The year 2000 was not a good one for the capital market. As each month passed, there was practically no salutary news that would invite investors to Indonesia. Instead, we had news of a different kind—separatist threats from Irian Jaya and Aceh. Although share prices at the Jakarta Stock Exchange (JSE) are going down, few investors are interested. The price index remains in the 400s.

Some economists maintain that the damage has reached