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Socio-Economic Policy Brief, No. 6, August 2006. The Calm Before the Storm?: Managing the Risks of an Asia-Pacific Financial Downturn
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| Author(s):
UNESCAP
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| Economic Sector(s):
(1) Global, regional and multisectoral economic and social development strategies and policies; (2) Monetary and financial issues and policies |
| ESCAP Reference
No.: August 2006, Issue No. 6 |
| Division/Office:
Macroeconomic Policy and Development |
| Published Date:
August 2006 |
| Country:
{Non-country Specific Publication} |
| Hard Copy Price:
Free
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| UNESCAP is issuing a warning to Asian governments to reduce exposure to the impact of a sudden or unexpected market downturn, urging a mood of protection and preparation. Asian countries have to stay alert despite the lull in financial markets recently. There are a number of new emerging risks which may lead to more stormy weather ahead. The region has bitter memories of the Asian financial crisis in 1997. Countries are now in a stronger position to handle turbulence. However, as Asian economies are becoming more integrated into the global economy, they also face a higher risk from the constantly shifting global environment. It is increasingly important to build strong and flexible economies that can weather global shocks and adapt to new realities. Countries in the Asia-Pacific region must also improve regional cooperation to lessen the impact of financial market volatility. |
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