ABSTRACT
For most of Soeharto's 32-year reign, Indonesia's economic development was outstanding. Within a few years of Soeharto taking power from Indonesia's first president, Soekarno, the Indonesian economy was growing at an average of around 7 per cent per annum – a rate that continued until 1996. Soeharto's self-titled New Order (Orde Baru) significantly reduced poverty (World Bank 1990) and markedly improved living and educational standards (Thee 2008). Progress was so good that in 1994 the World Bank proclaimed Indonesia one of the eight ‘High Performing Asian Economies’, alongside Japan, South Korea, Taiwan, Hong Kong and Singapore (World Bank 1994).
