Towards improved monetary policy in Indonesia
Bibliographic Data
| ID | 8416196 |
|---|---|
| Authors | Ross H Mcleod (Australian National University, corresponding author) |
| Year | 2003 |
| Volume | 39 |
| Issue | 3 |
| Pages | 303-324 |
| Publication date | 2003-12-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Bulletin of Indonesian Economic Studies (JOURNAL) |
| Journal identifiers | ISSN: 0007-4918 • E-ISSN: 1472-7234 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/0007491032000142764 |
| OpenAlex | W2157876142 |
| Language | EN |
| Citations received | 9 |
| References cited | 5 |
Indonesia's depreciation vastly exceeded that of all other countries hit by the Asian crisis. Indonesia also experienced far higher inflation. This paper argues that there is a close medium to long-term relationship between money growth and inflation in Indonesia, and that this has not been greatly disturbed by the crisis. It argues that the country's disappointing performance in relation to maintaining the value of the rupiah can be explained by the central bank's failure to sterilise the monetary impact on base money of its last-resort lending to the banks. The fundamental lesson is that Bank Indonesia would be well advised to adopt slow and steady growth of base money as the nominal anchor for monetary policy, now that the pre-crisis policy of slow and steady depreciation of the rupiah has been abandoned
Depreciation (economics) · Economics · Financial crisis · Inflation (cosmology) · Inflation targeting · Macroeconomics · Market economy · Monetary base · Monetary economics · Monetary policy · Value (mathematics) · Banking stability, regulation, efficiency · Global Financial Crisis and Policies · Islamic Finance and Banking Studies
The Indonesian Economy
Survey of Recent Developments
Survey of recent developments
Survey of recent developments
Dealing with bank system failure
The IMF and the Indonesian crisis
Using Engel curves to measure CPI bias for Indonesia
Post-crisis monetary and exchange rate policies in Indonesia, Malaysia and Thailands
Economic policies of the Habibie presidency
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,41 |
| Citation span | 2004 - 2017 (14) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 9 |