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The Asian Economy: Spearheading the Recovery from the Global Financial Crisis

by: ;
ISBN: 9780415665544 | 041566554X
Edition: 1st
Format: Nonspecific Binding
Publisher: Routledge
Pub. Date: 8/24/2011

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The global financial crisis of 2007-09, and the Great Recession that it engendered, were nothing short of a tsunami of financial chaos. It is widely agreed to be the worst financial turmoil in six decades, which drove the global economy close to a melt-down. The crisis was both a challenge and an opportunity for Asia, which weathered the storm better than the other regions of the global economy. It not only remained unharmed by the global financial crisis initially but also recovered the fastest. In addition, it was also the principal driver of the global recovery.This book analyzes the impact of the global financial crisis and the Great Recession on the Asian economy. Dilip K. Das delves into the most significant and germane issues related to the Asian economy during the crisis, how it coped with them and how it eventually emerged from them. The fact that the Asian economy, particularly the emerging-market economies, spearheaded the recovery of the global economy from the global financial crisis and recession has enormous qualitative significance. This is a development of historic significance.Written in a clear, comprehensive and critical manner, this book covers the contemporary academic and policy debates on Asia's role in the world economy. As such, it is an essential read for students, researchers and public policy professionals interested in the Economic Development of Asian and International Economics.

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