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Erschienen in:
Iwan Jaya Azis: A Person, an Economist, and a Regional Scientist Kapitel lesen Erstes Kapitel lesen

2024 | OriginalPaper | Buchkapitel

9. Indonesia and Vietnam in Global Supply Chains and the Age of COVID: A Tale of Two Countries

verfasst von : Willem Thorbecke, Atsuyuki Kato

Erschienen in: The Indonesian Economy and the Surrounding Regions in the 21st Century

Verlag: Springer Nature Singapore

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Abstract

Indonesia’s economic performance since 2000 has been respectable. It has not succeeded, however, at joining global value chains (GVC). Vietnam, on the other hand, is a key link in GVCs for electronics, textiles, and other sectors. This chapter recounts the experiences of Indonesia and Vietnam at attracting foreign direct investment, exporting, and coping with the COVID-19 pandemic. It considers why Indonesia has been less successful than Vietnam at joining GVCs. It then concludes with several recommendations for how Indonesia could attract FDI and avoid scarring from the pandemic.

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Vorheriges Kapitel Economic Impact of the 2018 Asian Games in Indonesia
Nächstes Kapitel Education and Expenditure Inequality in Indonesia and the Philippines: A Comparative Analysis in an Urban and Rural Dual Framework
Fußnoten
2
Supply chains or value chains refer to all of the links between companies purchasing initial inputs and those delivering final goods to customers. Often many companies are involved in these networks. The links can be intricate, involving slicing up production into discrete tasks, allocating production blocks based on comparative advantage, and combining intra-firm and arm’s length relationships into the production process.
 
3
The next three paragraphs draw on Ozawa (2007) and Thorbecke and Salike (2014).
 
4
As Azis and Yarcia (2015) have noted, another factor that attracts FDI is domestic demand-led growth. Azis and Yardia observed that, after the 2008–2009 Global Financial Crisis, stronger growth in East and Southeast Asia compared to Western countries led to FDI inflows into the region. Azis and Shin (2015) warned, however, that these types of inflows are procyclical and thus increase the risk of subsequent capital flight.
 
5
ADB (2018), Arbatli and Hong (2016), Abiad et al. (2018), Thorbecke et al. (2021, 2022), and others have found that exports of more complex products, where complexity is measured by the PCI, tend to be more robust to trade wars, exchange rate changes, and other shocks compared to exports of simpler products. This occurs because importers require more time and effort to find substitutes for goods that are complex. Thus, exporting more complex products can make a country’s trade more resilient.
 
6
The URL for the Atlas website is https://​atlas.​cid.​harvard.​edu
 
7
This paragraph draws on Anh et al. (2006).
 
9
Parts of the section draw on the IMF summary of policy responses to COVID that is available here https://​www.​imf.​org/​en/​Topics/​imf-and-covid19/​Policy-Responses-to-COVID-19
 
10
These data come from World Bank (2021).
 
12
This definition and the data in this paragraph are obtained from https://​www.​worldbank.​org/​en/​publication/​human-capital
 
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Metadaten
Titel
Indonesia and Vietnam in Global Supply Chains and the Age of COVID: A Tale of Two Countries
verfasst von
Willem Thorbecke
Atsuyuki Kato
Copyright-Jahr
2024
Verlag
Springer Nature Singapore
Buch
The Indonesian Economy and the Surrounding Regions in the 21st Century

Print ISBN: 978-981-9701-21-6

Electronic ISBN: 978-981-9701-22-3

Copyright-Jahr: 2024

DOI
https://doi.org/10.1007/978-981-97-0122-3_9