Inclusive, Balanced, Sustained Growth in the Asia-Pacific

Index

Index 127 Index A ABF (Asian Bond Market Fund), 86 ACIA (ASEAN Comprehensive Investment Area), 95 ADB (Asian Development Bank), 6, 87 Advanced Asia, 9, 13, 17, 27, 73–74 crisis, affected by, 63–66 currencies, 75 definition of, 77 monetary policy measures, 67–72 AEC (ASEAN Economic Community), 86, 88, 94 AFSD (Asian Financial Security Dialogue), 87 AIG (American International Group), 103 American Recovery and Reinvestment Act, 14, 102 AMT (alternative minimum tax), 99 APEC (Asia-Pacific Economic Cooperation), 3, 87, 90, 95, 105 ASEAN (Association of Southeast Asian Nations), 3, 13, 37, 80, 82, 93–94 ease of doing business in, 92 economic integration, 85–87 exports, 87–89 GDP growth, 79 imports, 87–89 monetary policies, 84 stimulus packages of, 80 trade shares, 95 ASEAN+1, 86 ASEAN+3, 3, 73, 84, 86 ASEAN+3 FMM (Finance Ministers Meeting), 86–87 ASEAN-6, 94 ASEAN Comprehensive Investment Area, see ACIA ASEAN Economic Community, see AEC ASEAN Summit, 84 Asia economic fundamentals, 5 export market for Japan, 67 GDP, 4 markets, 39, 42 Asian Bond Market Fund, see ABF Asian Development Bank, see ADB Asian financial crisis, 7, 9, 53, 57, 78, 82 Asian Financial Security Dialogue, see AFSD Asian Forestry Cooperation Organization, 41 Asian NIEs, 66 Asian noodle bowl, 73 Asia Pacific GDP, 8, 29 IBS growth in, 2, 46 policy initiatives, 39–40 stimulus package, 14 Asia-Pacific Economic Cooperation, see APEC 128 Index asset prices, 19–20, 54 Australia current account deficit, 67 growth, 71 investment in, 64 monetary easing, 68 automatic feedback mechanisms, 22 B balanced budget amendment, 33 Bank of England, 14 Bank of Japan, 14, 68 Bank of Korea, 68 Bear Sterns, 103 Bernanke, Governor, 103 bilateral swaps, 44 bond market, 94 bottom up strategy, 3 brain drain, 38 Brunei Doing Business ranking, 90, 92 Buy America, 104 C Cambodia contraction in, 80 Doing Business ranking, 92 Canada fiscal deficit, 97 knowledge-based economy, 97 capital control, 80, 94–95 capital flows, 4, 16, 43, 67, 83, 87, 100, 113 reversal of, 110 CBO (Congressional Budget Office), 99 central bank, 14, 44, 47, 60, 67–68, 86– 87, 101, 112–15, 120–21 CEPEA (Comprehensive Economic Partnership in East Asia), 73, 76 Chiang Mai Initiative, see CMI Chile GDP, 112, 114–15 R&D expenditure, 123 remittances, 111 response to crisis, 116–19 stock market decline, 110 China bank credit, 55, 60 consumption, 29, 31, 106 crisis, affected by, 49–51 domestic demand, 57 export market, 52–53 GDP, 13, 17, 26, 31, 34, 49–54, 56– 59, 61 growth rate, 11, 56–58, 121 investment share in, 53–54 national income, 4 rebalancing economy of, 34–35 state investment, 56 stimulus package, 14, 17, 51, 54–56, 58 structural imbalances, 53–54, 60 tariffs on, 44 “China Puzzle”, 34 Chinese Taipei policy rate, 68 tax incentives, 70 Cline, William, 26, 99 CMI (Chiang Mai Initiative), 87 CMIM (Chiang Mai Initiative Multilateralized), 43–44 Colombia GDP, 112, 114–15 R&D expenditure, 123 remittances, 111 response to crisis, 116–19 stock market decline, 110 commodity markets, 51 commodity prices, decline in, 111 Comprehensive Economic Partnership in East Asia, see CEPEA Index 129 Congressional Budget Office, see CBO consumption smoothing, 83 Copenhagen conference, 41 crisis, and recovery, 6–20 crisis recovery plans, 120 cross-border migration, 38 currency instability, 19 currency speculation, 16 D Debt Crisis of 1982, 114 debt-to-GDP ratio, 71 decoupled economies, 9 deflation, 52–53, 60, 100 demand-side measures, 20 demographic dividend, 38 de-stocking, 49, 51 Doha Development Agenda, 94 Doha Round, 45, 76, 105 Doing Business ranking, 90 dollar assets, 7 dollarization, 112–14 domestic demand, 82–83, 113 drivers of growth, 4 “dynamic Asian economies”, 78 E EAS (East Asia Summit), 3, 73 East Asian Climate Partnership Program, 41 East Asian crisis, 52 Eastern Europe, 19 economic integration, regional, 85–87 Economic Review and Policy Dialogue, see ERPD Ecuador GDP, 112, 115 R&D expenditure, 123 remittances, 111 response to crisis, 110, 116–19 EMBI (Emerging Markets Bond Index), 114 EMEAP (Executives’ Meeting of the East Asia and Pacific Central Banks), 86 engines of growth, 4, 6, 37–42, 47, 61, 85, 94, 123 logistics reform as, 36–37 priorities and, 43 ERPD (Economic Review and Policy Dialogue), 87 Europe, consumption growth, 4 European Central Bank, 14 European Union, 19, 104 EU Single Market Program, 86 Executives’ Meeting of the East Asia and Pacific Central Banks, see EMEAP...