Reordering the extractive political settlement: Resource nationalism, domestic ownership and transnational bargains in Indonesia

Abstract

Since the early 1990s, heavy state intervention in the extractives sector—or resource nationalism—has become more common in resource-rich lower income countries. This article considers what domestic and global conditions in the political economy of extractives account for the resurgence of resource nationalism in Indonesia despite the risks to foreign investment, including who benefits and how. We examine Indonesia's regulatory reforms and analyse the intersections between global and domestic dynamics that have resulted in Indonesia taking a majority ownership share of Freeport Indonesia. We contend that within long-durée Cycles of Resource Nationalism, the geospatial concentration of minera..