The Asian Development Experience: Overcoming Crises and Adjusting to Change


Seiji F. Naya


Hong Kong: Asian Development Bank

Available From: Asian Development Bank
Publication Date: 2002
ISBN: 971-561-471-X
Binding: cloth


The Asian Development Experiencedraws its inspiration from the themes, seminars, and discussions at the 34th Annual Ministerial Meeting of the Asian Development Bank held in Honolulu, Hawaii, in May 2001. It delves into such questions as: Was Asia's rapid economic growth really a miracle? Are there environmental and societal limits to growth? Can pro-poor growth policies alleviate mass poverty? Can information and communications technology bridge the digital divide? What can be done to head off financial crises? Will regional cooperation calm macroeconomic turbulence?

The author stresses that, now more than ever, Asia is a region largely integrated into the global economy. Drawing heavily from personal research and policy participation, he notes that integration has brought with it many benefits, such as rapid economic growth and openness in trade, investment, and knowledge diffusion; however, integration has also heightened the region's vulnerability to regional and international developments, such as the Asian financial crisis. He concludes that Asia's regional uniqueness provides an opportunity for cooperative endeavors to deal expeditiously with problems that are closest to their source.

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