “comprehensive and authoritative volume” (p.xviii). Comparing the Soeharto and Reformasi eras, some continuities and differeences are observed. The continuities include that Indonesia has a consensus on the desirability of growth, reasonably prudent macroeconomic manager, remains a reasonably open economy. Prof Hal Hill also argues that the differences between the two periods are striking. Economic policy processes have been completely transformed, the investment climate remains unclear in some respects, financial and labour markets are now much more heavily regulated, and finally environmental issues get more attention in policy debates. As clearly pointed out by Prof Hal Hill, readers will not necessarily agree with everything discuss in this book. He ends his foreword with “there is much to chew in this stimulating volume, and I commend it to you the readers”.
PART I: INTRODUCTION
1. Economic Challenges in a New Era, by Aris Ananta, Muljana Soekarni, and Sjamsul Arifin
2. Government Economic Policies since the Beginning of the New Order Era, by Muljana Soekarni and Ferry Syarifuddin
PART II: MONETARY AND FISCAL POLICIES
3. The Dynamics of Monetary Policy, by Ascarya
4. The Financial System: Balancing Financial Stability and Economic Growth, by Suhaedi and Pungky P. Wibowo
5. Economic Crisis and Fiscal Policy Management, by Silvia Mila Arlini and Yohanes Eko Riyanto
6. Understanding the Role of Fiscal Stimulus in Maintaining Economic Resilience, by Haris Munandar and Iskandar Simorangkir
PART III: DOMESTIC ECONOMY
7. Regional Heterogeneity of the Large Market and Production Base, by Evi Nurvidya Arifin
8. Industrial Relations in the Democratizing Era, by Indrasari Tjandraningsih
9. Decentralization and Domestic Trade Interdependence, by Siti Astiyah, Salomo P. Matondang, and Guruh Suryani Rokhimah
PART IV: SEARCH FOR NEW PARADIGMS
10. Embracing ASEAN Economic Integration 2015: A Quest for an ASEAN Business Cycle from Indonesia’s Point of View, by Yati Kurniati and Aida S. Budiman
11. Governance and Economic Performance, by Muljana Soekarni and Sjamsul Arifin
12. A Search for a World Development Paradigm: With Specific Recommendations for Indonesia, by Aris Ananta
Here are two comments on the book in the back-cover of the book.
Masaaki Komatsu, Professor of Economics, Hiroshima University says:
“Aris Ananta, Muljana Soekarni and Sjamsul Arifin gather excellent researchers and practitioners to discuss important economic policy issues for Indonesia today. They discuss monetary and fiscal policies and real economic sector issues based not only on theoretical analysis but also on their day-to-day experience in economic management. By reviewing Indonesia’s economic policy reform and subsequent Asian financial crisis and sub-prime loan crisis, the authors present a new economic development paradigm and explore economic strategy and policies for the new era. The book offers many timely lessons from history, as well as the real policy experiences of the authors, and guides readers in exploring economic policies under the globalized world economy. This book is very useful for both practitioners and researchers.”
Firmanzah, Professor of Economics and Dean of Faculty of Economics, University of Indonesia describes:
“Indonesia is one of the few countries that came through the global economic crisis in 2008-09 with positive economic growth. Despite some recorded positive domestic economic performances, Indonesia faces new challenges as its economy keeps growing and the global economy remains uncertain. A new economic development paradigm is needed to overcome old problems (poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions) with global market opportunities. This book provides a new perspective on how Indonesians economic policies should be developed by considering its past and future challenges.”
More information can be obtained from the Publication Unit, Institute of Southeast Asian Studies, Singapore.