Stockholm School of Economics Asia Working Paper Series
Political Change and the Business Elite in Indonesia
Abstract: As Suharto’s authoritarian regime came to an end in 1998,
the country’s business elite faced new challenges. While rent seeking had
previously primarily taken place through direct relationships with and
concessions from Suharto, the business elite in contemporary Indonesia
operates in a setting with a higher degree of fluidity and uncertainty.
This study sheds light on how the changes to the political landscape in
Indonesia have affected the business elite. This is done by tracing the
relationship between business and politics throughout history from the
colonial period up to contemporary Indonesia. It also discusses how these
changes have made the analysis of political connections and the value of
political capital more complicated and highlights some of the factors
believed to be important when analyzing the economics behind
business-political relationships in Indonesia.
Keywords: Indonesia; political change; rent seeking; political connections; patronage; patrimonialism; elite; oligarchy; (follow links to similar papers)
JEL-Codes: D72; G30; G38; (follow links to similar papers)
46 pages, December 17, 2014
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