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Extractive investibility in historical colonial perspective: the emerging market and its antecedents in Indonesia

Tilley, Lisa

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Abstract

The term ‘emerging market’ is widely used in popular and scholarly fields to simply indicate an empirical condition of economic improvement. For Indonesia, this affirmative investor label covers economic activities including cheap commodity extraction via the plantation and the mine for the world market, despite the expropriation and ecological ruin such extraction generates. This article connects this emerging market present with the colonial past by tracing how extractive spaces and relations have been produced over time with the help of investment capital. Developing the concept of ‘extractive investibility’ in historical colonial perspective, the analysis begins by tracing Dutch East India Company (VOC) era interventions and the establishment of the Cultivation System and plantation economies on Java and Sumatra by the Dutch colonial state. The article then documents how the brief ‘Third Worldism’ interlude meaningfully challenged these colonial extractive relations. The analysis ends by detailing how the emerging market label was explicitly conceived to replace the term ‘Third World’ and continues to function as a discursive idealisation which directs capital back toward extractive spaces.

Citation

Tilley, L. (2021). Extractive investibility in historical colonial perspective: the emerging market and its antecedents in Indonesia. Review of International Political Economy, 28(5), 1099-1118. https://doi.org/10.1080/09692290.2020.1763423

Journal Article Type Article
Acceptance Date Apr 10, 2020
Online Publication Date May 13, 2020
Publication Date Sep 1, 2021
Deposit Date Mar 8, 2022
Publicly Available Date Mar 8, 2022
Journal Review of International Political Economy
Print ISSN 0969-2290
Electronic ISSN 1466-4526
Publisher Taylor and Francis Group
Peer Reviewed Peer Reviewed
Volume 28
Issue 5
Pages 1099-1118
DOI https://doi.org/10.1080/09692290.2020.1763423
Publisher URL https://www.tandfonline.com/doi/abs/10.1080/09692290.2020.1763423

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Copyright Statement
This is an Accepted Manuscript of an article published by Taylor & Francis in Review of International Political Economy, 28 (5) 2021, pp. 1099-1118. Re-use is subject to the publisher’s terms and conditions.





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