Resource Nationalism in Indonesia: Booms, Big Business, and the State.

The article discusses the phenomenon of resource nationalism in Indonesia, where high commodity prices often lead to increased state intervention and control over the economy. Historically, Indonesia has followed this trend, scaling back nationalist ambitions during periods of low commodity prices to attract foreign investment. However, in recent years, Indonesia has continued to pursue economic nationalism in its natural resources sector, even as commodity prices have fallen. The article highlights a new book that explores this topic, examining the different forms and outcomes of economic nationalism in sectors such as coal, palm oil, and petroleum. The book argues that business power plays a significant role in driving or containing nationalist proposals, but the state also has an active role in pursuing the national interest. The article concludes by discussing the reasons for the persistence of resource nationalism in Indonesia, including the diversification of the economy and the growth of domestic businesses. Overall, the book provides valuable insights into the complex political economy of Indonesia and sets the stage for future research. [Extracted from the article]