ABSTRACT
Indonesia, over the past 25 years, has been hailed as one of the dynamic countries and, together with ASEAN and ANIEs, the shining lights of the international economy (World Bank, 1993). Despite various commodity "boom" and "bust," the rise in international interest rates and currency realignments in the mid 1980s, the average annual inflation rate has been controlled at 17.5 percent in the 1970s and 8.6 percent in the 1980s. In terms of GDP, annually, the economy grew by an average of 7.7 percent in the 1970s and 5.5 percent in the 1980s (see table 1).
