Managing Economic Crisis in Southeast Asia

Index

Index 327 Index A Abhisit Vejjajiva, 16, 182, 188 ADB (Asian Development Bank), 187, 236–37 Agricultural and Cooperative Bank, 188 AIG (American International Group), 5–6, 55–56, 57, 295 Air Line Pilots Association (Alpa-S), 75 Ando, Mitsuyo, 300 APEC (Asia-Pacific Economic Cooperation), 43 Arvey, Richard, 83 ASEAN (Association of Southeast Asian Nations). See also individual member countries Asian financial crisis and, 23 currencies and exchange rates, 36, 38t, 41 development gap, 47–48 economic integration, 20–21, 42–51 effects of crisis, 23 free trade agreements, 29, 46 GDP growth rates, 32t, 33t inflation, 35–36, 38–39 intra-Asian trade, 46, 293 intra-regional trade, 18, 41, 44–45, 195 major trading partners, 24, 28t, 37, 46 “middle income trap”, 49 outlook for 2010, 11, 24, 31 policy rates, 38, 39t policy responses to crisis, 24, 41 Thai economy and, 156, 195, 206 threats to recovery, 36–37 trade with India, 29 Vietnamese economy and, 220, 221 ASEAN+3, 43 ASEAN Charter, 47 ASEAN Economic Community (AEC), 24, 42–51, 52 ASEAN Secretariat, 47 Asia Bond Markets Initiative, 43 328 Index Asian financial crisis effect on private investment, 48 Indonesia and, 18, 305–9 subsequent reforms, 1, 11, 23–24 Thailand and, 14, 144, 145–46, 148–51, 175, 202, 206, 306 Aswicahyono, H., 306, 309 Australia, 123, 168 Automotive Industry Index (AII), 139 B baht (THB), 121, 173–74, 179, 204, 207 Bangko Sentral ng Pilipinas (BSP), 18, 271, 280, 284 Bangladesh, 314 Bank Indonesia, 297, 305, 308, 309, 310 Bank Negara Malaysia (BNM), 119, 121, 123f, 133 Bank of America, 8, 55 Bank of England, 8–9 Bank of Thailand, 173, 179, 199, 200, 202–5, 207 Barclays, 59 Basri, Muhammad Chatib. See Muhammad Chatib Basri Bear Stearns, 6, 55 Bresnan, John, 309 Britain, 8, 20, 112, 123. See also pound sterling (GBP) Brumberg, R., 312, 313 Brunei, 10, 12, 123, 124 Bumiputra equity requirement, 14, 128 Bureau of Internal Revenue (Philippines), 281 Business Conditions Index (BCI), 113, 133, 134, 137 business process outsourcing (BPO), 249–50, 288n1 C CALABARZON region, 262 Cambodia, 10, 11, 48, 123 Capital Markets Financial Advisory Services (CMFAS), 70 Cayman Islands, 221 CBMS Network, 273 Cebu City, 262 Central Bank of Malaysia (BNM), 119, 121, 123f, 133 Central Provident Fund (Singapore), 72 CEO Confidence Index (CCI), 138 Certified Service Professional (CSP) programme, 74 Chan, Robin, 65 Index 329 Chantarang, U., 167, 168 Chartpaisal, 167, 168 Chay, Felda, 74 Cheewatrakulwongse, K., 195 Chiang Mai Initiative, 20 Chiang Mai Initiative Multilateralization, 43 China. See also renminbi (RMB) exports, 299 fiscal stimulus, 30 GDP growth rates, 11, 20, 24, 28t, 29–30, 127 Greater Mekong Subregion Program, 48 Indonesian economy and, 293 Malaysian economy and, 123 relations with ASEAN, 29, 46 Thai economy and, 151, 195, 206 as trading power, 42 Vietnamese economy and, 220, 221 Chirathivat, Suthiphand, 146, 195 CitiGroup, 59, 237t climate change, 286 Collateralized Debt Obligations (CDOs), 3–4, 6, 56, 166, 167, 168, 172 Consumer Price Index (CPI), 113 consumer protection, 44 Consumer Sentiments Index (CSI), 133, 134, 136 Cooley, Thomas, 83 CPF Investment Scheme (Singapore), 67 Credit Default Swaps (CDSs), 4–5, 6, 56, 166, 172 credit rating agencies, 80 Cua, Genevieve, 81 D DBS High Notes, 12, 57, 59–60, 65 “decoupling” theory, 292–93 Democrat Party (Thailand), 181, 205 Department of Labor and Employment (Philippines), 277 Deposit Insurance Scheme (Singapore), 66 Deutsche Bank, 59 Doing Business Survey, 44, 45t domestic demand, 313–16 Dubai debt crisis, 121 E East Asia Summit (EAS), 43 East Asian economies, 293, 300. See also China; Japan; South Korea 330 Index e-commerce, 44, 78 Economic Development Board (Singapore), 73 education, 85, 89, 184 Eichengreen, Barry, 143 EIU (Economist Intelligence Unit), 237 environmental concerns, 81, 286 equity markets, 36 Euro (EUR), 27, 121 Europe economic outlook, 126, 138, 143–44, 292 effects of crisis, 8 response to crisis, 27 sovereign debt crisis, 37 tourism from, 156 European Union, 47, 151, 221 Eurozone, 25, 27–28 EXIM banks, 188 export-oriented development strategy, 20 F Fane, George, 306 Fannie Mae, 6, 55 FIC (Foreign Investor Committee) (Malaysia), 112 Financial Advisers Act (FAA), 61, 68 Financial Industry Dispute Resolution Centre (FIDReC), 13, 65 Fitch, 80 Fong Wai Mun, 82 food prices, 30, 113, 159, 218 foreclosures, 3, 4 France, 300 Freddie Mac, 6, 55 free trade agreements, 20 G G-20, 197 Germany, 42, 112, 300 globalization, 80–81...