Experience of Indonesia

Capital movements ; Monetary policy ; International finance

PROSPEKTIF BISNIS INDONESIA PANCA PUTARAN URUGUAY

ABSTRAKS Buoyed by the windfall oil revenues during the oil boom period (1973-1981) Indonesian non-oil exports have remained far behind. The plummeting oil and primary commodity prices in the early 1980\u27s shocked the Indonesian government who then responded by accelerating the introduction of reform designed to stimulate and diversify non-oil exports. The steady increase of income and the fast growth of non-oil exports is proof of the sound macro-economic management that has been consistently implemented by the policy makers through out the development period. However, one crucial obstacle faced by Indonesia is the relatively high-cost economy and inefficient productive sector which has made Indonesian products less competitive to many low-labor cost economies such as China, Vietnam, Pakistan, India, etc. \u27 Meanwhile, globalization in almost every sector - creating "borderless" world - has indicated that the success of the development program of a nation will be highly dependent on the ability of the country to be competitive in the world market. Strengthening the trust towards increasing competitiVeness is even more important for a small country such as Indonesia. The need for increasing efficiency, the burden of increasing foreign debt, and the declining oil surplus has been the driving force of the reducing role of the government in the engine of development and an increased reliance on. the private sector. A total improvement in productivity and efficiency is the key, and it requires a total commitment from both the government as well as the private sector who will be in the forefront of the battle. This\u27 article attempts to explore the impact of the new globalization environment post Uruguay Round, and discusses the opportunities and challenges as well as threats to the Indonesian trade and business community. For consideration of the Indonesian business world various strategies on how to gain maximum benefit of the opportunities are also summarized. Finally, the article will conclude with some suggestions on how to strengthen the existence of Indonesian products in the world market. Keywords: Indonesian business

MANAJEMEN NILAI TUKAR DI INDONESIA DAN PERMASALAHANNYA

Nilai tukar rupiah yang relatif stabil dan bahkan cenderung mengalami apresiasi sebelum Juli 1997 telah mendorong capital inflow yang cukup besar ke Indonesia. Fenomena tersebut merupakan hal yang logis bagi suatu negara yang menganut sistem devisa bebas dan perekonomiannya terbuka karena arus modal akan selalu mengikuti return investasi yang terbesar dan resiko seminimal mungkin. Namun sejak currency turnmoil melanda Thailand dan menyebar ke negara-negara ASEAN lainnya pada pertengahan Juli 1997, capital inflow tersebut telah menjadi bumerang karena telah berubah menjadi arus balik yang membahayakan baik terhadap nilai tukar rupiah maupun terhadap perekonomian nasional. Nilai tukar rupiah secara simultan mendapat tekanan yang cukup berat karena besarnya capital outflow akibat hilangnya kepercayaan investor asing terhadap prospek perekonomian Indonesia. Tekanan terhadap nilai tukar rupiah tersebut diperberat lagi dengan semakin maraknya kegiatan speculative bubble, sehingga sejak krisis berlangsung nilai tukar rupiah mengalami depresiasi hingga mencapai 75%

Mencairkan gunung es

Bai

Mencairkan gunung es : siasat mengubah kebekuan dalam organisasi

xx,218 p. : il.; 23 cm

Mencairkan gunung es: siasat mengubah kebekuan dalam organisasi/ Goeltom

xx, 218 hal. : ill.; 22 cm

Suatu Kajian Terhadap Implikasi dan Pelajaran yang dapat Diambil dari Krisis Ekonomi : Overview

Krisis ekonomi yangdipicu oleh krisis nilai tukar telah berdampak sangat luas sehingga mempengaruhi seluruh sendi-sendi perekonmian nasional. Kinerja pereknomian yang tercermin pada pertumbuhan ekonomi sampai kuartal ketiga tahun 1998 menunjukkan kontraksi yang sangat dalam yaitu sebesar -17,1% (y.oy.) Demikian pula, rasio investasi terhadap PDB pada periode yang sama menurun menjadi 17,3% atau sekitar separuhnya dibandingkan dengan rasio investasi terhadap PDB sebelum masa krisis. Pemutusan hubungan kerja serta dampak lanjutannya juga mewarnai suramnya kehidupan eknomi masyarakat sehubungan dengan semakin banyaknya perusahaan mengurangi aktivitasnya dan bahkan menghentikan produksinya. Laju inflasi (y.o.y.) yang tercatat sebesar  11,6% pada akhir 1997 melonjak tajam menjadi 82,4% pada kuartal ketiga tahun 1998

KINERJA PERDAGANGAN INTERNASIONAL INDONESIA, 1980 -1995\u27

Although the Indonesian economy has been superbly transferredfrom being a heavily oil-dependent economy in the 1970\u27s to a well diversified non-oil producer and exporter in the 1990s, the recent slow down of non-oil export growth, coupled with the deterioration in current account deficit in Indonesia has signalled to the policy makers, that a serious effort to improve the trade sector is a necessity. The latest data suggest that the heat is starting to come out of the economy. Nevertheless, the fact that Indonesia remains one of the highest indebted countries has made the current account deficit an even more critical sustainable development issue. This paper analyzes the changing pattern of trade and market for Indonesian products between 1980 and 1993, and its performance in 1995. The following section then analyze the trade and current account situation, compared briefly with that of Malaysia and Thailand. A major concern has been the slow down of non-oil export growth at a time when demand for non-oil imports appears to be out of control. Preliminary estimates suggest that the rate of growth of non-oil exports will remain low compared to the last three years, while non-oil import growth will be well beyond the export growth, around 30 percent annually. One of the worries has been the strength of consumer- related imports and the weakness of capital goods imports, while raw-material imports appear not to have much relation to export processing. The overall implication of such a situation is that we have to do our utmost to improve and accelerate the growth of non-oil exports while directing the non-oil imports toward more capital goods in the face of record high foreign investment agreements