6min chapter

The Seen and the Unseen - hosted by Amit Varma cover image

Ep 321: Josh Felman Tries to Make Sense of the World

The Seen and the Unseen - hosted by Amit Varma

CHAPTER

The Indonesian Crisis - Was There a Crisis in Indonesia?

Before the crisis, Indonesia had a policy framework that worked well in many respects. The one absolutely critical mistake was in promoting these national champions who borrowed from abroad. Then after the crisis, the fiscal position was ruined because they had to bail out the banks and therefore started borrowing domestically. All of these things came as a result of the crisis. They haven't gotten to trouble since.

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