Beyond crony capitalism : from banking crisis to financial crisis in Indonesia

Counters the common understanding of Indonesia's economic crisis as bound up in crony capitalism by arguing for a more complex view of "sources of vulnerability" and "precipitating" causes. These two aspects overlapped in the pivotal months between Aug 1997 and Mar 1998. Indonesia's banking sector, insufficiently capitalized and regulated while excessively guaranteed, was a chief area of vulnerability. The situation was also aggravated by the International Monetary Fund (IMF) and the Suharto government's weak macroeconomic administration.