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ASEAN Economic Bulletin Vol. 25, No. 2 (2008), pp. 16178
DOI: 10.1355/ae25-2c
I.
Introduction
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198688
Second external
shocks
198892
Non-oil led
economic recovery
199396
Continued
deregulation and
some ambivalence
Maintenance of
macroeconomic stability;
increased flexibility of
exchange rate and other
instrument to assist
monetary policy
Macroeconomic recovery
Maintenance of
macroeconomic stability
Maintenance of
macroeconomic stability,
although some inflation
from lack of sterilization
of oil revenue
Macroeconomic
stabilization; fiscal
austerity, devaluation
and tight monetary policy
Continued macroeconomic
stabilization; devaluation;
tight monetary policy
and balance budget
Macroeconomic Policy
Policy Direction
Continued deregulation,
improvement in financial
sector supervision,
substantive FDI deregulation
Government Regulation
SOURCE: Mainly adopted from Pangestu and Stephenson (1996) with some additional information from Vanzetti, McGuire, and Prabowo (2005), Aswicahyono and
Pangestu (2000), Amiti and Konings (2005) and Basri (2002).
198285
First external shocks
1997 present
Asian economic
crisis, commitment
to IMF international
and multiregional
commitments like
AFTA, APEC and
WTO
Change in External
Environment External
197481
Oil boom
Period
TABLE 1
External Shocks and Policy Direction
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FIGURE 1
The Value of Export and Import of Indonesia, 19602005
80000.
70000.
Prudent
Macro
economic
management
Devaluation
60000.
50000.
Exports
40000.
imports
30000.
Liberalization
20000.
10000.
0.
Year
SOURCE: UN-COMTRADE, authors calculation.
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FIGURE 2
Trends in the Comparative Advantage, 19792005
0.8
0.6
0.4
0.2
Growthoriented
First Major
trade
Trade
1986-1988
Reform
1983-1985
Unskilled-labour intensive
Natural-intensive
-0.2
-0.4
Primary products
Human-capital
i t i
-0.6
Technology-intensive
-0.8
-1
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the economic crisis 1997. In natural resourceintensive product, exports of plywood (accounted
almost 50 per cent of the total exports of all
manufacture in the mid-1980s) grew quite slowly
following the introduction of the log export ban.
In unskilled labour-intensive products, garment
and textile exports had faced quota limit under the
Multifibre Arrangement (MFA). For the period
after the economic crisis 1997, there have been
upward trends in the comparative advantage
excepting that of unskilled labour-intensive
products, which seems to be difficult to increase
since many competitors such as China and
Vietnam have come into the market.
IV. Structure of Protection
IV.1
Nominal Tariff
TABLE 2
Tariffs in Manufacturing Sector
(In percentages)
Tariff Rate
ISIC Industry
31
32
33
34
35
36
37
38
39
Food
Textile clothing
Wood
Paper
Chemicals
Metals
Machinery
Electrical
Other
All
Change in Tariff
1991a
1995a
2001a
2005b
21
27.8
24.2
21.21
15.6
23.04
11.5
18.9
32.48
20.88
20.99
20.1
17.95
10.09
12.05
10.62
8.08
14.75
22.11
15.6
16.21
9.39
6.91
4.03
6.92
5.65
5.77
6.72
10.97
8.44
6.9
7.5
5
2.5
5
5
5
5
10
5.8
22.8
53.3
61.5
60.1
42.6
46.8
28.6
54.4
50.4
45.9
57.4
20.1
27.6
38.0
27.7
11.5
13.3
25.6
8.8
31.3
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TABLE 3
Effective Rate of Protection by ISIC 2-digit Industry
(In percentages)
Effective Rates of Protection
ISIC Industry/sectors
31
32
33
34
35
36
37
38
39
Food
Textile clothing
Wood
Paper
Chemicals
Metals
Machinery
Electrical
Other
All
1991
1995
2001
2005
52.6
78.9
53.4
49.4
48.0
67.3
30.8
57.9
74.9
57.0
61.7
55.1
53.2
25.4
33.6
29.2
20.1
47.1
56.2
42.4
43.3
17.5
16.0
6.6
13.6
12.2
8.6
10.8
19.6
16.5
15.4
13.7
10.7
4.0
9.5
9.0
7.7
6.8
15.0
10.2
SOURCE: Calculations by the author based on data from IO Table BPS (1990, 1995, 2000),
Estimated IO Table CEPPS (2004), Amiti and Konings (2005).
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TABLE 4
Effective Rate of Protection by IO Code Industry
(In percentages)
Effective Rate of Protection
Indonesia
IO Code
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
Industry
Malaysiaa
Vietnamb
1991
1995
2001
2005
2003
2003
18.8
48.0
178.0
57.8
26.1
48.7
43.8
37.5
63.7
94.2
53.4
65.5
59.5
117.5
61.6
45.7
56.8
51.2
35.7
49.3
61.0
53.2
49.6
38.7
82.9
31.9
58.6
35.9
25.7
23.3
17.3
17.7
16.0
29.4
12.3
17.8
10.2
11.7
11.7
15.3
14.5
13.5
13.9
10.7
3.6
5.8
11.4
11.4
3.8
3.8
24.3
5.3
13.9
28.6
21.0
43.9
18.5
123.2
34.0
34.0
34.0
55.4
55.3
71.0
43.0
1.2
49.4
54.4
46.9
40.7
59.5
34.1
52.3
58.6
74.4
68.9
25.4
40.6
34.8
27.5
40.9
26.9
30.6
23.4
35.3
28.9
6.6
16.5
12.0
11.3
13.0
12.2
16.8
11.8
15.0
9.7
4.0
11.5
7.9
7.8
9.7
8.6
11.5
9.4
9.1
8.4
7.8
4.1
1.6
4.1
17.5
15.8
7.2
6.6
18.0
4.9
17.1
1.7
4.0
21.8
47.8
49.7
20.9
0.8
57.9
30.8
74.9
47.1
20.1
56.2
10.8
8.6
19.6
6.8
7.7
15.0
2.4
21.7
4.0
2.0
46.6
34.6
Maximum (Max.)
Minimum (Min.)
Range = (Max.Min.)
Simple Average
Standard Deviation
Coefficient of Variation
178.0
18.8
196.8
55.6
33.5
0.6
117.5
20.1
97.4
45.6
20.5
0.5
82.9
6.6
76.3
23.4
18.3
0.8
29.4
4.0
25.4
11.6
4.9
0.4
28.6
1.6
27.0
10.4
7.9
0.8
123.2
20.9
144.1
32.2
31.3
1.0
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TABLE 5
ERP Manufacturing Sector in Selected East Asian Countries
(In percentages)
Country
Indonesia
South Korea
Malaysia
Philippines
Thailand
Vietnam
Year
ERP
1975
1987
1990
1991
1995
2000
2001
2005
1970
1975
1980
1985
1988
1969
1979/80
1988
2003
1992
1999
1981
1988
2002
2004
1997
2002
2003
74
70
59
51a, 55.6b
25c; 42.4a,d, 45.6b,d
25.7
16.5a, 23.4b
10.2a, 11.6b
40
55
67
80
28
45
31
23
16e; 10.4f
32
10
74
51
25.2
22.7
121
95
44
Source
World Bank (1993)**
Fane and Condon (1996)**
World Bank (1993)**
This paper
c
Fane and Condon (1996)**; d This paper
Soesastro and Basri (2005)
This paper
This paper
World Bank (1993)
World Bank (1993)
World Bank (1993)
World Bank (1993)
Panagariya (1993)
Shalleh and Meyanadan (1993)
Shalleh and Meyanadan (1993)
Panagariya (1994)
e
Athukorala (2005a); f taken from Table 4
Panagariya (1994)
WTO (1999)*
World Bank (1993)
Panagariya (1994)
Athukorala et al. (2004)
Athukorala et al. (2004)
Athukorala (2002)
Athukorala (2002)
Athukorala (2005)
NOTE: * Calculated as the weighted average of estimates by industry reported in the given source. Weighting was
done by using value added data from UNIDO.
** Estimate for non-oil manufacturing.
a. the simple average of ERP of industry ISIC (taken from Table 3).
b. the simple average of ERP industry IO-codes (taken from Table 4).
SOURCE: Mainly from Athukorala (2005b) and authors calculation.
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V. Concluding Remarks
Over the past thirty-five years, Indonesian
manufacturing sector has been liberalized but this
has not been without periods of increasing
protection in the short or medium periods. This
paper has described the evolution of the industrial
and trade policies in Indonesia. To some extent,
the Indonesian industrial and trade policies follow
a statement of the supporters of deregulation and
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APPENDIX 1
The ETAs Product Classification
Products Classification
1. Primary products
001, 011, 012, 014, 022, 023, 024, 025, 034, 035, 036, 037, 041, 042, 043, 044, 045,
046, 047, 048, 054, 056, 057, 058, 061, 062, 071, 072, 073, 074, 075, 081, 091, 098,
111, 112, 121, 122, 211, 212, 222, 223, 232, 233, 244, 245, 246, 247, 248, 251, 261,
263, 264, 265, 266, 267, 268, 269, 271, 273, 274, 277, 278, 281, 282, 286, 287, 288,
289, 291, 292, 322, 323, 333, 334, 335, 341, 351, 411, 423, 424, 431, 941
2. Natural-resource
intensive products
524, 611, 612, 613, 633, 634, 635, 661, 662, 663, 667, 671, 681, 682, 683, 684, 685,
686, 687, 688, 689
3. Unskilled-labour
intensive products
651, 652, 653, 654, 655, 656, 657, 658, 659, 664, 665, 666, 793, 812, 821, 831, 842,
843, 844, 845, 846, 847, 848, 851, 894, 895
4. Technology intensive
products
511, 512, 513, 514, 515, 516, 522, 523, 541, 562, 572, 582, 583, 584, 585, 591, 592,
598, 711, 712, 713, 714, 716, 718, 721, 722, 723, 724, 725, 726, 727, 728, 736, 737,
741, 742, 743, 744, 745, 749, 751, 752, 759, 764, 771, 772, 773, 774, 775, 776, 778,
792, 871, 872, 873, 874, 881, 882, 883, 884, 893, 951
5. Human-capital
intensive products
531, 532, 533, 551, 553, 554, 621, 625, 628, 641, 642, 672, 673, 674, 675, 676, 677,
678, 679, 691, 692, 693, 694, 695, 696, 697, 699, 761, 762, 763, 781, 782, 783, 784,
785
6. Others
APPENDIX 2
Effective Rates of Protection
If ij and ik represent the amount of material inputs (j) and primary inputs (k) used per unit of output (i), respectively;
Pj and Pk are their world market prices; the world market price of output (Pi) is set to be unity; and r denotes the
percentage excess of domestic world market prices, world market and domestic prices can be represented by
equations (1) and (2), respectively:
1 = ij P j + ik Pk
(1)
(1 + ri ) = ij P j (1 + r j ) +
Domestic prices:
ik Pk
(1 + r k )
(2)
It is assumed that the product (i) and its material inputs (j) are traded and primary input (k) are not traded. Differences
(r) between domestic and the world market prices of trade goods can be due to tariffs and other protective measures.
Hence, equation (2) can be represented by:
Di =
(1 + ri ) ij P j (1 + r j )
j
ik Pk
(1 + T i ) ij P j (1 + T j )
j
ik Pk
(3)
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Domestic prices of inputs and inputs might be different from international ones. The percentage excess of domestic
prices over world market prices for the output and for material inputs is called the nominal rate of protection (T).
Taking the contribution of primary inputs to output (value added) as a unit, the effective rate of protection (D) is
defined as the percentage excess of the domestic price of the value added unit over its world market price. The
relevant world market prices are those a country faces in foreign trade, i.e., cost-insurance-freight (CIF) prices for
actual and potential imports and free-on-board (FOB) prices for export. In this paper, it is assumed that domestic
prices equal the sum of the CIF price and the tariff in the first case and the sum of FOB price and export subsidies in
the second. Since input coefficient are assumed to be constant, this general formulation of effective protection can
reinterpreted as the percentage of domestic value added (DVA) over world market value added (WVA).
In this paper, the ERP of Indonesian manufacturing sector is calculated by the use of input-output coefficients,
which refer to the value of inputs per unit of output. Under free trade conditions, input-output coefficients (aij) will be
equal to the corresponding input coefficient defined in natural units time the ratio of the world market price of the
input to that of output a ij = ij
Pj
Pi
= ij P j (taking again the world market price of output to be one). Equation (3)
Di =
DVA i WVA i
=
WVA i
(1 + T i ) a ij P j (1 + T j )
j
1 a ij
1=
T i a ij T j
j
(4)
1 a ij
j
NOTES
The author would like to thank Professors Masumi Hakogi, Toshiyuki Mizoguchi, Haruko Nokita, and two
anonymous referees for valuable comments and suggestions.
1. The flying geese paradigm was introduced by Kaname Akamatsu in the 1930s to explain the catching-up
process of industrialization of latecomer economies from intra-industry, inter-industry and international aspects.
2. Hill (1997) notes four of them.
3. Deregulation in the taxation included income tax (in 1984), value added tax (in 1985) and property tax (in 1986).
Deregulation in trade covered reduction of trade tariff from 0225 per cent to 060 per cent (March 1985), duty
drawback and imported inputs (Presidential Decree No. 4/1985 about Custom Duties). Financial deregulation
covered the devaluation of Indonesian currency rupiah by 28 per cent (March 1983), abolishment of control on
interest rate and credit ceiling (June 1983).
4. Some examples of the policies are the change from import licence to general import, elimination of non-tariff
barriers and continued tariff reduction (October 1986January 1987); simplification of quota on textile (July
1987); continued deregulation on export-import system and foreign investment (December 1987); elimination of
monopoly on plastic and steel import (November 1988); introduction of harmonized system (HS) of trade
classification (January 1989). Financial deregulation covered abolishment of swap ceiling (October 1986),
devaluation of rupiah by 31 per cent (12 September 1986), new bank establishment, reserve requirement from 15
per cent to 2 per cent and abolishment lending limit (October, 1986), share and derivative market (December
1987), financial service (December 1988).
5. The CGE INDORANI model is an economy-wide and sector level static-comparative model of an applied
general equilibrium model for the Indonesian economy. The model is derived from the ORANI model first
developed by the IMPACT Project at Monash University, Australia (see Dixon et al. 1977; Powell 1991). It has
been adjusted in terms of equations, closures, parameters, and data according to the current Indonesian economic
conditions and behaviour, which are unique in nature, for example, in the labour market, household breakdown,
energy sectors, and regional breakdown.
6. See Empirical Trade Analysis at <http://people.few.eur.nl/vanmarrewijk/eta/> for further information.
7. Since the distribution of RSCA is skewed one, the median is a better measurement than the mean.
8. The Indonesian Central Bureau of Statistics (Badan Pusat Statistik, or BPS) regularly publishes IO table every
five years. This paper requires IO Table for 1990, 1995, 2000 and 2005. Since IO Table for 2005 has not been
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published yet, this paper estimates IO Table 2005 by using the non-survey method known as the RAS method.
See Miller and Blair (1985) and CEPPS (2004), among others, for the detailed explanation. The RAS method is
used to find the matrix of technology by using the available matrix of technology. Let A2 and A(0) denote the
initial (existing) and the final (updated) technical coefficient matrices in the IO table, respectively. Let R1 and S1
denote diagonal matrices related to total industry sales by sector i and total inter-industry input purchase by
sector j in year 1, respectively. Miller and Blair (1985, p. 281) formulate A2 = R1A(0)S1. Ignoring superscripts
and the (0), representing base-year information, we have RAS on the right-hand side. This is the origin of the
name of the non-survey technique.
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World Bank. The East Asian Miracle: Economic Growth and Policy. New York: Oxford University Press, 1993.
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Tri Widodo is a lecturer at the Faculty of Economics and Business, Gadjah Mada University, Indonesia; and
currently a student at Doctoral Program, Graduate School of Economics, Hiroshima University of Economics (HUE),
Japan.
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