Managing the Indonesian economy: Some lessons from the past

This paper draws some tentative lessons for the management of Indonesia's economy from recent political–economic history. After a brief review of the economy under the present government, the paper then puts the picture in the longer term perspective of post-independence Indonesia. Some lessons are then drawn. They include the need to maintain awareness of the close connection between economics and politics, constant vigilance about economic stability and the budget, a solid economic team, a coherent overall strategy and a focus on institutions and governance.     

The International Monetary Fund Support Program in Indonesia: Comparing Implementation under Three Presidents

This note, based mainly on the author's experience during the crisis period as part of government teams negotiating with the International Monetary Fund (IMF), discusses how three aspects of the IMF-supported program in Indonesia--conditionality, ownership of the program and implementation capacity--affected implementation of the program under Presidents Soeharto, B.J. Habibie and Abdurrahman Wahid.