Front Cover

pdf iconDownload PDF
 

Copyright Information

pdf iconDownload PDF

p. iv

Table of Contents

pdf iconDownload PDF

p. v

read more

Foreword

pdf iconDownload PDF

pp. vii-viii

The sustained development in large parts of Asia has been one of the most significant signs of economic and social progress in the past halfcentury. Japan made the leap to industrialization first, followed soon after by the newly industrialized economies of Hong Kong, China; the Republic of Korea; Singapore; and Taipei,China. Then came the rapid development of countries now joined together in the Association of Southeast Asian Nations (ASEAN). More recently, we have seen the economic rise ...

read more

Introduction and Overview

pdf iconDownload PDF

pp. 1-18

Less than a decade ago, most economists and economic historians, looking at the nineteenth and twentieth centuries as a whole, or looking at the last decades of the twentieth century, still remarked that the process of global economic growth had been accompanied by a process of “divergence” of per capita incomes between a small group of rich countries and a large number of lower-income economies. The words of renowned growth theorist Elhanan Helpman are representative of most thought on the subject until ...

read more

Emerging Asia and Rebalancing the World Economy

pdf iconDownload PDF

pp. 19-68

The thirty years from 1990 to 2020 will constitute the period of greatest structural shift that the world economy has ever experienced over a period as short as three decades. Broadly speaking, the ongoing shift is due to very rapid economic growth in Asia. The People’s Republic of China (henceforth, PRC) dominates the figures and is the clear leader in terms of the speed of growth, but after decades of slow growth, India, with a population almost as large ...

read more

Large Asian Economies and the United States: Is Rebalancing Feasible?

pdf iconDownload PDF

pp. 69-103

Factors such as lax financial sector regulation, regulatory capture by major financial players, and an intellectual climate that saw markets as fully self-correcting and market agents as perfectly rational on the basis of complete information, as well as global macroeconomic imbalances have been identified as the major drivers of the financial crisis and the subsequent global economic slowdown. These factors characterized ...

read more

G-20 Financial Reforms and Emerging Asia's Challenges

pdf iconDownload PDF

pp. 105-150

One important lesson of the global financial crisis that began in 2007 is that a systemic crisis that affects a country’s overall financial system is very costly, not only in terms of fiscal resources—mobilized to counteract the economic downturn and support the financial system—but also in terms of output and employment lost. Policymakers should therefore make every effort to avoid a systemic ...

read more

The International Monetary System through the Lens of Emerging Asia

pdf iconDownload PDF

pp. 151-189

As the world economy tries to leave behind the worst recession in almost a century, in 2010 emerging Asia has led the global recovery with stronger than anticipated growth, projected at 10.5 percent for the People’s Republic of China (hereafter PRC) and 9.7 percent for India.1 Building on the resilience of their aggregate demand, the soundness of their policy fundamentals, and their swift response to the crisis, emerging Asian nations have been able to weather the global crisis that sent other countries to the brink of economic depression. ...

Contributors

pdf iconDownload PDF

p. 191

Index

pdf iconDownload PDF

pp. 193-200

Back Cover

pdf iconDownload PDF