Indonesia's Non-Oil Export Performance During the Economic Crisis

Distinguishing Price Trends from Quantity Trends

Bibliographic Data

ID8416873
AuthorsL Peter Rosner (International Institute for Management Development, corresponding author)
Year2000
Volume36
Issue2
Pages61-95
Publication date2000-08-01
Peer ReviewedYes
Open AccessNo
TypeARTICLE
VenueBulletin of Indonesian Economic Studies (JOURNAL)
Journal identifiersISSN: 0007-4918 • E-ISSN: 1472-7234
PublisherInforma UK Limited (PUBLISHER • GB)
DOI10.1080/00074910012331338893
OpenAlexW2079048029
LanguageEN
Citations received7
References cited1

Despite an enormous currency depreciation, the growth rate of Indonesia's non-oil exports, measured in dollars, did not accelerate during the first two years of the Asian crisis. In fact, during the second year of the crisis non-oil export value dropped sharply. This paper demonstrates that the main reason for the decline in the dollar value of non-oil exports was a collapse of export prices. Non-oil export dollar prices fell 26% between the second quarter of 1997 and the second quarter of 1999. Measured at constant prices, non-oil exports grew 24% and manufactured exports 31% during this period. Non-oil import prices fell by roughly the same amount as non-oil export prices during the crisis, with little change in the non-oil terms of trade. The decline in the price of traded goods significantly reduced the magnitude of the real exchange rate depreciation experienced by Indonesia

Agricultural economics · Crude oil · Currency · Depreciation (economics) · Economics · Exchange rate · Geography · International economics · Liberian dollar · Market economy · Monetary economics · Oil price · Quarter (Canadian coin) · Us dollar · Value (mathematics) · Global Financial Crisis and Policies

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