What We Have Seen and Learned 20 Years After the Asian Financial Crisis

By Mitsuhiro Furusawa

July 13, 2017

Versions in  عربي (Arabic), Bahasa (Indonesia),  中文 (Chinese), Español (Spanish), Français (French), 
日本語 (Japanese), Русский (Russian)

A trader in Seoul, South Korea: Asia is the largest contributor to global growth (photo: Ryu Seung-il/Polaris/Newscom)

Asia today is the fastest-growing region in the world, and the largest contributor to global growth. It has six members of the Group of Twenty advanced and emerging economies, and its economic and social achievements are well recognized.

But 20 years ago, July 1997 marked the beginning of the Asian Financial Crisis, when a combination of economic, financial and corporate problems triggered a sharp loss of confidence and capital outflows from the region’s emerging market economies. The crisis began in Thailand on July 2, when the baht’s peg to the dollar was dropped, and eventually spread to Korea, Indonesia and other countries. Continue reading “What We Have Seen and Learned 20 Years After the Asian Financial Crisis” »

Higher Policy Uncertainty Could Be Bad News for Japan’s Economy

by  Elif C. Arbatli, Steven J. Davis, and Arata Ito

May 30, 2017

Version in  中文 (Chinese), 日本語 (Japanese)

Policy uncertainty remains a challenge in Japan, and can harm the country’s economic performance according to a new IMF study. The good news is that credible plans for taxation, spending and structural reforms, as well as greater clarity about monetary policy can reduce uncertainty. Continue reading “Higher Policy Uncertainty Could Be Bad News for Japan’s Economy” »

Asia’s Seismic Shift: How Can the Financial Sector Serve Better?

Min ZhuBy Min Zhu

(Versions in  中文Español)

Asia is set to be the powerhouse for growth in the next decade, just as it was in the last one. The size of its economy is expected to expand more rapidly than the other regions of the world, and its share in the world output is expected to rise from 30 percent to more than 40 percent in the coming decade. The structure of the economy is expected to continue to transform from a narrower manufacturing hub to a group of vibrant, diverse and large markets with a rising middle-class population.

The role of the financial sector is critical in the success of this seismic transformation. Let me explain by focusing on three areas:

Continue reading “Asia’s Seismic Shift: How Can the Financial Sector Serve Better?” »

Investing in a Rebalancing of Growth in Asia

Continuing my travels through Asia for the launch of our latest Regional Economic Outlook: Asia and Pacific, I am writing to you today from Singapore. Last week, I wrote about the near-term outlook for Asia. Today, I turn to the key medium-term challenge—an issue emphasized by G-20 ministers over the weekend—the need to rebalance economic growth. For much of Asia, this means shifting away from heavy reliance on exports by strengthening domestic sources of growth. While much of the discussion on this issue has focused on ways to increase consumption, the role of investment is equally important and should not be overlooked.

By | October 25th, 2010|Asia, Economic outlook, IMF, International Monetary Fund|1 Comment
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