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Title: A Tale of Two Governments: The Political Economy of Indonesian Investment Climate Reform (2004-2019)
Authors: Iksan, Muhamad
Contributors: 東亞研究
Keywords: Investment climate reform ;government policy ;East Asian investment ;ease of doing business ;Susilo Bambang Yudhoyono ;Joko Widodo administrations 
投資環境改革 ;政府政策 ;東亞投資 ;經商環境評比 ;尤多約諾政府 ;佐科威政府
Date: 2020-12
Issue Date: 2022-04-08 15:16:26 (UTC+8)
Abstract: This paper aims to explain three problems associated with investment climate reform under two Indonesian presidents. The first question explores the results of investment climate reform under the two administrations of Susilo Bambang Yudhoyono (SBY) and Joko Widodo (Jokowi) based on selective indicators such as the Investor Confidence Index and Ease of Doing Business. The second question is concerned with reforms that were implemented by the SBY and Jokowi administrations to improve the investment climate from a political economic perspective, including how and why these reforms differ from one another. The third question addresses the origin of foreign investment in East Asia from 2004 to 2019. Indonesia had improved its status among the 190 countries in the World Bank's Ease of Doing Business rankings during the Jokowi Administration, although this indicator was apparently neglected by the government of Indonesia when employing the AT Kearney Foreign Direct Investment Confidence Index. Reforms of the investment climate under both governments are given a qualitative description. Other than the outcomes of investment, this study is also interested in the two other variables of domestic political fragmentation and the external economic environment. Southeast Asia’s investment figures post-Asia Financial Crisis had altered structure of the international capital with its domestic environment, including Indonesia. Therefore, fostering a greater quantity of investment from East Asia and improving the inclusivity of foreign investment have been the main objectives of investment climate reform under the two governments. East Asian countries have had an extensive history as source of foreign investment for Indonesia, particularly Japan and Hong Kong. Most recently, China, South Korea and Taiwan have also targeted Indonesia as a destination for investment.
Relation: 東亞研究, 51(2), 72-114
Data Type: article
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