Indonesia: The Economic Crisis 1997-1998.
NAVAL POSTGRADUATE SCHOOL MONTEREY CA
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This paper provides a short study of Indonesias economic performance before July 1997 and an early diagnosis of the economic crisis in Indonesia, which occurred from July 1997 to March 1998. After achieving remarkable economic development success over the past several decades, Indonesia unavoidably had to face economic difficulties. What are the causes of economic crisis To answer this question is the purpose of this paper. The paper finds that the combination of several factors contributed to the economic crisis, the factors are 1 Thailands economic crisis 2 contagionspillover effects Indonesias structural weakness, debt and crisis of confidence 3 globalization and integration within the financialcapital market 4 investors and panic-stricken lenders 5 speculative attacks 6 socio-political factors, drought, forest fires and 7 foreign exchange rate regimes.
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