The Asian economic crisis and future development is a popular
subject among academics and policy-makers worldwide. Several
countries in Asia came to face severe economic recession in the
wake of their financial and foreign exchange crisis which began in
1997. The recession was deep and the challenges for managers of
respective economies for an optimum specification of monetary and
fiscal policy guidelines became all too great. Many came to wonder
whether the so-called "Asian Miracle" all of a sudden became a part
of history. If so, how will Asia recover from the crisis and
experience high growth and continuing development as in the past
quarter of the century? Can such a crisis be forewarned? Which
development paths should Asia seek so that the crisis will not be
repeated in the future? In other words, the challenge is to
formulate rational economic policies for Asia's newly
industrialized/industrializing economies so that their
industrialization and development can sustainably progress as Asia
enters the Twenty-First Century.
The book addresses the above issues by covering many topics
including financial meltdown and industrial development, money and
financial markets, exchange rates, capital flows, economic reforms,
human capital development, impact of the financial crisis on growth
and poverty incidence, as well as other development problems in
Asia-Pacific countries.
The subject of this book should be of great interest to scholars,
policy makers and the general public who follow economic
developments in Asia. It will contribute to a broader perspective
and at the same time, a deeper understanding of the subject
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