中小企业在印尼危机后的出口表现外文翻译.docVIP

外文翻译 原文 SME Export Performance in Indonesia After the Crisis Material Source: Small Business Economics (2006) 26: 25–37 Author: Edgard Rodriguez 1. Introduction The ?nancial crisis hit several Asian countries in the late 1990s. Among the hardest hit economies, Indonesia experienced a decline of its GDP by 13% in 1998 and a large devaluation of its local currency that soared from 2,500 rupiah to the dollar to above 10,000 in the years after the crisis.Economic observers expected this sudden devaluation to bring a large surge in exports so that the economy would quickly bounce back from the crisis. However, the export sector dominated by large corporations – has yet to lead the country out of the crisis. In fact, 5 years after the crisis, Indonesia’s industrial structure has yet to show signs of a vibrant economic recovery. In 1999, Indonesia’s GDP grew modestly less than 1%. In 2000,growth climbed to 4.8, and slowed down to 3.3% in 2001, and again in 2002. Under di?erent scenarios, all forecasts reveal a very low probability of growth rates above 6% for the following years.High growth rates are considered important to reduce poverty signi?cantly in Indonesia, where almost one ?fth are classi?ed as poor. Large enterprises (LEs) and small and medium enterprises (SMEs) responded di?erently to the Asian crisis. Whereas the former contracted and reduced their exports, the latter grew and expanded their exports. SMEs weathered the crisis better than larger ?rms, though many have been hit hard too (Berry et al., 2002; The Asia Foundation, 2002). One of the reasons why large exporters underperformed was that they were simply too dependent on a large proportion of imported inputs.Hence, when the rupiah sank, they also saw their input prices in dollars increase dramatically, making a swift recovery di?cult. Moreover, decades of easy access to ?nance and imprudent banking practices towards corporate Indonesia had left a large burden of non-perfor