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This paper provides an analytical narrative of Indonesian economic growth over the past two decades. Particular attention is paid to the key economic crisis events of 1997-1998 and 2008-2009, and how and why Indonesia's response to them was completely different. We emphasize and illustrate how the years 1997-1998 were a watershed in the country's economic history and political economy. We underline the country's generally good economic performance, especially the rapid recovery over the past decade, while also highlighting the fact that its economic growth has never quite matched that of the very high-growth East Asian economies. The final section analyzes some key policy challenges, including embedding reforms in a highly fluid political environment, macroeconomic management, and "connectivity" and regional (subnational) development.

This paper provides an analytical narrative of Indonesian economic growth over the past two decades. Particular attention is paid to the key economic crisis events of 1997-1998 and 2008-2009, and how and why Indonesia's response to them was completely different. We emphasize and illustrate how the years 1997-1998 were a watershed in the country's economic history and political economy. We underline the country's generally good economic performance, especially the rapid recovery over the past decade, while also highlighting the fact that its economic growth has never quite matched that of the very high-growth East Asian economies. The final section analyzes some key policy challenges, including embedding reforms in a highly fluid political environment, macroeconomic management, and "connectivity" and regional (subnational) development.

We investigate the nexus of public and private investment and assess the impact of both types of investment on growth. Using annual data for 1965-2005, we employ a coherent set of structural VAR outputs to model investment and growth in Benin. We find that in addition to institutional and regulatory developments, public investment and private capital formation facilitated by access to financial services have a significant impact on growth. The analysis supports the crowding-in effect of public investment. It also confirms that the slow pace of improvement in Benin's economic freedom index, whi

AbstractThis paper investigates the dynamic effects of external debt on economic growth in Nigeria from 1970 through 2013. We begin by constructing an external debt sustainability index using principal component analysis to capture the overall effects of external debt indicators on economic growth. The empirical analysis is based on the ARDL bound test. The results show a long‐run cointegration relationship between the variables. While external debt exerts an adverse effect of −0.069 per cent on growth in the long run, the external debt sustainability index shows a positive effect of 0.072 per cent and 0.024 per cent on growth in the long and short run. The findings suggest the government should reduce its expenditure and mobilize revenue through domestic sources to invest in projects with a high rate of return to enable debt repayment and stimulate growth. To maintain debt ratios within a manageable threshold so as to avoid being debt trapped, foreign loans should only be contracted on concessional terms.

In Zeiten von Klimawandel und zunehmender makroökonomischer Instabilität seit der globalen Wirtschaftskrise von 2008/2009 entdeckten die Disziplinen der Wirtschaftsgeographie und Regionalökonomik das aus der Psychologie stammende Konzept der Resilienz, um die Widerstands- und Erholungsfähigkeit ökonomischer Raumsysteme gegenüber exogenen Schocks zu messen, zu erklären und daraus neues Handlungswissen für die Politik zu generieren. Vor diesem Hintergrund untersucht diese Dissertation die Auswirkungen exogener Schocks auf das regionale Wirtschaftswachstum und modelliert Einflussfaktoren, die potenziell zur regionalökonomischen Resilienz europäischer Regionen beitragen. Die quantitativen Analysen differenzieren nach anthropogenen (Finanzkrisen und rezessive Schocks) und klimatisch induzierten Schocks (Wetter-anomalien). Die empirischen Studien identifizieren heterogene Schock-Effekte und Determinanten, welche die räumlichen Schadensmuster in Europa erklären. ; In economic geography and regional economics, an intensified discourse on resilience in the context of policy recommendations to stabilize and promote sustainable regional growth can be particularly observed since the so-called 'Great Recession' in 2008/2009. This dissertation contributes to expanding the scientific understanding of the topic as it explores the spatial patterns of shock responses and links these patterns to determinants that potentially shape the economic resilience of European regions. In doing so, the dissertation provides empirical foundations whether and to what extent shocks or disturbances are able to unevenly affect the economic performance of regions. The quantitative studies address two types of shocks: anthropogenic disturbances (recessions and financial crises) and environmental shocks (climate change and weather anomalies). In the last step, contributions to the literature are highlighted and policy recommendations are derived from the empirical findings.

As the current phenomenon of "jobless growth" has gripped the Indian labor market, the subnational literature on how states have fared on employment generation in the post‐liberalization period has been sparse. We examine the changing trends in employment and income among different sectors and subsectors of the economy of Odisha, an eastern Indian state, over the period 2011–2012 to 2017–2018 which is coincident to the Naveen Patnaik government which has been in power since March 2000 to date. Adopting the World Bank's Job Generation and Growth Decompositions tool (JoGGs) inspired by Shapley (1953. Contributions to the theory of games. Princeton University Press) decomposition method, we decompose growth across different sectors of its economy and examine how the per capita income growth is linked to changes in employment, output per worker, and population structure at the aggregate level and by sectors. We find there is a sharp decline in employment growth rate in the agriculture sector, a moderate growth in the mining sector, and a high growth only in the construction and a few service subsectors in Odisha. There has been significant output growth across industrial and service sectors and low growth in the agriculture‐sector. Low employment creation in the agriculture sector and negative employment growth in manufacturing sector have had implications for seasonal migration and rural agrarian distress in the state. The dismal overall trend in the employment growth makes it imperative on the part of the government to undertake serious policy interventions in Odisha.