Crises and Economic Development: the Indonesian Experience

Prof. Hal Hill, Australian National University

Economic crises have major implications for developing countries. They are often more vulnerable to crises, the crises may be deeper and more prolonged, while social safety nets to protect the poor are generally less developed. This presentation examines the recent experience of Indonesia, the world’s fourth most populous nation, with respect to crisis management. In particular, it looks at two episodes, the Asian financial crisis of 1997-98 and the current global financial crisis. The two episodes have been different in almost every respect, including origins, socio-economic impacts, political and institutional contexts, and the global economic environment. The 1997-98 event resulted in deep economic and institutional collapse, while the current crisis has had little impact on the country’s development trajectory. Some general implications for the management of crises in developing countries are also discussed.

About the speaker
Hal Hill the H.W. Arndt Professor of Southeast Asian Economies in the Research School of Pacific and Asian Studies, College of Asia and the Pacific at the Australian National University (ANU). He was head of the ANU's Indonesia Project (1986-1998), fulfilled visiting appointments at Gadjah Mada University, the University of the Philippines, the Institute of Southeast Asian Studies, the University of Oxford, the Tinbergen Institute, Columbia University, and the International University of Japan. Professor Hill has been a consultant for the Australian Government, the Indonesian Government, the World Bank, the Asian Development Bank, and several United Nations agencies and has been a member of various advisory boards, participated in conferences/seminars in some 25 countries and on the editorial board of 14 academic journals; he has been an occasional op-ed contributor to several Australian and Asian newspapers and magazines. From 2000 he has written a book on the Indonesian economy and co-edited with colleagues in Asia volumes on the Philippine economy, East Timor development issues, the social impacts of the Asian economic crisis, foreign investment and globalization in Asia, East Asia's high-tech drive, and regional development dynamics in the Philippines.

Venue: 4th floor offices, Keizer Karelplein 19

Date: 21 October 2009

Time: 12:30 - 13:30