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Macroeconomic Policy Brief Vol.1, No.1, December 2008: Addressing the Impact of the Global Financial Crisis on Asia-Pacific Economies
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| Author(s):
N/A
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| Economic Sector(s):
(1) Global, regional and multisectoral economic and social development strategies and policies |
| ESCAP Reference
No.: Vol.1, No.1, December 2008 |
| Division/Office:
Macroeconomic Policy and Development |
| Published Date:
January 2009 |
| Country:
{Non-country Specific Publication} |
| Hard Copy Price:
Free
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| The purpose of this policy brief series is to provide an analysis on macroeconomic policy challenges facing the ESCAP region. Some of
these challenges may appear suddenly and confront policymakers unexpectedly. Other challenges may be long term or recurrent ones
that suffer from inaction, policy fatigue, or the benign neglect of policymakers. Analyses and reliable statistics may be lagging behind or
may not be available at all. This series aims at generating a forward-looking discussion among policy planners, researchers and other
stakeholders that will build a regional consensus and forge political will on the policy actions and pressing reforms that are needed.
The first volume of the series is dedicated to the financial crisis: a crisis that over the past decade was predicted many times, by many,
including ESCAP and other international organizations, eminent scholars, economists, policymakers and futurists. Less than a handful predicted
its exact timing. None averted it. Much remains to be understood and done before regulatory policies and systems can be reformed. |
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Introduction
Contagion Returns
How hard have the region's financial markets been hit?
What did the region learn from the 1997 crisis?
Where are the vulnerabilities and pressure points?
Hightened exposure to mobile capital flows
Banking sector vulnerabilities on the radar
External public sector repayment pressures also under scrutiny
What next? The importance of greater regional policy coordination
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