Dutch Income in and from Indonesia 1700–1938

Maddison, Angus

doi:10.1017/s0026749x00010155

Cited by 41 publications

(15 citation statements)

References 19 publications

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“…During De Jonge's reign, government expenditures had to be cut by one-fourth. The GNP per capita in the Indies decreased from 297 dollars in 1929 to 279 dollars in 1939 (Maddison 1989). In the late 1930s, only 8 percent of the Indonesian population was literate, as compared to 29 percent in British Malacca, 12 percent in British India and 10 percent in French Indochina.…”

Section: Nationalist Radicalization Conservative Response and Econommentioning

confidence: 99%

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Dutch Scholarship in the Age of Empire and Beyond

Kuitenbrouwer¹

2014

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Section: Nationalist Radicalization Conservative Response and Econommentioning

confidence: 99%

“…However, the GNP subsequently jumped to 297 dollars per capita in 1928. The Netherlands' GNP also increased substantially, from 1,274 dollars per capita in 1913 to 1,621 dollars in 1928 (Maddison 1989).…”

Section: Dutch Moralists and Indonesian Nationalismmentioning

confidence: 99%

Dutch Scholarship in the Age of Empire and Beyond

Kuitenbrouwer¹

2014

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“…The returns estimated to the UK from its empire range from normal (Davis and Huttenback, 1988) to high Edelstein (1981). Maddison (1989) judges that 15 to 20% of Indonesian net domestic product went to Europeans (primarily the Dutch colonial power) in the 19th century.…”

Section: Recent Debt Dynamics In a Longer-term Perspectivementioning

confidence: 99%

Dealing with debt

Reinhart

Rogoff

2015

Journal of International Economics

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a b s t r a c tThis paper explores the menu of options for renormalizing public debt levels relative to nominal activity in the long run, should governments eventually decide to do so. Although debt ratios may need to rise further in some cases, a vision of longer-term options is key to weighing alternative medium-term stabilization strategies. Orthodox ones, the standard fare of officialdom, include enhancing growth, running primary budget surpluses, and privatizing government assets. Heterodox polices include restructuring debt contracts, generating unexpected inflation, taxing wealth, and repressing private finance. Advanced countries have relied far more on heterodox approaches than many observers choose to remember.

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“…The historical debate on the late colonial era, with which we engage in this study, has been deeply affected by the idea that after the gradual abolition of the cultivation systems after the 1860s, the Dutch kept reaping exceptional returns on colonial investments, although most of it now hinged on private capital investments instead of state-directed programs of forced cultivation (Gerretson 1938;Vandenbosch 1938;Boeke 1940a, b;Derksen andTinbergen 1980 [1945]; Haccoû 1961;Maddison 1989;Gordon 2010). This view has been scrutinized by a revisionist literature that has criticized the data and estimates that have been used to assess various aspects of colonial FDI in the late colonial era (Baudet and Wijers 1976), as well as attempts to place the discussion on the 'colonial drain' in the wider context of mutual economic interdependence (van der Eng 1998a, b).…”

Section: Introductionmentioning

confidence: 99%

Colonial adventures in tropical agriculture: new estimates of returns to investment in the Netherlands Indies, 1919–1938

Buelens

Frankema

2015

Cliometrica

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How profitable were foreign investments in plantation agriculture in the Netherlands Indies during the late colonial era? We use a new dataset of monthly quoted stock prices and dividends of international companies at the Brussels stock exchange to estimate the returns to investment in tropical agriculture (1919)(1920)(1921)(1922)(1923)(1924)(1925)(1926)(1927)(1928)(1929)(1930)(1931)(1932)(1933)(1934)(1935)(1936)(1937)(1938). We adopt the Dimson-March-Staunton method to compute real geometric annual average rates of return and assess our estimates in an international comparative perspective. We find that returns to colonial FDI in the Netherlands Indies during 1919-1928 were impressive (14.3 %), being almost 3 percentage points higher than the world average. In the following decade 1929-1938 fortunes reversed, with a rate of return of -2.8 % compared to a world average of 2.2 %. Over the entire period the returns to colonial FDI (5.4 % in 1919FDI (5.4 % in -1938 were about a factor 2.5 higher than returns to investment in the Dutch domestic economy (2.1 % in 1920-1939). We argue that these returns should be interpreted in a colonial context of systematic labour repression, but that they may also partly reflect a higher risk-premium of investments in colonial commodities.

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Dutch Income in and from Indonesia 1700–1938

Cited by 41 publications

References 19 publications

Dutch Scholarship in the Age of Empire and Beyond

Dutch Scholarship in the Age of Empire and Beyond

Dealing with debt

Colonial adventures in tropical agriculture: new estimates of returns to investment in the Netherlands Indies, 1919–1938

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