Three sets of factors came together to cause the economic meltdown in Indonesia in 1997: negative external shocks (financial contagion, adverse terms of trade), weak fundamentals (financially fragile banks, over-reliance on foreign loans by corporations), and incompetent management (overly-rigid exchange rate, inadequate prudential supervision). When the crisis unfolded, the government was paralysed by indecision over adoption of a currency board, reduction of large state-guaranteed investments, and implementation of economic deregulation. The IMF's insistence on abrupt bank closures accelerated the bank-run, and its insistence on abrupt fiscal tightening deepened the output collapse. Recovery to sustained growth will require recapitalization of banks, improved monitoring of the financial system, prudent regulation of capital inflows, external debt relief, greater flexibility in the exchange rate, comprehensive microeconomic deregulation, and better macroeconomic management.
The Institute of Southeast Asian Studies launched the ASEAN Economic Bulletin (AEB) in July 1984. Since then, AEB has become a reputable academic journal providing contemporary, rigorous, and insightful analyses on the economies of Southeast Asia. It covers a wide range of economic topics and issues concerning individual member countries of ASEAN and the Southeast Asian region as a whole; as well as intra- and inter-regional aspects that involve interaction among the member countries of ASEAN, and their economic relations with the Asia-Pacific region and the rest of the world. AEB is published three times a year - in April, August, and December. The April issue is designated as a special issue, with focus on a specific theme. The editors of AEB welcome scholarly article submissions that have clear policy relevance and pertain to the ASEAN region and its member countries. Submissions from young academics are especially encouraged.
ISEAS - Yusof Ishak Institute is a regional centre dedicated to the study of socio-political, security and economic trends and developments in Southeast Asia and its wider geostrategic and economic environment. The institute’s research programmes are the Regional Economic Studies (RES, including ASEAN and APEC), Regional Strategic and Political Studies (RSPS), and Regional Social and Cultural Studies (RSCS). ISEAS Publishing, an established academic press, has issued more than 2,000 books and journals. It is the largest scholarly publisher of research about Southeast Asia from within the region. ISEAS Publishing works with many other academic and trade publishers and distributors to disseminate important research and analyses from and about Southeast Asia to the rest of the world
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