Professional Documents
Culture Documents
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 1
Books/References:
- Oliver Blanchard, (2003),Macroeconomics, Third edition,
Lecture notes:
Lectures/Classes:
Print the notes Page and take it with you to the class.
Exercises: Each lecture or week, must be prepared in
advance
Final mark:
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 2
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 3
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 4
PASAR OUTPUT.
MASYARAKAT
MAX. UTILITY
PRODUSEN
MAX. PROFIT
PASAR INPUT
FONDAS I MIKRO
KEYNES
NEW KEYNESIAN
NEW CLASSICAL
ECONOMICS (RE)
MAKRO EKONOMI
AD = AS
IS = LM
SL
W/PC
EFEKTIF DEMAND
Y = C + I + G + (X - M )
DL = MPL
LK
LC
L
DL = f (); : KEBIJAKAN FISKAL VS MONETER
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 5
STRUKTUR
PDB
APBN
BOP
SEKTORAL:
PERTUMBUHAN
Y= A K/L
KEBIJAKAN MONETER
PERTUMBUHAN vs PEMERTAAN
INFLASI vs K. KERJA
TINGKAT BUNGA & UPAH
KURS
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 6
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 7
4 TIPE POLICY:
1) SHORT TERM STABILIZATION
2) STRUCTURAL ADJUSTMENT
3) EXPANDING PRODUCTION CAPACITY
(SAVING & INVETMENT MELALUI:
REF. KEUANGAN & PERPAJAKAN
REF. INVESTASI
PRIVITISASI)
4) Legalisasi & Lingkunagn Institusi
(pro. Right & aturan Kompetisi)
Bagaimana di Indonesia?
Kurs 1971, 78, 83, 86 & 88
88 finacial reform & interest group
Kebijaksanaan Teknologi?
2003 Prentice Hall Business Publishing
Olivier Blanchard
MYZ/RY 8
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 9
Microeconomics
results: partial &
GE:
-Consumers efficiency
MRSij= relatif price ij
-Porduction efficiency
MRTSij= relative factor
price ij
Source of Market failure & government intervention -Exchange efficiency
(market efficiency)
Field development:
-Public Economics (Choice)
-New Political Economy
-Regional economics
-HRE: Labor Ec.; Health Ec
-others subjects
Macroeconomics, 3/e
-Development Economics
-International economics
-monetary economics
-others subjects
Four Functional
Management?
Olivier Blanchard
MYZ/RY 10
science
Facts:
empirical
questions
A or B; or both
Olivier Blanchard
MYZ/RY 11
Mainstream economics:
-more deductive
-abstraction: more use mathematical
exposition especially in theoretical work
-developed on both applied and
theoretical work to explain the stylized
fact
How about the type of Economist?
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 12
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 13
C H AP TE R
Prepared by:
M. Yunus Zain & Rahmatia Yunus
(FE-UNHAS)
1-1
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 15
Table 1-1
1992-2000
(average)
2000
2001
2002
(forecast)
3.5
3.7
4.1
1.1
0.7
Unemployment rate
6.1
5.4
4.0
4.8
6.2
Inflation rate
5.1
1.7
2.3
2.1
1.2
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 16
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 17
Rate of Growth of
Output per Worker in
the United States
Since 1950
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 18
1-2
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 19
The European
Union, 2000
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 20
Table 1-2
1992-2000
(average)
2002
2000
2001
3.1
2.1
3.3
1.7
1.5
Unemployment rate
6.5
9.9
8.1
7.8
8.1
Inflation rate
5.6
1.7
1.5
2.5
2.2
Output growth rate: annual rate of growth of output. Unemployment rate: average
over the year. Inflation rate: annual rate of change of the price level.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 21
Source: Eurostat
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 22
Source: Eurostat
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 23
Source: Eurostat
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 24
High unemployment
A common currency
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 25
Unemployment
Rates: Europe
Versus the United
States, 1960-2000
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 26
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 27
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 28
1-3
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 29
Table 1-3
1992-2000
(average)
5.5
Unemployment rate
Inflation rate
2002
2000
2001
1.2
1.5
0.7
0.3
2.0
3.0
4.7
5.0
5.4
4.5
0.1
1.6
1.6
0.9
Output growth rate: annual rate of growth of output. Unemployment rate: average
over the year. Inflation rate: annual rate of change of the price level.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 30
What Happened to
Japan in the 1990s?
The Japanese Stock
Market Index, 19802000
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 31
Short-term policies
Decrease interest rates
Fiscal policy in order to stimulate demand
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 32
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 33
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 34
Bagian I
AN OVERVIEW OF INDONESIAN ECONOMIC
PERFORMANCE AND PROBLEMS: A VERY
SHORT-RUN VIEW
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 35
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 36
percent
17.89
18.38
10.60
8.81
9.06
7.20
5.79
2002
4.60
2003
2004
2005
Source: BPS.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 37
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 38
Macroeconomics, 3/e
Inflasi di negara-negara
tetangga jauh lebih rendah
dari kita.
Namun, biasanya paling
tidak inflasi di Indonesia
lebih rendah ketimbang di Sri
Lanka dan Pakistan.
Kini, kita yang paling buruk.
Kita sudah merasa terbiasa
hidup dengan temperatur
tubuh yang tinggi.
Olivier Blanchard
MYZ/RY 39
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 40
BI Rate
SBI-1month
Sejak diperkenalkan
untuk pertama kalinya, BI
Rate selalu mendahului
pergerakan suku bunga
SBI-1 bulan secara
searah. Jadi BI Rate bisa
dipandang sebagai
pembentuk ekspektasi
yang efektif.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 41
percent
2002
2003
2004
2005
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 42
Macroeconomics, 3/e
Olivier Blanchard
Source: The43
World Bank.
MYZ/RY
9,840
Kuningan Bombing
New Government
Source: Bank Indonesia
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 44
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 45
10,042
8,230
2002
2003
2004
2005
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 46
Nilai tukar Rp
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 47
Total
Nonmigas
2002
2003
Macroeconomics, 3/e
2004
Olivier Blanchard
2005
MYZ/RY 48
*Projection.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 49
*Projection.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 50
2002
2003
2004
2005*
Current Account
7,822
8,106
3,108
-400
Exports, f.o.b.
59,165
64,109
72,167
87,000
Imports, f.o.b.
-35,652
-39,546
-50,615
-68,400
Services, net
-9,902
-11,728
-10,879
-11,300
Investment income
-7,048
-6,217
-8,704
-9,000
1,259
1,489
1,182
1,300
-1,102
-949
2,997
3200
145
-597
1,023
1,500
1,222
2,251
3,222
2,500
-2,469
-2,604
-1,248
-800
-1,691
-3,503
-5,795
-3,500
Monetary Movements**
-5,029
-3,654
-310
700
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 51
SBY era
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 52
SBY-JK period
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 53
Trend SBI
Trend IHSG
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 54
FED rate
DJIA
NASD
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 55
Structure
of GDP
JCI-weighted
industry
Difference
Agriculture
15.0
1.3
+13.7
10.5
7.8
+2.7
Manufacturing
27.6
32.9
-5.3
Construction
5.8
2.4
+3.4
Financial
8.2
28.3
-20.1
6.3
0.9
21.2
-14.0
6.0
+19.7
15.8
9.9
100.0
Macroeconomics, 3/e
100.0
Olivier Blanchard
0.0
MYZ/RY 56
Posisi
NAB
Transaksi
Bersih
Sumber: Bapepam
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 57
5.0
6.6
6.2
5.5
5.3
5.1
Source: BPS.
Olivier Blanchard
MYZ/RY 59
2003
2004
Q1~2-05
Q3-05
Q1~3-05
3.8
3.5
3.5
4.4
3.8
Agriculture
4.3
4.1
0.3
1.6
1.7
-0.9
-4.6
-0.9
-2.3
-0.8
Manufacturing
5.3
6.2
6.8
5.6
5.8
Non-Tradable
6.2
7.1
8.6
8.3
8.5
Construction
6.7
8.2
7.4
6.3
7.2
Financial
7.0
7.7
8.2
9.1
8.4
11.6
12.7
13.5
12.9
13.3
5.9
5.9
7.7
9.8
8.8
5.3
5.8
9.7
7.9
9.2
Services
3.9
4.9
4.6
5.4
4.9
5.8
6.2
7.0
6.3
6.8
-2.9
-4.4
-5.6
-4.4
Tradable
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 60
-5.2
Source: BPS.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 61
2004
Q1~3-05
Q3-05
4.94
3.75
4.43
Konsumsi pemerintah
1.95
0.62
16.15
15.71
12.38
9.18
8.47
9.50
3.39
2.95
14.06
9.29
PDB
5.13
5.76
5.34
Source:
BPS. Hall Business Publishing
2003
Prentice
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 62
Investment growth, %
Property share in
total investment, %
Source: BPS.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 63
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 64
X 1000 unit
Source: Gaikindo.
* Projection
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 65
Source: BPS.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 66
suku bunga
nilai tukar rupiah
inflasi
cadangan devisa
neraca perdagangan
current account
pesimisme konsumen dan produsen
mengalami pemburukan
yang relatif drastis.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 67
Diesel
Electricity
13%
Industry
19%
Transportation
47%
Kerosene
21%
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 68
2004
August
Labor force
Employed
Description
Open unemployment
Open unemployment (%)
February
2005
October*
October**
10.4
10.6
10.7
10.7
9.4
9.5
9.6
9.5
10.2
10.8
11.2
11.6
9.9
10.3
10.4
10.8
Sumber: BPS.
Kenaikan harga BBM serta merta menambah penganggur sebanyak 400 ribu orang atau
mengerek naik tingkat pengangguran terbuka sebesar 0,4 persen.
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 69
Indicators
1996
1997
2002
2003
2004
15.7
27.1
16
15.1
15.2
1 dollar a day
7.8
12.0
7.2
5.7
4.8
2 dollars a day
50.5
65.1
53.5
48.8
45.4
Unemployment 2/
4.9
6.4
9.1
9.5
9.9
Penduduk miskin absolut turun, namun yang nyaris miskin masih sangat banyak dan
sangat rentan terhadap gejolak harga.
Kenaikan harga BBM mulai 1 Oktober 2005 yang keterlaluan mengakibatkan jumlah
orang miskin naik 10 juta jiwa.
Penciptaan lapangan kerja, peningkatan produktivitas sektor pertanian, dan
pembangunan infrastruktur, terutama di pedesaan, menjadi kunci peningkatan
kesejahteraan rakyat.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 70
*Estimates.
Source: BPS, 21 November 2005.
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e Olivier Blanchard
MYZ/RY 71
Year
Deposits
(Rp trillion)
Credits
(Rp trillion)
LDR
(percent)
1997
358
378
106
1998
573
487
85
1999
626
225
36
2000
720
269
37
2001
809
308
38
2002
836
410
49 (38)
2003
902
477
53 (43)
2004
963
595
62 (50)
2005*
1,011
664
66 (53)
* Jun.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 72
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 73
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 74
Jenis Risiko
Tambahan
Defisit
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 75
1)
2)
3)
4)
5)
*/
Due to the increase in domestic fuel prices in October this impact would certainly be reduced and probably reversed, i.e. the impact of
a 1 dollar increase would be positive on the budget.
Source: World Bank, October 2005.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 76
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 77
Forecast
High-income countries
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 78
2003 2004e
Real GDP growth (%)
High income
2005f
2006f
2007f
2.5
3.8
3.2
3.2
3.3
1.8
3.1
2.5
2.5
2.7
5.5
6.8
5.9
5.7
5.5
1.2
1.7
3.8
5.0
5.2
Euro, 6-month
2.3
2.1
2.2
2.1
2.8
G-7 countries
1.5
1.7
2.2
2.0
1.7
2.3
2.7
3.4
3.0
2.4
5.9
10.2
6.2
7.0
7.3
28.9
37.7
53.6
56.0
51.5
Developing countries
$, 6-month
United States
e = estimate f = forecast
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 79
2003
2004
2005
2006
6.0
7.2
6.2
6.2
Indonesia
4.9
5.1
5.7
6.0
Malaysia
5.4
7.1
5.0
5.3
Philippines
4.5
6.0
4.8
5.0
Thailand
6.9
6.1
4.2
5.0
Korea
3.1
4.6
3.8
4.6
China
9.5
9.5
9.3
8.7
Vietnam
7.3
7.7
7.5
7.5
East Asia
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 80
Global imbalances:
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 81
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 82
Permintaan dunia
untuk minyak
mentah masih tetap
kuat pada tahun
2006, terutama dari
China dan negaranegara
berkembang
lainnya.
Source: World Bank based on IEA Oil Market Report. Sept. 2005 and earlier issues.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 83
Note: Deflated by the chain-type price index for PCE. Sources: BEA and Haver Analytics.
Olivier Blanchard
MYZ/RY 84
setiap pemain.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 85
Broad Base:
Market Mechanism
- Agriculture sector
- Rural area: infrastructures
Employment creation
High MPC and multiplier effect
Low import content and low technology
Produced by SMEs
Fiscal Policies:
VA tax & Luxury tax
Budget allocation
Affirmative actions
Asset redistribution
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 86
Political
environment
Physical infrastructure
Social
structure
Legal and
institutions
Fiscal
infrastructure
Technology
Education
Labor
market
Capital
market
Product
market
Cost
Production cost
Supply
Productivity
Dynamics
Monetary and
fiscal stability
Macroeconomics, 3/e
Market
structure
C
O
M
P
E
T
I
T
I
V
E
N
E
S
S
Olivier Blanchard
Job
&
Prosperity
MYZ/RY 87
Old Model
New Model
Economic development is a
Government drives
collaborative process
economic development
through policy decisions and
incentives.
involving government at
multiple levels, companies,
teaching and research
institutions, and institutions
for collaboration.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 88
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 89
Governance
Investment
Climate
Service
Delivery
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 90
Realisasi:
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 91
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 92
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 93
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 94
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 95
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 96
Dec-12
IDR/US$
Exchange
Rate
One-Month
SBI Rate
(%)
9,735
12.75
1Month
10,100
13.50
3Month
6Month
12Month
9,800
9,600
9,450
13.25
Macroeconomics, 3/e
12.00
10.20
Olivier Blanchard
MYZ/RY 97
2005
Assumptions
APBN
APBN-P
2006
Latest
Prognosis
RAPBN
APBN
5.4
6.0
5.9
6.0
6.2
6.2
5.5
7.5
7.8
8.6
7.0
8.0
8,600
9,300
9,895
9,800
9,400
9,900
6.50
8.00
8.54
8.40
8.00
9.50
24
45
67
54
40
57
1.125
1.125
1.125
1.075
1.075
1.050
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 98
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 99
Description
Economic growth (GDP, %)
GDP per capita (current US$)
Inflation rate (%)
Oil production (million barrel/day)+
Oil price (US$/barrel)
Exchange rate (Rupiah/US$)++
Population growth (%)+++
2004*
2005**
2006***
5.1
5.5
5.8
1,191
1,219
1,395
6.1
16.8
8.5
1.125
1.075
1.05
28
50.6
56
8,936
9,750
9,685
1.4
1.4
1.4
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 100
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 103
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 104
Country
Grade
Ranking
Thailand
Malaysia
Sri Lanka
Philippines
China
Bangladesh
Cambodia
India
Viet Nam
Indonesia
10
Pakistan
11
Solomon Islands
12
13
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 105
Reading Literacy
Rate
Mathematical
Literacy Rate
Scientific Literacy
Rate
Indonesia
371
367
393
Argentina
418
388
396
Hong Kong
525
560
541
Korea
525
547
552
Mexico
422
387
422
Thailand
431
432
436
Country
Source: Unesco.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 106
Indonesia
China
Philippines
Thailand
Malaysia
Viet Nam
Births attended by
skilled health
personnel (%, 2002)
64
76
58
99
97
70
16
164
115
30
68
54
Health expenditure
(public, as % of GDP,
2001)
0.6
2.0
1.5
2.1
2.1
1.5
26
11
28
19
12
33
Indicators
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 107
Malaria cases
(per 100,000 people),
2000
TBC cases
(per 100,000 people),
2002
TBC-related mortality
rate (per 100,000
people), 2001
476
734
95
56
272
21
69
Indonesia
920
609
68
69
Lao
759
359
27
67
Malaysia
57
120
18
..
Myanmar
224
176
34
84
Philippines
15
540
56
93
Thailand
130
179
18
96
Bangladesh
40
447
56
71
India
344
42
61
Pakistan
58
379
45
95
Countries
Cambodia
China
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 108
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 109
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 110
Indicators
Developing
Countries
Indonesia
49.1
22.8
117.1
37.3
62.3
55.2
257.2
159.0
99.8
37.0
190.0
153.0
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 111
Country
DAI
ITR
Singapore
0.75
Malaysia
0.57
32
Thailand
0.48
41
Indonesia
0.34
63
Source: ITU
Telecom infrastructures,
which is the foundation
of the information
communication industry,
are insufficient to
support economic
development and sociocultural development
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 112
HDI
rank
Countries
Population
Telephone mainlines
(per 1,000 people)
Cellular subscribers
(per 1,000 people)
Georgia
5.2
2,260
174
61
175
Azerbaijan
8.1
3,210
120
97
200
Ecuador
12.6
3,580
104
67
170
Sri Lanka
18.7
3,570
44
36
80
Armenia
3.1
3,120
140
146
Uzbekistan
25.0
1,670
67
72
Viet Nam
79.5
2,300
38
23
53
Syria
16.6
3,280
103
12
121
Indonesia
209.0
3,230
37
55
66
10
Bolivia
8.6
2,460
63
94
158
11
Honduras
6.6
2,600
47
36
84
12
Egypt
65.1
3,810
104
43
147
13
India
1,032.5
2,670
38
44
14
Ghana
19.9
2,130
12
21
15
Zimbabwe
12.8
2,400
22
29
51
Sources: The World Bank; and UNDP, Human Development Report 2004.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 113
Country
1998
2000
2002
China
8.9
15.9
27.6
Indonesia
8.3
10.2
11.9
Malaysia
62.5
94.5
146.8
Philippines
15.1
19.3
27.7
Thailand
21.9
28.3
39.8
Vietnam
5.2
7.5
9.8
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 114
Country
China
46.0
584
Indonesia
37.7
130
319.7
160
Philippines
44.0
156
Thailand
77.6
74
Viet Nam
18.5
274
Malaysia
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 115
Penduduk
Negara
(Juta Jiwa)
Total
Arteri
Tol
(Km/Juta)
Japan
125
1,166,340
11,520
9,422
Korea
46
88,775
2,600
1,986
Malaysia
22
64,949
1,230
3,008
1,300
1,700,000
100,000
1,384
210
26,000
520
126
China
Indonesia
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 117
Jepang
China
92
77
Km
Km
Korea
Malaysia
56
55
Km
Km
Indonesia
2,5
Km
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 118
118
Countries
1998
2000
China
722
827
Indonesia
325
384
2,554
2,628
466
477
Thailand
1,345
1,448
Vietnam
232
286
Malaysia
Philippines
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 119
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 120
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 121
199
8
199
9
200
0
200
1
200
2
Overall Rank
40
47
44
49
47
Economic Performance
41
30
36
41
42
Government Efficiency
35
46
41
45
45
Business Efficiency
41
46
45
48
49
Infrastructure
44
47
47
49
49
* Covering 49 countries.
Source: International Institute for Management Development, World Competitiveness Yearbook, various years.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 123
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 124
Singapore
Malaysia
Korea
Indonesia
Chile
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 125
PERCENT
Source: BPS.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 127
Source: BPS.
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 128
Source: BPS.
2003 Prentice Hall Business Publishing
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 129
Manufacturing employment
is falling
(percent growth rate of manufacturing emloyment)
4.0
3.0
2.0
1.0
0.0
-1.0
-2.0
-3.0
-4.0
1999
2000
2001
2002
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 130
5.0
6.0
7.0
Unemployment (million)
5.5
6.6
7.7
14.0
2.8
12.9
2.6
11.8
2.4
Absorption (million)
2004-2009
Yearly average
Employment creation
per 1% GDP growth
200,000
14.0
13.2
12.8
300,000
9.3
8.7
8.0
400,000
7.0
6.5
6.0
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 131
Aug. 2004
Feb. 2005
Change
104.0
105.8
1.8
Employment (million)
93.7
94.9
1.2
10.3
9.9
10.9
10.3
0.6
0.4
Underemployment: million
%
27.9
29.8
29.6
31.2
1.7
1.4
59.2
63.2
60.6
63.9
1.4
0.7
Source: BPS.
Macroeconomics, 3/e
Olivier Blanchard
MYZ/RY 132