ISBN:
0415399041
,
9780415399043
Language:
English
Pages:
XXV, 258 S.
Series Statement:
Routledge contemporary Southeast Asia series 13
Series Statement:
Routledge contemporary Southeast Asia series
DDC:
330.9598
Keywords:
1997-1998
;
Wirtschaftslage
;
Konglomerat
;
Indonesien
;
Finanzkrise
;
Financial crises
;
Indonesia Economic conditions 1997-
;
Indonesien
;
Wirtschaftliche Lage
;
Finanzkrise
Abstract:
"This book examines the underlying causes of the financial crisis that struck Indonesia during the second half of 1997 and 1998. It argues that the roots of the crisis lay in the financial activities undertaken by the Indonesian corporate sector during the boom years from 1994 to 1997, which encouraged the development of fragile and unstable financial structures, involving increased corporate leverage, reliance on external debt and the introduction of riskier and more complicated financial instruments and transactions. It goes on to consider four detailed conglomerate-level case studies that illuminate the microeconomic foundations of the crisis, showing how Indonesian capitalists sought to liquidate their Indonesian assets without losing control of their corporate empires, by taking advantage of increased access to foreign loans and complex financial re-engineering actions which ultimately precipitated instability and crisis throughout the entire financial system. Finally, it reflects upon the policy implications of this episode, putting forward the case for comprehensive capital controls for open and developing economies until they establish appropriate financial institutions to monitor and manage the level of indebtedness and the volatility of capitalists' behaviour. Overall, this book provides incisive analysis of a critical phase in recent East Asian financial history."--Jacket
Description / Table of Contents:
Indonesia's external debt problem in the 1990sMinsky's financial instability hypothesis : interpretation and critical adjustments for the Asian context -- Methods and databases for empirical studies -- The financial positions of the Indonesian corporate sector in the 1990s -- The analysis of offshore syndicated debt for Indonesian borrowers during the finance boom in the 1990s -- Case study 1 : the Salim Group's financial activities in the 1990s -- Case study 2 : the Lippo Group's financial activities in the 1990s -- Case study 3 : the Sinar Mas Group's financial activities in the 1990s -- Case study 4 : the Gajah Tunggal Group's financial activities in the 1990s -- The collapse of cash-flow chains -- Conclusions.
Description / Table of Contents:
Land tenure, conservation and development in Southeast Asia / Peter Eaton -- The politics of Indonesia-Malaysia relations : one kin, two nations / Joseph Chinyong Liow -- Governance and civil society in Myanmar : education, health and environment / Helen James -- Regionalism in post-Suharto Indonesia / edited by Maribeth Erb, Priyambudi Sulistiyanto, and Carole Faucher -- Living with transition in Laos : market integration in Southeast Asia / Jonathan Rigg -- Christianity, Islam, and nationalism in Indonesia / Charles E. Farhadian -- Violent conflicts in Indonesia -- Analysis, representation, resolution / edited by Charles A. Coppel -- Revolution, reform, and regionalism in Southeast Asia -- Cambodia, Laos, and Vietnam / Ronald Bruce St John -- The politics of tyranny in Singapore and Burma -- Aristotle and the rhetoric of benevolent despotism / Stephen McCarthy -- Ageing in Singapore -- Service needs and the state / Peggy Teo, Kalyani Mehta, Thang Leng Leng, and Angelique Chan -- Security and sustainable development in Myanmar / Helen James -- Expressions of Cambodia -- The politics of tradition, identity, and change / edited by Leakthina Chau-Pech Ollier and Tim Winter -- Financial fragility and instability in Indonesia / Yasuyuki Matsumoto
Note:
Includes bibliographical references and index
URL:
http://www.loc.gov/catdir/toc/ecip0612/2006012732.html
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