From Economic Miracle to Financial Crisis in Southeast Asia: An Erosion of Social Achievements and a Return to Poverty?

By Rodolphe de Koninck, Terry G. McGee
English

Since the 1960s, most countries in Southeast Asia have made significant progress, both in terms of economic growth and social well-being. Agricultural productivity, industrialization, and urban development have leapt forward, and major successes have been achieved in the fight against poverty, especially in Indonesia. However, there continue to be large social and regional disparities and these have even widened. Although its negative economic consequences have begun to be reabsorbed, the 1997–“98 financial crisis has nonetheless left deep scars, which continue to threaten social achievements, once again particularly in Indonesia.

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