J. Soedradjad Djiwandono,Bank Indonesia and the crisis

Soedradjad Djiwandono, Governor of Bank Indonesia during the critical early months of the Asian crisis, had already written extensively on the period (including in this journal), but this book brings a more comprehensive version of his story to a wider audience. His focus is on central bank issues—the exchange rate, interest rates, capital flows and the insolvency of the banking system—but as these are the defining issues of the crisis, the book provides a rare and valuable contribution to the still-incomplete history of this painful period. This review puts his account in context and offers some commentary on the issues.