Regional Co-operation and Asian Recovery

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About the Publication

A full acknowledgement of the dangers of analysis by hindsight leaves one with a simple question: if the origins of the Asian financial crisis lie in the structural flaws in the Asian financial system, then why did it occur when it did? What in the economic structure or fundamentals changed between the Asian Miracle and the Asian Crisis? Some slowdown in East Asian growth was probably inevitable after the fast pace of the preceding three decades. But the slowdown interacted badly with the highly-leveraged financial system. The crisis was the result.
           Asia Pacific Economic Co-operation (APEC) is about the things that can help the region put in place the policies and the infrastructure, human and capital, for sustainable growth over the coming years. The international community can play a role in supporting the process of reform. This book briefly assesses the Asian crisis, discusses financial systems for recovery, and the role of investment and trade flows and policies.
          
          
          
          
          
          

Contents

Preliminary Pages, by Peter A Petri, editor
1. The Implications of Asia's Unprecedented Crisis, by Allen Sinai, contributor
2. International Context for Asian Recovery, by C Fred Bergsten, contributor
3. Policies to Encourage the Recovery of Private Capital Flows to East Asia, by Jesus P Estanislao, contributor
4. The Asian Financial Crisis in Perspective, by Jeffrey A Frankel, contributor
5. Social and Political Context of International Trade, by Robert Reich, contributor
6. Prospects for APEC in 1998, by John Wolf, contributor
7. Financial Reform in East Asia Post-crisis, by Wendy K Dobson, contributor
8. Currency Arrangements in Southeast Asia, by Manuel F Montes, contributor
9. The Korean Economy at a Crossroads, by Soogil Young, contributor
11. The Asian Crisis Seen from Europe: Can Newly Emerging Europe Help Newly Declining Asia?, by Danny M Leipziger, contributor
12. Foreign Direct Investment in the Wake of the Asian Financial Crisis, by Peter A Petri, contributor
13. Impact of the Asian Financial Crisis on Trade Patterns of the Affected Economies, by Inkyo Cheong, contributor
14. Regional Trading Arrangements in the Asia-Pacific Region: Strategic Options for a Weakened ASEAN, by Tan Kong Yam, contributor
15. APEC Early Voluntary Sectoral Liberalization, by Michael Schuele, Alexis Hardin, Philippa Dee, contributors
16. APEC Strategy towards 1999, by Robert Scollay, contributor

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