Indonesia: the most important trends, proportions and factors of economic development. Part 1

Affiliation:
The Department of International Economics of Asian and African Countries, Institute of Asian and African Studies, Lomonosov Moscow State University
“Aziya i Afrika segodnya” journal
Address: Russian Federation,

Irina Adrova

Occupation: Post-graduate student
Affiliation: Department of International Economic Relations of Asian and African countries, Institute of Asian and African Studies
Address: Russia

Journal name

Asia and Africa Today

Edition

Issue 3

Pages

5-13

Abstract

The paper, based on the author's computations, models and indices, analyzes the main trends and determinants of the long-term economic evolution of Indonesia, one of the largest countries in the developing world.

After the Asian financial crisis of 1997, as a result of which Indonesia's GDP fell by 13% (in 1998), the country embarked on the path of socio-economic transformation and was able to achieve not only rapid, but also large-scale growth, which was accompanied by a number of major structural changes in the economy. Despite a number of arising economic and social imbalances, in general, Indonesia’s economy is growing at a faster rate than that of other developing countries.

Main factors that contribute to the realization of the catching up and outpacing development of Indonesia's economy are export expansion, import substitution and growth of the domestic market. Moreover, Indonesia has seen significant improvements in some of the most important characteristics of human development, the share of the population living in critical poverty fell from 55% (in 1990) to 4% (in 2018), the proportion of malnourished people in 1990-2018 has decreased by half.

The paper shows that, despite difficulties and some setbacks, through the up-to-date implementation of well-balanced effective reforms, one can achieve significant economic and social progress during a time equal to the life of one or two generations of people.

Keywords

Indonesia, factors and models of economic growth, efficiency of development, social achievements and problems

Received

08.12.2020

Publication date

28.03.2021

Number of characters

27335

Cite

GOST	Meliantsev V., Adrova I. Indonesia: the most important trends, proportions and factors of economic development. Part 1 // Asia and Africa Today – 2021. – Issue 3 C. 5-13 [Electronic resource]. URL: https://asaf-today.ru/S032150750014279-8-1 (circulation date: 19.04.2024). DOI: 10.31857/S032150750014279-8
MLA	Meliantsev, Vitalii A, Adrova, Irina "Indonesia: the most important trends, proportions and factors of economic development. Part 1." Asia and Africa Today 3 (2021):5-13. DOI: 10.31857/S032150750014279-8
APA	Meliantsev V., Adrova I. (2021). Indonesia: the most important trends, proportions and factors of economic development. Part 1. Asia and Africa Today (3), pp.5-13 DOI: 10.31857/S032150750014279-8

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