Reform of economic laws and its effects on the post-crisis Indonesian economy

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)

Abstract

This study evaluates the effectiveness of the economic laws some of which were introduced in the IMF-led post-crisis reforms to address serious problems faced by the Indonesian economy. It is argued in the study that the economic law reform has not been as effective as expected since the implementation of a law has not conformed with legal policy. The objective of the legal policy of the Bankruptcy Act, which was enacted in accordance with IMF conditionality, was to liquidate insolvent domestic companies and to relieve foreign creditors. At the implementation stage, however, the ruling of the commercial courts was often handed down against creditors. The ineffective implementation was due to several factors; one of them was judges' defensive reaction to possible hostile takeover by foreign creditors.

Original languageEnglish
Pages (from-to)72-90
Number of pages19
JournalDeveloping Economies
Volume43
Issue number1
DOIs
Publication statusPublished - 1 Jan 2005

Fingerprint Dive into the research topics of 'Reform of economic laws and its effects on the post-crisis Indonesian economy'. Together they form a unique fingerprint.

Cite this