This book is based on papers presented and discussions held at a high-level regional workshop organized by the Asian Development Bank in January 2010 to discuss the impact of the global economic and financial crisis on developing Asia. It provides a clear and thought-provoking analysis of the global economic crisis from the perspective of 19 Asia countries. The papers present concrete ways in which Asian economies and financial systems can be made more responsive and resilient, including frameworks for macroeconomic, fiscal and monetary policies. The book proposes that Asian economies can capitalize on the global economic crisis by using it as an opportunity to move from crisis management to gradually assuming global economic leadership. It spells out a general framework for strengthening recovery efforts, ensuring inclusive growth and open regionalism, rebalancing Asia’s growth model, and creating greater regional cooperation for a prosperous and resilient Asia. This is perhaps the first ever book in the market to undertake an in-depth discussion about the impact and the long-term implications of the global financial crisis on economies in Asia.
The book was released at the Asian Development Bank’s 43rd Annual Meetings in Tashkent, Uzbekistan, in May 2010, and has been extensively covered in the press (link to “In the News”).