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Economic and Social Survey of Asia and the Pacific 2013

Forward-Looking Macroeconomic Policies for Inclusive and Sustainable Development

image of Economic and Social Survey of Asia and the Pacific 2013
This document provides a review of the region’s performance in 2012 and its outlook in 2013, as it recovers from the global economic crisis and assesses the region’s policy response to remaining and emerging vulnerabilities. Areas of economic and social policy analysed include growth, inflation, trade and investment, financial markets, employment, migration and remittances. Key challenges ahead are addressed and policy responses recommended for countries in order to sustain their development. The document also addresses a thematic issue, discussing the current approach of macroeconomic policy making and critically assessing whether it has served development adequately.

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Introduction: Why forward-looking macroeconomic policies for inclusive and sustainable development in Asia and the Pacific?

The Economic and Social Survey of Asia and the Pacific 2013 comes at a time of continued global economic crisis and growing uncertainty over the economy, the environment and the type of politics or governance arrangements that can lead to equitable, inclusive and sustainable development. In less than a decade after the global community mobilized around the Millennium Declaration with commitments to “make poverty history”, the world was shaken by the worst economic crisis since the Great Depression, which has come to be known as the Great Recession.

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