This book provides a coherent and current account of how India,
Indonesia, Malaysia, Thailand, the Philippines, and the People's
Republic of China coped with the Asian financial crisis of the
1990s and the recent global economic recession, and how they may
address future challenges in maintaining growth in difficult times.
It features a valuable overview of issues from a regional
perspective, five chapters on general elements and obstacles in
development, and individual chapters on the experience of each of
the six countries. Every chapter is replete with relevant
institutional and statistical data. The volume fills a void in the
literature and is highly recommended for graduate students and for
economists concerned with contemporary Asia.' - Peter Drake, The
University of New England and Australian Catholic University,
Australia'To understand what makes Asia tick in the face of
continuing global uncertainty and instability one has to go beyond
numbers into the region's psyche and idiosyncrasies. This volume
provides an interestingly intrusive and refreshingly insightful
analysis of a highly complex phenomenon that defies generalizations
as shown by the diversity of individual country experiences.' -
Mohamed Ariff, International Centre for Education in Islamic
Finance (INCEIF), Malaysia The center of global economic activity
is shifting rapidly towards Asia, driven by a combination of the
economic dynamism of the People's Republic of China, India, and
other middle-income Asian countries, and sluggish growth in the
OECD economies. The rapid growth and rising global prominence have
raised a range of major challenges for Asia and for the rest of the
world. This comprehensive, forward-looking book examines these
issues through in-depth studies of major Asian economies and an
analysis of the key development policy options. The contributors,
leading international authorities in their field, explore
cross-cutting thematic issues with special reference to developing
Asia. They address a broad range of subjects including: investment
and productivity, savings and the savings-investment relationship,
financial development, the provision of infrastructure, and
governance and institutions. Detailed country studies focusing on
the People's Republic of China, India, Indonesia, Malaysia, the
Philippines, and Thailand not only provide an analytical narrative
for each case study, but also draw attention to the similarities
and diversity within the region. This challenging and
thought-provoking book will prove an important point of reference
for scholars, researchers, and students in the fields of economics,
development economics, and Asian studies.
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