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Stable monetary systems form one of the pillars on which rapid economics development in Southeast Asia in recent decades has been based. The same was true in the past. Monetary stabilization became as important issue after 1870, when silver depreciated rapidly against gold and Western countries switched to the gold standard. Colonial Indonesia followed the Netherlands in this respect. On the ardent advice of N.P van den Berg, then president of the central bank, the Java Bank, it was the first Asian country to stabilize its currency against gold, in this case against the gold-based Dutch guilder. Van den Berg was a prominent proponent of monetary stabilization and was well known for his contributions to he dicussion about currency systems and monetary policy in the government of British India, which was at the time exploring ways to achieve stabilization of the rupee. Both the arguments and the wealth of data in the reprint of this very rare book will be of interest to historians of Southeast Asia.
Published papers whose appeal lies in their subject-matter rather than their technical statistical contents. Medical, social, educational, legal,demographic and governmental issues are of particular concern.
Indonesia’s trajectory towards successful economic growth has been long and capricious. Studies of the process often focus either on the Netherlands Indies or independent Indonesia, suggesting the existence of fundamental discontinuities. The authors of the 17 essays in this book adopt a long-term perspective that transcends regimes and bridges dualist economic models in order to examine what did and did not change as the country moved across the colonial-postcolonial divide, and shifted from reliance on exports of primary products to a multi-centred economy. The aim is to analyse how economic development grew out of the interplay of foreign trade, new forms of entrepreneurship and the political economy. The authors deal with entrepreneurship and economic specialization within different ethnic groups, the geographical distribution of exports and resource drains from exporting regions, and connections between an export economy and mass poverty. One recurring issue is the way actors from different ethnic groups occupied complementary niches, highlighting the rich variety of roles played by Asian entrepreneurs. A study of the international sugar trade shows how regime change fostered co-operation between different ethnic groups and nationalities involved with trading networks, inter-island shipping, urban public transport, and the construction sector. A comparison of export earnings and population groups involved in trade before and after 1900 shows that unexpected agricultural and industrial transitions could underpin a fundamental shift in income growth, with improved living standards for broad sectors of the population.
Dutch Commerce and Chinese Merchants in Java describes the vanished commercial world of colonial Java. Alexander Claver shows the challenges of a demanding business environment by highlighting trade and finance mechanisms, and the relationships between the participants involved.