This paper finds that developing Asia'e economic growth over the past 3 decades was due to robust growth in capital accumulation, while the contributions of education and total factor productivity remain relatively limited.
Recovery from a recession in Asian economies is somewhat slower than in OECD economies, but recovery from a financial downturn is not much different.
The paper analyzes the stylized features of historical crisis episodes for 21 developing Asian economies over 1961–2007.