수완나부미 (SUVANNABHUMI)

  • 제13권2호
  • /
  • Pages.7-35
  • /
  • 2021
  • /
  • 2092-738X(pISSN)
  • /
  • 2799-7839(eISSN)
부산외대 아세안연구원 (Korea Institute for ASEAN Studies)
권호 표지
DOI QR코드

DOI QR Code

The Impact of COVID-19 Pandemic on Indonesia's Economy and Alternative Prospects for Untact Society

  • 투고 : 2021.06.07
  • 심사 : 2021.07.19
  • 발행 : 2021.07.31
PDF 다운로드
⟨ 이전 논문 다음 논문 ⟩

초록

This research is an attempt to understand the economic and social consequences that are occurring in Indonesia due to the spread of COVID-19. Indonesia, which has maintained solid economic growth since the inauguration of President Jokowi's government, is also experiencing difficulties to deal with unexpected COVID-19 pandemic as the global economic turmoil has had a very significant impact on its economy. The economic impact of COVID-19 can be felt, starting from the phenomenon of panic buying, the free fall of the stock price index, the depreciation of the Rupiah against the Dollar, sluggish activities in the processing industry, and ultimately it has an impact on slowing economic growth. Various policies and measures have been taken by the Indonesian government to minimize the negative impact caused by the COVID-19 pandemic on the economy. One such area is electronic commerce business or e-commerce that witnessed a vast increase of online and non-cash transaction amid rising voices that the country needs to prepare for the advent of a new economic system, the so-called New Normal era. The Covid-19 pandemic will temporarily slow economic growth and delay some development projects and policy initiatives as the Indonesian government diverts capital from infrastructure development to help respond to the crisis. However, the Jokowi administration's efforts for continuous reform are expected to accelerate the transition to the digital economy.

키워드

과제정보

This work was supported by Youngsan University Research Fund of 2021.

참고문헌

  1. Adrian Wakil Akhlas. 2020. Millions to lose jobs, fall into poverty as Indonesia braces for recession. The Jakarta Post. (April 15, 2020). https://www.thejakartapost.com/news/2020/04/14/ millions-to-lose-jobs-fall-into-poverty-as-indonesia-bracesfor- recession.html. (Accessed August 6, 2020).
  2. Adrian Wail Akhlas and Esther Samboh. 2020 Pandemic an opportunity for reforms in Indonesia: Sri Mulyani. The Jakarta Post. (August 21, 2020). https://www.thejakartapost.com/news/2020/08/21/pandemic-an-opportunity-for-reforms-in-indonesia-srimulyani.html (Acessed March 8, 2021).
  3. Alix Partners Disruption Insights 2020. COVID-19 through the lens of disruption: Seven years of change in seven months. https://www.alixpartners.com/disruption-insights/covid-19-lens-of-disruption/. (Accessed March 27, 2021).
  4. APJII. 2018. Laporan Survei: Penetrasi & Profil Perilaku Pengguna Internet Indonesia. Jakarta (Indonesia).
  5. BAKTI. 2019. Laporan Tahunan 2018: Indonesia Merdeka Sinyal 2020. Badan Aksesibilitas Telekomunikasi Indonesia, Kementerian Komunikasi dan Informatika: Jakarta (Indonesia).
  6. Basri, Chatib. 2017. India and Indonesia: Lessons Learned from the 2013 Taper Tantrum. Bulletin of Indonesian Economic Studies, 53(2): 137-160. https://doi.org/10.1080/00074918.2017.1392922
  7. Bisara, D. 2019. Indonesia's E-commerce Market Larger than Estimated; Consumer Habits Changing: Study. https://jakartaglobe.id/context/indonesias-e-commerce-market-larger-than-estimated-consumer-habits-changing-study. (Accessed June 29 June 2021).
  8. Dekker, Brigitte. 2020. The Impact of COVID-19 Measures on Indonesian Value Chains. Clingendael: Netherlands Institute of International Relations.
  9. Dito Aditia Darma Nasution, Erlina dan Iskandar Muda. 2020. Dampak COVID-19 Terhadap Sektor Ekonomi Indonesia. Jurnal Benefita, 5(2):212-224. https://doi.org/10.22216/jbe.v5i2.5313
  10. EKONID Insight. 2021. COVID-19 developments in Indonesia. (04/02/2021).
  11. Erien, Mohamed El. 2008. When Markets Collide: Investment Strategies for the Age of Global Economic Change. New York: McGraw-Hill Education.
  12. FocusEconomics. 2020. Indonesia Economic Outlook. (2020.5.26).
  13. Frost & Sullivan. 2018. Digital Market Overview: Indonesia. https://ww2.frost.com/files/3115/2878/4354/Digital_Market_Overview_FCO_Indonesia_25May18.pdf. (Accessed June 27, 2021).
  14. German-Indonesian Chamber of Industry and Commerce. 2021. COVID-19 developments in Indonesia. EKONID Insight. (04/02/2021).
  15. Google and Temasek/Bain. 2019. e-Conomy SEA 2019: Swipe Up and to the Right: Southeast Asia's $100 Billion Internet Economy. https://www.blog.google/documents/47/SEA_Internet_Economy_Report_2019.pdf. (Accessed June 28, 2021).
  16. International Monetary Fund. Policy responses to COVID-19. (Last updated on July 2, 2021). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19#I. (Accessed July 6, 2021).
  17. International Monetary Fund. 2020. World economic outlook update. (June 2020)
  18. Iswahyudi, H. 2016. Back to Oil: Indonesia Economic Growth After Asian Financial Crisis. Economic Journal of Emerging Markets, 8(1): 25-44. https://doi.org/10.20885/ejem.vol8.iss1.art3
  19. Karina M. Tehusijarana and Ghina Ghaliya. 2019. Jokowi highlights economic, bureaucratic reforms in inauguration speech, The Jakarta Post. (October 20, 2019). https://www.thejakartapost.com/news/2019/10/20/jokowi-highlights-economicbureaucratic-reforms-in-inauguration-speech.html (Accessed 14 February 2021).
  20. KOTRA. 2021. [Southeast Asia] Post Corona, Promising Fields of Southeast Asian Market. Overseas Market News.
  21. McKibbin, Warwick and Fernando, Roshen. 2020. The Global Macroeconomic Impacts of COVID-19: Seven Scenarios. CAMA Working Paper 19/2020 (February 2020).
  22. Saidi, L., Adam, P., Saenong, Z., & Balaka, M. Y. 2017. The Effect of Stock Prices and Exchange Rates on Economic Growth in Indonesia. International Journal of Economics and Financial Issues, 7(3): 527-533.
  23. Lee, Sang M. and Lee, DonHee. 2020. Lessons Learned from Battling COVID-19: The Korean Experience. International Journal of Environmental Research and Public Health. 17(20): 7548. https://doi.org/10.3390/ijerph17207548
  24. Tapscott, D. 2015.The Digital Economy: Rethinking Promise and Peril in the Age of Networked Intelligence. Anniversary Edition. After 20 Years, a New Look Forward. New York: McGraw Hill Education.
  25. Vience, Mutiara Rumata and Ashwin, Sasongko Sastrosubroto. 2020. The Paradox of Indonesian Digital Economy Development. https://www.intechopen.com/books/e-business-higher-education-and-intelligence-applications/the-paradox-of-indonesian-digital-economy-development (Accessed June 27, 2021).
  26. Vivek Lath, Tracy Lee, Khoon Tee Tan, and Phillia Wibowo. 2020. With effort, Indonesia can emerge from the COVID-19 crisis stronger. McKinsey & Company. (September 2020).
  27. We Are Social. Digital 2019: Indonesia. 2019. https://datareportal.com/reports/digital-2019-indonesia. (Accessed July 01, 2021).
  28. Yose, Rizal Damuri and Fajar, B. Hirawan. 2020. Mengukur Dampak OVID-19 pada Pertumbuhan Ekonomi dan Perdagangan Indonesia 2020. CSIS Commentaries DMRU-015. (26 March 2020).
  29. https://www.csis.org/programs/southeast-asia-program/southeast-asiacovid-19-tracker-0 (Accessed February 5, 2021).
  30. https://asia.nikkei.com/Politics/Indonesia-puts-33bn-capital-relocation-on-hold (Accessed July 13, 2021).
  31. https://publicadministration.un.org/en/Themes/ICT-for-DevelopmentWorld-Summit-on-Information-Society (Accessed June 28, 2021).
  32. https://www.worldometers.info/coronavirus/ (Accessed July 7, 2021).