This book is based on the papers presented and discussions held at a high-level regional workshop organized by the Asian Development Bank in January 2010 to discuss the impact of the global economic and financial crisis on developing Asia. It provides a clear and thought-provoking analysis of the global economic crisis from the perspective of 19 Asian countries.

The papers present concrete ways in which Asian economies and financial systems can be made more responsive and resilient. The book proposes that Asian economies can capitalize on the global economic crisis by using it as an opportunity to move from crisis management to gradually assuming global economic leadership. It spells out a general framework for strengthening recovery efforts, ensuring inclusive growth and open regionalism, rebalancing Asia's growth model, and creating greater regional cooperation for a prosperous and resilient Asia.

This is perhaps the first ever book in the market to undertake an in-depth discussion about the impact and the long-term implications of the global financial crisis on economies in Asia.

Longer Term Implications: Regional Coordination and Cooperation

Longer term implications: Regional coordination and cooperation
Rajat M.NagAliHashimWangdiNorbuDimitriGvindadzeRoberto F.De OcampoGhulamDastgirAladdinRillo

A session that was dedicated to the topic of regional coordination and cooperation was chaired by Rajat M. Nag,Managing Director General, ADB. Its purpose was to focus on what Asia can do as a region to “walk the talk,” so to speak, individually and collectively, in response to the global crisis.

Panel Discussants included Ali Hashim,Minister, Ministry of Finance and Treasury, Maldives;Wangdi Norbu,Minister, Ministry of Finance, Bhutan;Dimitri Gvindadze,Deputy Minister, Ministry of Finance, Georgia;Roberto F. De Ocampo,Former Secretary of Finance, Philippines;Ghulam Dastgir,Director, South Asia Association for Regional Cooperation (SAARC); and Aladdin Rillo,Head of Finance and, Integration Division, Association of Southeast Asian Nations (ASEAN).

The Chair invited the panel discussants to address four ...

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