Suharto New Order oil-boom + Pertamina crisis + Pancasila economy (Indonesia)

Doctrine — stated goals and content

New Order middle-phase Suharto doctrine blending Berkeley-Mafia macroeconomic orthodoxy with rising resource-nationalist overlay under 'Pancasila economy' rhetoric. Economic school: developmentalist Berkeley- Mafia technocracy managing the 1974-1981 oil-boom rents and partial import-substitution drift. Dated actions: Pertamina debt crisis Feb 1975 — USD10.5bn debt bailout finalised 1976; 15 Nov 1978 'KENAIKAN' rupiah devaluation -33.6% (Rp415 to Rp625/USD) prompting consumption- protection price controls; 30 Mar 1983 devaluation -27.6% (Rp625 to Rp970/USD) post-oil-price decline; PAKTO 27 Oct 1988 deregulation pipeline groundwork laid 1983 banking reform (BI rediscount rates liberalised, state-bank lending ceilings lifted 1 Jun 1983); tax reform Dec 1983 (VAT 10% from 1 Apr 1985, new Income Tax Law, Property Tax Law) — first modern tax code, doubled tax/GDP ratio within 5 years; Repelita III (1979-1984) and IV (1984-1989) five-year plans; rice self-sufficiency achieved 1984 via BULOG + Bimas programmes; Garuda-Harapan-Kita flag-project, Krakatau Steel, IPTN aircraft under Habibie high-tech push. Left-right: centre-right authoritarian with technocratic macro core. Popularity: 1977 election Golkar 62.1%; 1982 Golkar 64.3%; 1987 Golkar 73.1% (controlled elections, no meaningful opposition). Coherence: high — macro discipline, tax reform, export diversification from oil dependency via Paket Juni 1983 banking dereg, all mutually reinforcing despite resource-nationalist rhetoric.