Since the Asian Financial Crisis in 1997/1998, Indonesia has made great strides in terms of market based economic reforms. This has included reducing barriers to trade, investment and entrepreneurship, as well as privatizing state-owned enterprises.
The roots of Indonesia’s market based reforms can be traced back to the early 1990s, when the country faced a number of serious economic problems. Inflation was rampant, the budget deficit was high, and foreign debt was increasing. In an effort to address these issues, …