Reference no: EM133084230

Developing countries have experienced an extraordinary period of economic development over the last couple of decades".By using appropriate growth/development theories, critically analyse the recent wave of economic growth and development in Indonesia.

Describe and evaluate the process of economic development of the country. Where possible, on top of describing the current situation,include some indication of recent trends in key variables to provide a historical pattern over a period of at least the last two decades.

Show the observed pattern of development relating to:

Internal and external circumstances of Indonesia;

Socio-economic indicators identified in Indonesia;

Development strategies and policies adopted by the government or governments concerned;

Lessons of experience if any for the contemporary developing world.

Guidelines: Use appropriate growth theories to discuss the question.

Give an overview of economic development during a defined period, e.g. economic development in China since the 1980 focusing on the various episodes of policy changes.

Internal circumstances or factors could include, amongst other things, resource endowments, population, social and cultural factors, environmental hazards, and civil war.

External circumstances or factors could include, amongst other things, world market conditions for the country's major exports, special trade arrangements, and aid dependency.

Strategies and policies could be,amongst other things,those pursued by colonial as well as various post-independent governments, adn may include such approaches as rapid industrialisation,export expansion and so on.