ABSTRACT
By mid-1997, therefore, the process of economic liberalisation in Indonesia appeared to be running out of steam. In the banking and capital markets, the technocrats had been able to introduce a range of deregulatory measures but were being prevented from introducing accompanying regulatory reforms. In the trade and investment sectors, they were having even less success, finding themselves unable to complete even the deregulatory phase of reform. In the intellectual property sector, reform was virtually complete - although there was still a problem with enforcement in some areas - and, so, little was left to be done. In effect, the political limits of reform had been reached. All the easy reforms had been completed. Anything further would constitute a serious threat to the position of the dominant forces in Indonesian society, the politico- bureaucrats and the conglomerates.
