Description

What implications does the Asian financial crisis have for outward-oriented economic policies? Should countries still strive toward greater openness? What policies will economic recovery entail? Is a new international financial architecture needed?

Answers to these and other timely issues can be found in the 1999 edition of the Asian Development Outlook, the Asian Development Bank's annual survey of economic development in its developing member countries in the Asian and Pacific region. The 1999 Outlook includes an in- depth examination of the role of economic openness in the aftermath of the Asian crisis, and examines whether the Asian countries' march toward this policy needs to be calibrated in the face of the changing world economic environment.

The Outlook critically examines various strategies for economic recovery by the economies affected by the financial crisis and identifies the key reforms needed to build more robust financial sectors in the region. In addition, it carefully analyzes the crucial development challenges the global trading environment poses to the region's growth and development and suggests policies that can address these challenges.

The 1999 Outlook also features:

• An assessment of global economic trends and recent performance and prospects in the developing economies of the Asian and Pacific region;
• A comprehensive analysis of the financial crisis in Asia;
• Economic profiles of the Bank's developing member countries; and
• A statistical appendix that presents major economic indicators for the Bank's developing member countries.

Contents

• The Financial Crisis in Asia
• Economic Developments and Prospects