Asia-Pacific economies after the global financial crisis

Lessons learned and the way forward

image of Asia-Pacific economies after the global financial crisis
This publication is to understand why countries in the Asia and Pacific region were significantly less affected by the global financial crisis than the world’s most advanced economies of Europe and the United States, and what are the main lessons from their experience for building resilience from future crises. The majority of the essays collected in this volume are revised and updated versions of papers presented by experts from the region at a conference organized by the Economic and Social Commission of Asia and the Pacific in Manila in September 2011.




Starting in the second half of 2007, the Pakistani economy began to show distinct signs of slowing down and started experiencing serious pressures on its fiscal and balance of payments situation. Growth in the economy took a sharp downward turn. By early 2012 the economy still had not recovered and remained mired in deep stagflation – characterized by low growth and high inflation. Economic policies that were adopted, including the ones under the International Monetary Fund (IMF) programme since November 2008, appear to have been of little help in reversing this situation.


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