This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The … currency crisis episodes. However, the degree of initial contraction and following recovery has been far greater in East Asia … than what the cross-country evidence predicts. This paper argues that the sharper adjustment pattern in East Asia is …

This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The … currency crisis episodes. However, the degree of initial contraction and following recovery has been far greater in East Asia … than what the cross-country evidence predicts. This paper argues that the sharper adjustment pattern in East Asia is …

the rapid transformation of the Asian economy, the challenges it faces, emerging regional solutions, and how Asia can play … a more constructive role in the global economy. Asia is becoming not just the world’s factory, but also its leading … creditor, and one of its key sources of dynamism and stability. Key questions are identified and addressed in three areas: Asia …